You Dont Need 15 Side Hustles to Make Money — Just do 1 Thing Well and Diversify
I just finished reading a piece written by Michiel Schuer about how he hopes to bring in 100k this year through his side hustles.
In the article he sites eight different ways he’s trying to make money. And while I can respect the desire to hustle, I have to wonder if it’s the right message to be sending.
A Jack of all trades
I am of the mindset that a Jack of all trades does none well. That doesn’t mean you can’t make money off of each avenue, but how much are you making for the time? Remember, time is money!
Let’s dissect this. He has a full-time job where he makes a steady income. That’s a standard 40 hours a week I assume. Then factor in that he’s doing YouTube, adding designs to his online reselling portfolios, writing on Medium, and his other side projects. Let’s guestimate another 15–20 hours a week?
Even with some of the income being “passive” he still has to spend time to manage it.
Doing the math. He’ll work between 2860–3120 hours this year based on 55 and 60 hours a week respectively. This comes out to between $34 and $31 an hour. But that’s before taxes!
It seems he lives in the UK, which Google tells me has a tax rate of between 34…
