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Published Dec 7, 2018

131: How to Know When It’s Time to Start a Side Hustle | Feedback Friday

Dive into the dual realms of personal and professional growth as Jordan Harbinger and Jason DeFillippo navigate complex relationship dynamics, offer strategic career advice with John Lee Dumas on starting a side hustle, and tackle workplace challenges with tactical savvy, providing listeners with actionable insights and timing wisdom.
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  • Career Changes

    Navigating career changes can be daunting, especially when personal factors are involved. and discuss the importance of balancing professional aspirations with personal commitments. Jordan emphasizes that many careers no longer require specific degrees, suggesting that experience and skill can open doors to new opportunities 1. He advises a listener to focus on personal growth and career development rather than making drastic life changes for a relationship 2.

    I think there's a lot of people that need to be okay with not being an overnight Instagram influencer millionaire when they're doing a side hustle.

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    John adds that starting a side hustle can provide a sense of purpose and potentially lead to a fulfilling career path 1.

       

    Side Hustles

    Starting a side hustle can be a strategic move for those feeling stuck in their current roles. and highlight the benefits of pursuing side projects, such as gaining new skills and reducing job-related anxiety 3. Jordan points out that a side hustle can make a current job more tolerable and provide a sense of freedom by offering alternative career options 1.

    The other thing that starting a little bit of a side hustle does is it eliminates some of the fear of looking for a job.

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    John supports this by noting that side hustles can be a practical way to explore new career paths without the financial risk of quitting a stable job 1.

       

    Retention Bonuses

    Negotiating retention bonuses requires careful consideration to avoid signaling job dissatisfaction. and discuss strategies for handling these bonuses without jeopardizing one's position. Jordan suggests negotiating for a larger bonus at the end of a term or opting for stock options to avoid suspicion 4.

    You're paying me a bonus for insurance against me leaving. I'm not comfortable giving anyone that assurance for two to three years regardless of the company or situation.

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    Jason adds that understanding the tax implications and potential financial losses is crucial when deciding whether to accept a retention bonus 5.

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