Kendra Scott knows how to turn a lucrative side job into a massive business. In 2002, Scott started a jewelry line as a passion project with just $ 500, and eventually incorporated it into the Kendra Scott brand worth a report. $ 1 billion.
And anyone can “turn a side business into a great source of income if you lead with genuine passion, provide great service and meet a genuine need,” Scott told CNBC Make It.
So if Scott started a side gig today to earn some extra cash, what would she do?
“My side concert would definitely be to have virtual styling sessions,” Scott says. “I’ve always loved fashion and helping people feel more confident.” Even when working from home, people should look great for video meetings, she says.
According to the independent platform Fiverr, virtual coaching prices can range from $ 5 to $ 100 per session, depending on what you coach and your experience.
And “good reviews and word of mouth can go a long way in getting your small business idea off the ground,” says Scott.
Scott started his business out of his guest room in Austin, Texas, just three months after giving birth to her first child.
Baby in tow, she’s gone door to door launch local shops to carry their product. First, she developed Kendra Scott’s customer base locally, then landed large retailers like Nordstrom and Bloomingdale’s.
In 2016, private equity firm Berkshire Partners acquired a minority stake in his company, reported The Wall Street Journal, which valued Scott’s business at over $ 1 billion.
The key, for Scott, was passion. “Do something that you are passionate about,” Scott said during the Dell Women Entrepreneur Network Summit July 9. “I love design and fashion.”
Then, she says, “the sky is the limit”.
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