4 Reasons a Second Job Might Make More Sense Than a Small Business

Entrepreneurship isn’t always the answer.

Having a small business may be all the rage these days. But they’re not the only ways to achieve your personal and financial goals.

Sometimes, working a second (or even a third job) might make more sense.

After thinking about my goals, I realized that a part-time job is right for me.

Here are four reasons why working an extra job might make more sense than starting/growing a small business.

Reason 1: You need “now” money.

You may not make enough from your full-time job to finance your lifestyle. In that case, you definitely need a second income.

Side hustles like Uber driving or dog walking can lead to instant money. But those things aren’t for everyone. You might not be into animals. Or you’re not interested in driving people or food around town.

In those cases, a second job is a better bet.

However, you could also benefit from a second job even if your full-time job pays all your bills.

In my case, I aim to go into semi-retirement by the time I reach my mid-40s.

Growing a business to a point where it can provide substantial income takes time. I could use that time to work a second job and make money faster.

Having a second job doesn’t mean quitting the idea of starting a side hustle.

In the meantime, you can delay it or devote tiny chunks of time to growing a side business.

Even though I’ve taken a part-time job, I don’t intend to quit growing a business.

I plan to spend several hours a week building my online presence, which I can leverage in the future.

I might not make much money now from entrepreneurship. But I’m treating my efforts as an investment rather than a quick fix for my financial needs.

Reason 2: You’re willing to put off having a business or temporarily sacrifice its growth.

Running a small business requires patience and strategic thinking.

It’s hard to be patient or strategic when constantly pressuring yourself to succeed.

I’ve focused on growing my online side hustle for nearly two years. And I’m proud of the progress I’ve made.

But part of me feels burned out.

I try to deny it, but I’ve set my expectations too high. Lately, I’ve started to get impatient because I’m not achieving my goals as quickly as I’d like.

Starting a second job could relieve some of the pressure I’ve placed on myself. That means I can focus on enjoying the journey of growing a small business.

As counterintuitive as it seems, stepping back a bit from entrepreneurship might be the best thing you can do for your small business.

And if you’re wondering if it’s possible to start a side hustle while working, you can. Justin Welsh built his multi-million dollar online side hustle in under a few hours per week.

Reason 3: You can’t decide which business to start or focus on.

Raise your hands if this sounds like you:

You hear about a business idea and get all excited about it, only to change your mind and lose interest shortly after.

Don’t worry. You’re not alone.

I’ve tried different businesses — freelancing, affiliate marketing, digital products, you name it. Sometimes, I’ve even tried multiple businesses at the same time.

None of them stuck.

I know I have to get better at staying focused.

But while I’m learning to become more decisive, I could simultaneously work toward my financial goals by working a second job.

Another benefit of working a second job is that it will limit my time building a business.

That’s a good thing, believe it or not.

We have a hard time deciding which business to focus on because we probably have too much time on our hands.

I know that’s true for me.

Though stressful, my full-time job gives me ample time to pursue other things.

That’s a good thing, but it could be why I tend to try too many things at once.

Starting a second job could fix my lack of focus because now, I’ll be forced to spend my time more responsibly.

So if, like me, you’re prone to distractions and launching businesses you can’t follow through, a second job that limits your free time might be just what you need.

Reason 4: You want a fallback option.

There’s no such thing as job security. Never was. Never will.

The tech layoffs this year are not an anomaly. People losing their jobs is a fact of life.

It might not be you who gets canned today. But maybe tomorrow, it will be.

Loyalty, hard work, and productivity don’t guarantee you’ll keep your job forever.

Owning a small business is one way to hedge yourself against unemployment. But it’s not the only way.

A second job can provide you with immediate cash flow. It could also lead to a full-time opportunity if you need it.

Moreover, a second job can broaden your professional network, which can open up more opportunities.

This isn’t the first time I’ll be working multiple jobs. In every position I’ve taken in the past, I got to know more people.

Some of these people have not only become friends, but they’ve also later helped me to land jobs easily.

So, is it better to work a second job or start a side hustle?

The answer is: it depends on you.

What do you want to accomplish?

If you need quick money, a business will probably disappoint you.

Any business requires time to grow. And you’ll likely burn out or make bad decisions if you try to make money with entrepreneurship too fast.

That said, working multiple jobs can be stressful. Overdoing it can also affect your physical and mental health.

I will only work a second job until I reach my financial goals in the next few years. I don’t want to hustle forever.

I also intend to take regular vacations and maintain my weekly exercise routine.

The bottom line is there are benefits and downsides regardless of whether you choose to work a second job or have a small business.

That means you can choose either.

What’s important is to align your decision with your short-term and long-term goals.

Don’t let others push you to go one way or another.

It’s your life.

You design it the way you want it.

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