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July 16, 2018 0 comments

Everyday We’re Hustling . . . 
What might you have in common with 44 million other people in the U.S.?


A side hustle, from which approximately 36% of these folks earn $500 or more per month.  Indeed, most conversations around the future of work focus heavily on the rise of the on-demand economy, which in 2017, comprised more than 36% of the U.S. workforce at over 57 million people and counting, with a projected rise to 43% by 2020.

But, the age of hustle is not a “new” phenomenon, but it’s nearly as old as time.

In most neighbourhoods, nearly everyone has a hustle.

When driving through the cities and towns of most developing countries, it’s easy to note how the number of small ventures and enterprises rivals the size of the population.  It’s evident from the natural sharing economy of public markets, the common business incubators of apprenticeship, and the way villages coalesce to combat scarce resources and facilitate equitable allocation—- entrepreneurship lives in the DNA of our community fabric.

Whether it was selling candy in school, masterfully orchestrating cafeteria market place for undesired snacks, your first lawn-mowing business, or the infamous lemonade stand.  We don’t have to think too hard about how long we’ve been hustling.

So this week, we’re offering a few thoughts on how to amplify your hustle:

Go Big, or Go Home.  Don’t quit your day job just yet.  You can still invest fully in your side hustle while holding down a 9-to-5.  Rather, avoid the tendency to think small, and instead, develop a strategy to scale.  Start with a business license.  Get a website, if necessary.  Grow your existing customer base by 2, 3 or 5 percent this quarter. The key lies in continually striving toward those incremental wins, the sum of which will eventually yield a bigger whole.

Elevate Purpose Over Passion.  Because . . .  passion will only take you so far.  And, those late nights, long weekends, and virtually non-existent vacation calendar will have you questioning whether your hustle is worth all the effort you expend. It’s likely that side hustle is something you enjoy doing– one that plays to strengths or natural talents. But, have you ever considered the “why” behind your side hustle?  Purpose trumps passion any day.  Before you make a series investment of time, talent and treasure, come to a clear understanding of the greater purpose.

It’s About More Than Toilets. No, really, it is.  Jack Sim, founder of the World Toilet Organisation reminds us that entrepreneurship “can be the great engine that lifts billions out of poverty, but it needs to be driven with the right values. Instead of admiring people who have money, what if we looked up to those who create value? Let’s redefine ‘billionaire’ to mean someone who has improved one billion lives.”

When your hustle evolves beyond functional objects designed to attract higher revenues; you not only achieve personal economic inclusion, but create a broader vehicle for value-driven impact.

Cheers,

Venture Cafe Miami

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