I am so delighted that Alex Barker, the founder from the Happy PharmD, has agreed to share a post on side hustle for pharmacists. Job satisfaction in any profession is important. But in pharmacy, it can be extremely unbearably if you do not enjoy what you do, not to mention that it can compromise on patient safety. Sometimes we just need to find something different enough to challenge our creativity but still calls for our knowledge and skillset. This is where I find Alex very inspiring and his passion to share what he knows about side hustle for pharmacists is rather infectious. I hope you enjoy his post.
It isn’t so much that you don’t like your job. It’s just that it’s boring.
You’d love to find a way to earn extra money and do work you’re passionate about, but you don’t have a lot of extra money to pour into the venture.
So what do you do if you’re a pharmacist who wants to start a side hustle without spending a lot of money? How do you move toward financial independence if you don’t have extra money readily available?
The most obvious option is a part-time job, but those are getting harder to come by because of job saturation. Besides, who wants to leave one pharmacy job to go to another one?
One of my students in the Side Hustle Fast Track course was a pharmacist who was considering doing MTM on the side — an admittedly popular option for pharmacists looking to earn extra money. There are, however, some drawbacks.
- You must have great relationships with multiple independent retail pharmacies.
- You must be ethically clear to handle multiple services for multiple pharmacies. Many pharmacies won’t support you working for one company and doing MTM for another.
- The profit margins tend to be small for the amount of time required.
The reality is that, though some people are successful in MTM, the success stories aren’t as plentiful as we might hope.
If you don’t have a large sum of money on-hand, a franchise won’t be a great option, nor will a network marketing business model, because both demand money upfront.
The answer, for me, was a side-hustle: a business I could operate on the side that would generate money, often without my direct involvement.
A side hustle can be a creative outlet that generates sales while you’re sleeping. One of my courses generated multiple sales because of a guest-post on TL;DR about interviews.
I created the course; we promoted it; I earned money.
Side hustles allowed me to grow my business and move further toward financial independence. In fact, my wife and I recently celebrated paying off 100 percent of our debt. The house payment is gone. The school debt is gone. It’s all gone.
Side hustles also allowed me to find the creativity that was missing in my pharmacy career.
If you’re looking to create a side hustle that will fuel your passions and make use of your pharmacy knowledge, you need only two things: time and energy.
Beyond that, you simply need a desire to succeed and an idea.
- Start with freelance.
Freelance work involves exchanging your skills and abilities for money, and the only real cost to you is your time. Here’s a list of over 50 side hustle ideas, many of which are freelancing. An easy example is voiceover work.
I once earned $10 for two minutes of audio during my voiceover days. Although $10 isn’t a lot of money if you extrapolate that, it’s $300 an hour.
I helped a client recognize an already-existing side hustle when we determined that she was editing research papers for college students on a volunteer basis.
Once she overcame her imposter syndrome and realized that her services were valuable to the people around her, she started charging students for the work she was already doing, and she instantly had a side hustle.
- Monetize your hobby.
Perhaps you have a hobby that allows you to create things to sell.
One of the custodians at my day job paints oil paintings in his free time, and somewhere along the way, he discovered that he could sell them to chiropractic offices for a decent amount of money.
He created a great niche for himself out of something he was already doing, and it generates profit.
Creating a product is liberating. In pharmacy, there are few opportunities for such feelings.
When you create something and receive cash for it, you can become like a kid again.
- Make mistakes.
Pharmacists are uniquely careful about mistakes, because, in the words of Eric Christianson, failure = death. He calls pharmacy a stagnant, uncreative, “box-checker’s dream.”
His own fear of failure delayed his entrepreneurial project for a full year because he worried he might make a mistake or, worse yet, get sued.
Mistakes are fodder for growth.
Mistakes force us to regroup and try again.
They teach us about the things that work and the things that don’t. They help us identify the places where our time is best spent.
- Take one step forward.
If you’re thinking that you don’t have any skills or talents that lend themselves to a side hustle, you’re wrong. Each of us has a skill set that the world needs, but sometimes it’s so natural to us that we assume everyone has the same abilities.
I’ve helped countless pharmacists find a side hustle, and I’ve never once encountered a hopeless client. If you have the desire and the will, I can help you find the way.
The bonus is that, in addition to extra income, side hustles can also expose you to new experiences that may even lead to better jobs. Side hustles can also help you find meaning in your work if your daily job isn’t providing it.
No matter your reasons, finding the right side hustle can create positive change in your career and your personal life. I know, because my side hustle completely revamped my pharmacy career.
My Side Hustle Fast Track course provides a blueprint for building a business. I’ll help you identify the best opportunities and scale the business efficiently so that you aren’t wasting valuable money or time. I’ll help you find the confidence to implement your ideas despite the fact that you’re convinced you have no extra time in your schedule.
As you embrace the idea of pharmacy and entrepreneurship, my friend Blair Thielemier can guide you through the follow-on steps to become a pharmapreneur and build the a pharmacy conResolve to take one step today. Recognize your hesitations as fear and resolve to overcome them.
Don’t buy into the lie that you’re stuck where you are.
Put yourself on the path to fulfillment and financial independence. I’m here to help when you’re ready.
***Note Cynthia Leung has no financial ties to The Happy PharmD*****