Leaving a secure 9-5 for the uncertainty of entrepreneurship takes guts – and a flair for the dramatic. Those who boldly walk away from comfortable jobs to embrace the freedom of becoming their own boss believe in their dreams, and are willing to risk their financial security and personal comfort for a business idea. Unfortunately, the well-meant drama of quitting a job can backfire on the most passionate entrepreneur, and leave them without a steady income, savings, or the means to pay their accumulated bills. I’ve mentioned this before, but it’s worth noting again: According to statistics provided by the Small Business Administration, about half of all small businesses go under within their first five years – and only a third survive past a decade. It’s all well and good to aspire to entrepreneurial freedom, but is the drama really worth the risk?
The answer? Start a side hustle.