Self-made millionaire who makes $14,000 a month in passive income—my best advice for a starting a successful side hustle

CNBC

5 hours ago

Five years ago, I quit my unfulfilling 9-to-5 job as a higher education administrator and began selling digital products on Etsy.
Today, I make an average of $14,000 per month in passive income from seven income streams, including my Etsy store, my blog, real estate investments and stock appreciation. I also recently became a self-made millionaire.
It wasn't an easy road, and I definitely had a few missteps along the way. But I learned how to find my niche, run a business and build the life I want doing what I love.
Here's my best advice for starting a successful side hustle:
One common mistake people make is trying to juggle so many income streams that they start to lose focus. But most people I know who've built a profitable business didn't start out creating their income streams all at the same time.
I've met many new side hustlers who start dabbling in stocks, launch a Shopify store and then look at real estate — all at the same time. This usually results in burnout, overwhelm and even debt.
Instead, build one solid stream, master it, then move to the next.
I started my side hustle in 2010. I made a few bucks here and there, but nothing to write home about.
It wasn't until nine months after my launch that my Etsy store started making thousands of dollars a month and eventually allowed me to quit my full-time job.
Success doesn't happen in a single viral post or overnight launch. It comes from showing up, adjusting and staying in the game long enough to see your knowledge and efforts compound.
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 course about how to sell on Etsy, things started to shift.
Looking back and knowing myself more, I think "learning the hard way" took too long. I would try to learn, struggle alone, not see any progress, then lose motivation. I didn't want to keep learning because I wasn't seeing any results.
But when I invested a small amount of money into a course and a community of people working on the same thing, I was able to learn, struggle, get help and achieve small wins. My motivation would go up, and I would want to repeat the cycle.
I've met many business owners who have a lot of money, but they don't have time. It's important to be strategic in creating the life you want.
For example, you can sell goods at local farmers' markets on the weekends. But before setting up that side hustle, it's important to figure out when those markets are open and ask yourself if you're willing to give up weekends to sell your products.
Of course, you can hire employees to help you eventually. But that will also cut into your profits, and might not be possible in the beginning.
The most successful people I know have a growth mindset. They believe that their abilities can be developed through dedication and hard work.
Because of this foundational belief, they aren't afraid to step into unknown territories and learn. On the other hand, people with a fixed mindset don't believe in their ability to grow and learn, so they never try, which leaves them feeling stuck.
Building multiple income streams and becoming a millionaire isn't about doing everything perfectly. It's about staying focused, learning as you go, and not giving up.
You'll make mistakes (I've made plenty), but with the right mindset, each mistake teaches you something that gets you closer to your goals. Keep going, tweak what's not working, celebrate the wins, even the small ones, and remember: Progress beats perfection every time.