By Evan Arroyo By Evan Arroyo | June 1, 2021 |
With a fascination for business and technology, Jonathan Kvicky has cemented himself as a successful investor, serial entrepreneur, and software engineer. At the age of eighteen, he had multiple tech startups to his name - one being a prominent digital PR firm - which was acquired two years after development. Now, at the age of thirty-two, he works as a developer on the Sony PlayStation team and also spends off-hours immersed in the blockchain space, investing in innovative companies and showcasing tech with revolutionary use cases. Most recently he gained notoriety by turning a single hundred-thousand dollar investment to over one million, in the span of eight months, as seen on his Instagram feed.
Achieving the same level of success as Jonathan Kvicky in a short length of time is no easy task. However, if there’s one piece of advice he shares with those who want to reach greater heights, it’s to always strive for income diversification via other revenue streams, or “side hustles.”
“More and more people are beginning to realize that having multiple sources of income is empowering. There’s no better time to get started than right now. The average individual contributes a substantial amount of time to their daily job or primary source of income - which normally comes from working at a company or serving under an employer”, says Kvicky. There’s nothing wrong with this, especially if you’re in a line of work you’re passionate about. But, you’d be surprised what can happen when you start putting effort and resources into growing additional revenue streams on the side.”
There are two primary reasons why having side hustles, in this day and age, are so beneficial. First, it mitigates risk and allows for diversification of income, providing extra stability when unforeseen circumstances occur. This means that if a person loses their job, a company unexpectedly goes under, or an event causes disruption in normal workflow, they can offload or diminish the financial impact that occurs as a result. And, second, side hustles serve as an opportunity for individuals to learn and grow, to become knowledgeable about new industries, and to gain insights to new skills and tools that may benefit them later down the line. This, in turn, can also provide somebody with a greater sense of accomplishment - one which may not have been experienced at their full-time job or current line of work.
One of the biggest concerns voiced by those already employed and considering a side hustle is the amount of time and effort that may be required to turn that side hustle into an accomplishment. But, Kvicky states that the few sacrifices that are necessary to achieve success are necessary. “Not everybody has the desire to do it. But, to put it quite simply, it’s what separates the winners from the rest of the pack. When you’re willing to sacrifice some time, ego, fear, etc., for the chance at a better financial future, what you gain will ultimately be far more rewarding and valuable than what you’re giving up.”
Photography by: Jonathan Kvicky