We all have heard about virtual reality, and how it’s transforming almost every industry, be it the hospitality or travel industry. But did someone ever wonder who pioneered VR? It was a side project! And there are numerous side projects earning a hefty amount and getting proper recognition. Even the abstract expressionistic art was a side project, which is now considered as one of the best artworks. Young generations nowadays consider working on their skills and hobbies apart from their routine job, and this hobby will surely pay a hefty amount in the future!
What is the side project?
A side project is something a person does apart from his routine job and adds extra revenue through it in the income. But a side project requires much more passion and dedication.
A side project can be anything, a blog or writing code or doing some artistry work, designing, and many things. Because the regular job never allows a person to dive into too many tangents, in the future, these side projects will be creating jobs for millions of youngsters with new energy.
A side project requires experimentation, inspiration, curiosity, energy, and too much effort, but it will surely pay off!
At the start, some people will surely fuzz out because of less payment, but in the future, all the market will care about creativity and passion, and a side project is what every industry will ask for.
Future of the Side Project Industry:
With too much of popularity of the side project industry nowadays, below given are some changes which will be seen in this industry:
Keen and acute Competition:
The most popular side project job in the future will be related to blog writing, podcast creation, games and app development, graphic designing, and multimedia. And the competition will be more robust because there will be many individuals who will go for these side projects.
According to the career planner blog, it’s estimated that graphic designing will increase by 5 percent in the future, and there will be a fierce competition among all the players.
Whereas the software and the gaming development side project will gain higher revenues because of increasing demands in video games, and also there will be a significant impact of Artificial Intelligence in the future.
More than thousands of side businesses have emerged as an independent business until now.
Apple, Hubspot, Instagram, Udemy, and Khan Academy were all side businesses when they started.
It’s no doubt that side hustle can give a lot, it’s the same as more the hustle, and more the gain. The history of all these side businesses is very surprising to read. And in the future, it’s expected that there will be lots of independent businesses because people will rely more on side business than on their job!
Use of advanced technologies:
As the whole world will become dynamic and highly competitive, all the side business will be driven by technology. The competitive nature of every side hustler will depend on how effectively they will be using technology.
Every side hustle, like podcast creation, graphics designing services, web designers, web content writers, and financial planners, has to be aware of how to use the technology optimally in the future.
High scale experiments:
Creativity will be dominant, and every business will tend to do high scale experiments. This might be a barrier to the side hustler because they will have to work rigorously on improving themselves.
Intellectualism and curiosity will be the game-changer of a side project industry.
Devaluation of 9-5 job:
There’s a chance that the 9-5 job trend will change in the future because the productivity in these restricted hours is very less. A side business will be opted by many because they will like working more in a place where they love working.
Most of the industries have stopped this trend of 9-5, and have seen increased productivity. Also, there are many reasons displayed in this post. And as there will be no restrictions at the workplace, every individual will have sufficient time to work on their hobbies and skills!
Is It Worth It To Go To The Side Project Industry now?
It’s undoubtedly the right time to step into the side project industry because a visible growth in this industry is seen in the future. Most of the companies allow their employees to work on their skills, apart from the job. The best example for this is Google
Google not only gave its employees 20% of the office hours to work on exploring skills but also Gmail, Google News, and Adsense is the outcome of this step!
A side business could give a real punch of growth in the future if it started now because the paradigm of the future will be creativity!