From Layoff to Success: How a Facebook Side Hustle Earned Nearly $3 Million and Bought My Mom a $50,000 SUV

After Being Laid Off, He Started a Side Hustle With Facebook. It Made Almost $3 Million Last Year: 'I Bought My Mom a $50,000 SUV.'

Source: Entrepreneur

Overview

Carlos Ugalde, the founder of House of Chingasos, transitioned from a copywriter to a successful entrepreneur after losing his job. By leveraging social media and e-commerce, he generated significant revenue within months, showcasing the potential of side hustles.

Key Takeaways

• Testing and Social Media Advertising: Ugalde utilized consistent testing and social media ads to stand out in a competitive market.
• Rapid Revenue Growth: By the third month, his business was earning over $50,000 monthly.

The Start of the Journey

Background

Carlos, 52, was working as a copywriter at a marketing agency when he was laid off in December 2018. Faced with slim prospects of reemployment, he chose to start his own business.

Initial Steps

He quickly set up a Shopify store, created a few basic designs, and integrated it with Printful's print-on-demand service while learning digital marketing through Facebook ads.

Challenges and Strategies

Initial Challenges

Ugalde faced significant hurdles, including a lack of knowledge in digital marketing and uncertainty about product appeal in a crowded marketplace filled with established brands.

Effective Strategies

He employed a strategy of frequent testing with social media ads to gauge customer preferences. This data-driven approach allowed him to refine product offerings, resonate with his Latino audience, and differentiate from competitors.

Financial Growth

Revenue Milestones

• First Month: $2,500
• Second Month: $11,000
• Third Month: $54,000

Current Success

In 2023, House of Chingasos achieved nearly $3 million in revenue, marking a substantial growth of almost 70% from the previous year.

Personal Satisfaction

Connecting with the Community

Ugalde takes pride in creating products that connect with his Latino audience and finds fulfillment in the autonomy that entrepreneurship provides.

A Personal Reward

As a reflection of his success, he recently gifted his mother a $50,000 SUV, highlighting the personal rewards of his entrepreneurial journey.

Advice for Aspiring Entrepreneurs

Carlos encourages others to pursue their goals by focusing on solutions rather than obstacles and to maintain a flexible mindset while continuously learning throughout their journey.