This is the side hustle revolution | The Way We Work, a TED series

Summary

The video script explores the concept of 'side hustles', illustrating how they embody an entrepreneurial spirit beyond traditional employment. It highlights the journey of women of color who have successfully launched side hustles, emphasizing the opportunity to be one's own boss, the value of self-discipline, and the pursuit of multiple passions. The script reveals that side hustles are not just for income but also a means for personal growth and fulfillment, with many millennials openly sharing their side hustles with employers, recognizing the benefits of such endeavors.

Takeaways

• 😀 Not everyone has a single career interest for life; people often have multiple passions.
• 📈 Approximately 15% of American workers have non-traditional jobs, such as part-time, contract, or temporary work.
• 💼 The term 'side hustle' originated in African American newspapers and evolved to represent legitimate work.
• 💡 A side hustle is distinct from a second job; it is more aspirational and entrepreneurial.
• 🚀 Successful side hustles are often started by identifying opportunities within one's community and targeting a specific audience.
• 💼 People are increasingly interested in autonomy and being their own boss, which requires discipline and accountability.
• 🛠 A side hustle is a practical way to test one's entrepreneurial skills before fully committing to self-employment.
• 🌟 Side hustles are not just about job dissatisfaction; they are also a result of having multiple interests and passions.
• 🏡 Lisa Price's story illustrates that side hustles can stem from a desire to explore additional interests, even when one loves their job.
• 🤔 The script challenges the notion of having a single career path, emphasizing the value of exploring various interests.
• 💰 Side hustles offer a chance to invest in oneself and are seen as a safer bet when one has a steady income.
• 🏆 Many millennials with side hustles are open about them with their employers, recognizing the growth opportunities they provide.
• 🌱 The side hustle revolution reflects a broader desire for fulfillment and the pursuit of happiness in one's career.

Q & A

What percentage of American workers are not engaged in traditional full-time jobs according to the script?

Approximately 15 percent of American workers do not have traditional full-time jobs.

What does the term 'side hustle' traditionally refer to, and how has its meaning evolved?

The term 'side hustle' originally referred to a scam in the 1920s, as used in African American newspapers. By the 1950s, it also referred to legitimate work.

How is a 'side hustle' different from a 'second job'?

A 'side hustle' is more aspirational and captures an entrepreneurial spirit, while a 'second job' is typically about necessity.

What is the primary goal of people who start side hustles, as mentioned in the script?

The primary goal is not necessarily to become the next Coca-Cola or Google, but to build a successful business for a specific audience.

What trait do self-made millionaires tend to have in common, according to the script?

Self-made millionaires have the trait of making decisions, holding themselves accountable, and pushing through challenges.

Why do people start side hustles, even if they love their main job?

People start side hustles because they are 'multipassionate' and have interests in various things, not just because they hate their job.

What is the significance of side hustles in terms of personal growth and learning?

Side hustles are a way to invest in oneself, offering opportunities for learning and growth, even if they do not become successful.

How do millennials view sharing information about their side hustles with their employers?

Forty-one percent of millennials with side hustles have shared this information with their employers, not fearing negative reactions and recognizing the value of the experience.

What does the script suggest about the relationship between side hustles and career fulfillment?

The script suggests that side hustles can lead to a sense of fulfillment, as they allow individuals to explore different interests and make decisions about their work lives.

What is the main message the script conveys about the side hustle revolution?

The side hustle revolution shows that people want to make a bet on themselves, embrace their multipassionate nature, and find happiness through various work endeavors.

How can side hustles be seen as an experiment in being one's own boss?

Side hustles offer an opportunity to test entrepreneurial skills and self-discipline before fully committing to running a business.

Outlines

00:00

🌟 The Rise of Side Hustles

This paragraph discusses the prevalence of side hustles among American workers, with around 15 percent not having traditional full-time jobs. It explains the evolution of the term 'side hustle' from its early 20th-century roots in African American newspapers to its modern meaning as legitimate, entrepreneurial work. The paragraph emphasizes the difference between a side hustle and a second job, highlighting the aspirational and opportunity-driven nature of side hustles. It also introduces the concept of being one's own boss and the entrepreneurial spirit of individuals who start side hustles, such as Nailah Ellis-Brown and Arsha Jones, who built successful businesses from humble beginnings.

