I Quit My $35K Job To Grow My Side Hustle - Now It Brings In $141 Million

Summary

Tori Gerbig, founder and CEO of Pink Lily, shares her inspiring journey from a struggling insurance seller to a successful e-commerce entrepreneur. With a leap of faith in 2014, she and her husband left their corporate jobs to focus on their online store, which grew from $4.1 million in revenue to over $141 million in 2021. The script highlights the couple's teamwork, work-life balance, and the importance of breaking gender stereotypes, emphasizing the empowerment of women in leadership roles.

Takeaways

• 💼 Tori Gerbig, the founder and CEO of Pink Lily, left her corporate job to focus on her e-commerce business, which was more profitable than her salary.
• 💰 She started her business by selling various items on eBay to supplement her income, which helped her and her husband manage their student loans and other debts.
• 📈 The business took off after launching a Facebook group, which significantly increased sales and motivated Tori to pursue it full-time.
• 🌙 Tori worked tirelessly, often staying up until 1-2 AM to manage the business, while also balancing her corporate job and family life.
• 🚀 The decision to launch a website was pivotal, allowing the business to reach a larger audience and capture sales beyond the limitations of the Facebook group.
• 🎉 The business exceeded its initial goal, hitting over $4 million in revenue in its first year, which was a phenomenal achievement for Tori and her husband.
• 👫 Tori and her husband both left their corporate jobs to focus on the business, relying on an emergency fund to support them during the early stages.
• 🏢 Despite the challenges of working with a spouse, Tori and her husband have a complementary working relationship that has contributed to their success.
• 🌐 The business has grown exponentially, from $4.1 million in revenue in 2014 to over $141 million in 2021, demonstrating the power of online sales.
• 🏠 While Tori enjoys having a retail store, the focus has primarily been on online growth due to its rapid expansion.
• 🌟 Tori's journey from a corporate job to a successful CEO at a young age is an inspiring story, showing that women can be successful leaders in any industry.

Q & A

Who is the speaker in the video transcript?

The speaker is Tori Gerbig, the founder and CEO of Pink Lily.

What was Tori Gerbig's initial annual salary from her corporate job?

Tori Gerbig's initial annual salary from her corporate job was under $40,000.

What significant financial milestone did Pink Lily achieve in the last year mentioned in the transcript?

In the last year mentioned, Pink Lily achieved over $141 million in revenue.

What was Tori Gerbig's first job after graduating from college during the recession?

Tori Gerbig's first job after graduating from college during the recession was selling insurance.

What motivated Tori and her husband to start selling on eBay?

Tori and her husband started selling on eBay to help supplement their income due to their financial struggles with student loans, a mortgage, and car loans.

What types of items did Tori and her husband initially sell on eBay?

They initially sold a variety of items on eBay, including golf clubs and Halloween masks, focusing on items that were going viral on the internet and could be sold at retail price.

How did Tori manage her time between her corporate job and her growing eBay business?

Tori managed her time by working her corporate job during the day, then taking care of her son, and spending late nights posting products, invoicing, and shipping until around 1 to 2 o'clock in the morning.

What was the initial goal for Pink Lily's e-commerce store when it was launched?

The initial goal for Pink Lily's e-commerce store was to bring in over $100,000 in sales in one month.

How did Tori and her husband manage the risk of leaving their corporate jobs to focus on Pink Lily?

They managed the risk by having an emergency fund of around $10,000, which they believed could sustain them for a couple of months if things went wrong.

What was the growth trajectory of Pink Lily's revenue from its first year to 2021?

Pink Lily's revenue grew from over $4 million in its first year to over $141 million in 2021.

What is Tori Gerbig's perspective on being a female CEO and her advice to her daughters?

Tori Gerbig believes in the importance of showing her daughters that being a CEO or a leader in any industry does not have to be a male role and that females can be very successful in these positions.