Becky Powell dedicates an average of 10 hours per week to crafting digital worksheets, available for purchase by fellow educators. The 41-year-old kindergarten teacher from Beaverton, Oregon, generated a total income of $125,500 through this venture last year, as per CNBC Make It’s review of relevant documents. Powell sells her literacy-focused worksheet booklets on Teachers Pay Teachers, an Etsy-style online marketplace.
Under the banner of her store, Sight Word Activities, Powell currently showcases 427 diverse listings, ranging from complimentary downloads to a $30 bundle containing 20 booklets. Beginning her side hustle in 2015, Powell initially earned enough to cover her monthly car insurance bill, approximately $60, within a few weeks. After three months, the additional income began covering both her and her husband’s monthly student loan payments.
Utilizing her classroom as a research lab, Powell’s expertise in teaching sight-reading to young children filled a specific niche on the platform. She intensifies her efforts on this side venture during the summer, allowing for a more flexible schedule during the school year.
Getting started doesn’t require any upfront costs, Powell emphasizes. Teachers Pay Teachers offers both free and paid tiers for sellers. “Basic sellers” retain 55% of their sales, while “premium sellers” opt for a $59.95 annual subscription to keep 80% of their sales.
Powell and her husband Jerome, a full-time computer engineer, both subscribe to the premium tier. Jerome manages his own Teachers Pay Teachers store called Editable Activities, which brought in an additional $51,800 last year. Powell credits his search engine optimization expertise for aiding the establishment of her store.
In the following discussion, Powell shares insights into the essentials for launching a worksheet side hustle, delves into the factors contributing to her side hustle’s success, and reflects on how her newfound confidence as a first-time entrepreneur has contributed to personal growth.
CNBC Make It: Do you think your side hustle is replicable?
Powell: Yeah, I think so — especially if you have a combination of passion and knowing the [education] market. You need those things to identify gaps [in learning] and build your intuition.
What do you mean by that? How do you build that intuition?
Being part of a specific market is one aspect, but truly understanding it is another. Thorough research is crucial; you need to delve into the market, identify its consumers, and conduct interviews to gain an innate and intimate knowledge. The goal is to comprehend the market so profoundly that you can discern its gaps and shortcomings.
By marrying these elements – a deep understanding, consumer insights, and meticulous research – you move beyond creating something that might, could, or should work. Instead, you create with confidence, knowing that your product or venture will undoubtedly succeed.
You started a business without any entrepreneurial experience. Did running a successful side hustle help you build confidence in or out of the classroom?
My educational background is in education; therefore, I never possessed a business or sales mindset. It simply wasn’t my domain. Jerome played a pivotal role in enlightening me about SEO, marketing, and how to empathize with consumers. This dynamic has created a remarkable balance in our approach.
However, I had to confront the mindset of “What do I know about business? It’s not my field.” Over time, I’ve observed my confidence manifesting in my proficiency and eagerness to guide others. This is evident in my role as a mentor, having assisted eight friends and colleagues in establishing their own stores on Teachers Pay Teachers. I never charge them, deriving immense satisfaction when those I mentor achieve their own success.
A lot of people have side gigs, but few bring in six figures per year. What do you think is the key to your success?
My husband consistently emphasized, “The riches are found in niches.” The key is to identify a specific area where you can excel and focus your efforts on it.
In my case, it wasn’t merely about teaching kids sight words; it involved contemplating hands-on activities and utilizing easily accessible tools to captivate them. I meticulously delved into ideas, progressively narrowing them down to pinpoint the most specific and valuable concepts, until I struck gold at the very core.
It’s not just about finding a niche; it’s about discovering your niche within a niche, where your expertise and unique approach can shine the brightest.
Source: cnbc.com