5 Things You Need from Your Job to Advance Your Career

Your job won’t always be your dream job. Sometimes you’ll take on projects you don’t like, work with people whose company you don’t enjoy, or get paid less than you think you’re worth. Sometimes, your focus will be on getting by until you find your next gig or get promoted. However, no matter what you do, there is almost always more to gain from your work than a paycheck.

Many employees think of their salary as the sole value they derive from their job. Career growth requires a deliberate focus on personal growth to prepare yourself for the next rung on your career ladder. Here are five goals to focus on in your work:

A story is a narrative that you can use to demonstrate the value you created for your organization. Stories are much more powerful than a list of responsibilities. A responsibility is blindly following what your manager tells you to do. A story shows that you have the understanding, initiative, and follow-through to create value for your organization.

Let’s say you work at a pizza parlor. A responsibility might be “I made pizzas, ran the cash register, swept the floors, and closed the restaurant.”

A story could be:

I started out washing dishes. After two weeks, I learned how to mix the sauce and throw the pizza, and was able to handle all the kitchen duties on my own on weeknights. After a month, I offered to close the restaurant so my manager could see his son’s little league game. He taught me how to run the cash register, and soon after, I was able to run the pizza parlor on my own when needed.

This story demonstrates ambition, progression, and responsibility. It adds context, credibility, and an emotional element: Every restaurant manager wishes for someone reliable to trust when he needs to attend to personal matters. I did not approach my first summer out of college with this attitude, but I did master pizza-making and created a veggie stromboli that was added to the menu.

Imagine how many more entrepreneurs we would have if every college student approached his summer job with the goal of running a small business. Don’t start writing your story when trying to write your resume—your story should be the most important consideration when you decide which opportunity you want to pursue.

Skill-building is the second essential goal you need from your job. Building skills requires your attention when looking for a job and an entrepreneurial attitude when on the job. Especially when you are starting out, it is often worth it to sacrifice salary in exchange for skills.

My first job out of college was to build a customer relationship management platform for a small machinery sales business and run their IT operations. It didn’t pay much, but I had complete freedom to architect a software solution to the business, which I then abstracted into a software product we sold to another company.

 I wasn’t paid much that year, but I gained tremendously valuable experience for my career that would not have been possible for a junior developer on a large team. After a year, I was able to jump right into a mid-level role and more than double my salary.

No matter what your boss or HR says, it is up to you to build your toolkit. Be on the lookout for developments in your chosen field and try to steer to projects that build on that. Some of my peers in software worked themselves into a career dead-end by jumping into high-paying roles for major corporations that involved arcane and proprietary programming languages. Despite years of experience, they had trouble moving on because their skills were too specialized to be interesting to anyone else.

Your salary is a reflection of how much value you create for your organization. If you want to increase your compensation, you must increase your value to your employer. Do what your boss asks first, but then discover what builds value for your employer and focus on that.

Consider making the value you create visible within your company as part of your job description just as much as the work you are responsible for completing.

The fourth asset you need to derive from your work is your social capital. The best leads for your next opportunity will come from the people who see you at your best—your coworkers. Use your time at the office to establish connections with peers, mentors, and influencers who will aid in your career.

Even lunch should be a strategic tool to advance your career. Don’t have lunch with the same people every single day: Use it as a mentorship or networking opportunity by inviting someone from your organization. Don’t gossip, complain, or brag—talk about some work you are excited about or ask for advice—and find people older and more experienced than you whose advice is worth asking and who can vouch for you when your name comes up for a new project.

Finally, you should find a job you love. Especially when you are young, make your job your primary focus in life.

This is not to dismiss the value of family, friends, etc., but as far as goal-pursuit is concerned, you need to prioritize your career. If you come in the morning tired from video games, partying, reading books, or engaging in other hobbies, think hard about your life and your time management. Schedule your social life, put time limits on games, and sip your liquor; do whatever it takes.

Write the story you want to tell about your job. Discover what skills your market finds valuable. Build social capital with mentors and influencers.

Cut out the non-essential junk in your life so you can come in and perform like a rockstar every morning. You’re not a kid anymore, and you need to start adulting ASAP. If you can’t get sufficiently motivated about your job to do that, create opportunities to combine your hobbies and your career.

Making your career your primary purpose in life does not mean working more hours. Not only is overwork counterproductive, but it is also often the excuse to avoid taking the few, uncomfortable steps needed to actually make progress in life.

Write the story you want to tell about your job. Discover what skills your market finds valuable. Build social capital with mentors and influencers. Finally, find work that you find truly satisfying.