💼 Embracing Multipassion and Self-Employment

The second paragraph delves into the reasons behind the popularity of side hustles, including the desire to be one's own boss and the recognition of personal discipline as a key trait of self-made millionaires. It suggests that side hustles are a trial run for those considering full-time entrepreneurship, allowing individuals to test their decision-making and accountability skills. The paragraph also touches on the idea of being 'multipassionate,' illustrating that side hustles are often started not out of dissatisfaction with one's job but out of a genuine interest in multiple areas. It uses the example of Lisa Price, who started her own business while still enjoying her television production job, to show that side hustles can be a way to explore different passions.

🚀 The Side Hustle Revolution and Personal Investment

The final paragraph of the script highlights the side hustle revolution as a sign of people wanting to invest in themselves and take bets on their own capabilities. It points out that side hustles are appealing because they allow individuals to take risks while still having a steady income. The paragraph also notes that many millennials with side hustles are open about them with their employers, seeing the value in the learning and growth opportunities that come with running a side hustle. It concludes by emphasizing the importance of finding fulfillment in one's career and the role side hustles play in allowing individuals to make decisions about their work lives, potentially avoiding career regrets.

Keywords

💡Side Hustle

A 'side hustle' is an additional job or venture outside of one's primary occupation, often pursued to generate extra income or fulfill a passion. In the video's context, it represents an entrepreneurial spirit and the aspiration to be self-sufficient. The script mentions Nailah Ellis-Brown starting Ellis Island Tea from her trunk and Arsha Jones creating Capital City Co Mambo Sauce, illustrating the concept of side hustles as a means to capitalize on opportunities and personal interests.

💡Traditional Full-Time Jobs

This term refers to the conventional employment arrangement where an individual works for an employer for a set number of hours per week, usually full-time. The script contrasts this with the growing trend of non-traditional work arrangements, such as part-time, contract, or temporary work, which allows for the pursuit of side hustles.

💡Aspirational

Aspirational describes something that reflects a strong desire or ambition. In the video, side hustles are described as more than just a necessity for income; they are aspirational, indicating a drive to achieve personal goals and dreams beyond the scope of a primary job.

💡Opportunity

Opportunity refers to a set of circumstances that makes it possible to do something or a favorable juncture for acting. The video emphasizes that people are identifying opportunities within their communities to start side hustles, showcasing a proactive approach to leveraging local resources and needs.

💡Self-Made Millionaires

Self-made millionaires are individuals who have achieved significant wealth primarily through their own efforts, rather than inheritance. The script points out that these individuals share a common trait of discipline, decision-making, and resilience, which are also qualities that can be tested and developed through side hustles.

💡Multipassionate

Being 'multipassionate' means having many interests or passions. The video highlights that side hustles are often initiated by people with diverse interests, not just as a result of job dissatisfaction. Lisa Price's story of starting Carol's Daughter while working in television production exemplifies this concept.

💡Entrepreneurial Spirit

Entrepreneurial spirit refers to the drive and determination to create something new or run a business, often involving innovation and risk-taking. The script uses the term to describe the mindset of individuals who engage in side hustles, embodying a 'scrappy' approach to seizing opportunities.

💡Accountability

Accountability is the state of being responsible for one's actions or decisions. The video mentions that self-made millionaires hold themselves accountable, a trait that is also valuable for those managing side hustles, as it involves making decisions and facing challenges.

💡Investment in Self

An investment in self refers to actions or activities that contribute to personal growth or development. The script suggests that even if a side hustle does not succeed, it still serves as a form of self-investment, providing learning experiences and personal growth.

💡Millennials

Millennials are the generation born between the early 1980s and the mid-1990s to early 2000s. The video notes that 41% of millennials with side hustles have shared this with their employers, indicating a generational comfort with the concept and its potential benefits.

💡Baby Boomers

Baby Boomers are individuals born during the post–World War II baby boom between 1946 and 1964. The script mentions that 38% of baby boomers feel some career regret, suggesting a contrast with the proactive approach of side hustles, which can offer a different path to career fulfillment.

Highlights

Around 15 percent of American workers don't have traditional full-time jobs, opting for part-time, contract or temporary work.

The term 'side hustle' fits the ethos of people combining different work opportunities to make a living.

