Rebellions are built on hope
O'Dell told CNBC Make It that he devotes one day a week to his side hustle while working four days a week as a nurse anesthetist. His full-time job pays him $240,000, so he's not planning to give it up anytime soon.
"It's kind of hard to beat an anesthesia salary," he said. "I've got three kids, and I want my kids to go to college."
Balancing both jobs has been challenging. O’Dell admits to losing sleep and feeling stressed. But his creative work helps him cope with the more intense pressure of his hospital job.
"The burnout that I feel at the hospital fuels my energy to do the other thing for myself," he said. "It turns the volume down when everybody's mad at work. I hear it, but I'm like, ‘I'm not going to manage my people that way.’"
Despite Legit Kits bringing in over $1 million last year, O’Dell says the business isn’t profitable enough for him to quit his day job just yet.
"You don't really get to keep most of the money that your business makes," he explained. "It goes right back into it. When we were consistently breaking $100,000 a month in sales, I was like, ‘Yeah, this is it. But then you're spending $100,000 a month, too.’ "
This year, he plans to pay himself just $50K from his business, although he hopes that the number will grow as he increases marketing efforts, hires for custom work and tries to expand into more retail stores.
While it may not yet match his hospital salary, O’Dell values the flexibility and reduced stress that Legit Kits could eventually offer if it continues to grow.
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O'Dell believes there are many opportunities to start a successful side business — it’s just a matter of finding one that fits your skills and passions.
One of the easiest ways to start is to use platforms designed for part-time work. Apps like Uber, Lyft, Thumbtack, and Rover make it simple to earn cash by offering services such as ridesharing, handyman tasks and pet sitting.
However, these platforms often cap your earning potential. If your goal is to turn your side hustle into a substantial business, you may need to offer more specialized skill, — such as freelance writing, tutoring or engineering — or identify a specific market need and build a business to address it.
Think about what your strengths and interests are. What gaps are there in the market that you might be able to fill? You might sell products on Shopify or Etsy, or create your own website and use social media to attract customers.
As O’Dell advises, it’s important to set clear goals so you know what you’re working toward.
You'll also need to manage your time carefully to avoid burnout. Most people find that 10 to 20 hours a week is manageable alongside a full-time job. And, like O'Dell, you should be prepared to reinvest your profits if you want to grow your business.
If you're serious about success, research the market and craft a business plan that outlines your path to profitability. That way, your million-dollar idea stands a better chance of actually earning a million someday.
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