The Uganda Registration Services Bureau staff, on the 29th August, had a thought-provoking session during the latest RG’s Fireplace, where Mr. Denis Jjuuko, Communication and Visibility Consultant at Prime Time Communications, shared practical tips on how corporates can manage side hustles without jeopardising their main careers. The discussion, themed “The Side Hustles for Corporates,” attracted lively engagement.
Mr. Jjuuko emphasised that side hustles for people working 8-to-5 jobs should not be overly time-consuming. Instead, he advised on ventures such as buying and selling land, flipping houses, cars, or investing in bonds and unit trusts; opportunities that can generate income with minimal daily involvement.
Key Standouts for Staff:
• Avoid time-draining businesses: Bars, salons, and restaurants may look attractive, but often demand close supervision.
• Guard against cash risks: Choose businesses where payments go through banks to protect revenues and minimize losses from unreliable staff.
• Start small, learn the trade: Do not pour all your life savings or borrow heavily at the beginning. Use personal savings or pool funds with trusted partners.
• Test before quitting: Secure your salary in an investment account and survive on your side hustle for six months before considering full-time entrepreneurship.
• It doesn’t have to be ground-breaking: Invest in sectors that already work, but run them better than others.
• Focus on cash flow: Businesses with regular income keep operations sustainable, unlike long-term ventures with delayed returns.
In conclusion, Mr. Jjuuko reminded staff that side hustles should complement, not compromise, their primary jobs, offering a better trail to financial security and long-term growth.