Should you launch a side hustle?
Should you launch a side-hustle?
You’re mid-career and feel you have more to offer than what the day job provides. Is the answer to start a business on the side?
It sounds appealing in theory.
In practice… not so easy.
Most of the aspiring founders we come across at DQventures—who are usually in their late 30s or older—can’t find the time to start something of their own.
Some have tried to start something but just couldn’t find the time to do anything properly, so they parked it.
The later you get in life, the busier you are: work, after-hours calls, house stuff, kids stuff, bills to pay, ageing parents to attend to….
In fact, for older professionals, getting that entrepreneurship fix almost ALWAYS boils down to lack of time (as opposed to money, skill, contacts, confidence, or anything else).
Most of the existing ecosystem isn’t helpful, either.
VCs and accelerators are set up for people who can afford to dedicate serious time to something – month after month…
… i.e. younger people or exited founders.
There aren’t many 40-somethings who can do that.
What’s more, it takes years to get a business going properly, especially if you’ve never done it before:
- Probably 6 months to understand what to do;
- Another 2-3 to get a website written and live;
- 12 months to get a customer;
- Another 6 to get any serious “traction”; and
- Maybe 2/3 years before you can pay yourself anything to speak of(!!)
For most people, that’s too much to ask, or just not interesting.
So what do you do?
Well, I’d recommend one of the following:
- Start a side-hustle anyway… but as a hobby, because you love it; or
- Get your entrepreneurial fix by investing (in >20 angel deals); or
- Work with a specialist to validate your idea before going all-in.
Lots of nuance to all three, of course. Proceed with caution.
