Side hustles can be a lucrative way to boost your existing income from a full-time or hourly position. They can also be a financial safety net for students or those in need of part-time work, offering the benefit of flexible hours.
Here’s the top piece of advice when it comes to side hustles from a 25-year-old who launched 23 different side ventures before launching his own company.
What Happened: Many people who have launched careers through side hustles are willing to share advice with anyone looking to enter the field or make a career out of the booming business.
Starting at the age of 13, Steven Schwartz has experimented with side hustles and now has a platform created for entrepreneurs.
Schwartz estimates he launched over 23 side hustles, according to an interview with CNBC’s “Make It.”
Several of the businesses were co-founded with his friend Cameron Zoub. Schwartz said the businesses he undertook with Zoub managed to generate hundreds of dollars daily on multiple instances.
Among the businesses created by Schwartz and Zoub included a sneaker bot that could buy limited-edition sneakers from drops quicker than real people clicking the buy button.
The duo also launched an IT agency that built websites and apps for customers and brought in $100,000 per month in revenue at its peak.
In March 2021, the duo launched marketplace Whop, with co-founder Jack Sharkey. Whop is a tech marketplace that Schwartz described as “Etsy for software products.” The site brings in around $354,000 per month, according to the report.
“The beauty of Whop is if we have an idea, we can just go on Whop and try it out,” Schwartz said. “It’s a really amazing way to use your own product.”
Related Link: 17 Ideas To Start A Successful Side Hustle In 2023
Advice for Entrepreneurs: After years of building and running side hustle businesses, Schwartz has advice for anyone looking to launch a sustainable business model.
“You want to really orient yourself around a real problem that needs to be solved,” Schwartz said. “People get hung up around building software, and they make something that no one’s actually going to use.”
Whop allows software and app developers a marketplace to sell their products, something Schwartz said solved a problem.
“If no one’s using it, you get really demotivated.”
Schwartz said Whop helped solve a problem in being seen as a more trustworthy option and a vetting process for software sales. The business also solved a problem Schwartz had with his past IT business, as Whop is more personally fulfilling to him. By having Whop, he can keep building his own software and apps with his own marketplace to sell them.
Entrepreneur and investor Mark Cuban shares a similar outlook on creating a business, according to CNBC.
“There comes a point in time where you got to figure out the answers yourself,” Cuban said in a previous interview. “Learning how to solve problems, learning how to find answers, being curious enough to find solutions on your own is where successful businesses come from.”
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This story is part of a new series of features on the subject of success, Benzinga Inspire.
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