The power of a side hustle in dentistry
Featured Products Promotional FeaturesPosted by: Dental Design 21st October 2022
- Why would I want to start a side hustle?
- What emotional and monetary benefits could this bring?
- Is it even possible to do while still working as a dentist?
Building a side hustle alongside your dentistry can be extremely rewarding. It’s a source of extra income and a way to bring more joy into your life. It is also incredibly empowering and will help you grow your confidence exponentially.
Why even think about a side hustle?
As a dentist, you care deeply about patients and providing exceptional care. However, being a dentist might not be everything that you are. You may have talents or interests in other areas that you wish to pursue. Spending more time doing the things you love will make you happier in work and in life.
It is also really important not to be reliant on only one source of income. If anything happens and you are unable to work as a dentist, it offers huge comfort to know that you can earn a living in a different way. Once you are no longer fearful of losing your only income, you will be free to practise how you see fit, confident in the knowledge that you have other viable revenue streams to protect your standard of living.
I understand that some of you might be thinking “how am I supposed to set up a side business when I’m so busy in practice?” Dentistry is a demanding and often time-consuming profession. There is much to do all the time from treatment planning and patient management to marketing, business development, team organisation and more.
However, just because you’re busy, doesn’t mean you are completely fulfilled. That’s why a side hustle could change your life.
The added benefits include:
- Diversify and supplement your income
- Have confidence that you aren’t reliant on income from dentistry alone and are free to change your career path if you wish
- Learn new skills or industries for exciting new opportunities
- Test the waters for something you may want to dedicate more time to in the future, whether going part time as a dentist or continuing into retirement from dentistry
- Get out your comfort zone and grow as a person
How do you get started with a side hustle?
To get started, you need to find your niche. Decide what you enjoy most or have a natural flair for. Then find a practical way to turn your skills into a viable business.
If you enjoy teaching and helping others improve their skills, could you create a training programme to deliver to colleagues? Think about the topics or techniques you would focus on, your target audience and the financial implications. Market research is crucial – look online, speak to other dentists or reach out to friends in the wider profession. Where you can offer something unique or take an idea that exists and do it better, there is room for success. Consider practical details such as location, financial planning, marketing options etc.
Alternatively, your second interest may be outside dentistry. For instance, do you enjoy investing and keeping up with the stock market? Maybe you are passionate about sustainability and developing eco-friendly solutions. Could you turn these interests into a webinar series or YouTube channel to offer advice for others, making money through subscriptions or advertising? Could you run online courses to share your knowledge, or manufacture items to sell through online retail platforms?
Don’t be afraid to think outside the box and really play to your strengths.
A positive mindset
There is no getting away from the fact that establishing a side hustle is hard work. It will take time, a love for what you do and likely a monetary investment to get started. You will need support, a positive attitude and the right mindset to succeed. However, the benefits are definitely worth the work.
Here are some action points to be proactive and make a positive start on your side hustle:
- Most people think they should know what their passion is or worry when they don’t. The reality is that no one knows what their passion is until they have tried lots of interests. So, try new things to find what you are passionate about.
- Once you have identified your passion and established how to turn it into a tangible activity, make a business plan. It should outline your service or product, how you will market it and to who, what time you can dedicate to it on a weekly basis, and what the initial financial situation will look like.
- Start small, but get started. Can you make a prototype, design a programme or test your idea on friends or colleagues? Honest feedback will be valuable and can help you refine your idea for maximum impact.
For advice and guidance on how to make this happen in the real world, as well as support along the way, The RE-IGNITE Academy is here for you. I have experienced first-hand what it takes to start a successful side gig – and how to turn it into a full-time occupation if you want to. I can help you not only realise the power of a side hustle, but bring your vision and your passion to reality.
For more information about The RE-IGNITE Academy, please follow @thereigniteacademy or @mahmoodmawjee on Instagram or visit www.thereigniteacademy.com
