Side hustles

PLUS: I get to...

January 14, 2025

For the next 5 minutes, let’s elevate your career.

In today’s email:

  • Side hustles

  • Remember names

  • Wrangle emails in 2025

  • I get to…

  • Codie Sanchez as career coach

ON YOUR CAREER

Side hustles

Side hustles are economic activities people perform in addition to their main job. Ambition, curiosity, and a tough economy are some of the reasons why people take on a side hustle. Senior and junior people do this. Examples include a CEO serving on the board of another company, an accountant tutoring maths on weekends, or a teacher building a start-up at night.

Pros:

  1. Financial security. Additional jobs mean more money to invest or pay off debt. Diversified income streams protect us if we lose our main job. We can also test a different career without leaving our main job. Future self-employment may lead to a significant increase in wealth.

  2. Skill development. We have the opportunity to learn new skills in different jobs and industries. Learning is psychologically rewarding. Ideally, what we learn can also be applied to our main job and increase our pay.

  3. Fulfilment. A side hustle can be an excellent outlet for exploring personal interests or passions that may not align with our main job. This can lead to greater career fulfilment. This increases happiness and lowers stress.

Cons:

  1. Reduced work-life balance. Balancing a side hustle with a main job can be challenging. Too much work can diminish relationships with family and friends. It also leaves less time for exercise, hobbies, and relaxation.

  2. Increased stress. Managing your main job and your side hustle can increase your stress. Conscientious people want to deliver a high standard for every task. Pressure to deliver can lead to overload and burnout.

  3. Slower main job progress. Promotion in our main job is likely the result of consistent actions. Our effort compounds. We also get opportunities to extend ourselves on big projects and add a lot of value. It’s harder to deliver this value if our side hustle is competing for our energy.

Consistent good compounds into great. Every time.

— Codie Sanchez
COMMUNICATION

Remember names

One thing I would like to get better at in the next month is remembering people’s names. Sometimes I’m good at it, then I lapse. The technique that has worked for me in the past has these steps:

  • Listen to the new person’s name when they say it or someone else introduces them. Immediately use it to greet them. Or ask them to repeat if I haven’t heard it or I want to confirm correct pronunciation.

  • Use their name a few more times in conversation when I’m looking at their face. I don’t overdo this because it can seem contrived.

  • Say their name when saying goodbye. Then repeat their name several times in my mind.

The main step that I mess-up is not listening properly at the start. Being present and not letting my attention drift is the key for me.

Remembering peoples’ names shows we think they’re worth knowing. There’s no better way to start building rapport.

Remember that a person’s name is to that person the sweetest and most important sound in any language.

— Dale Carnegie
PRODUCTIVITY

Wrangle email in 2025

We don’t need to empty our Inbox every day nor respond to every sender. We need to respond to things that are materially important to our team and organization.

Email is meant to serves us, not ensnare us.

Wrangle it.

1 MINUTE TO HAPPINESS

I get to…

❌ I have to do a speech next week

✅ I get to share our new product to eighty customers next week

❌ On Friday, I have to attend my performance review

✅ On Friday, I get to discuss how I can excel next year

❌ I have to complete this report for the executive committee

✅ I get to share my insights with the decision-makers

Most of us have some autonomy in our jobs. We’re empowered to do significant tasks. We get to do different things. Our self-talk, and statements to others, are much more positive when we say ‘I get to’ instead of ‘I have to’. This brings us more happiness in our job.

GET SMARTER

Codie Sanchez

Codie Sanchez is a 38-year-old expert in the side hustle of buying small businesses. Her book Main Street Millionaire (2024) details how to invest in industries like plumbing, cleaning, and electrical. Sanchez likes overlooked, highly profitable, ‘boring’ businesses. These offer a better risk than quitting a day job and betting it all on a start-up.

Sanchez completed an MBA (Georgetown) and worked at Vanguard, Goldman Sachs, and State Street. She started her small business side hustles while in full-time work. This subsequently led her to establish an education business and venture capital fund.

Some of Sanchez’ career wisdom:

You’re never too good for a mentor.

It will not happen between the hours of 9 and 5.

Don’t be afraid to challenge the status quo. It’s the only way progress is made.