A high school dropout, 16, has revealed how he ditched university plans to start a thriving business that earns him up to $32,000 a month.
Harry Edwards, from Monbulk in south-east Melbourne, monetised his computer skills and started offering video editing services on global freelancer marketplace Fiverr.
The gig is so lucrative he’s since moved out of home, invested hundreds of dollars a week into a stock portfolio and donated $4,000 to various charities.
During the coronavirus pandemic, Harry devoted his spare time to online courses to improve his skills and build relationships with mentors.
Harry Edwards, from Monbulk in south east Melbourne, monetised his computer skills and started offering video editing services on global freelancer marketplace Fiverr
The English-born teen started his online business in January, and by March had already made $6000 a month before tax by editing videos for his loyal customers
He was running a small ecommerce business selling camera accessories when he noticed there was a market for video editing services.
‘I had actually used Fiverr many times in the past for projects where I needed skills that I didn’t have myself such as product description writing, graphic design and website speed optimisation,’ he told Daily Mail Australia.
‘I knew that I could sell on Fiverr while pursuing my hobby of video editing, which has been a passion of mine since I was 10 years old.’
Harry said potential clients find him through the Fiverr website, a global freelancing marketplace, and hire him to put together videos for them.
The English-born teen started his online business in January, and by March had already made $6000 a month before tax by editing videos for his loyal customers.
In the last month alone, he’s raked in a whopping $30,000, and his profit for the year is over $120,000.
Harry’s business has come out of the COVID-19 pandemic even stronger, as more and more businesses are making the shift to online.
‘It helped my business as I had more clients reaching out for assistance in doing so,’ he said.
‘The pandemic has pushed a lot of individuals and businesses to reinvent themselves, looking to improve their online presence and reach customers through new channels, so I believe it’s prompted a shift in people turning to platforms like Fiverr.’
Harry encouraged other young Australians to give their dreams of opening a business a go, and advised them to prioritise their spare time.
‘We have so much time. We all say to ourselves ‘I have no time’ but we also binge watch Netflix for three hours after school,’ he said.
‘Instead, what if we spent one hour on Netflix, and two hours on developing actual practical life skills.’
Harry’s business has come out of the COVID-19 pandemic even stronger, as more and more businesses are making the shift to online
In the last month alone, he’s raked in a whopping $30,000, and his profit for the entire year is over $120,000
He also urged other budding entrepreneurs to take risks and evaluate the pros and cons of launching an online business.
‘Even if it doesn’t turn out how you hoped, the experience can still provide you with invaluable life skills. Fear of failure is the biggest barrier to success,’ he said.
At just 16, Harry’s lucrative business has allowed him to lease an apartment in Melbourne’s CBD to allow him to build his brand.
‘I will be working full time focusing on Fiverr and expanding my video editing agency – something I’m looking into at the moment,’ he said.
‘One of my goals from the start was to be in a position where I can sit down in a room, and work with laser focus to build something amazing.’
Harry’s tips to other young budding entrepreneurs
Mindset – ‘Mastering your mindset is vital, having a growth mindset can help you build skills and motivation and so I encourage budding entrepreneurs to invest their time into developing their mindset through podcasts, books and Youtube videos that align with what you’re trying to achieve.
Have a plan – ‘Build a system for everything, ensure everything is organised into a plan, written down and organised into timelines, financial targets, dates etc. This not only helps with motivation, but takes away the thought of how/when to do something, it reduces stress and thinking time and streamlines your goals with efficiency.
Be a perfectionist – ‘When looking to bring in additional income on sites like Fiverr, it’s vital to evaluate how you’ll stand out from the crowd and create a consistent and memorable personal brand that competes with other sellers. Be a perfectionist in everything you do, from your communication to your delivered product- reviews are everything.
Mentors – ‘Mentors are everywhere, and they’ve been the most important aspect of my self growth. They led me into the world of business, self improvement and mental development and have been a huge driver of my financial success. My parents taught me lots about life, but not so much about business. What accelerated my growth is reaching out to others and surrounding myself with others that are on the same path with the same goals, changing my life forever.’