This 27-YO Made an Astounding $700K From Various Side Hustles: Here Are His Tips on Making Extra Money
Many are turning to side hustles in their efforts to combat inflation and also to simply make ends meet in this trying economic landscape. Cody Berman, a 27-year-old man talks about his journey of picking up a side gig with CNBC Make It. He reveals how he bagged his first-ever side gig during his freshman year of college when he founded a disc golf manufacturing company. After that, he started receiving freelance offers for writing during his college days.
Berman also ventured into video editing, podcasts, and tutoring. He said all these gigs would make him close to $1800 a month. He still multitasks and has various moneymaking ways like selling an online course about how to start an Etsy business, and renting out spaces on Airbnb."I am a dabbler by trade," he says. He told the outlet how his various streams of moneymaking help him amass $700,000 in 2022. There's no doubt that Berman has learned a lot and has the wisdom to share. These are some of his key pieces of advice for anyone who is looking to step into a side gig.
The skillset
He talks about how the journey of side hustles will differ for everyone. He talks about his experience where he found diving into the world of content creation really easy. He talked about how learning skills like editing really helped him get podcast editing gigs and video editing gigs very easily. Berman experimented with styles of content creation and even created a podcast of his own back in 2018.
Recognizing one's skills is extremely important. Polishing our talents and skills can help us make money through them. Berman's idea is to simply utilize whatever we have at our disposal, rather than trying to start learning something from scratch.
There's always somebody who will be willing to pay for your skills
He talked about how it's important to know where to look for your employer and where to look for demand. Turning to sites like Fiverr, Upwork, GigSalad, Thumbtack, TaskRabbit and Lessonface is a great idea when starting out. One also needs to have an idea of the average remuneration people in their respective fields are charging. For example, an interior photographer is charging around $150 to $190 per project on Fiverr.
"There’s an unlimited number of opportunities now with the internet and all these different apps," says Berman. He also urges people to look into their own network and local businesses they know to see if there's any need that they could fulfill. He says how there's an abundance of companies like landscaping companies and plumbing companies and there are other individuals who have no idea how to elevate their businesses using social media. Any student looking for a side gig could help them out for a fee.
Berman rightly points out: "There’s always someone who’s willing to pay for something."
A few important points
Technology is your friend: With businesses relying on tech more and more these days, knowing how to manage and get the correct results can help you get opportunities. So keeping up with the ever-evolving technology should also be on the top of your list.
Time management is the key to desired results: This one goes without saying as a side gig mostly requires you to fit in a new type of job in an already set work-schedule-infused lifestyle.
Approach your side hustle as you would approach a real job: Treating it like a real and full-time job is important. Chalking out a plan in which you can focus on your side hustle properly is crucial to being able to make money from it.