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Starting your own project that generates additional income is a smart way to maintain financial stability.
But as it turns out, it can also make you rich.
GOBankingRates spoke with two self-made millionaires who turned their side hustles into lucrative businesses.
Lets hear out what these self-made millionaires have to say.
Second, scale up after starting small.
Tang also noted its imperative to practice sound financial management.
Watch your spending and reinvest earnings, Tang said.
Finally, accept failure as a chance for growth.
While mistakes are unavoidable, they can also teach us important things.
Most importantly, Tang encouraged others to believe in their vision and wasnt afraid to take calculated risks.
With dedication and smart strategies, you could turn your side hustle into a thriving business, Tang said.
Success Is About Self-Discovery
Yangs company has a significant presence in both theUnited States and China.
The lesson I learned about my life: Success is all aboutself-discovery, passion and real-world experiences.
Uncovering your true self, he explained, involves digging beneath the surface to reveal who you are.
This alignment, he added, often leads to finding your passion.
When I first started my career, I was focused on achieving financial success.
However, self-discovery led me to establish Yanre Fitness.
In the early 90s, I wasnt George Yang, the founder.
I was just a curious enthusiast, fascinated by how fitness machines worked.
Surrounded by athletes, he said these massive machines seemed less daunting.
I was thehandyman, fixed treadmillsfor the National Athletes Team in Beijing.
I had no manuals, but I learned by doing.
Each tightened bolt and adjusted setting wasnt just maintenance; it was learning from the ground up.
Talking to athletes helped me understand what fitness really needed.
Its about the journey, the fire, the dreams and the countless hours of dedication.
Having a mentor or guide can be invaluable in your self-discovery journey, Yang said.
Back in the 90s, after realizing my thirst for knowledge, many athletes became my mentors.
They saw my passion and started recommending books to help bridge my gaps.
Remember, self-discovery is a journey, not a destination.
Success is a journey, not a final resting place.
He recommended beginning with small steps, like reflective journaling or trying new activities.
Seek guidance from mentors and remain open to the process.
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