The word 'side hustle' originated in African American newspapers in the 1920s to refer to scams, evolving to include legitimate work by the 1950s.

A side hustle is distinct from a second job, being more aspirational and embodying an entrepreneurial spirit.

Interviews with over 100 women of color reveal successful side hustles like Ellis Island Tea and Capital City Co Mambo Sauce.

Side hustles indicate an opportunity to serve specific communities rather than aiming to be the next big corporation.

The desire to be one's own boss is increasing, with side hustles providing a platform to test self-discipline and decision-making skills.

Self-made millionaires share the trait of accountability and perseverance, qualities that can be honed through side hustles.

Side hustles are not necessarily started out of job dissatisfaction, but can stem from a genuine interest in various fields.

Lisa Price's story of founding Carol's Daughter while working in television production exemplifies the multipassionate nature of side hustles.

Multipassion is about having multiple interests and finding joy in various outlets, not a lack of commitment to one's job.

Side hustles are a way for individuals to bet on themselves, investing in personal growth and learning even if the venture doesn't succeed.

41% of millennials with side hustles have informed their employers, showing a shift in attitudes towards entrepreneurial endeavors.

Side hustles contribute to a sense of fulfillment, as opposed to the career regrets felt by 38% of baby boomers.

The side hustle revolution highlights the pursuit of happiness through diverse work opportunities and self-directed career paths.

Transcripts

Transcriber: Ivana Korom Reviewer: Camille Martínez

I can't think of anyone who just has one interest in life,

and that's all they want to do for the rest of their life.

[The Way We Work]

Around 15 percent of American workers don't have traditional full-time jobs.

They're half-time, part-time, contract workers or temps.

The term "side hustle" just seems to fit with this ethos

where people are putting together a few different things to make a living.

The word "side hustle" has its roots in popular African American newspapers.

In the 1920s, these papers used the word "hustle"

to refer to some kind of scam.

By the 1950s, they were using "side hustle"

to refer to legitimate work, too.

A side hustle is a little different than a second job.

A second job is about necessity.

While a side hustle can certainly bring in extra income,

it's a little more aspirational.

Side hustle captures a certain kind of scrappy, entrepreneurial spirit.

I've interviewed more than 100 women of color

on Side Hustle Pro

who started successful side hustles.

Nailah Ellis-Brown started Ellis Island Tea out of her trunk.

Arsha Jones started her famous Capital City Co Mambo Sauce

with one product and a PayPal link.

All these women are running side hustles.

What exactly does this tell us?

First, that people are seeing opportunity within their communities.

The goal here isn't necessarily to be the next Coca-Cola or Google.

Scale is great, but there's also beauty in a successful business

that's built for a specific audience.

Second, people are increasingly interested in being their own boss.

Being your own boss takes discipline.

Self-made millionaires tend to have one big trait in common:

they make decisions, hold themselves accountable

and push through in the face of challenges.

A side hustle is a great way to try out being your own boss

and see if you have those skills before fully stepping out on your own.

Third, people are multipassionate.

I want to stress that not every side hustle is started

because someone hates their job.

Many are started simply because people are interested

in lots of different things.

Lisa Price, who started a hair and beauty company, Carol's Daughter,

was working in television production when she started side-hustling.

She says she actually loved her job.

It was the fact that she came home every day feeling good

that led her to start experimenting

with making fragrances and hair oils in her kitchen.

We're always being taught

that we're supposed to know what we want to do when we grow up.

But when you're multipassionate,

you want to dip and dabble in those different things.

It doesn't mean that you're not committed to your job,

it just means that you have other outlets that bring you joy.

And that brings me to the final thing the side hustle revolution shows us:

people want to make a bet on themselves.

Side hustles are appealing because it's easier to take that chance

when you have some kind of income coming in.

Even if a side hustle doesn't take off,

it's still an investment in yourself.

Forty-one percent of millennials who have a side hustle

say they've shared this information with their employers.

They're not worried about their managers reacting negatively.

They recognize all the learning and growth that comes with running a side hustle.

Everyone is looking to feel fulfilled.

Thirty-eight percent of baby boomers feel some kind of regret about their career.

No one wants that.

The truth is that there are many different ways to find happiness

through what we do.

Side hustles are about embracing that hope

that we can be the ones making the decisions

in how we spend our work lives.