29-year-old quits her job to make $13k-a-month extra income

This Side Hustle Spotlight Q&A features Michelle Hu, a 29-year-old entrepreneur from New York City. Hu was living in Australia and working as an investment banking analyst at Citi when she started the side hustle that became her beauty organizer brand. étoileResponses have been edited for length and clarity.

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When did you start your side and where did you get the inspiration from?
The idea of ​​Etoile came about in November 2016 out of a passion and love for beauty. After years of accumulating products, I wanted accessories and tools that could be organized and bring a sense of calm to my daily routine. A few years later, in 2019, I left my full-time job to pursue Etoile.

“We ordered about 50 units for less than $2,000.”

What were the first steps you took to get your cause off the ground? How much money/investment did it take to launch?
I spent less than $500 and, within a day, started Instagram, posted mood-board-style imagery, registered my ABN (Australian Business Number) and opened a Shopify store. Our first PO (purchase order) was also quite small – it was an acrylic organizer. We ordered about 50 units for less than $2,000.

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Are there any free or paid resources that have been particularly helpful to you in getting this business up and running?
Go shopping! I remember a huge decision at the time was whether I chose to open a store on Shopify or Square, and the lasting consequences this would have at a later date and higher switching costs. I’m so glad I went with Shopify, as it really is the best platform for a primarily online business.

^{Image Credit: Courtesy of Etoile}

If you could go back in your business journey and change one process or approach, what would it be, and how do you wish you had done it differently?
In the beginning, I completely underestimated the value of professional photography. I thought it was expensive and unnecessary, so I borrowed my dad’s camera, took a white sheet and took photos of the products myself. Then I sent them to remove the background. It took me a lot of time, and the pictures were terrible. This just wouldn’t fly in today’s consumer landscape.

When it comes to this specific business, what is something that you have found particularly challenging and/or surprising that people who get into this type of work should be prepared for, but perhaps aren’t?
The amount of content you need to produce and the parameters under which it has to be produced – attractive, branded and cut through. Being able to create a consistent content flywheel for different channels (Instagram, TikTok, email, etc.) is extremely challenging and expensive.

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Can you remember a specific example when something went horribly wrong? How did you fix it?
So many! We’ve had a few product nightmares, but the one I remember most were the really big lighted vanity mirrors we used to carry around with us. We just received this new product, and the first customers to receive it complained about this blue light that kept coming on even when the mirror was closed, which was a nuisance at night. We opened up a mirror to investigate the problem, and it turns out, it was because one of the screw holes in the back was not covered. So my mom and I had to take each mirror apart, tape the holes, and then put it back in the box. It took us about two weeks to go through all 200 mirrors.

“This year, we’re hoping to make $10 million.”

How much did Side Hustle make?
When I left my finance job in late 2018, our monthly revenue was about $13,000.

What do growth and revenues look like now?
In 2022, I moved to New York to expand and launch in the US, which has been the best business decision I have ever made. This year, we’re hoping to make $10 million, which will be a significant step up from where we were when we were only in Australia.

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What do you enjoy most about running this business?
I love dabbling in many different areas and using both sides of my brain – from content and organic marketing to digital advertising, thinking about product roadmaps and campaign ideas, and then being able to switch to a more analytical focus: profitability, pricing and demand planning.

What is your best specific, actionable business advice?
Know the economics of your unit and be conservative about how it is calculated (so instead of just including the cost of your product, include packaging, freight, fees, etc.) to figure out gross profit. Although content is the lifeblood of most businesses, knowing your numbers and making sure you’re not creating content to lose money on every sale is the most important part.

This Side Hustle Spotlight Q&A features Michelle Hu, a 29-year-old entrepreneur from New York City. Hu was living in Australia and working as an investment banking analyst at Citi when she started the side hustle that became her beauty organizer brand. étoileResponses have been edited for length and clarity.

Want to read more stories like this? agree money makersOur free newsletter is full of creative side hustle ideas and successful strategies. Sign up here.