A couple of ways to do this.
1- use the 'Text & Image' component that I believe is an out of the box component with CQ. If you are using CQ5.4 go into design mode and then edit the parsys to look in the 'general' drop down list for the text and image component if it isn't already within the side kick.
2 - Use column control which will then enable you to drap over the seperate text and image components.
3 - Ask your development team to create you a image and text panel container which you can choose your image and then drag in what ever component you want to appear next to the image.
The default behavior of "Text & Image" component is to place the text on the right hand side of the image. However, if the width of the image is too much (almost equal to the container paragraph), the text will be placed below the image.