[ad_1]
According to a recent study by LendingTree, more than half of Gen Z and Millennials have a side hustle, and 80% of them say they need extra cash due to the economic situation. From driving for rideshare services to teaching online courses, operating a cotton candy vending machine, or turning your backyard into a dog park, anyone looking to diversify their income streams and want to get serious. There’s something for everyone thinking. Time work too.
Successful people with side hustles can sometimes earn more than their full-time salary. In that case, it makes sense to put all your effort into your new business. But even those with low initial profits from their side hustle may have an entrepreneurial spirit and a clear vision that motivates them to go all in, and with the right strategy and mindset, those businesses can become profitable. It is highly likely to reach 6 or even 7 figures. A few months.
Here are three women who have done just that. Katherine Watercutter, founder and CEO of activewear brand Gold Hinge. Julie Berninger, co-founder of e-printables curriculum Gold City Ventures. Daniel Cohen-Schohe, founder and CEO of booking and payment platform GlossGenius; Although their journeys and areas of expertise are different, they all know what it takes to turn a side hustle (which may or may not be lucrative) into a successful multi-million dollar business.
Related: 44 side hustle ideas to make extra money in 2023
Here are their stories and their best advice for running a successful business.
Catherine Watercutter: Gold Hinge
Katherine Watercutter is the founder and CEO of activewear brand Gold Hinge. Watercutter started her business as a side hustle when she was 23 years old and working as a sales representative for a distribution company that works with kitchen and bath designers across Indiana. Initially, her lack of funds was a major stumbling block, but now Gold’s Hinge fans include celebrities such as Kristin Cavallari and Caitlyn Bristowe. The brand also went viral on his TikTok trending “RushTok,” earning him 40 million hashtag impressions and millions in sales.
Water cutter advice: “My advice may sound cheesy, but don’t give up. Modern people are impatient and can give up easily if they feel like they keep failing. There were a few times when I thought I was right. ” ”
Related: At age 23, she started a side hustle to “make some quick money.” The business currently generates her more than $1 million a month in revenue and boasts a celebrity following.
Julie Berninger: Gold City Ventures
Julie Berninger is an Etsy shop owner and co-founder of Gold City Ventures with Cody Berman. Berninger worked as a project manager at a major technology company and intended to stay in the industry long-term, but the Financial Independence, Retire Early (FIRE) movement inspired her to start a side hustle. . She opened her Etsy shop focused on the bachelorette party niche, and then co-founded her business, an online course that teaches other entrepreneurs how to find success on the platform. She quit her 9-to-5 job in 2021 when income from her business venture was replaced by a salary.
Berninger’s advice is: ”Don’t start your business alone! Choose your business partner and scale faster! And don’t waste time trying to piece together information on YouTube. Your time is valuable, so pay for a step-by-step program or a business consultant. ”
Related: This former Amazon employee started a side hustle for “lifestyle freedom” – and now earns $100,000 a month with her business
Daniel Cohen Shoe: GlossGenius
Danielle Cohen-Shohet is the CEO and Founder of GlossGenius, an all-in-one booking, payment, and POS solution that helps beauty and wellness professionals drive bookings and grow their business. During her college years, Cohen-Shoe did freelance makeup work out of her dorm room and also worked on a digital receipt payment business with her twin sister. Ultimately, she used these experiences to help self-care entrepreneurs run better businesses, and in the process she ended up founding a software company worth over $510 million. Masu.
Here’s Cohen Schoe’s advice: “Be fearless. Don’t take no for an answer. And most importantly, surround yourself with like-minded people, like the community we’ve created for entrepreneurs at GlossGenius. You can find it through communities, or you can look to the people closest to you. I have had many close supporters, but my strongest ally is my twin sister, Leah. She has been a thought partner from the beginning and has played an invaluable role in expanding the company to what it is today. So surround yourself with people who understand you. ”
Related: A side hustle started in a dorm room at Princeton University turned into a $510 million business: “Don’t take no for an answer”
[ad_2]
Source link
