« Side Hustle School

#830 - Bilingual Insurance Agent Translates Problem-Solving into Profits

2019-04-10

After working for free doing odd jobs for friends, an insurance agent with a love of Chinese culture carves out a $40,000/year side business. 

Side Hustle School features a new story EVERY DAY of someone who started a hustle without quitting their job. You’ll learn how they got the idea, how they overcame challenges along the way, and what the results are.  Share: #SideHustleSchoolShow notes: SideHustleSchool.comTwitter: @chrisguillebeau

Learn more about your ad choices. Visit podcastchoices.com/adchoices

This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
hello, and welcome going to show you something important today in the form of a story. Of course, Mister is about a bilingual insurance agent who earns after forty thousand dollars a year on the side using her language skills. But the lesson I'll tell ya front what it is lesson is that in a lot of fields, industries or careers, the people who are most successful have found a way to go deeper in that field. Industry or career, for example, and the world of translation. Most translators for higher, tend to focus on business or legal translation- maybe something in the media world, not bad, but today's case study finds a different approach which will hear about, and you can apply this perspective in a lot of different fields. Let's take social media. Consulting
what does that even mean here for a here all the time people who, like I want to be a social media consultant. I know it's a huge field. Lots of companies need help with social media, but could we make it a little bit more specific? You actually might be more successful. If you do personal training, we got a lot of fitness people out there. What people doing fitness, coaching and training of various kinds we'll just like today story, you gonna, have better odds of success if you narrow that down. So the lesson here is to look for the margins and during that illustrates that is coming right up. Here's a quick message from our sponsor really appreciate them, allowing the show to be completely free. No one likes feel stuck box them or held back, especially by your club. It's a problem, but the IBM cloud is different. It's the most open and secure public cloud for business it can manage all your apps and data anywhere across all your clouds, so it can help take on anything from rebuking flights. On the fly,
two restocking shelves on demand without getting in your way. Smart loves problems, IBM, let's put smart to work, that IBM dot com, slash flexible to learn more Just tell me is a long time. Cereal side hostler, just to name a few. She has reminded us a bit player. Salt baked goods, manage social media for nonprofits these days. She's earning extra money is a chinese translator specializing in sobbing real life problems general to China. When she was twenty, it became profession in the language while living there in going to school. People would ask her for help with lots of simple tasks: the required English these days back in the states and living in LOS Angeles. She still does some traditional translation work, including interpretation and voice over recording.
But it's her unique ability to help people solve those real life problems. That's her specialty. Her first pay job as a translator was sobbing a legal problem, a couples children were wrongfully taken from them and didn't know what to do within a short period of time. Through research making phone calls and navigating the court system, Jennifer was able to get the kids back into the parents custody. She never asked for compensation, but they were so grateful. They paid her almost eight thousand dollars feeling shocks that she could make money doing something that in the past she just done as a favor for friends, Jennifer's. Began during translation as a paid hustle. She discover that the work was fun in profitable and also helped her maintain her language skills. In a typical week of translation work, she has helped clients, negotiate with hospitals and insurers, assisted a chinese company seeking to become compliant and the U S and work with immigrant parents to find schools for their children and assist with
Work by day, Jennifer works as an insurance agent and financial planter. That background gives her the knowledge to help you who are not flown in English, negotiate their hospital bills which, by the way, enough if you are flown in English, she suggests others. Interested in doing translation, as aside also consider what they are most knowledgeable are passionate about. Four ample. Are you a multilingual college student who didn't mind a college application process? What you can assist, others to that task? Do you enjoy typing and can do it quickly if so consider transcription another Tipp Jennifer offers is prove your worth. You have to wait for someone to hire you to start a portfolio, and others was interesting. She says translating manuals like company manuals can be a lucrative field.
So go and download some company manuals and start translating. By making those samples you can say to prospective clients, look here's a translation of company excess manual. You dont have to share that you didn't get paid. The point is just to show that you have the chance to do the work by speaking of getting paid. The next step in creating your side also is to get paid, and this is the aspect that Jennifer struggle with the most like some of our other stories. In fact, she was unsure what to charge and everyone. She asked for advice, had wildly different opinions, she finally decided to reverse engineer the process, for she figured out how much you want to earn and she considered how many hours and days she was able to work per week factoring in her other job other commitments, how much vacation time she wanted. Lastly, she estimated how much higher taxes and expenses would be she entered all this data into an exasperating
which then gave her an ideal. Hourly rate of this is our base rate. She also charges a premium rate for work. It's especially difficult or time sensitive, Jennifer, heads, zero start up costs would starting this translation business her first years, profit was twenty seven thousand dollars, and the second year was nearly forty thousand dollars. When she began finding your feet, she got to thinking about how she could teach others to translate their skills into cash. So she invested a few entered alors into creating an online course that would show multilingual how to develop their own translation hustle, but she doesn't do any advertising close to eighty percent of Jennifer's translation business is from referrals. She recommends that if you want to start getting paid to translate, ask yourself wherewith someone who
It's my services be and then go there, mention it on social media and join groups where you might be able to help people for her. The best part of this project has been her ability to help others in distress she's been able to solve huge legal and health problems for others and in return, receives a whole lot of gratitude from her clients. Of course, she's not just doing it for charity. That money is real. It's allowed her to transition to part time work from our data and spend more time with her kids. Using her language, skills to solve problems has translated into real benefits, the lesson is blocked, the margins in this case of winning most regional translation work is what a large enough to thrive again. Forty five
dodgy err on the side of particularly focusing on her background in insurance and finance, which, as we know, a lot of people have huge problems with, especially if English is your second language or if you dont speak the language it all and, like I said you have people who are completely fluid native speakers, often struggle that stuff too. So it's not surprising that somebody else would have even greater problems, and I mentioned social media consulting and fitness our personal training in the introduction as two fields in which it might be more beneficial to say. Ok, where are the merchants where something else I can do within this broad industry or field here are a couple more examples
That's what I thought was recently. We often have stories featuring people who are buying something at one price and selling it for higher one. Last week I had a story of a guy who is buying and selling headlights headlights entail lights and actually creates a six figure business doing it again. He is looking for the margins not allow people up. There are focusing on that. Another example is career coaching, but this is really broad. Just like fitness. It's like social media lots. People went to going to career coaching what we have seen over time. I know this from talking with thousands of people, the ones who are successful. We have
on the show people specifically focused on recipes, people specifically focused on negotiating a salary increase or reducing your debt, or there is a guy who had lived overseas with his family lots of different countries and set up a consulting practice, helping other families prepare for moving abroad. Again, really specific look for the margins and by the way, pick one of those things to focus on the interesting thing is when you pick one of those things, you often end up getting approached over time for help with some other stuff, and at that point you can choose, you know. Am I gonna stick with just this one thing: am I going to expand that's a whole different thing pros and cons to that. But the point is we are starting pick one to focus on right. That's it for me today. Inspiration is good, but inspiration with action is better today, show notes, are at sight of school dot com, slash, eight thirty, eight three zero! If you Common question for the show. Give me a call on a hustle hotline. At number is eight hundred and forty four nine hundred four thousand eight hundred and forty four
Nine hundred and forty eight seven thousand eight hundred and fifty three thank you so much I'll be back again tomorrow. My name is Chris Calabro. This is side school. From the onward projects.
Transcript generated on 2020-04-27.