The modern gig economy has paved the way for the increase of side hustles, leading many individuals to turn their passions and hobbies into successful businesses. Thanks to advancing technology and the ease of starting a side business, more and more people are exploring entrepreneurship as a viable career path.
In the past, starting a business may have required large sums of money, comprehensive business plans, and a team of professionals to assist with the start-up process. However, in today’s world, it only takes a great idea, hard work, and time invested in building a successful side hustle. Blend in a little bit of persistence and determination to achieve the kind of results dreamed of for it to flourish.
These days, it appears that starting a side hustle could easily transform into a full-time business venture, and many successful companies began with their founders working on them as passion projects during their free time. In this post, we will explore five successful startups: Airbnb, Warby Parker, Slack, Instagram, and Spanx, that have emerged as some of the strongest companies today, thanks in large part to their founders’ entrepreneurial spirit and dedication. These enterprises provide the inspiration, knowledge and a visual representation of what’s possible, and how success is within reach for others. So, buckle up, and let’s dive in!
Case Study 1: Airbnb
When two struggling roommates in San Francisco decided to rent out air mattresses on their living room floor to guests in need of lodging for a conference, they didn’t expect their idea to blow up into a multi-billion dollar business. Brian Chesky and Joe Gebbia were simply trying to make ends meet in their pricey city, but little did they know that their side project would change the way we travel.
Their initial success led to the birth of Airbnb, a platform that allows anyone to rent out their home or spare room to travelers looking for affordable accommodations. With over 7 million listings across 220 countries, Airbnb has revolutionized the hospitality industry and become a go-to for budget-conscious travelers and adventurous hosts alike.
Their success story demonstrates the power of turning a side hustle into a full-time venture. By developing and refining their idea, Chesky and Gebbia were able to build a company that now employs thousands and has made travel more accessible than ever before. If their story teaches us one thing, it’s that good ideas can come from anywhere and can lead to success beyond our wildest imaginations.
Their initial success led to the birth of Airbnb, a platform that allows anyone to rent out their home or spare room to travelers looking for affordable accommodations.
Case Study 2: Warby Parker
When four friends were huddled around a kitchen table discussing their mutual dislike of the high prices of eyewear, they never thought they were about to launch the next disruptor in the ecommerce space. In 2010, Neil Blumenthal, Dave Gilboa, Andy Hunt, and Jeff Raider came up with Warby Parker as a side hustle while studying business at the Wharton School of the University of Pennsylvania.
Their business model was simple: sell affordable, stylish glasses that they would design themselves directly to consumers through their website. This would eliminate the middleman and make it simpler for customers to get eyeglasses without spending exorbitant amounts. They initially tested their concept by taking their frames, which they sourced in Asia, to fashion showrooms. They discovered that not only was there a demand for quality glasses at reasonable prices, but customers preferred the deliberate designs sprouted from ethical and sustainable means.
The company further innovated in the space of customer service by introducing a home try-on service that mailed frames to customers to try on for a few days, and allowed them to send back those they didn’t want (free of charge, the appropriate markings for prescriptions included). Although this trial feature initially led to suspicion regarding the startup, the free shipping and increased emphasis on flexibility and personal–styling has led to brand loyalty, people continue to return to the company for all their eyewear needs because of the innovative ideas had in the early stages.
As they ventured into new product lines and expanded their footprint with the hiring of a highly-skilled team, Warby Parker’s initial purpose had become secondary. What started out as an endeavour to disrupt the eyewear industry became a socially-conscious company recognised worldwide for its innovative approach to business.
The founders’ approach to Warby Parker earned them the honour of being named the most innovative company of 2015 by Fast Company. They fled their jobs in consulting working way more than forty-hour weeks while simultaneously guiding the success of Warby Parker – which beat industry averages for revenue and popularity in 2013 – and went on to launch an empire that advanced the tenets of ecommerce space.
Warby Parker’s aesthetic exceptionalism and community-focused, hand-crafted visuals added dimension to the seemingly stale eyewear industry. By offering high-quality glasses at unbeatable prices, shaking up the shopping experience by evolving customers in the design process, at-home makeup and contact lenses, the company’s philosophy gave fruition to the $100 million raised in funding they reached in its first seven years alone.
Warby Parker’s story demonstrates that a fresh take on retail and a new beginning from a passion project can end in stability, growth and impactful success.
The company further innovated in the space of customer service by introducing a home try-on service that mailed frames to customers to try on for a few days, and allowed them to send back those they didn’t want (free of charge, the appropriate markings for prescriptions included).
Case Study 3: Slack
Slack, the widely popular messaging app that revolutionized communication in the workplace, began as a side project by a team of game developers. The project, known as Glitch, was initially created as a way for the team to develop a multiplayer game. However, they quickly realized that their new communication tool can be a game-changer for the entire industry.
Co-founders Stewart Butterfield, Cal Henderson, and Eric Costello harnessed their passion for creating innovative tools for their team and turned it into a full-time venture. They launched Slack in 2014 and within a mere two years, they received a billion-dollar valuation.
