All In or Side Hustle for Entrepreneurs?

Okay, so you've decided you're gonna be an entrepreneur, but do you start with side hustles and work your way up, or do you go all in? Stay tuned, we're gonna talk about that today. So, all in or side hustle? It's easiest if we just look at the pros and cons of each, guys, to figure out whether or not one is right, one is wrong, or perhaps it's more about What suits your needs best. So let's start with all in, okay? It's a strategy that I'm familiar with because it's one that I have done myself, and it's one that I've seen others perform. You know, Robert Kiyosaki is a big one, Richard Branson's another one. These are guys that just committed to it. This is it, we're going all in, it's this or bust, and off they went. The pros to this method are this, guys. When you are all in on something, there are no other options. So to quit becomes very difficult, and oftentimes that can be the key driving success factor for entrepreneurs, is the refusal to accept anything but success. You're gonna go because there's nowhere else you can go. You're gonna succeed because if you don't, it's all gone. So the upside to this is there's a serious drive and push to and succeed when you go all in as an entrepreneur. The downside to this, of course, is those that go all in and end up with nothing. So they didn't do their due diligence, they didn't plan it out ahead of time, they didn't have a key concept understanding of where they were going, what they wanted to achieve, what success looked like, what they needed to succeed, what they would have to sacrifice to succeed, and as a result, it led to utter failure. destruction and failure of their lives, which often leads to them having to pick up the pieces, and people can get very sour towards entrepreneurs as a result of that, or the entrepreneurial lifestyle. So, the pros of all-in are, it's a huge motivator. You've got a big push behind you. You have no choice but success. There's nowhere else to go. The downside is, failure is a big failure. It's not— Oh well, I'll try something else. Everything is gone. So weigh that option in your head. For some people, that will resonate. If you're— and I mean, this is one that I could advocate for those who are young men and women who don't have anybody but themselves to care for. They're able to stay on a buddy's couch or sleep in mom and dad's basement as they go all in. This might be more up your alley than someone who's like me. At the time, we had 3 or 4 kids. It was a challenging decision to make. So really, it's up to you guys. You have to weigh that all in, that pro and con. But if you go this route, things move quick, things move fast, and you are driven to succeed. So now we go to the flip side. What about the side hustle? So the way the side hustle works is you don't quit the job. You keep your job. And you work your regular job, and then you find things that you think you may be passionate about. So YouTube channel like this, or perhaps you're going into a food retailer, or you wanna be a musician. So what you're doing is you're working your regular job, providing for yourself, paying the bills, and then in every spare moment, you are dedicating your time to building these side hustles into things that could eventually become a full-time entrepreneurial lifestyle. So what are the pros to this? There's a lot more safety and security. That's just the reality of it. There's a lot more safety and security in this, guys. When you are able to have a consistent income coming from your job, and not that a day job can be any more consistent than an entrepreneurial job, I understand that, you know, you can get fired, you could lose your position, but the reality is day jobs tend to be a little bit more stable than entrepreneurial gigs. So it comes with stability. You've got the option to try a whole bunch of different little things. You're not committed to all in on one thing. So you can dabble, and if it fails, no big deal. There's not a lot of commitment to it. It didn't have to succeed. So that— those are kind of the advantages of the side hustle. Now, the disadvantages of the side hustle are you lose a lot of that momentum, you lose a lot of commitment, and I see a lot of people that quit on side hustles very quickly as opposed to the all-in. People on the all-in, they'll stay committed. So take this channel for example, right? A daily video Monday through Saturday for a year. That's a lot of hustle. That's a lot of work to get done, okay? Now, if that's a side hustle, it becomes very easy to quit on that. Anything that requires time, commitment, energy like that, a side hustle, at the end of the day, if you come home tired from work and you've gotta put out a YouTube video or you gotta record a song or you gotta cook some food or whatever your side hustle is, it can be draining and you can just say, oh, you know what, it's a side hustle, I don't have to do it. And so for me, that's the biggest risk to it, is that a side hustle won't produce anything. So pros and cons of the side hustle are safety and security is there in a much bigger way than the all-in, but at the same time, the opportunity to quit is also there. So be aware of both. That's it for today though, guys. I'd love to hear down in the comments below which one sounds like it's more up your alley. Are you an all-in, or do you think a side hustle's more up your alley? Let me know down below, and if you're new to the channel, go ahead and hit that subscribe button. 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