The Power of Side Businesses: Redefining Careers and Employability
Opinions expressed by Entrepreneur contributors are their own.
Introduction
In this fast-paced world where multiple revenue streams are increasingly being embraced, side companies unrelated to one’s main line of work have become the prevailing models. However, this trend has also given rise to a long series of business scams, as people try their hand at side hustles for which “no experience is required.”
In a personal experience detailed below, we will explore a new paradigm that has the potential to redefine how both employers and job seekers approach their career journeys and how to start new businesses.
A Story of Success: NanoGlobals
NanoGlobals started as a humble endeavor in 2020, born out of the desire to pursue a side business while locked inside during a global crisis. Rather than choosing a part-time company unrelated to their core background, the founder quickly recognized that a side business could be a powerful extension that amplifies their unique value proposition.
Fast-forward to 2023, and NanoGlobals has evolved into a strong-branded, authoritative B2B asset with over 60,000 monthly visitors and citations in prominent media outlets like Business Insider and The Yale Law Journal.
The Value of Side Businesses in Career Journeys
Leaving a previous job often raises questions and uncertainties, especially when it comes to pursuing a side venture full-time. However, the story of NanoGlobals showcases a different approach. When the founder had the opportunity to join Formula.Monks, a digital operating brand backed by S4Capital, the hiring process focused not only on their core skills but also on the value their side company could bring.
This experience highlights a paradigm shift where employers no longer have to choose between pursuing their passions and securing their dream job. Instead, side businesses that align with one’s career aspirations can usher in new realms of employability, showcasing versatility, adaptability, and an entrepreneurial spirit.
The Synergy Between Side Businesses and Professional Growth
In the ever-evolving digital landscape, functional expertise alone is not enough to succeed. With AI disrupting various industries, individuals who can navigate and thrive in different realms, such as construction and sales, have a competitive advantage.
By successfully managing a side hustle, individuals demonstrate their ability to handle multiple responsibilities and showcase valuable skills sought after by future employers. This synergy between side businesses and professional growth can propel one’s career to new heights.
Expert Insights and Practical Examples
To dive deeper into this topic, let’s explore some expert insights and practical examples that shed light on the power of side businesses in redefining careers and employability:
1. Creating a Harmonious Symphony of Skills
Employers are increasingly recognizing the value of individuals who possess a diverse range of skills. By intertwining a side business with their main line of work, professionals can create a harmonious symphony of skills that captivate employers. This fusion of talents sets applicants apart from their peers and showcases their ability to adapt and excel in various roles.
Example: A marketing professional who runs a successful e-commerce store on the side demonstrates not only their marketing prowess but also their abilities in sales, customer service, and business management.
2. Redefining Success for Companies
Traditionally, success for companies was often measured by financial milestones like initial public offerings (IPOs). However, the rise of side businesses presents a new definition of success. Companies can now view acquisitions of side businesses as an alternative path to growth and expansion, unlocking new potential and opportunities.
Example: A software development company acquires a side business that specializes in mobile app development, allowing them to diversify their service offerings and tap into new markets.
3. Adaptability and Versatility in the Digital Landscape
The digital landscape is constantly evolving, driven by advancements in artificial intelligence (AI) and automation. Professionals who can navigate these changes and adapt to emerging trends have a significant advantage in the job market. Side businesses provide a platform for individuals to explore new technologies and stay ahead of the curve.
Example: A graphic designer who runs a side business creating augmented reality (AR) experiences showcases their ability to leverage cutting-edge technology and demonstrates a forward-thinking mindset.
4. Problem-Solving and Entrepreneurial Mindset
Entrepreneurship is often associated with problem-solving and an innovative mindset. Through side businesses, individuals develop these qualities and foster an entrepreneurial spirit, even within the confines of traditional employment. This makes them valuable assets to companies seeking to drive innovation.
Example: An engineer who runs a side business developing sustainable energy solutions showcases their problem-solving skills and demonstrates a passion for creating impactful change.
The Power of Synergy: Blending Side Businesses and Careers
The success of NanoGlobals and the insights from various experts highlight the immense power of blending side businesses with careers. To fully harness this power, professionals should adopt the following strategies:
1. Identify Your Core Skills and Passion
Reflect on your core skills and passions and identify how they align with your career aspirations. This alignment will lay the foundation for a successful side business that complements your professional growth.
2. Continuously Learn and Adapt
Stay updated with the latest industry trends and invest in learning new skills. Continuous learning and adaptation will help you navigate the dynamic digital landscape and ensure that your side business remains relevant and impactful.
3. Network and Collaborate
Leverage your side business as a networking tool and collaborate with professionals in your industry. Building connections and partnerships can open doors to exciting career opportunities and enhance the growth potential of your side business.
4. Embrace Failure and Pivot
Failure is an inherent part of entrepreneurship, and it should be embraced as a learning opportunity. If your side business doesn’t go as planned, be open to pivoting and exploring new avenues that align with your skills and passions.
