Having a reputable career while pursuing your dreams, which one will you go for?  In this episode of Money Talk, we invited Ms, Sherwin Tsang, ex-corporate lawyer with a head for business and flair for the creative, she hopes to educate the public on the importance of mindfulness, sustainability and wellness.  This #girlboss also shares how she manages two side businesses with a full-time job. Continue reading to check out the secrets of creating multiple streams of income to live a full-on life.

 

 

Tell us about yourself!

 

Hello, I'm Sherwin, currently working as a Business Strategist in a renowned hospitality group.  I also have two side hustles - one is Mybutterhalfhk, a bespoke online cake shop; another one is The White Labeling, which distributes eco-friendly and aesthetic yoga mats.  Prior to adventuring into the business world, I worked as a corporate lawyer.

 

 

 

What drove you to start your side hustles?

 

I started mainly to challenge myself to grow further.  I’ve always wanted to start my own thing, thinking about it - it’s been a long time in the making.  My previous job as a lawyer was quite stressful so I started to make cakes and practise yoga to relieve the stress.  Somehow, during the lockdown and COVID, I wondered - could I turn my hobbies into a side hustle? And then I gave it a go.

 

 

 

When you found your side businesses, did you face any financial difficulties?

 

I am glad that I haven’t encountered any financial difficulties as my businesses are still on a small scale.  Meanwhile, my current day job is relatively stable, which can support my day-to-day expenses.  Surprisingly, these two businesses - yoga mat and cakes - are actually quite popular, so turnover is very fast and there’s less pressure on the cash flow.  But as the businesses grow bigger, inventory management and logistics may become bigger issues that I need to address.

 

 

Having a full-time day job plus 2 side hustles, does that affect your attitude towards money?

 

Absolutely!  When it comes to operating a business, you have to breakeven and make profits after all.  Since I work in BD, I have also put that knowledge to work out my profit and loss analysis.  At this stage, I will reinvest the profits back into my own businesses so that they can grow bigger.

 

 

As a mum-to-be, how would you teach your kid about money?

 

I hope to teach my kid the concept of investment and financial management at a younger age.  My parents used to instill in me the traditional concept of saving money in a bank. Yet, in this new era, just leaving the money to sit in the bank means it will depreciate. So I hope to educate my kid on the concept of diversification, and invest in stocks.
 

(As of the date of publication, Sherwin recently welcomed their newest addition to the family - Congratulations!)

 

 

 

If you were given $10 million, how would you use it?

 

In Hong Kong, $10 million is neither too much, nor too little. I would spend half of it on buying a property, so that it can generate a stable income for my family. For the remainder, I would use it for my children's education fund or to grow my businesses.

 

 

What does "money" mean to you?

 

I am very glad that I don't have to worry about money. To me, it is an indicator. Achieving a certain goal such as buying an apartment or having a passive income already makes me feel very content with where I am in life.

 

 

Check out the money moments of Sherwin: 

 

 

Explore other money stories that may inspire you:

 

From Pilot to Full-time Investor - It's not scary to transition

 

Yogi, Dancer, and Brewery Founder- Marah Arcilla's #MoneyTalks

 

Balancing Holistic Wellness Story of Yoga Instructor Victor Chau

 

Interviewing Angelina Yao: How women invest differently from men

 

Social Media Expert Tim Talks about Money, Career and Choices

 

Two Becoming One - in Love, Health, and Finances

 

What're the Money Secrets to Creating a Famous Production House?

 

Helen’s 30 years Investing Journey from Primary school to Now

 

Generation Z investors: What Drives their Investment Decisions?

 

 

 

 

 

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