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How a Software Engineer Manages Five Thriving Side Hustles
Ritesh Verma, a 23-year-old software engineer based in Jersey City, has found a way to excel in both his full-time job at Capital One and his numerous entrepreneurial pursuits. Drawing upon his experience, he has successfully developed five side hustles that collectively generate nearly $15,000 each month.
Upon graduating college in 2023, Verma joined Capital One with a starting salary of $136,000. However, he quickly realized that his side ventures constituted a significant portion of his income, prompting him to develop a system that allows him to manage both his job and multiple projects efficiently.
The Genesis of His Side Hustles
Verma’s entrepreneurial journey began in late 2019 when a friend requested his assistance in developing a purchasing bot for the sneaker resale market. This request sparked an interest in creating software agents. Despite his initial unfamiliarity with the concept, Verma dedicated over six months to learning how to build software that automates various tasks.
In 2022, he uploaded a YouTube tutorial outlining the process of creating a basic bot, which unexpectedly attracted 200,000 views. Following this, a viewer commissioned Verma to create a purchasing agent tailored for high-end golf clubs, leading to a lucrative side business. As he honed his skills, he expanded his client base to include a variety of niche markets, creating bots for everything from fashion items to baby accessories.
Expanding the Portfolio
Aiming to diversify beyond purchasing bots, Verma also developed tools like a scheduling bot designed to assist service workers in securing competitive shifts. His innovative approach to marketing his services included leveraging social media platforms such as Reddit, where he initially sought help but instead found prospective clients.
Verma crafted a Reddit post sharing his struggles with shift work, which garnered sympathetic responses. By reaching out to interested commenters, he managed to acquire numerous clients, ultimately generating approximately $9,000 monthly from this initiative. Additionally, he made use of AI assistants to further automate his client outreach, demonstrating his commitment to efficiency and scalability.
Diverse Income Streams
Verma’s YouTube channel plays a dual role as both a marketing tool and a source of income, generating ad revenue alongside sponsorships that in one month alone amounted to $1,400. Furthermore, he launched a six-week mentorship program, providing coding instruction to aspiring developers for $3,000 monthly, with typically two to three participants in each session.
In 2024, he took his ventures a step further by launching two SaaS products. One is designed for Instagram outreach, contributing an additional $900 monthly. While one of these products is still in the early stages without turning a profit, he remains optimistic about its future potential.
Time Management and Personal Balance
To manage his workload effectively, Verma emphasizes the importance of automation. He commits about 20 hours to develop a new project; afterward, the maintenance often requires just two hours a week. His work schedule is structured around his hybrid position at Capital One, which necessitates two office days per week. On off days, he dedicates several hours to focus on his entrepreneurial endeavors, reinforcing a disciplined yet flexible work ethic.
Despite his busy schedule, Verma recognizes the importance of self-care and has made leisure a priority. He ensures regular travel every quarter with friends, having spent significant time abroad in 2024 to recharge and gain fresh perspectives. This balance is crucial for maintaining motivation and enthusiasm for his work.
Future Aspirations
Although Verma enjoys his side hustles, he remains committed to his full-time position at Capital One for now. He has set a financial goal: not to leave until he earns three times his base salary through his side businesses. This strategic approach not only secures his immediate financial stability but also lays the groundwork for future transitions.
Verma’s journey serves as an illustration of the evolving landscape of work and entrepreneurship, showcasing how a structured yet innovative approach to side hustles can lead to significant financial success while allowing for a fulfilling personal life.
Read more about this story on Business Insider.
Source
finance.yahoo.com