Conclusion: Embracing the Power Within
In an era defined by disruption and innovation, it’s time for entrepreneurs to rewrite the rules and unlock their full potential. Side businesses have the power to redefine careers and employability, showcasing individuals’ adaptability, versatility, and entrepreneurial spirit. By embracing the synergy between side businesses and professional growth, professionals can create a unique and fulfilling path that sets them apart in the ever-evolving digital landscape.
So, don’t be afraid to intertwine a side business with your main line of work. Embrace the power of synergy, continuously learn and adapt, network with like-minded professionals, and be open to embracing failure as a stepping stone towards success. By doing so, your employability will skyrocket, paving the way for a rewarding and fulfilling career journey.
Summary
Side businesses have become increasingly popular in today’s fast-paced world, offering individuals the opportunity to pursue unique ventures alongside their main line of work. However, not all side businesses are created equal, and success depends on aligning one’s core skills and passions with the business endeavor. NanoGlobals, a side business that started in 2020, serves as an example of how a side business can evolve into a successful B2B asset, offering valuable career opportunities.
Employers are beginning to recognize the value of side businesses, not only for the skills they bring but also for the entrepreneurial mindset and adaptability they demonstrate. As the digital landscape continues to evolve, individuals who can navigate these changes and excel in multiple domains are highly sought after. Side businesses provide a platform for individuals to showcase their problem-solving skills, innovation, and ability to stay ahead of industry trends.
To fully harness the power of side businesses, professionals should identify their core skills and passions, continuously learn and adapt, network with industry professionals, and embrace failure as an opportunity for growth and change. By incorporating a side business into their career journey, individuals can redefine success, unlock their full potential, and stand out in the competitive job market.
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Opinions expressed by Entrepreneur contributors are their own.
In this fast-paced world where multiple revenue streams are increasingly being embraced, side companies unrelated to one’s main line of work have been the prevailing models. However, this trend has also given rise to a long series of business scams, as people try their hand at side hustles for which “no experience is required.”
A recent personal experience detailed below, I hope, may be fuel for a new paradigm, one that has the potential to redefine how both employers and job seekers approach their career journeys, and particularly how start new business.
nanoglobals it started as a humble endeavor in 2020. Locked inside and with a lot of time on my hands, like many, I chose to pursue a side business. While I was enormously grateful to have kept my main source of income, a time like 2020 offered me an opportunity to reflect, including on how to face tomorrow’s crises with stability and confidence. Rather than go down the usual path of a part-time company unrelated to my core background (dropshipping was the flavor of the month at the time), I quickly recognized that such a side business didn’t have to be disconnected from the core outsourcing and remote work skills I’d built over the previous decade. Instead, it could be a powerful extension that amplifies my unique value proposition.
Related: 10 trending side hustles on TikTok. Are they good for you?
Fast-forward to 2023, and NanoGlobals has grown to over 60,000 visitors a month, a strong-branded, authoritative, consistent revenue B2B asset that has been cited in US media. Business Insider to The Yale Law Journal.
Upon leaving my previous job, one question weighed on my mind: whether or not to take this new venture full-time, and I ended up pursuing it that way for a while. However, as is often the case, a job opportunity arose: the opportunity to join Formula.Monksthe technology backbone of Media.Monks, the first digital operating brand of London-based S4Capital.
It sounded great on paper: a new brand in my domain of professional technology services, one with the resources of a global conglomerate. But one nagging question lingered as I participated in the hiring process: What would happen to NanoGlobals? Unexpectedly, those thoughts were dispelled during recruitment discussions which ended up focusing on the value my side company could bring to Formula.Monks, as well as my inherent skill set. I realized something other companies, job seekers, and employers should take note of: I was not being hired. although my side adventure but because of that
I’ve come to understand that adopting a side company that aligns with one’s career aspirations can usher in new realms of employability—that employers no longer have to choose between pursuing passions and securing their dream job. This paradigm shift can help them redefine what success looks like for their companies: It doesn’t have to be an IPO, it could be an acquisition. It is possible to meld the two seamlessly, creating a harmonious symphony of skills that captivates employers and sets applicants apart from their peers, demonstrating versatility, adaptability and an entrepreneurial spirit.
This approach can be a particularly powerful asset for people who are striving to excel in the ever-evolving digital landscape, where simply having functional expertise is not enough. With AI disrupting several white collar professions, the key to success is navigating and thriving in the worlds of construction and sales. If you produce a successful side hustle, you show future employers that you can do both.
Related: 4 AI trends that have helped the creator economy (and how to take advantage of them)
So my advice is simple: don’t be afraid to intertwine a side business with your main line of work. Embrace the power of synergy and your employability will skyrocket. In an era defined by disruption and innovation, it’s time for entrepreneurs to rewrite the rules and unlock their full potential.
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