What started as a passion project for a team of game developers soon became the most widely used and appreciated messaging app in the business world. It helped people streamline work processes, automate mundane tasks, and focus on more important aspects of their jobs.
Slack’s story is a testament to the power of passion and persistence. The team behind the app was persistent in creating a communication tool that was not only efficient but enjoyable to use. They remained determined to make their side hustle into a full-time venture, even when faced with numerous obstacles and challenges.
Slack’s success is a call to action for those with a passion project or a side hustle. It proves that with hard work, dedication, and a whole lot of grit, anything can be transformed into a profitable and fulfilling venture.
Slack’s story is a testament to the power of passion and persistence.
Case study 4: Instagram
Instagram began as a small photo-filtering app created by Kevin Systrom and Mike Krieger. They started their project as a side hustle for fun, with no idea of its potential success. However, after launching in October 2010, the app quickly gained popularity, reaching one million users just two months later. Systrom and Krieger recognized the potential of their side project and left their stable jobs to turn Instagram into a full-time business.
What started as a simple photo-filtering app grew into a social media platform with over one billion active monthly users. Instagram became a perfect example of a passion project transformed into a giant business. Systrom and Krieger’s determination and persistence helped them overcome countless obstacles, like moving from idea to product, scaling, and ultimately keeping users engaged.
The initial idea behind Instagram, sprl2y named Burbn, was to create a mobile application that would allow users to check in their location, earn points for frequenting bars, and share photos of their activities. However, once Systrom and Krieger began digging deeper, they realized that the photo-sharing component of their app had massive potential. This simple act of pivoting to their vision of a simple and streamlined photo-sharing app ultimately led to Instagram’s explosive growth and massive success.
Instagram remains an inspiration to many entrepreneurs aspiring to transform their passion and project into a successful business. One of the crucial lessons to learn from Instagram’s journey is the importance of pivoting. Systrom and Krieger pivoted fast to capitalize on the app’s most promising feature, turning a simple photo-sharing idea into an incredibly successful social media platform.
Another lesson from Instagram’s story is the power of passion, persistence, and dedication. Systrom and Krieger had the passion and dedication for their project, and despite hurdles, they never gave up. Their passion fueled their never-ending drive and helped them scale Instagram to unprecedented levels.
Instagram’s success can be attributed to its founders’ drive, determination, and willingness to pivot. It serves as an inspiration to many entrepreneurs who aspire to convert their passion projects into a lucrative enterprise. Just like Instagram’s founders, if you have a passion project that you believe in, don’t give up on it. Follow your vision, pivot when you need to, and stay focused on your goals. Who knows, your side hustle may just turn out to be the next billion-dollar business.
What started as a simple photo-filtering app grew into a social media platform with over one billion active monthly users.
Case Study 5: Spanx
Sara Blakely was working as a door-to-door saleswoman when her idea for creating undergarments that wouldn’t show panty lines came to her. She spent her nights working on her invention and her weekends selling them at trade shows. This side hustle eventually led to the creation of Spanx, a billion-dollar shapewear empire.
Blakely faced many challenges along the way, including convincing manufacturers to produce her product and finding distribution channels. But she persisted and even used her own savings to fund the business. Her determination paid off when Oprah Winfrey featured Spanx on her show in 2000, leading to a massive sales boost.
Today, Spanx is a household name and enjoys a loyal following among women everywhere. Blakely’s success serves as a testament to the power of taking an idea and turning it into a full-time venture.
So, if you’re thinking about starting a side hustle but aren’t sure if you have what it takes, remember the stories of these successful entrepreneurs and how they started from humble beginnings. With hard work, passion, and persistence, anyone can turn their passion project into a thriving business. Don’t let excuses or fear hold you back. Take the first step, and who knows where it could lead. The possibilities are endless!
Turning Your Side Hustle into a Successful Business Venture
Congratulations, you’ve made it to the conclusion of our post! You now know the inspiring stories of five successful businesses that all started as passion projects (aka side hustles). From Airbnb to Spanx, these entrepreneurs turned their hobbies into billion-dollar companies.
What can you learn from these success stories? First and foremost, it’s never too late to pursue your dreams. All of the aforementioned companies were started by individuals who were working regular jobs before turning to their passions. Just because you may have already established a career, it doesn’t mean you can’t start a side hustle.
Secondly, don’t be afraid to take risks. Each of these entrepreneurs took a leap of faith by dedicating their time and energy into their side hustles. It’s easy to let self-doubt hold you back, but sometimes you just have to believe in yourself and take the plunge.
Lastly, turning your side hustle into a full-time business requires persistence and determination. Starting your own business is not easy, and setbacks are inevitable. But by remaining focused on your vision and persevering through any obstacles, you can achieve success.
So, what are you waiting for? If you have a side hustle that you’re passionate about, take inspiration from the success stories of Airbnb, Warby Parker, Slack, Instagram, and Spanx, and turn it into a full-time venture. Remember, anything is possible.