A Journey from Corporate to Entrepreneurship
After being laid off in 2015, I made a significant life change by stepping away from corporate America and embracing the world of entrepreneurship. This decision marked the beginning of my journey as a full-time entrepreneur. I focused on building my personal brand and growing my side hustle called Bridesmaid for Hire, which offers a range of services including bridesmaids for hire, wedding day support, and assistance with speeches and vows.
This transition came at a cost. I went from a traditional 9-to-5 job to working over 70 hours a week. For almost a decade, I ran my business independently, traveling across the country and putting in the necessary hours to keep things running smoothly. However, when I became a mother in 2023, my priorities shifted. I wanted to spend more time with my daughter while still maintaining my business. This led me to pivot towards creating passive income streams, which now form the core of my business model, generating around $6,300 a month.
Tips for Starting a Side Hustle with Passive Income
If you’re looking to start a side hustle that generates passive income, here are some key strategies I’ve found effective:
Take Advantage of What You Already Have
When I realized my website attracts nearly 40,000 users a month, I decided to monetize it through ads and affiliate links. It’s essential to audit your existing resources, whether it’s a social media following, an email list, or a skill set that’s in demand among your friends. For example, if you’re the go-to person for help choosing art for walls, or the social media video specialist in your friend group, there are ways to generate revenue from those foundations. It’s often faster and more reliable than starting from scratch.
Listen to Your Audience
I’ve learned firsthand how easy it is for side hustles and passive income streams to fail due to a lack of interested audience. I once spent hundreds of dollars and over 20 hours building a course that no one purchased. Before launching any idea, ensure there’s an audience for it. If I plan to invest in a new tool, I’ll first write several blog posts incorporating SEO keywords related to the topic. I also share these with my newsletter subscribers and social media followers to gauge interest.
If you have a TikTok or Instagram following, pay attention to engagement patterns. What types of posts receive the most interaction? What are people asking in the comments? Can you create a product that addresses their needs?
Turn Time-Intensive Services into Scalable Products
After becoming a mother, I realized I was spending too much time on non-scalable tasks. One of my most popular services is writing wedding speeches, which took five to six hours each. To reduce the burden, I partnered with a developer to create AI wedding speech and vow tools, trained using over 200 of my past speeches. This allows me to maintain quality and style while serving more customers at a lower price point.
Repurpose Your Expertise
I believe in the power of diversification. I’ve pursued multiple passions and skills, and haven’t been afraid to explore different areas. Recently, I repurposed my speech-writing tools, originally designed for the wedding industry, to help people write eulogies and graduation speeches. This allowed me to create additional passive income streams without starting from scratch.
Set Time Boundaries to Force Better Business Decisions
I used to think that being an entrepreneur meant working 24/7, but this mindset led to burnout. Now, I only work 20 to 25 hours a week, which forces me to evaluate which activities generate income versus those that just fill my calendar. I limit phone calls to one day a week and set 15-minute limits for each. During my work hours, I block social media and news websites. I say no to events, meetings, or busy work that doesn’t align with my goals.
Having less time available has forced me to focus on what truly moves the needle rather than getting caught up in tasks that feel productive but don’t pay. I get more done working a third of the hours I did in the past.
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