The Emergence of Side Hustles: The Latest Trend in Entrepreneurship

In today’s fast-paced world, the traditional 9-to-5 grind is no longer the only path to success. Entrepreneurs are rewriting the rules, making business fit their lives rather than the other way around. The rise of side hustles is a testament to this shift, proving that you don’t need to dive headfirst into entrepreneurship. You can start small, test your ideas, and grow at your own pace.

One inspiring example is Madison Stefanis, the founder of 35mm Co. Her journey began when she sold an old SLR film camera for $250 during her first year of college. Recognizing Gen Z’s love for nostalgia, she turned this idea into a successful vintage-style, reusable film camera brand that now generates over $4 million in annual revenue. Despite balancing school and her side gig, Madison achieved seven-figure success while still in college.

For Madison, dropping out of college with only one semester left was an easy decision. She believed that the real-world experience of running a business was more valuable than sitting in a classroom. Four years after launching 35mm Co., the 23-year-old moved from Melbourne to New York City to expand her brand in North America.

The trend of side hustles is not limited to a specific age group. Around the world, 35% of entrepreneurs are managing their businesses alongside regular 9-to-5 jobs, with 18% starting as side hustles before transitioning to full-time entrepreneurship. Young adults aged 16 to 24 are leading this movement, with 50% engaging in side hustles—double the rate of those over 55. This shift highlights that entrepreneurship is now a diverse and flexible journey tailored to individual preferences.

Lesson 1: Growing a side hustle requires a delicate balance. Madison Stefanis and Domonique Brown, founder of DomoINK, both juggled their businesses while managing other commitments. Madison packed orders from her parents’ living room while attending school, emphasizing the importance of discipline and time management. Domonique meticulously planned her days, setting boundaries between her 9-5 job, side hustle, and personal life. Both entrepreneurs leveraged social media to scale their businesses and reach a wider audience.

Lesson 2: Knowing when to transition from a side hustle to a full-time venture is a crucial decision. Christy Dawn, a former model, and her husband, Aras, faced this dilemma when starting their regenerative fashion label. They strategically managed their finances, reinvesting profits back into the business until they could sustain themselves full-time. Building a team and focusing on financial management were key lessons for Madison Stefanis, leading to her successful expansion into major retail stores.

Entrepreneurship is not a one-size-fits-all journey. Each individual’s path is unique, shaped by their passion, practicality, and personal circumstances. The stories of Madison, Domonique, Christy, and Aras highlight the diverse approaches to entrepreneurship and the importance of finding a balance between ambition and pragmatism. As the landscape of work continues to evolve, the beauty of entrepreneurship lies in its adaptability and the freedom to create a career that aligns with one’s values and goals.