Side-hustlin’

[image via ThinkStock]

In 140 characters or less, describe yourself: Teacher / Entrepreneur / Professional Storyteller / Blog Contributor / Weekend DJ? You’ve probably seen a Twitter bio or two like this before, but all joking aside, it’s part of an interesting trend we’re seeing and tracking amongst Millennials – one we call “sidepreneurship.”

Faced with student debt, a discouraging job market and lackluster economy, many Millennials are focusing their energies into “side hustles” or “sidepreneurship.” This describes the side businesses that people are building, alongside the regular work they do, to make more money, fulfill their dreams, or maximize their potential in ways that their 9-to-5 might not be able to.

Many side hustles are creative endeavors – passion projects that might not see any returns yet, that sidepreneurs feel genuinely motivated by and generally hope will flourish into full fledged enterprises one day. Sidepreneurship is an outlet for workers of any age who might not feel like they have opportunities to lead or have agency in their current job – this is particularly resonant with many Millennials who feel stifled by their potential, but ambitious and optimistic about their own capabilities.

And through our own ongoing quantitative and qualitative research, we know that career paths for Millennials look very different from those of their parents and generations before. With a seeming world of options and a heightened sense of possibility, Millennials are finding their own way, and feel a strong sense that they must search for their calling. Their employer may be it…but maybe not: enter the side hustle.

Talking to Forbes just the other day, Scratch’s Ross Martin put it into perspective, “Millennials aren’t just position players. They don’t only play first base or left field. They are ‘athletes’.” Millennials are developing skill sets that can take them in a lot of directions – rather than be forced to focus on a single job function at the expense of their other interests, Millennials want to turn their interests into their work. Those companies that celebrate this idea and incorporate it into their culture will be the ones who attract the most inventive and creative problem solvers now, and in the future.

Read more at Forbes >

Posted on July 20, 2012, in Economy, Entrepreneurship, Millennial Creators, Millennial Facts, Millennial Values and Attitudes, Millennials, Money and Finance, Scratch Trends, Social Media, Viacom Media Networks and tagged , , , , , , , , , , , . Bookmark the permalink. 3 Comments.

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