National Small Business Week, which celebrates the necessary contributions of entrepreneurs and small business owners across the United States, is quickly approaching. Nowadays an an increasing variety of Americans they see themselves starting their very own ventures. Young people are particularly interested: according to a report published by “Generation Z”, 50% of Generation Z representatives want to grow to be entrepreneurs or start their very own business. Samsung and morning consultations.
However, Americans of all ages are entering the era of additional work, with 39% selecting to take on extra work and 44% believing they are going to at all times need extra work to sustain with the bills. Bank rate questionnaire. However, the actions of one party are not necessarily equivalent to the other in terms of investment of time and money – or potential return. While app-based tutoring or dog walking could be a convenient way to earn extra money, they’re less likely to exceed the income of a typical 9-5 than a side hustle on your way to small business status.
So what does it take to turn your side hustle into a full-fledged small business or start one straight away? Entrepreneurs whose successful businesses began as a side hustle can share some critical insights, including three of them featured in our ongoing Side Hustle Spotlight series: Greg Kerr, owner of Alchemy Merch; Kim Vaccarella, founder Bogg bag; and Sarah Michelle Boes, founding father of Sarah Michelle NP Reviews (SMNP).
Read on to learn more about their journeys and secrets to side quest success:
1. Greg Kerr, founding father of Alchemy Merch
Kerr was working as a musician when he began selling custom pins in 2015. Today, Alchemy Merch is a full-time company that creates custom merchandise for corporations akin to Apple, Nickelodeon, National Geographic, Nike and others, in addition to independent artists looking for ways to monetize their work in recent ways. Kerra’s sales grew from $0 to $1 million in 18 months, and for the past few years, annual revenues have reached just below $2 million.
Kerr’s advice: (*3*)
2. Kim Vaccarella, founding father of Bogg Bag
In 2008, Vaccarella was working in business real estate when she got here up with the idea for a “better beach bag” — one that was sturdy, large and washable. Vaccarella began working full-time in the industry in 2018 and set an ambitious goal for herself: $1 million in sales. Bogg Bag achieved this goal and exceeded $50 million in revenue by 2023. This 12 months, the company goals to exceed the $100 million sales mark.
Vaccarelli’s advice: “My mantra? Slowness and consistency wins the race. Starting a business from scratch is a learning experience like no other. I’m a believer in doing every part of the operation hands-on, even if it means cleaning out the warehouse alone. It’s about trusting your instincts, moving at the right pace, and keeping the lines of communication open with everyone you meet. You’d be surprised what connections you can make and what you can learn from them.
3. Sarah Michelle Boes, founder of Sarah Michelle NP Reviews (SMNP)
When passing the nursing exam turned out to be easier than she expected, Sarah Michelle Boes wanted to inspire confidence in others, so she created an online review course. This side business grew into seven figures in just seven months, then sold to Blueprint Test Prep in 2022 after two years for a “life-changing” sum. Boes currently serves as the chief nursing officer at Blueprint Test Prep.
Boes’s advice: “I don’t want to sound corny, but I’ll just start. Because I had an idea in the car [and ran with it]. I made the first recordings of our courses on Zoom; Our air conditioning went out and it was Memorial Day weekend and I’m sitting in the attic sweating because it’s the only quiet place to record. I didn’t have a website until September. We are on Zoom, [arranging] via Facebook, [getting paid via] Venmo, cash app or Zelle. So you literally just have to start and then you can figure things out as you go. It doesn’t have to be really polished or fancy. If you have a great product that people like, they won’t pay attention to that type of thing.”