In the last decade, the internet became simpler. Anyone can create a website, online storefront and connect to customers anywhere in the world.
In 2007, the famous book The 4 hour Work Week was published, highlighting how easy it was to only work 4 hours managing an internet business while maintaining a full income. This led to a frenzy of new projects with passive income (aka, side-hustle) as a means to quit the 9-5.
Relatedly, the FIRE movement has become popular with Millennials: Financial Independence, Retire Early. The FIRE retirement movement takes direct aim at the conventional retirement age of 65 (we will discuss this further in an upcoming newsletter).
But why should you care?
Your patients are likely bombarded by ads and articles titled “How I quit my job to make 30k a month online.” This creates anxiety and also makes people regret their life decisions,
“Why did I go to law school and work 70/hr a week when this 22 year-old kid is making more money than me”.
In addition, working remotely in the last few years has generated more disengagement and apathy towards an employer. Why work hard for a promotion that would gain a 10% salary increase when you can make millions online. Right?
Advice to consider during sessions.
In 2007, the famous book The 4 hour Work Week was published, highlighting how easy it was to only work 4 hours managing an internet business while maintaining a full income. This led to a frenzy of new projects with passive income (aka, side-hustle) as a means to quit the 9-5.
Relatedly, the FIRE movement has become popular with Millennials: Financial Independence, Retire Early. The FIRE retirement movement takes direct aim at the conventional retirement age of 65 (we will discuss this further in an upcoming newsletter).
But why should you care?
Your patients are likely bombarded by ads and articles titled “How I quit my job to make 30k a month online.” This creates anxiety and also makes people regret their life decisions,
“Why did I go to law school and work 70/hr a week when this 22 year-old kid is making more money than me”.
In addition, working remotely in the last few years has generated more disengagement and apathy towards an employer. Why work hard for a promotion that would gain a 10% salary increase when you can make millions online. Right?
Advice to consider during sessions.
- Passive with an asterisk*: Remind your patient that it is possible to create a side business with passive income. However, when probing successful entrepreneurs, they will realize the 1000s of hours put in initially to get it launched. They will also realize that most of them had several failed attempts before success.
- Beware of Side-Hustle Charlatans: There are a number of books and courses on getting started with a side-hustle. While there are credible authors, for many, the course itself is their side hustle.
- Pandemic Funk: Remind your patient that the disengagement they might feel today could pass when they return to the office. Perhaps coming up with personal goals to be promoted or even consider “intrepreneurial” projects (entrepreneurial activities within your company) to develop skills, motivation and visibility.
- Side-hustles aren’t bad: Pursuing a side-hustle is great! Remind your patient that even if it doesn’t grow, there are new skills they will develop that will make them better at work or even on their next side-hustle. Perceiving it as a hobby with the potential of commercial success might be a better approach.