Skip to main content

Two Types of Hustle

The core purpose of what you do is the one thing that need not change.

What kinds of "hustle" are there?

What kinds of "hustle" are there?

Hustle is used in a few contexts with slightly separate meanings, so I want to be clear. I am not referring to any illegal activity. I use "hustle" to refer to actions taken above and beyond the basics to increase your income.

Many use "hustle" simply meaning to move quickly: take the kids to practice, wash dishes faster, etc. While these activities require the same level of energy and ideally have an ROI on your time, they do not provide revenue.

Type 1: Multiple Revenue Streams

The first type of hustle is having multiple revenue streams.

Second Job

A simple way to achieve this is to have two jobs. If you are starting out in your career, one of the simplest (though not easy) methods of hustling is to get two jobs. If you have not started your career, then work two part-time jobs anywhere you can. If you're working 30 hours a week at each job, then your income will skyrocket as you're getting paid for 60 hours a week, which is more than most companies allow.

True, you're not getting any overtime pay, and if your overtime pay for one job outweighs the income of two jobs, then go ahead. However, most companies would avoid this possibility because it would be cheaper to hire a second part-time employee. They simply get more ROI that way.

If you have started your career, then you're going to have your job and a side-gig. The emphasis here will have to be on your career, but even working three hours a night, five days a week will still provide a useful revenue stream. Additionally, you'll develop skills through this second job that will cultivate and encourage your career.

Content Creator

In the digital age, many have begun receiving revenue for non-job-related activities. Social media influencers, bloggers, YouTubers, etc., have been popping up because it has become a legitimate method of attaining revenue streams. Many, like myself, can spend one hour a day building content.

Scroll to Continue

Read More From Toughnickel

Instead of being paid hourly, however, you are paid an increasing amount over time. In other words, this is a low short-term return but high long-term return as your first few months may have no revenue but after a few years can provide hundreds of dollars per "hour."

Investing

Investing does not require as much energy as what we tend to associate with the "hustle" mentality, but it qualifies as being a second revenue stream for your efforts. Investing today is easier than it's ever been due to the multitude of applications with low barriers to entry. You can invest with as little as $5, sometimes getting that for free with new apps. My recommendation is to invest a moderate risk/return investment that you can easily pull your money out of.

While most investors will give advice on when to pull money based on the market, my recommendation is to use this as a sinking fund, meaning you invest and get what returns you can, then pull it when it is enough to make the large purchase you're wanting. In other words, the goal isn't to time the market but to leverage the tools for something you're already working for.

two-types-of-hustle

Type 2: Improve Yourself

The second type of hustle is improving yourself. You are spending the effort and energy to improve your ability to make money rather than improving your current revenue.

Formal Education

The easiest way to improve your ability to make money is education. While there's a lot of debate about the benefit of college and weighing it against debt, there are benefits to having an institution certify your skill sets. This certification can, but does not have to be a university. LinkedIn, Google, Indeed, and many others have programs where you can formally learn and become certified in a skill set that can be reflected on your resume.

Informal Education

Another way to improve your ability to produce income is by learning skill-sets outside of the classroom. Work a job that provides on-site training for a skill that will help you in your career. For example, last year, I took a job managing an organization's website. While the pay was certainly welcome, the key benefit I received was learning website design which I can now apply to my career.

The rule of thumb is to work an entry-level job in an industry adjacent to yours. While my website design skills are entry-level at best, what little knowledge I have has helped me perform in my career because I can better communicate with and develop plans for the designers in my department. I have the ability to understand and empathize with their perspective, which allows me to perform my duties at a higher level.

Which Should I Choose?

Whenever possible, you should focus on the second form of hustle. Improving yourself has the greatest long-term return on your investment by far. However, these strategies are not always available to you. Whether there's no opportunity or the opportunities are simply not beneficial to you, that's when you focus on the first type. The first type is a placeholder, allowing you to get some extra cash and experience until a better opportunity arises.

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

Related Articles