Originally posted at FEE.org

How I found the one trick to “lose belly fat overnight”

About three years ago, I decided to reach an ambitious financial goal, that would put me in the top 5% of my peers. I engaged in a deep dive of personal finance, which led me to reject the conventional wisdom about career, savings, and investing. I developed new principles, achieved financial success, and moved my retirement date forward by several decades.

Two months ago, I became aware that though I was only slightly overweight, as I got older, my weight was having a detrimental effect on my health in many ways. I decided to engage in a similar process to lose weight.

I already knew that the conventional wisdom of a low-fat diet and more exercise was wrong, but as I dived into the topic of weight loss, what I learned transformed my approach. I’m still learning more every day, but here is the gist of what I found:

The most common explanations for why 70% of Americans are overweight are wrong. Obesity is not caused by eating too much or exercising too little, but by a hormonal imbalance in the body. The human body has a “set body weight” which it maintains through hormonal feedback systems. Inactivity and overeating is the result of obesity, not the cause. This is why diets which focus on eating less and moving more almost always fail — as has been proven by numerous studies. Unfortunately, the lure of hundreds of billions in agricultural subsidies has maintained a false theory of obesity despite 50 years of negative evidence.

The ultimate biological cause of obesity is a hormonal imbalance caused by insulin resistance. Insulin resistance is caused by persistently high levels of sugar in the blood. High sugar levels come from frequent carbohydrate-heavy meals. Cheap and plentiful processed carbohydrates from corn and wheat are the result of agricultural subsidies, which were passed to support the false hypothesis that obesity is caused by excess fat consumption.

Insulin resistance is the cause of fat accumulation. Insulin is a hormone which enables all cells to use and store sugar in the blood. Insulin is essential for the body, but persistently high levels of insulin cause resistance and fat accumulation. Fat storage is thus hormonally mediated. Attempts to lose or gain weight by calorie regulation below the set weight inevitably fail long term because the body compensates in myriad ways:

The body will respond to decreasing fat stores by increasing appetite, reducing satiety, lowering the metabolic rate, decreasing body temperature, and many other ways.
Long term weight control can only be achieved by understanding and addressing the causal factors – the hormones that regulate weight – especially insulin and leptin. This is why people who address weight by regulating calories suffer from a life-long rollercoaster or weight loss and regain. Lack of activity and larger meals is the outcome of obesity, not its cause.

More fundamentally, obesity is caused by dysfunctional emotion-handling skills. Carbohydrates are a highly effective and pleasurable endorphin activator. Like alcohol, tobacco, or heroin, carbs help addicts with chronic stress, anxiety, and depression — which are all common in the developed world. Carbohydrate addicts treat emotional instability with food in the same way as any other substance abuser.

Humans have evolved satiety mechanisms in response to fat and protein consumption (leptin is released to signal satiety). But like alcohol or cocaine, humans have no evolved satiety mechanism for carbs, which causes chronic overeating.

Understanding that carbohydrate consumption is an addictive relationship is essential to effective weight loss. Telling an alcoholic to consume less alcohol does not work because any amount of alcohol reinforces the addition. For the same reason, eliminating all processed carbohydrates from the diet is necessary for an effective dietary change.

Adopted sibling studies show that obesity is 70% genetically determined. I suspect that the specific trait is an inherited lack of emotion-management skills, which combined by super-availability of cheap carbohydrates is responsible for the modern obesity epidemic which affects 70% of Americans. Treatment of obesity requires addressing the need for emotional self-regulation and insulin resistance. Weight and fat loss will follow naturally as a result.

Exercise is effective for weight loss not because it burns fat or builds muscle (these effects are trivial and counteracted by the body in non-athletes), but because the endorphins produced during exercise reduce the emotional dependency on carbohydrates in food.

It is impossible to become fat from eating food — real food. Real food contains fats and proteins that trigger the body’s automatic satiety mechanisms. Obesity develops due to artificial food in the form of refined carbohydrate products. You can’t lose weight by eating MORE of anything. You must reduce the harmful effects of addictive carbohydrates.

The solution to obesity is to correct the hormonal imbalance by reducing insulin resistance. Insulin resistance can be reduced by creating periods of low blood sugar, specifically by eating a low carb diet, extending the periods between meals, such as by avoiding snacking and intermittent fasting.

Lowering insulin resistance will signal the body to automatically reduce fat stores, by increasing activity levels and correcting satiety levels. More activity and smaller meals are the *result* of fat loss, not the cause.

