29-Year-Old Quit Her Job to Pursue $13k-a-Month Side Hustle

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

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When did you start your side hustle, and where did you find the inspiration for it?
The idea for Etoile hatched in November 2016 out of a passion and love for beauty. After years of accumulating products, I wanted the accessories and tools that could organize 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 some of the first steps you took to get your side hustle off the ground? How much money/investment did it take to launch?
I spent less than $500 and, within a day, had 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 especially helpful for you in starting and running this business?
Shopify! I remember a huge decision back then being whether I chose to open the store on Shopify or Square, and that that would have everlasting consequences and high switching costs at a later date. I’m so glad I went with Shopify, as it really is the best platform for a predominantly 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’d done it differently?
In the very beginning, I completely underestimated the value of professional photography. I thought it was expensive and unnecessary, so I borrowed my dad’s camera, got a white bed sheet and shot the products myself. I then sent them off to have the background removed. It took me so long, and the images were awful. It would absolutely not fly in today’s consumer landscape.

When it comes to this specific business, what is something you’ve found particularly challenging and/or surprising that people who get into this type of work should be prepared for, but likely aren’t?
The amount of content you have to produce and the parameters under which it has to be produced — engaging, cuts through and on brand. To be able to create a consistent content flywheel for various channels (Instagram, TikTok, email, etc.) is super challenging and expensive.

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Can you recall a specific instance when something went very wrong? How did you fix it?
So many! We’ve had a few product nightmares, but the one I remember most was from these really large lighted vanity mirrors we used to carry. We had just gotten this new product, and the first customers to receive it all complained of this blue light that would stay on even when the mirror was off, which was a nuisance at night. We opened a mirror to investigate the issue, and it turned out, it was because one of the back screw holes hadn’t been covered. So my mum and I had to unbox every mirror, tape up the hole, and then rebox it. It took us about two weeks to get through all 200 mirrors.

“This year, we are hoping to crack $10 million.”

How much did the side hustle earn?
When I left my finance job in late 2018, we were at about $13,000 in monthly revenue.

What does growth and revenue look like now?
In 2022, I moved to New York to expand and launch in the U.S., which has been the best business decision I’ve made. This year, we are hoping to crack $10 million, which will be a significant step up from where we were when we were Australia-only.

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

What is your best piece of specific, actionable business advice?
Know your unit economics and be conservative with how that is calculated (so rather than only including the cost of your product to work out gross profit, include packaging, freight, fees, etc.). Although content is the life of most businesses, knowing your numbers and making sure that you’re not creating content to then lose money on every sale is the most important part.

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

Want to read more stories like this? Subscribe to Money Makers, our free newsletter packed with creative side hustle ideas and successful strategies. Sign up here.