Big Businesses That Started as Side Hustles

These success stories debunk the common misconception that you have to quit your day job to turn your side hustle into a thriving business.

Image credit: SrdjanPav | Getty Images

Big businesses that started as side hustles

It’s a common misconception that your side hustle cannot become a successful business unless you dedicate 100% of your time and money to it. While it’s true that you cannot just expect a side hustle to become something more without any effort on your part, you can turn a side hustle into a full-time business without quitting your day job. How exactly can you do this? By regularly funding your side hustle with a portion of your 9-to-5 paycheck.

Aytekin Tank, Founder of JotForm

Before founding JotForm in 2006, Aytekin Tank worked as a senior web developer for a large Internet media company in New York City. During his five-year tenure, Aytekin Tank was frequently tasked with creating tools with which editors could create unique forms, like surveys. However, Aytekin Tank often found the existing tools on the market wholly insufficient.

Andrew Mason, Founder of Groupon

While Andrew Mason working toward a Public Policy Degree at the University of Chicago, he started developing The Point, a platform that introduced the “tipping point” concept of donating funds towards a particular cause. With The Point, users could collectively fundraise in support of a common goal. However, if the goal did not reach a certain number of supporters or a minimum monetary amount, no one would be charged and the goal would be abandoned. This “tipping point” concept would later form the basis of Andrew Mason’s subsequent endeavor, Groupon, with partners Brad Keywell and Eric Lefkofsky.

Eren Bali, founder of Udemy

In the mid-2000s, Eren Bali worked as a freelance web developer based in Turkey. While working for various clients, including the now-defunct, Bali was putting his extra time and funds toward his own passion project. In 2007, he developed software for a live virtual classroom. He saw a lot of potential in his new creation, so he saved up the funds to move his base of operations to Silicon Valley.

How to Turn Your Side Hustle into a Full-Time Business

It’s easy to look at success stories and feel that these side-hustlers-turned-business-owners just got lucky. While there is a certain amount of luck involved in every entrepreneurial endeavor, there are actionable steps you can take to turn your side hustle into a successful full-time business. Based on the examples above, you can reverse engineer their experiences to find a process that works for you. So, let’s take notes from successful entrepreneurs like Aytekin Tank, Andrew Mason, and Eren Bali!

Find and perfect your idea

In all three examples above, the founders of successful side-hustle businesses had ideas that they put into action. Often times, these ideas combined their existing skills or passions with a gap in the market. For example, let’s say that you are an excellent communicator and have expert knowledge in a particular niche. You could begin consulting for businesses in that niche. From there, you could set aside funds from your job to market and grow your side-hustle consultation services into a full-time business! This brings us to the second important step…

Develop a funding strategy

Most people begin side hustles to make money. However, to turn a side hustle into a business, you’ll need some starting capital. As a result, you’ll likely need to dedicate a small portion of your paycheck toward building your side hustle. This may sound counter-intuitive, but it’s actually a sound business strategy.

Launch your business

It may seem like an unimportant distinction, but a side hustle becomes a business once you identify it as such. Side hustles are essentially part-time, temporary work to make extra cash; businesses are long-term investments with the potential to grow and create much larger returns. So, once you officially launch your business as an LLC or similar entity, you’ve taken an important step in your transition from side hustler to business owner!

Time to get started

Turning a side hustle into a big business doesn’t mean you need to quit your day job. In fact, a day job has allowed hundreds of entrepreneurs to routinely fund their side hustles, eventually transforming them into full-time businesses. Up-and-coming entrepreneurs sometimes argue that leaving their much-hated nine-to-five jobs to focus on a full-time business will increase their chances of success. While there is validity to the point that you can’t just “set it and forget it,” you don’t need to completely upend your financial life or career to build your business. Instead, routinely fund and dedicate extra time to your side hustle until you’re ready to launch your business venture.

Milan Kordestani is a 21-year-old serial entrepreneur whose most notable startups include Guin Records, Dormzi, and The Doe.

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