Finally, it is necessary to address the underlying emotional needs which cause carbohydrates addiction. Healthier substitutes such as walks, coffee, meditation, exercise, or just more sleep can reduce the dependency to derive endorphins from frequent carbohydrate consumption.

As I’ve discovered these ideas over the last month, I achieved dramatic success with my own health. I now have a healthy BMI for the first time in years and am rapidly moving towards my goal of 10% body fat without calorie restrictions or exercise. By switching to a low carb, high-fat diet and adding periods of intermittent fasting (a restricted daily eating window) I achieved a steady loss of 2.7 pounds per week.

Furthermore, I found that daily walks, coffee, and a concerted effort to get more sleep reduced my need to constantly snack to find emotional balance.

So, here is my one trick to lose belly fat overnight:

Extend your nighttime fasting period:
Don’t eat anything after eight pm or before noon. Have a glass of water with sea salt (to replenish electrolytes) before bed. Your body will use up the remaining sugar in the blood and enter fat-burning mode overnight, and you will pee out the ketones in the morning. Weigh yourself every morning to motivate yourself and track progress.

Welcome to the experience economy, where ownership is a hobby

I love the awesome stuff you can get these days. I was born in Soviet Ukraine and grew up before the internet, before cell phones, before the smart-everything, connected-everything, disposable-everything era. Don’t even get me started about groceries. My second favorite thing about the United States is Costco and their cheap five-pound strawberry crates, giant cheese wedges, and more.

But as much I love stuff, I hate owning things. Ownership is a drag. As soon as I acquire anything, it begins to decay, get outdated, and lose its relevance to me. Every single possession is a liability and a responsibility.

I got a two-pound bag of Costco frozen shrimp the other day, and when I went to put it in my freezer, I couldn’t fit it because I forgot that I got the same thing a few weeks ago. I had to defrost and eat that shrimp ASAP even though I was looking forward to burgers that night. I know, first world problems.

Ownership is a drag on your physical, mental, and financial freedom.

Ownership is a drag on your physical, mental, and financial freedom. I thought I lost my camera tripod and started shopping around for another one—until I found my old one in the closet. I have at least five things of superglue in the house. According to professional organizer Regina Lark, there are 300,000 items in the average American home. We’ve had to triple the size of the average American home over the last 50 years, and many of us still have to rent offsite storage.

The cost of a thing goes far beyond the sticker price. You must allocate physical space to store it and mental space to keep track of it. Then there is the constant mental cost of worrying about it. Nothing lasts forever, and things start to decay as soon as you acquire them—both literally and in your mind. My “indestructible” tungsten-carbide wedding band suddenly shattered after nine years. I thought it would be my only possession to outlast me. Buddhists saw “suffering due to constant change” as one of the three kinds of suffering and advocated the renouncement of all desire as the solution.

Such is the age of mass production, when products and tastes change constantly, unpredictably, forever.

Besides physical rot, there is comparative rot when possessions become outdated compared to new versions today or irrelevant to the you that is now and not the you of 10 years ago. Such is the age of mass production, when products and tastes change constantly, unpredictably, forever.

I don’t advocate renouncing all material things, just renouncing attachment to material things. To get the most out of the modern world, you must learn to value experiences, not things. I love driving my little turbocharged Honda Civic. I hate owning a car. Vehicle registration only costs $20 in Georgia, but I start worrying about it months before my birthday (all vehicle registrations expire on your birthday here).

I love the look and feel of my anodized aluminum MacBook Pro. I love how my iPhone is an ever-present connection to all of human knowledge and that my Apple Watch tracks my every move and gives me little daily activity and meditation goals. I like having a cozy apartment right next to my office, with its grill, pool, and punching bag.

What I value is the experience of using the product. It’s intangible, but it’s the thing that actually adds value to my life.

I try to own all these things as little as possible. I rent, I finance my Civic, my computer was provided by my company, and my iPhone is financed by Apple and my Apple Watch through my health insurance. Modern society forces me to own all these things to an extent, but I eagerly give up the privilege when I can. What I value is the experience of using the product. It’s intangible, but it’s the thing that actually adds value to my life. If my iPhone screen ever cracked, it would annoy the heck out of me, and I would immediately change it out for an identical new model with zero regrets or pain. Such is the wonder of mass production. Every year, Apple gives me a new iPhone and Aetna gives me a new Apple Watch. It’s the ownership experience that I value, not the thing.

Welcome to the experience economy, where each individual is free to focus their time and energy on their area of comparative advantage.

