Why You Should Not Completely Rely On The Startup You Work For. Build Plan B!
Don’t put all your eggs in one basket
I have worked with many startups, never been a founder but have been an early employee a few times. My focus has been on making the startup I work for successful and in the process make some money.
I have built products from scratch and have scaled the system to millions of users. The journey has been incredible, I worked with many great people and solved a lot of challenges.
I realized the chances of a startup being successful is very lean and regret not creating a side hustle for myself along the way.
Chances of a startup to succeed is narrow
Working for a startup is great, you get to learn, have more responsibility than ever, can get your hands dirty with a lot of technology, and gain knowledge.
I have been working for startups for many years now, have seen more downs than ups. Though we all know that the chances of a startup becoming a unicorn or being successful are extremely lean.
Even after knowing this, we engrossed ourselves in the startup so much that we do not build a plan B. Being optimistic is what makes startups go big, but you should always build a side hustle along to cover the risk and to have some extra income.
It’s always good to build a side hustle
Building a side hustle is a great idea, not just for people working for a startup but for everyone. It is another ride that takes you up and down.
In process of building a side hustle, you learn to be patient, you learn how to go forward against the odds, and bring in a few extra pounds.
The best part of a side hustle is you don’t spend a lot of time. But it can take a course of time to make a successful side hustle.
Building a side hustle teaches you new skills, helps you grow as a person, and as a professional.
Always diversify
We all have heard —
Don’t put all your eggs in one basket
Relying only on the startup you are working for is exactly opposite to the above statement.
Relying on one source of income is a bad idea. Similarly betting on the success of a startup is not wise at all. You should save money, build a good investment portfolio, start a side hustle, etc.
Conclusion
Most of us who work for a startup have an aim to build our own startup one day. While professionally we prepare ourselves for entrepreneurship by solving the problems and challenges we face at work.
To be an entrepreneur we need to face the challenges an entrepreneur faces. For this why wait till you start your own startup. Start now with a side hustle and learn.
To be independent tomorrow, you need to prepare yourselves financially as well. Save money, invest and grow your financial knowledge.
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