Monday, September 11, 2017

I'm just talkin' 'bout my g-g-g-generation

What is (or will be) your Encore Hustle style?

The Aristotelian side of my nature loves creating classifications and making organizational systems.   In the case of Encore Hustles I propose they can be broadly classified under the 4G's.

1) Grinder
2) Grower
3) Guru
4) Gigger

A Grinder would be someone who works a regular "job", just like they did before leaping past 65.  A Grinder will make an hourly wage and will receive a W-2.  For many people a Grinder job would be ideal.  It could be full or part time and maybe include benefits, such as healthcare and 401k.  Grinder jobs could range from being a barista at Starbucks, a seasonal employee or even continuing with the same job they had before reaching 65.

A Grower is someone whose Encore Hustle is starting a business.  A Grower could transition from being an employee to a boss by essentially doing what they were doing pre-retirement but they get to use their skills and experience to put any profits into their own pocket.  A Grower could also buy a franchise, monetize a hobby or strike out on a new venture that has been longtime dream. Of course a Grower will experience the stress of starting and running a business.  It could involve creating business plans, raising start up capital, marketing, and dealing with accountancy and taxes.  Being a Grower would not necessarily be right for everyone but if you always had a hankering to be the Boss now is the time to seize the moment.

A Guru is someone who making teaching, editing, freelance writing, mentoring, consulting, coaching, training or tutoring their Encore Hustle.  You might be a retired teacher who has become an on-line tutor or substitute teacher.  A Guru could also be an engineer with a lifetime of accumulated knowledge who hires out to clients or teaches as an adjunct at a local college. A Guru could also be tour guide who gets to share the history of their area and get about to flaunt their knowledge of local trivia.  

A Gigger takes advantage of the internet and the sharing economy to cobble together a string of Encore Hustles.  A Gigger could drive for Uber, pet sit, rent out a room with Airbnb, be an online juror, flip garage sale finds on eBay or serve wine at an event thru a Craigslist ad. Sure the work for a Gigger can be sporadic and pay will swing wildly but it will have flexible hours and if the work is not to your liking then just drop it and find another gig. You can think of Gigging as the ADHD of Encore Hustles.  But Gigging also gives you time to hone your skills and build your brand.

If you wanted to present the above classifications as Venn Diagrams it would be clear that many Encore Hustles within the 4G's would intersect.  For example, a tutor (Guru) could be a Gigger when they find students through or they could be Grower when they start their own tutoring business.  And there is nothing to stop a Grinder, maybe working a cash resister at Walmart, picking us a few extra bucks being a Gigger by being a petsitter, or setting up their own Esty shop to be a Grower.  This is one of the exciting aspects of Encore Hustles - the possibilities and permutations are only limited by your imagination. 

Let me know what your Encore Hustle is and we can feature it on a future postings.

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