Five years back, I left my unsatisfying career as an administrator in higher education where I was clocking in from nine to five.
started offering digital items on Etsy
.
Currently, I generate around $14,000 each month through passive income streams from seven sources.
income streams
, encompassing my Etsy shop, my blog, real estate ventures, and the increase in stock value. Additionally, I have recently become a
self-made millionaire
.
The journey was not smooth, and I certainly stumbled several times. However, I discovered how to identify my specialty, manage a company, and create the lifestyle I desire by pursuing my passions.
My top recommendation for launching a thriving side business would be:
1. Avoid overextending yourself
A frequent error individuals commit is attempting to manage numerous revenue sources simultaneously, which can lead to diminished concentration. However, from what I have observed among those who established lucrative businesses, very few began by generating these income channels concurrently.
I’ve encountered numerous individuals who dive into multiple ventures simultaneously—ranging from stock trading to setting up a Shopify store, followed by exploring real estate—all within the same period. Typically, this approach leads to exhaustion, stress, and sometimes financial obligations.
Rather than doing multiple things at once, create a strong flow with one task first, become proficient in it, and then progress to the next.
2. Avoid giving up prematurely
Initially, when I launched my side business, I earned some money sporadically, yet not enough to get excited over.
I didn’t see my Etsy store start earning thousands of dollars monthly until nine months post-launch, which ultimately enabled me to leave my full-time position.
Achieving success isn’t about just one breakout post or an instant launch. It’s about consistently being present, making changes as needed, and remaining committed for long enough to watch your expertise and hard work build upon each other.
3. Feel free to put money into worthwhile educational materials.
When I started learning about business, I tried to DIY everything myself. I would watch free content on YouTube and Instagram, and read books from the library. But after I bought
A class on techniques for selling items on Etsy
, circumstances began to change.
Reflecting on my past self, I realize that “learning the difficult path” was unnecessarily prolonged. I’d attempt to acquire knowledge, face challenges independently, fail to notice improvement, and consequently become disheartened. The lack of visible outcomes diminished my desire to continue studying.
However, once I put some funds into a course along with access to a group focused on similar goals, I had the chance to learn, face challenges, receive assistance, and celebrate minor successes. This boost in my motivation encouraged me to keep repeating this process.
4. Don’t let your life be about work; instead, make work serve your life.
I’ve encountered numerous business proprietors who amass significant wealth yet find themselves short on time. It’s crucial to adopt a strategic approach in crafting your ideal lifestyle.
For instance, you might consider selling items at nearby farmers’ markets during Saturdays and Sundays. However, prior to launching this additional business venture, ensure you check the market hours and reflect on whether you’re ready to dedicate your weekend time to promoting and vending your merchandise.
Certainly, you could bring on staff to assist you down the line. However, this would reduce your earnings, and may not even be feasible at first.
5. Do not let fear take hold when facing the unfamiliar.
The individuals I know who are the most successful possess a growth mindset. They feel that their capabilities can be enhanced through commitment and diligence.
Due to this fundamental belief, they have no qualms about venturing into uncharted areas and acquiring new knowledge. Conversely, individuals with a static mindset do not trust in their capacity for development and learning, hence they abstain from attempting anything new, leaving them perpetually stuck.
Creating various revenue sources and achieving million-dollar status isn’t about executing every step flawlessly. Instead, it involves maintaining focus, acquiring knowledge along the way, and persisting without surrender.
You will inevitably make errors (I certainly have), yet with the proper attitude, these missteps provide lessons that bring you nearer to achieving your objectives. Persistently move forward, adjust whatever isn’t functioning correctly, acknowledge your successes—no matter how minor—and keep in mind: Advancement surpasses flawlessness at all times.
Rachel Jimenez
is an entrepreneur, professor, and mother of two children. Her enthusiasm lies in assisting individuals in reaching their personal, career-related, and residual income objectives. She manages both an Etsy shop and a blog.
Money Hacking Mama
, where she offers financial insights and actionable guidance for women steering through their careers, businesses, and personal lives.
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