"It seems that every day, there is another story about a young person who started a side hustle and hit it big. In 2024, over one-third of Americans had a side hustle to supplement their income. Side hustles are particularly appealing to Gen Z, with about half of them reporting having one. Millennials are a little less active, with about one-third of them stepping up to get that extra income that a hustle provides."
"There are some dramatic differences between a side hustle and a mature business. To begin, a side hustle is generally a part-time endeavor to make some additional money and does not require a lot of investment. A business is more structured and complex. Believe me, it takes a significant amount of time, attention and cash to be successful in the long haul."
More than one-third of Americans had side hustles in 2024, with roughly half of Gen Z and about one-third of Millennials participating. Side hustles typically operate part-time with low upfront investment and serve as supplemental income. Mature businesses demand greater structure, ongoing time, managerial attention, team development, and significant capital to sustain long-term success. Some side hustles scale into enduring companies when founders build teams and secure financing. Entrepreneurs face career-stage decisions about continuing, selling, or launching new ventures, and older workers may find meaningful opportunity in starting or scaling side hustles.
Read at Entrepreneur
Unable to calculate read time
Collection
[
|
...
]