Started With Rs 4,000, This 28YO Now Earns Over Rs 90 Lakh A Year Through His Side Hustle

By spending just $50 a few years ago, a 28-year-old US millennial now earns a whopping $113,550 (approximately Rs 93 lakh) a year. And that too through his side hustle.

How It All Began

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It was about six years ago, in 2017, when 22-year-old Carter Osborne decided to monetize his strongest skill: writing, since he needed extra cash for graduate school tuition. But it was then that he realised that he could get paid to advise high school seniors on their college admissions essays too. He himself had a consultant review his undergraduate personal statement before getting into Stanford University in 2013.

Next, he went back to that mentor for help getting the side hustle off the ground. Because the demand for admissions consultants was on the rise, the mentor referred three of her clients to him.

Osborne had planned to shutter the side hustle after he finished his master¡¯s degree in public administration two years later, but at that point, he realised it fulfilled him to help kids with their essays. Plus, it was lucrative. By 2021, Osborne had "snowballed" 40 clients and made $113,550, as per the CNBC report.

He scaled down the operation to 33 clients last year, primarily because the expectations of his full-time job as a public relations account director were increasing. He still made $77,120, and Osborne says the average of the last two years is slightly more than he makes at his full-time job.

Also Read: More Millennials & Gen Z Are Taking Second Jobs Due To High Cost Of Living

Starting With Just $50

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The side hustle costs almost nothing to start, he says. Osborne, who works with clients remotely, estimates he spent $50 (approximately Rs 4,000) to create Zoom and Squarespace accounts. The extra cash is helpful, Osborne says. He recently used his padded savings to buy a house with his girlfriend in Seattle, Washington.

The side hustle isn¡¯t totally cost-free, though. October through December, when application deadlines loom over high school seniors¡¯ heads, Osborne works a combined 70 hours per week between his two jobs.

"There¡¯s just no getting around it. When we get down to deadlines, you¡¯ve got to push," Osborne, 28, said, adding, "I often say to my friends, ¡®Hey, I will see you in January.¡¯"

Also Read: Millionaire Shares 5 Habits That He Copied From The Rich

"Anyone Can Replicate It"

When asked if he thinks his side hustle is replicable, Osborne said, " I think it¡¯s absolutely replicable for anyone who wants to spend some time learning how to break down the college essay writing process and engage in it." But you need a couple of things to get started: You need a good mentor¡ªsomeone who¡¯s been in the field and knows how all this works. It could be asking a private consultant like me or school counsellors who are trained in this.

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Being on the admissions and counselling side is a different game than applying yourself. It takes knowledge of the specific ways admissions readers will approach these essays and how schools look for things today versus 10 years ago. The admissions process does seem to be constantly changing.

How He Helps Students While Maintaining An Ethical Line

When asked, "How do you help students improve their essays without making it yours?", he replied that there¡¯s an ethical line.

"My first meeting with students is an hour to 90-minute interview where we brainstorm as many ideas as possible. I record their answers, but just act as a sounding board and ask them questions to help them think critically about how their life experiences could fit into a personal statement. When people start writing text for students or suggesting new content, that¡¯s where you could get into hairy territory. The initial rough drafts are never great, and I can¡¯t write their essays for them. If I need them to dig deeper into an idea, I only pull notes and make suggestions based on things that they¡¯ve told me. I¡¯m not going to create a brand new thought on the page here without running it by them. And it¡¯s certainly going to be woven from things they¡¯ve already told me."

Also Read: This Company Is Paying Rs 15 Lakh Monthly Stipend To Interns

What About Work Life Balance?

As far as setting boundaries to maintain a work-life balance during the height of admissions season is concerned, he says he doesn¡¯t maintain a good work-life balance in those two months. In 2021, my busiest year, I never took a day off, and started to feel burnt out. My biggest symptom was I started to lose focus. I¡¯d log onto the full-time job in the morning, and within 30 minutes, I¡¯d feel distracted. I was a little more irritable, and forgetting things more easily. Friends would reach out, and I¡¯d completely miss their texts.

"But this year, I made an adjustment: I do my full-time job during the day, take a half-hour break, then start three meetings in a row, which takes me until about 9:30 p.m. It sounds counterintuitive, but the reason I do it is to keep my weekends open and give myself two days off, something I never used to do. Now, I can go on short trips with my girlfriend, visit family or just take a genuine break and recharge", he said.

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