Mar 14, 2023
Today’s guest didn’t wait until she felt totally prepared, totally self-assured and that everything was perfect prior to uploading her first digital product.
Instead, Rachel Jimenez went ahead and launched her Esty shop.
Then as she increased her offerings and started to analyze the data on what was working and what wasn’t, she was able to quit her full time job after 9 months, went on to make $160,000 that year, and she hasn’t looked back.
While you will gain a better understanding of what it takes to launch and run a successful Etsy shop, the insights she shares about mindset, her perspective on what people call failures, and the big “why” that drives her actions, can be applied to increase revenue in any side hustle, in any industry.
You may also be inspired to see a way to retire earlier than you ever thought possible.
If you’re finding it hard to carve out time for your side hustle, you’re going to love what I’m calling her “5-minute strategy” It’s smart. It's simple. And it works.
What You’ll Hear:
03:01 Financial Independence Retire Early (FIRE) movement
05:06 Rich Dad Poor Dad
05:28 Mr. Money Mustache - The Shockingly Simple Math To Early Retirement
06:09 When you get a raise, or receive extra cash, be conscious of what you to with the increase
07:53 “Budget” can be a good thing!
10:05 Dog-sitting side hustle did well rover.com
11:30 Using a platform provides you a place where your customers already are
13:38 Doubling down on Etsy
14:11 Etsy income really ramped up once Rachel focused
15:25 Adopt the mindset of, “There is a solution”
16:51 Digital projects are her specialty with Etsy
17:22 The reasons why Rachel is successful
19:33 Think like a scientist - analyze your data
20:26 Libraries (including college ones) are a very underutilized resource
21:15 Where and how Rachel found the time to work on her side hustles
22:18 The “5-minute” strategy - a path to higher productivity
24:23 What to do when you get scared of taking the next step
25:01 There’s no such thing as “failure” - it’s just data
26:01 You’ve got to be willing to fail…in public
27:10 “If you’re not embarrassed by your beta version, you launched too late!”
28:00 Beware of comparing yourself to people who have been in the industry for a long time
30:03 How to get your product noticed on Etsy
33:15 Expanding her digital product offerings from her own site
35:41 The effect on her business of studying positive psychology
36:22 Optimize Your Life Academy
38:19 Breakdown of Rachel’s 9-5 schedule
39:14 The blur between work and play
42:00 How to get paid to write your own story for media
43:35 Rachel’s best tip for taking action
Takeaway
45:04 Comparing other people’s results against your own
Connect With Rachel:
Passive income checklist:
https://pages.moneyhackingmama.com/checklist
3 Secret Strategies to Optimize Your Life For Success and Happiness:
http://moneyhackingmama.com/webinar
Connect with Joan:
Be on the show!