Unlocking $10,000 Monthly: Proven Side Hustle Tips from a 36-Year-Old Mom for Generating Passive Income

36-Year-Old Mom Making $10,000 a Month in Passive Income: My Best Advice for Starting a Successful Side Hustle

Source: CNBC Make It

Introduction

At 36, Rachel Jimenez has transformed her life by generating over $10,000 monthly in passive income through various streams, including selling digital products on Etsy. Here’s her essential advice for anyone looking to start a successful side hustle.

1. Do Your Research

Understanding Demand

Passive income requires initial effort; it’s crucial to conduct thorough research to avoid costly mistakes. Research keywords and market trends on platforms like Pinterest and Google Trends to identify viable opportunities.

Financial Projections

Create a detailed financial plan that includes expected expenses to prevent running out of funds, which is a common reason for business failures.

2. Set Aside Time

Scheduling Commitment

Allocate dedicated time each week to focus on your side hustle. Initially, Jimenez spent 20-30 hours a week, emphasizing that consistent effort leads to success over time.

3. Automate Everything

Utilizing Tools for Efficiency

Automation can significantly reduce daily involvement. Utilize platforms that offer automated delivery and tools like Convertkit for email marketing to streamline operations.

4. Don’t Be Afraid to Ask for Help

Leverage Mentorship

Seeking guidance from mentors and experts can greatly enhance your learning curve. Jimenez found success after taking a course that provided her essential knowledge about selling on Etsy.

5. Diversify Your Income Sources

Spreading Risk

Relying on a single income source can increase vulnerability. Jimenez diversifies her income through stocks, bonds, real estate, and her digital products business.

6. Remember That There Is No Perfect Time to Start

Taking Action

Many get stuck in the planning phase, waiting for the "right moment." Jimenez stresses that taking action is crucial, even if it means starting with small steps. Overcoming fears and self-doubt is key to progressing toward financial goals.

Conclusion

Rachel Jimenez's journey from postpartum struggles to financial success illustrates the power of determination, research, and smart planning in building passive income. By following her steps, others can embark on their path to financial independence.