In today’s economy, more than half of Gen Zers and millennials have a side hustle, with 80% of them citing the need for extra cash as the primary reason, according to a recent survey from LendingTree. From driving for rideshare services to teaching courses online, operating cotton candy vending machines, turning backyards into dog parks, and more, there are endless opportunities for individuals looking to diversify their income streams or even transition into full-time entrepreneurship.
Successful side hustlers often find themselves in a position where their earnings from their side gig surpass their full-time job salaries, prompting them to consider going all in on their new venture. Even those who see less initial return on their side hustles may possess an entrepreneurial spirit and a clear vision that motivates them to commit fully. With the right strategy and mindset, these businesses can also become highly profitable, achieving six- or even seven-figure months.
Three inspiring women who have successfully transitioned from side hustles to multimillion-dollar businesses are Katherine Watercutter, Julie Berninger, and Danielle Cohen-Shohet. Each of these women has a unique journey and area of expertise, but they all share the common experience of turning their side hustles into thriving enterprises.
Katherine Watercutter, the founder and CEO of activewear brand Gold Hinge, started her business as a side hustle while working as a sales representative. Despite facing challenges due to lack of funding initially, Gold Hinge has now gained popularity among celebrities and achieved multi-million dollar sales. Watercutter’s advice to aspiring entrepreneurs is to persevere and not give up, emphasizing the importance of problem-solving in business.
Julie Berninger, an Etsy shop owner and co-founder of Gold City Ventures, transitioned from a project manager role in tech companies to running her own online course business. Inspired by the FIRE movement, Berninger started her side hustle on Etsy, focusing on the bachelorette party niche, before eventually quitting her 9-5 job when her side ventures replaced her salary. Her advice to entrepreneurs is to find a business partner to scale faster and invest in valuable resources to save time.
Danielle Cohen-Shohet, the CEO and founder of GlossGenius, built her all-in-one booking and payments platform for beauty and wellness professionals based on her experiences in freelance makeup and digital receipts payments ventures. With a software company worth over $510 million, Cohen-Shohet emphasizes the importance of being fearless, not taking no for an answer, and surrounding oneself with like-minded individuals for support and collaboration.
These women’s stories and advice serve as inspiration for anyone looking to turn their side hustle into a successful business venture. By staying resilient, seeking valuable resources, finding the right partners, and maintaining a fearless attitude, aspiring entrepreneurs can follow in their footsteps and achieve their entrepreneurial dreams.
