Want Your Side Business To Be Successful? This Woman’s Monthly Income Exceeds Rs. 19 Lakh

Consider launching a side business if you want to increase your income or pursue a different career path without quitting your present job. But starting a successful side business is no easy feat. It takes a lot of work, perseverance, and energy to effectively commit to many jobs. But what if you had a helper to guide you, list the dos and don’ts, and outline the danger signs? Isn’t it going to simplify things for everyone? Naturally. Bernadette Joy has been doing just that.

Joy’s money-coaching company, Crush Your Money Goals, brought in $279,000 (more than Rs 2 crore) last year, or almost Rs 19 lakh a month on average. When it first started out, it was a podcast in which she and her spouse discussed paying off debt that exceeded $300,000 (about Rs 2.5 lakh).

Joy, who makes money from speaking engagement preparation, freelancing, and coaching, now claims to only put in 20 hours a week, according to CNBC Make It. Joy told the publication that the best advice she could give someone wishing to establish a side business is to concentrate on turning a passion that they like into a source of income.

In Charlotte, North Carolina, Joy ran a side business called Dressed, which matched those looking to rent bridesmaid dresses with those who owned them. She was able to pay off her student debts, quit her job, hire employees, and open a store thanks to it.

But as Dressed grew in popularity, it became less satisfying and more time-consuming. Three years after it opened, she shuttered her business in 2019. She also believes that having gone through her initial experience as an independent contractor and not wanting to return to that role led to a “existential midlife crisis.”

If Joy hadn’t been so enthusiastic about fashion, she never would have founded Dressed. She acknowledges that handling the challenges of growing a business was not something she was naturally good at.

She says that she was disappointed to see several of the gowns returned tattered and stained during prom season in 2019. Joy was forced to buy the ruined clothes from the owners.

Joy reports that she was compelled to put in more hours at her storefront, which was once a dentist’s office converted into a retail location, while her interns struggled without supervision. She said, “I couldn’t see myself working all those hours in retail.”

Her attendance at the FinCon personal finance conference that summer was the turning moment. After listening to the speakers, she realized that she wanted to offer other people greater financial confidence, even if she wasn’t sure where to begin.

She kept recording her podcast while looking at how to launch a coaching business. She launched online registration for the first Crush Your Money group coaching program in March 2020. The business quickly began to produce a profit. Furthermore, there is greater flexibility in the timetable related to this particular job.

“I’m so damn lazy.”

Joy proclaimed, “I don’t want to work all the time,” during the CNBC Make It event at SXSW.

“I always look for the least resistance path.”

Her main takeaway was that you may succeed without coming out as too committed or busy. Her less-is-more approach is included into the design of her coaching program. She claims that changing people’s perceptions of time and money is her aim.