One day soon, owning things will be a hobby while everyone else will pay for ready-made experiences. We are getting there. For example, a middle-class millennial with a fully stocked kitchen is likely to enjoy cooking as an end in itself, while most of her peers go out or buy meal kits. Having a home library is a hobby—for everyone else, there are Kindles and YouTube tutorials. A home with a meticulous formal dining room and stocked bar is a hobby, while everyone else goes out to Ted’s Montana Grill (or maybe that’s just me). When self-driving cars take off, car ownership will be a hobby for auto enthusiasts, while everyone else will take a self-driving Uber, or Waymo, or whatever wins out. Welcome to the experience economy, where each individual is free to focus their time and energy on their area of comparative advantage.

In the old days, before the industrial era, we lived in a commodity economy: you bought hay to feed your horse to ride into town for a hoedown. The Industrial Revolution brought the product economy: you could buy a nice car and roll to the club in style.

In the post-industrial era, the post-ownership service economy, you take an Uber. We are now entering the experience economy, where your Uber, or airline seat, or AirBnB is expected to offer an integrated, immersive experience, not just get you from A to B or a bed for the night.

In Neal Stephenson’s book The Diamond Age, the poor have access to a faucet that provides an endless stream of 3D-printed stuff which can be recycled for any other item while only the wealthy have access to handmade goods. We’re not there yet. Today, people hoard stuff because it takes money to acquire things. Because people live paycheck to paycheck, they can’t count on access to money when they need it, so they hoard possessions. Become financially secure so you can rest assured that you will be able to get a thing when you truly need it and let someone else value it in the meantime. Strive to own things just-in-time rather than just-in-case.

Let go of the idea that possessions will bring happiness or that they are irreplaceable. Don’t make your home a spaceship—a self-contained ecosystem that is expected to provide for all your needs. The world is full of places, experiences, and things you can enjoy without the burden of owning them.

One day, we’ll print anything we want in a Star Trek-style replicator, but today, to embrace the sharing economy, you must become entrepreneurial. Master selling your old stuff on eBay so you can get rid of it as soon as you no longer need it. Rent out your car on Turo so it generates income when you’re not using it. Borrow rather than buy, rent rather than own. Look for opportunities to monetize your idle assets and hobbies.

Above all, don’t judge your success at life by how much you own. When I moved to China, I sold or gave away all my books and got a Kindle. My wife sent all her rare and out-of-print Montessori books to a service that digitized them to put on the iPad. We forever eliminated the anchor of hundreds of books from our life and freed ourselves to move anywhere in the world at a moment’s notice. The experience of living in a variety of places around the country and the world is far more valuable than a house filled with stuff.

Things are a chain that sucks away your money and your life force. Experiences are valuable. Relationships are valuable. Owning stuff is a drag.

Why Hollywood villains have become politically correct

According to the “nothing about us without us” principle of intersectionality, it is verboten to present racism, sexism, homophobia, transphobia, ableism, xenophobia, classism, etc without being a member of the victim group.

As a result, creators not allowed to have their *villains* have such traits unless the writer/producer themselves are in the victim group. For example, the left forced Chinese-American writer Amélie Wen Zhao to withdraw her debut fantasy novel containing slavery because, even though Chinese immigrants experienced racism, they were not actually enslaved.

The only evil which remains a fair target for all? Wealth. Nevermind that virtually none of the writers have any experience with how wealth is created. Capitalists oppress everyone, and therefore, and therefore it is always safe to portray them as evil.

The intersectional concept of “nothing about us without us” was first identified as “polylogism” by Ludwig von Mises in “Theory and History.” Polylogism is the belief that different groups of people reason in fundamentally different ways. This concept has two popular sources:

Karl Marx taught that thought is determined by the thinker’s class position. There is no such thing as truth, only ideology.

The Nazis adapted classist polylogism into racialist polylogism. They believed that thought was determined by “blood and race” – hence the rejection of Einstein’s theory of relativity as “Jewish physics.” For example, US Supreme Court Justice Sotomayor engaged in racialist polylogism when she said that a “wise Latina” would follow different legal principles than a white male.

Polylogism implies a rejection of the very concept of fiction: fiction requires the author to empathize with characters who are unlike him. Even if the protagonist is auto-biographical, other characters cannot all be the author’s clones. Yet this is precisely what the left demands: while it talks about empathy and understanding, they ultimately reject any such possibility.

Education should be “just in time” not “just in case”

Children should not be forced to memorize anything that does not serve a practical purpose. Education beyond basic social function should be “just in time” not “just in case.”

