How This 27-Year-Old Turned Street Interviews Into a Multi-Dollar Business and Made It To Forbes' 30 Under 30

Last year, Hannah Williams achieved several significant milestones. At 27, she made it to Forbes' 30 Under 30 list. During the first full year of operating her business, Salary Transparent Street, she generated a little over $1 million in revenue, per CNBC Make It. She also married her husband and business partner, James Daniels.

Hannah Williams turned street interviews into a business

The journey began when Williams posted TikTok videos in early 2022, asking strangers about their income, which quickly went viral. Realizing the potential, she decided to turn it into a business through partnerships with brands. Within a few months, both Williams and Daniels left their well-paying 9-to-5 jobs to focus on their business full-time.

Williams expressed her surprise at reaching the $1 million mark, acknowledging that it was easier than she initially thought. Looking ahead to 2024, she aims to achieve a revenue of $2 million. The majority of their income, 97%, comes from partnerships with big brands such as Indeed, Capital One, and The Knot, based on documents reviewed by CNBC Make It. Additionally, around $30,000 came from creator funds on platforms like YouTube, TikTok, Instagram, and Facebook.

Importance of setting salaries

Despite reaching the milestone of a $1 million business revenue, Hannah Williams emphasizes that her financial situation hasn't dramatically improved. She now earns slightly more than when she worked as a senior data analyst, earning $115,000 annually. In 2022, the first year of running Salary Transparent Street, she paid herself around $150,000. By early 2023, she increased her salary to $200,000, but her accounting team advised her to scale back to support business growth.

As a founder, Williams acknowledges making personal sacrifices to ensure the long-term success of her business. She has maintained a careful budget, and despite her million-dollar business, she hasn't changed her lifestyle. Her current annual salary is $125,000, and her husband, James Daniels, takes a $65,000 salary while working part-time as a videographer.

Williams emphasizes the importance of setting salaries based on market rates rather than personal relationships. Although she'd like to pay Daniels his previous salary of $112,000, she's mindful of market standards.

Despite a $37,000 decrease in their combined income over two years, Williams considers their financial situation comfortable. Disability payments from the military and strategic budgeting contribute to their financial stability. Williams has expanded her business team with part-time workers and contractors, including an accountant, lawyer, social media manager, website development team, and content creators.

Lessons from being a boss

Reflecting on her journey as a boss, Williams shares the valuable lesson of hiring slowly and being quick to let go of employees when necessary. She emphasizes the importance of assessing candidates based on their skills and contributions to the team rather than personal relationships.

Williams and Daniels, as co-founders and spouses, maintain a successful working relationship through consistent communication, transparency, and respect for each other's roles. Looking ahead, Williams aims to grow Salary Transparent Street into a platform addressing financial transparency on a broader scale, discussing topics like housing, insurance, and everyday expenses.

She believes in taking transparency and equity discussions beyond social media, testifying in front of the D.C. council to support the Pay Range Act. Williams hopes to use insights from people's stories to influence legislation, ensuring that the information collected by Salary Transparent Street contributes to meaningful protections and policies for workers in the workplace.