[Ask TBM] What are the Benefits of Starting a New Business as a Side Hustle?
We asked Kelvin Yu, the owner of Narra Wooden Watches, about the benefits of starting a business as a side hustle versus pursuing it full-time.
With the revenue in the e-commerce market projected to reach 18.16 billion USD (approximately PHP 1.003 trillion) this year, it is no surprise that many aspiring entrepreneurs have considered starting their own businesses. And if you add the popularity of e-commerce platforms, social media, and instant delivery services, the idea of starting a business has become more and more appealing.
However, starting a new business is easier said than done—especially for full-time employees and students. After all, giving up a full-time job or time that can be allocated for studies is a huge risk, and the payoff is uncertain too, as it will all depend on the success of the business itself. This can cause some to hesitate and put off starting a business.
But did you know that you can balance both a new business and your full-time job or studies? For those who aren't sure how, we asked Kelvin Yu, the owner of Narra Wooden Watches, for his input, tips, and advice as an owner of a business that currently serves as his side hustle.
Why did you decide to start a business as a side hustle instead of a full-time business venture?
In 2018, I was in my penultimate year in a business course [at] UP Diliman, when a lot of my graduating friends were eagerly applying for jobs. That made me think about my upcoming career after graduation. After spending some time reflecting, I realized that I wanted to eventually run my own small and medium-sized enterprise (SME) in five to ten years.
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