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How I Transformed My Side Hustle into a $20,000 Monthly Business

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From Corporate to Coaching: The Inspiring Journey of Jean Kang

Jean Kang, 32, has transformed her professional life by venturing into entrepreneurship, generating approximately $20,000 monthly through her burgeoning coaching business. Her evolution from a corporate career in technology to a successful business owner is a narrative of resilience and adaptability.

Raised in the San Francisco Bay Area, Kang always pictured herself as part of the tech industry’s elite. Although influenced by shows like ‘Shark Tank’ and surrounded by Silicon Valley’s innovation, she never imagined taking the entrepreneurial plunge herself. “I grew up watching a lot of ‘Shark Tank’ and thought it was always fascinating. I never thought that it could be me though,” she remarked in a recent conversation.

After graduating in 2014, Kang embarked on a decade-long journey within the tech sector, marked by challenges and learning experiences. Her path was not straightforward; she faced firings and transitions through multiple roles in various companies, ultimately serving in diverse functions, including sales, operations, and strategy. In 2020, she discovered her talent for program management, which became the foundation for her subsequent venture.

Launching the Coaching Venture

In 2022, after noticing a growing demand for mentorship in program management, Kang decided to dive into coaching. She announced her new venture, ‘Path to PM’, through a simple LinkedIn post, inviting aspiring program managers to book coaching sessions with her. This initial step launched her side hustle, where she focused on creating valuable career content and guiding clients through their career transitions.

By the close of 2023, Kang’s coaching business had generated nearly $30,000 in revenue, successfully assisting ten clients in securing new roles. “I was very shocked that I could supplement my take-home pay from my tech job… that blew my mind,” she expressed, reflecting on her surprising success.

Transitioning to Full-Time Entrepreneurship

While balancing her corporate job and side hustle, Kang dedicated an additional 15 to 20 hours a week to her coaching business. However, by early 2024, she began feeling overwhelmed with the dual commitments. “I was doing two jobs full-time… my vacations were nonexistent,” she noted, recognizing the toll this took on her well-being. It led her to question what she could achieve if she fully committed to her coaching business.

When the startup she worked for offered a voluntary separation package, Kang seized the opportunity to leave her corporate role behind. After careful consideration and discussions with her husband, she took a leap of faith. “I didn’t want to wait for the perfect conditions,” she stated. “I would just rather do it now and figure things out.”

Since leaving her tech job in February, Kang has been on track to replicate her $180,000 annual salary from her previous position. In just eight months, she has accrued around $160,000 in her coaching venture.

Today, she has expanded her business through various monetization strategies, including brand partnerships and royalties from her LinkedIn Learning course, while building a substantial following of approximately 100,000 on social media. Additionally, she has pivoted from one-on-one coaching to implementing group programs, further enhancing her business model.

Key Strategies for Entrepreneurial Success

Kang shares several essential tips for those looking to build a successful side hustle:

  • Identify a need that you can uniquely address.
  • Create a minimum viable product (MVP) focused on fulfilling that need.
  • Continuously refine and grow your offerings to maximize time and income efficiency.
  • Practice discipline and stay committed to execution.

According to Kang, successful entrepreneurship hinges on recognizing and addressing real-world needs rather than solely pursuing personal aspirations. Aspiring entrepreneurs should evaluate their strengths in relation to market demands to identify lucrative opportunities.

Creating an MVP, like Kang’s initial offering of one-on-one coaching, enables entrepreneurs to test their ideas and adapt based on feedback. “I ship things out even when it’s not perfect,” she asserts, emphasizing the importance of execution over perfection.

Today, Kang dedicates 35 to 45 hours weekly to her business while enjoying the freedom that entrepreneurship affords her. “I’ve learned a lot and I’m continuing to reinvest in myself,” she concludes, sharing a message of empowerment and determination.

Source
www.cnbc.com

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