Ryan Hogue spent a significant amount of time stuck in traffic in northern Virginia, which led him to think about ways to earn passive income. In 2016, while working a senior web development job and as an adjunct professor, he started a dropshipping business that evolved into a print-on-demand company. He later added online courses, coaching services, and a YouTube channel to his income streams. After three years, his various streams of income surpassed his salaries, so he quit both day jobs in 2020. Last year, Hogue made over $1,600 a day and over $11,400 per week, according to documents reviewed by CNBC Make It.
Hogue attributes his success to a simple strategy of turning his business into a game. He would aim to earn more money each day, starting with just a few sales per month equating to $4 in profit. Setting incremental goals helped him see progress and prevent him from giving up. This mindset of focusing on daily growth can be helpful for anyone looking to start a side hustle. Hogue still continues to apply this strategy to his side hustles, constantly looking for new challenges and ways to increase his earnings.
Hogue quantifies his success by tracking his net worth in an Excel spreadsheet and calculating how many Big Macs he earns per day, based on the cost of the burger in Virginia. He continues to launch new side hustles to increase his annual earnings, scaling down his involvement once they become sustainable and focusing on developing new income streams. While unconventional, his approach aligns with advice from experts to set small targets, monitor progress regularly, and understand that financial goals may take time to achieve.
Currently, Hogue is working on a new experiment involving starting print-on-demand businesses and then selling them to high-paying clients. For a fee, he will build a business that someone else can run using artificial intelligence and automation. Eleven clients have already paid for this service, and Hogue plans to adjust the pricing based on the success of these initial ventures. He continues to seek new challenges and opportunities to increase his income through various ventures.
Hogue’s dedication to continuously improving his income streams and exploring new side hustles demonstrates his commitment to financial growth. By setting small goals, monitoring progress regularly, and pivoting to new ventures once established ones are automated, he has been able to achieve significant success. His approach, although unique in measuring success in Big Macs, aligns with traditional advice to remain committed to financial goals and understand that results may take time to materialize.
