An entrepreneur from Preston is encouraging people to consider embarking on a side hustle during 2020.Advertisement
Richard Fletcher successfully turned his own side hustle – an American term for an entrepreneurial venture that runs alongside a regular job – into a full-time career, after being laid off.
Now Richard believes that the Brexit uncertainty facing the UK makes this the perfect time for others to consider branching out.
Richard said: “A few years ago, I decided to begin working for myself alongside my job as a contractor for BAE Systems. This was to ensure that if work dried up, I wouldn’t find myself high and dry financially.
“I knew that something drastic was going to happen to the future of the country, but I wasn’t quite sure what. Of course, people will tell you that it’s a terrible time to start a business, but I stuck my neck out and started a consultancy while I was still working.
“It’s the best thing I could have done because when the company didn’t want to renew my contract, all I had to do was turn my side hustle into my main job, rather than starting all over again in a competitive job market.”
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Richard now runs an international coaching business from home, and believes the best approach is to offer a service without geographical boundaries.
He said: “My advice is to look at working online or remotely if possible, in order to ensure a steady flow of work.
“There are lots of people setting up businesses teaching English for example, or other types of online tuition. You can create things at home and sell them worldwide. Some people even have a side hustle reselling things on eBay or letting out their spare room on Airbnb.
“My own clients are mainly from Australia and the US. I knew I couldn’t rely on the local area for work, so I cast my net very wide. The great thing is, my money comes from thousands of miles away, but I spend most of it right here in Preston.”
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Richard believes anyone who is worried about the future should start a side hustle as soon as possible.
He said: “It might mean studying or starting a new business, or beginning a part-time job alongside your main job.
“Nobody knows for sure how this is going to pan out, and some people will sadly be hit hard by the changes ahead. However, there are people who can use this as an opportunity to start the business they always wanted, be their own boss and take control of their future, perhaps without having to rely on the local economy.
“Doing well for yourself and spending that money in the local area can only be a good thing for Preston.”
To find out more about Richard and his business, visit Magic Sauce Marketing.
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What do you think of the idea of a side hustle? Do you have one or would you get one? Let us know in the comments.