According to a recent Millennial survey, greater than half of Gen Z and Millennials have other jobs, and 80% of them say they need extra money due to the state of the economy. Loan tree. From driving for a rideshare service to teaching online courses, operating cotton candy machines, turning your backyard into a dog park, and more, there’s something for anyone looking to diversify their income streams – and anyone who might want to start full operation. also time entrepreneurship.
Sometimes, successful side hustlers increase their earnings to the point that they exceed the salaries they might earn from a full-time job, and it makes sense to commit full-time to the recent enterprise. But even people whose side businesses bring less initial profit can have an entrepreneurial spirit and a clear vision that motivates them to commit fully, and with the right strategy and attitude, these businesses can even grow to be highly profitable, achieving six and even seven-figure profits . months.
Below are three women who have done just that: Katherine Watercutter, founder and CEO of the sportswear brand Golden hinge; Julie Berninger, co-founder of the e-printables curriculum Events in the Golden City; and Danielle Cohen-Shohet, founder and CEO of the booking and payments platform ShineGenius. Their paths and areas of experience vary, but all of them know what it takes to go from a side hustle – possibly profitable, possibly not – to a successful, multi-million dollar business.
Here are their stories and best suggestions for business success:
Katherine Watercutter: The Golden Hinge
Katherine Watercutter is the founder and CEO of sportswear brand Gold Hinge. When Watercutter was 23 and working as a sales representative for a distribution company that worked with kitchen and bathroom designers throughout Indiana, she began her side hustle. In the starting, the most important obstacle was lack of funds, but today Gold Hinge’s fans include stars resembling Kristin Cavallari and Kaitlyn Bristowe. The brand also became popular during “TikTok”RushTok”, garnering 40 million hashtag views and multi-million sales.
Watercutter’s advice: “My advice may seem cheesy, but don’t give up. Nowadays, people are impatient and sometimes give up quickly when they feel like they are constantly failing. Several times I thought I had nailed it. it hit rock bottom and I exhausted all options, but I found a way around it. I felt like I was constantly failing for three years, and I know many would have given up by then, but business is about solving problems.”
Julie Berninger: Ventures in the City of Gold
Julie Berninger is the owner of an Etsy shop and co-founder of Gold City Ventures with Cody Berman. Berninger worked as a project manager for large technology firms and planned to stay in the industry long-term, but the Financial Independence, Retire Early (FIRE) movement inspired her to start a side business. She opened an Etsy shop focused on the bachelorette party area of interest and then co-founded an online course company that teaches other entrepreneurs how to succeed on the platform. She quit the 9-5 in 2021 when income from her ventures replaced her salary.
Berninger’s advice:Don’t start a business alone! Choose a business partner and scale faster! Also, don’t waste your time researching on YouTube. Pay for a step-by-step program or a business consultant because your time is useful.”
Danielle Cohen-Shohet: Glossy Genius
Danielle Cohen-Shohet is the CEO and founding father of GlossGenius, an end-to-end booking, payment and point of sale solution that helps beauty and wellness professionals increase bookings and grow their businesses. In college, Cohen-Shohet did her makeup in her dorm room, and she and her twin sister also collaborated on a enterprise into digital payments with receipts. Ultimately, she used these experiences to help self-care entrepreneurs run higher businesses and build a software company valued at over $510 million in the process.
Cohen-Shohet’s advice: “Be fearless. Don’t take no for an answer. And, importantly, surround yourself with like-minded people. You can find it through a community like the one we’ve created for entrepreneurs within GlossGenius, or you can search for people closest to you. I have had many close supporters along the way, but my strongest collaborator is my twin sister, Leah. She was my consulting partner from the very beginning and played an invaluable role in growing the company to what it is today. So surround yourself with people who get you.”