What is “practical?” That depends on the context of the child’s abilities and socio-economic status, but it can be objectively answered. Plumbers don’t need Shakespeare. A plumber is welcome to read Hamlet, but forcing him to spend 16 years in useless classroom rituals wastes both money and the most productive years of his life.

The egalitarian myth is: if all children are given a proper education, they can all have an equal chance at success. But this is an absurd and destructive lie.

In any society, a child’s success in life depends on a few critical intrinsic and extrinsic factors, namely the influence of their parents and their genetic potential.

This is true regardless of whether they live in a totalitarian dictatorship or free-market capitalism. The only difference is how parental influence is measured (political pull or wealth) and what genetic traits are rewarded — a skill at rote memorization, realpolitik power-hunger, or entrepreneurial spirit. By the age of five, it is possible to predict where any given child will end up in life based on his society, his parents, and his character.

The question is, therefore — what system most efficiently nurtures the inherent potential of the child given his inherent abilities and social influences? The answer is: a system which recognizes and respects the uniqueness of every child, and allows him to develop into the mold of his choosing and according to his abilities. The factory schooling system defies human nature and human society by attempting to fit every child into a common mold — which fits no one. This wastes decades of the lives of children and young adults and destroys the child’s natural curiosity, his power of self-motivation, and his unique perspective on the world.

Three Key Differences Between Traditional and Crypto Markets

What is the real market value of cryptocurrencies like Bitcoin?

The numbers used to explain the performance of Bitcoin and other cryptocurrencies are less meaningful than most assume.

Cryptocurrencies are not exactly like stocks, and cryptocurrency exchanges do not work like traditional securities markets. As a result, many crypto-asset investment strategies based on conventional definitions of market share, capitalization, volatility, and trading volume are deeply flawed. Misleading numbers mean that cryptocurrency valuation and adoption is poorly understood, which creates a false perception by the media and investors about cryptocurrencies such as Bitcoin.  One implication of this analysis is that Bitcoin has captured the vast majority of the long-term upside in the cryptocurrency market despite having about half the nominal market share.

Most cryptocurrencies and crypto exchanges manipulate numbers in ways that publicly traded companies and traditional exchanges like NASDAQ and NYSE wouldn’t dream of.  As a result, “market capitalization” and “trading volume” are at best rough and relative measures of cryptocurrency adoption. Even when intentional manipulation is not involved, crypto-asset markets fundamentally just do not function like securities markets. It’s important to understand these differences to asses the state of cryptocurrency and crypto asset adoption.

Let’s look at three important differences between how cryptocurrencies and traditional securities markets work:

Will Bitcoin burn the planet to ashes? Not so fast.

Environmentalists have recently become concerned about the impact Bitcoin mining has on global warming. Headlines such as “Bitcoin Will Burn the Planet Down. The Question: How Fast?” and “Bitcoin Mining Alone Could Raise Global Temperatures Above Critical Limit By 2033” suggest that Bitcoin is an unfolding environmental disaster.

However, those panicking about crypto make three fundamental errors. First, they do not understand how Bitcoin works, second, they do not understand what mass adoption would look like, and third, they do not understand the problem Bitcoin is intended to solve.

Regardless of your opinion on the danger of global warming, Bitcoin does not use nearly as much energy as claimed, will become far more efficient as it grows, and most importantly, solves one of the greatest causes of resource inefficiency, corruption, and human suffering.

Bitcoin mining is a market-based process that taps underutilized energy sources

When Bitcoin critics focus on the raw energy usage of Bitcoin mining, they miss the bigger picture: cryptocurrency production is a competitive market process.

Because the cost of Bitcoin mining comes mostly from electricity consumption, Bitcoin mining is concentrated in places with cheap or surplus energy. Industrial-scale mining facilities are located in far-flung locations with cheap hydro-electric, nuclear, geothermal power, or undeveloped industrial regions with excess production. Energy costs money, and miners will always look for the world’s best sources of cheap and efficient energy. Cryptocurrency mining is a means to tap underutilized energy resources for a valuable purpose—the maintenance of a monetary system. No other industry can rapidly move into an industrial ghost town and create value the way Bitcoin mining firms do.

