Side Hustles

Four Self-Made Millionaires Share a Common Piece of Advice for Success: Just Get Started

by
Four Self-Made Millionaires Share a Common Piece of Advice for Success: Just Get Started Published Thu, Jun 20, 2024, 9:55 PM EDT By Ernestine Siu @ERNESTINESIU Building a successful business from the ground up isn't easy, but it's certainly possible. Throughout my time at CNBC, I've spoken with numerous entrepreneurs, from side hustle starters to founders of global unicorn companies. Their journeys boil down to one crucial element: belief in oneself. These entrepreneurs believed in their potential, knowing it wouldn't be easy but understanding it was possible. They risked and sacrificed almost everything for their dreams. Though seen as inspirational figures, they are often ordinary individuals who have faced setbacks and learned valuable lessons. From my conversations with these successful entrepreneurs, a common thread emerges: Advice #1: Anyone Can Do It Jason McGowan co-founded Crumbl Cookies in 2017 without any professional baking experience. Today, Crumbl boasts about 1,000 locations worldwide and generated over $1 billion in sales in 2022. “I never imagined in my wildest dreams that we would do over $1 billion in sales,” McGowan shared. “As I build this company, I realize more and more — everything that we do is really just something that anyone can do.” Similarly, Anne Mahlum, founder of boutique fitness chain Solidcore, echoes this sentiment. After founding Solidcore in 2013, the company has grown to over 100 locations, and Mahlum made $88.4 million from cashing out her equity in 2023. “The biggest thing I've learned through Solidcore is: You can do whatever you want to do, as as long as you're willing to do it,” Mahlum said. Advice #2: Lean Into What Makes You Unique Mahlum also emphasizes the power of uniqueness, attributing her success to embracing what makes her different. “I believe in the power of uniqueness. When we lean into our uniqueness, it works in our favor,” she said. Edward Tirtanata, co-founder and CEO of Kopi Kenangan, shares this view. He advises entrepreneurs to be different, noting that the next big companies won’t look like the current industry giants. “The next Starbucks is not going to look like a Starbucks,” Tirtanata said. Founded in 2017, Kopi Kenangan has grown into an international brand with over 800 locations and more than $100 million in annual sales. Advice #3: Be Passionate Shawn Tsao, co-founder of the food-delivery service Caviar, started his business out of a love for sandwiches. His passion helped him persevere through challenges. “If you're really passionate about the product that you're building, that will get you through the hardest days,” Tsao said. Caviar was acquired by Square (now Block) in 2014 for over $100 million, making Tsao and his co-founders millionaires. The passion that fueled Tsao's journey is a common thread among these entrepreneurs, whether it's Tirtanata's love for coffee, Mahlum's dedication to fitness, or McGowan's enthusiasm for cookies. Advice #4: Just Get Started The most frequent advice I’ve heard from entrepreneurs is to simply get started. “Nike got it best, ‘just do it.’ I have a phrase that says: ‘Just have a day one,’” Mahlum advised. McGowan echoed this sentiment, emphasizing the importance of taking action early on. “One of the biggest lessons I’ve learned from starting Crumbl is just to get started,” he said. “Action in the early stage is really important to success — just to move.” These founders achieved their success by believing in themselves, taking risks, and embracing the journey from day one. Looking to make extra money outside your day job? Sign up for CNBC's new online course, How to Earn Passive Income Online, to learn about common passive income streams, tips to get started, and real-life success stories. Plus, subscribe to CNBC Make It's newsletter for tips and tricks for success at work, with money, and in life.

Building a successful business from the ground up isn’t easy, but it’s certainly possible. Throughout my time at CNBC, I’ve spoken with numerous entrepreneurs, from side hustle starters to founders of global unicorn companies. Their journeys boil down to one crucial element: belief in oneself. These entrepreneurs believed in their potential, knowing it wouldn’t be … Read more