Working on a side hustle of your own? The Dragons have some advice for you

The debate about side hustles heats up during this season’s special episode. Although the details of what a side hustle actually entails may vary, the Oxford English Dictionary defines it as “a part-time job or occupation undertaken in addition to one's regular employment.” And while working on an endeavour on the side may seem like a great way to start up a brand new business, it’s a bit of a divisive topic with the Dragons. They all seem to agree that entrepreneurs shouldn’t invest in a side hustle for too long before their passion becomes a full time pursuit.

Here’s what they have to say, and they didn’t hold back.

Arlene Dickinson

“Try to go all-in to the business sooner rather than later because you can’t really commit to two things all the time.”

To start, Arlene is not a fan of the term itself. But, for anyone working on the side to start a business, the sooner you go all-in, the better. She explains it’s not sustainable to be able to do both for too long, so at some point something gives. Not only do you owe it to the person who’s employing you, but you owe it to yourself.

Vincenzo Guzzo

“Companies and products are like children — it’s a full-time job.”

Some words of wisdom before you talk to Vincenzo about your gig on the side: he’s not a big fan either. It bothers him when someone tells him their pitch is a side hustle, because he feels like any business you’re passionate about deserves to be your full-time priority.

Manjit Minhas

“Being an entrepreneur is taking risks each and every day.”

Manjit also believes a side hustle shouldn’t be a side hustle for very long if you expect to be successful. She says it’s a great way to start something to determine if it could be a business you’re passionate about, but sometimes you have to take risks.

Jim Treliving

“I think anyone with a side hustle really has to work hard and focus all the time.”

Jim believes that a business on the side needs tons of attention.

Lane Merrifield

“It they’re not actively making it their primary [business] for whatever reason, they should just go find something else to do.”

Lane has seen people think that their business on the side will somehow turn into their primary business, but he thoroughly believes it has to actively be your main priority in order to succeed.

Michele Romanow

“You want to be able to see that you have enough traction on your idea, you have enough growth and hopefully, you have enough revenue to sustain yourself and leave your job.”

Michele also sees side hustles as a means to an end. When she first started Buytopia, it was a side hustle, but when she saw enough traction, she left her full-time job to pursue and fully commit to the growing business.

 

Watch the Dragons' Den Side Hustle special now»