Furthermore, the total energy usage of Bitcoin is limited by economics: crypto-miners will only keep mining when their profit is higher than the cost of electricity. The Bitcoin network automatically adjusts the difficulty of mining new blocks in response to the “hash rate” or the net mining capacity of the network. This means that Bitcoin has a built-in cap on energy use, and can dynamically adjust in response to energy prices and innovation in computational hardware.  Currently, humanity consumes around 17.7 Terawatts per year. The Economist estimates that Bitcoin uses 2.55 gigawatts or .014% of that. Some estimate the total use of cryptocurrencies at 7.7 gigawatts, but it’s likely that a single cryptocurrency will dominate after the current shakeout period.

How I Built a Bitcoin Exchange: Design Principles & Risk Management

In 2013, I designed and built a cryptocurrency exchange for the China market.  The basic concept & architecture only took a few days, but the full implementation required several years.   I shared the basic architecture in 2013, and with the recent spike in interest in Bitcoin and Ethereum, I thought I would share additional details on the concept.

I wrote the trading engine for the exchange over a long weekend in Shanghai.  It turns out that building a large-scale cryptocurrency exchange is quite complex, and it finally (and successfully) launched in 2016.  The notes below describe my design vision from 2013 – the implementation followed this specification fairly closely.  There is a lot of detail and documentation to many of the sections below – some of which I will elaborate in future posts.  If you want more detail on something specific, comment below or find me on LinkedIn.

Happy 10th birthday to Bitcoin!

Happy birthday to Bitcoin! 10 years ago, Satoshi Nakamoto published a white paper for “a Peer-to-Peer Electronic Cash System” which would “allow online payments to be sent directly from one party to another without going through a financial institution.” Just a few short months later, the Bitcoin network launched on 3 January 2009.

Bitcoin is the culmination of thousands of years in the evolution in money. It is durable, portable, divisible, uniform, and limited by design. Over the span of human history, money has taken the form of shells, salt, coins, banknotes, and fiat bills. While money serves a crucial role in facilitating trade and wealth creation in society, it has often suffered from hidden inflation, outright confiscation, or the exclusion of unpopular groups from the economy. In the 100 years, the inherent flaws in fiat paper money have been used by governments to fund wars, corruption, and cronyism through the hidden tax of inflation.

Bitcoin is the first credible alternative to fiat currency and offers real, sound money made for the information age. The decentralized nature of Bitcoin has revolutionary potential for both the global economic order and billions of people who suffer from lack of access to financial institutions and corrupt governments and corporations. The concept of a distributed ledger stored on the blockchain has applications well beyond money, with the promise of creating a durable and credible record of property ownership, which has the potential to transform how we record property deeds, corporate shares, insurance claims, business contracts, and many more applications.

After the basic concepts of Bitcoin and the blockchain were discovered in 2009-2013, Bitcoin and the blockchain space entered the infrastructure stage. We are now building the ecosystem of tools, vendors, and relationships to make Bitcoin as easy or easier to use than products of legacy financial institutions. Once a mature infrastructure is in place for cryptocurrencies, the stage will be set mass adoption. Billions of people will have the devices, services, and vendor networks to use Bitcoin for everyday transactions, meeting the final requirement for money: widespread acceptability.

The mass adoption of cryptocurrencies will not create a utopia – it is more likely to be hugely disruptive to the economic-political order. However, genuine sound money is what humanity desperately needs to build a harmonious, robust, and integrated global digital economy on the backbone of the Internet.

Is your “side hustle”​ holding back or advancing your career?

I encourage people to develop a “side hustle,” but they are not suitable for everyone, and many people get hustles that do more harm than good.

The proper function of a side hustle is not to earn a few extra dollars — it’s to grow your value proposition and train for a life of financial independence and entrepreneurship.

Many people get a side hustle that distracts rather than enhances their career. Driving Uber at night or hosting Airbnb guests every night is not going to enhance your career unless your dream is to be a chauffeur or enter the hospitality industry. Same with being a jack-of-all-trades who takes whatever job he comes across.

Is your side hustle causing you to sleepwalk through the workday or work on your gigs from the office? Are you spending more money on tools and supplies for each new gig that you bring in? Are you growing as a professional and building a sustainable, revenue stream with customers that come back to you, or are you doing random, one-off jobs, often for free? Are you giving up new projects at work, a promotion or a demanding new job for your side hustle? If so, it’s holding you back rather than helping you. You don’t need more spending money: you need to create opportunities for you to grow.

A good side hustle should help you to grow in your career or to explore a new one. You should come to the office excited to try out new ideas, not just tired from staying up all night working in an unrelated field. And if your idea is so great that you can’t perform your day job, don’t try to do both: quit and pursue it full time. You’ve saved up your reserve fund already, right?