What are the benefits of a side hustle? This month, Mahmood Mawjee, the Mindset Expert discusses how you can get started while working as a dentist.
A successful side hustle offers many benefits.
It is extremely rewarding and empowering. Plus, it is an extra source of income to boost or supplement what you earn as a dentist.
This is really important for building your confidence and allowing you to practise dentistry in the way you want.
Knowing that dentistry is not your sole income frees you from the fear of losing it should anything leave you unable to work as a dentist for any time. It also gives options for the future, which can be both exciting and motivational.
Ultimately, a side hustle provides fulfilment. You may be incredibly busy as a dentist, but that doesn’t mean you can’t have other interests.
You have to try lots of different things to find what you’re passionate about. When you know this, you can look for ways to utilise your talents and create a side hustle that will create a new income stream.
As such, a side gig will diversify and supplement your income. As well as this, it will give you confidence and freedom in dentistry, you will learn new skills or industries, and get you out of your comfort zone for personal growth.
You could even use this as an opportunity to test your business model in case you decide to dedicate more time to it in the future – reducing your hours in practice or using it as income after retirement from dentistry.
Creating a viable side business
How you turn your passion into a side business will depend on what it is you enjoy doing.
If you love teaching, you could create a training programme to help colleagues develop clinical skills. Think about the topics or techniques you would focus on, your target audience, the financial implications, marketing options, format and group size to get you started.
If your interests are outside dentistry, do something similar.
Enjoy investing and keeping up with the stock market? You could teach others to be successful in the field through Youtube or webinars and charge a subscription to your services.
If you are passionate about sustainability and developing eco-friendly solutions, find a way to manufacture items and sell them online.
A viable business needs to be unique or plug a gap in the market.
To make it work, market research and planning will be crucial. These will ensure you have the right mindset to make your side hustle a real success.
Action points
- Try something new once a week for the next month. Think about your interests and utilise them in some way until you find what you are most passionate about
- Consider how to turn your passion (or your top interests if you’re still deciding) into a side business. What services or products can you offer and how would you receive an income for this?
- Start creating a business plan with practical points on what needs to be done and how, with an estimate of the financial implications.
For advice and support to help you really make this happen, the Re-ignite Academy provides a programme designed specifically for you. My team and I have first-hand experience on how to start a side hustle and turn it into something that will change your life.
Read previous Mindset Expert columns:
- The two traits of a great dentist
- Poor mental health ruining your life?
- The entrepreneur approach – it’s all in the mindset
- Don’t let difficult relationships make your life miserable
- Is growth in dentistry directly linked to happiness?
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