Billionaire entrepreneur Mark Cuban, known for his success in technology and media, recently shared his advice for anyone looking to start a lucrative side hustle. According to Cuban in a CNBC interview, anyone can earn up to six figures by following three simple steps that involve creative use of artificial intelligence (AI). If Cuban were to relive his teenage years, he would focus on AI rather than traditional jobs like mowing lawns or flipping burgers. This is how he says you can do it.

Step 1: Master writing AI prompts

The first step Cuban highlights is mastering the ability to write prompts for AI tools like ChatGPT or Gemini. These AI language models can produce anything from written content to programming solutions, but they require clear and compelling prompts to deliver optimal results. Writing concise and helpful prompts is like learning a new language, Cuban notes, and companies are willing to pay big for this skill. In today’s world, knowing how to harness the power of AI can help you stand out from the competition.

Step 2: Teach others your skills

Once you’ve gained expertise in AI prompt writing, Cuban suggests teaching your skills to others, especially students. AI can be invaluable for completing assignments, essays, and other school-related projects. This not only helps others but also strengthens your skills in solving various problems. According to Cuban, this step spreads knowledge and increases your understanding, leading to even more opportunities.

Step 3: Offer your services to companies

As a final step, Cuban recommends using your fast writing skills to target small and medium-sized businesses. Many companies are not yet aware of the full possibilities of AI, which represents an opportunity for you to intervene and offer solutions. Whether it’s improving their marketing strategies, customer service, or optimizing operations, your AI expertise can help businesses succeed. This side hustle could turn into a full-fledged six-figure business as you get more clients.

The potential of AI prompt engineering

According to a report from LendingTree, over half of Generation Z in the US already has a side hustle. One of the most profitable opportunities in this area is AI prompt engineering – creating effective prompts to generate specific responses from AI systems. Job platform ZipRecruiter shows that AI tutors earn around $30,000 annually, while AI prompt engineers can earn up to $129,500 per year.

This trend aligns with the World Economic Forum’s 2023 Future of Jobs Report, which predicts that 75 percent of companies will adopt AI technologies within the next five years. This widespread adoption is expected to revolutionize the industry and make fast AI writing a valuable skill.

No degree required, just practical skills

One of the most attractive aspects of AI prompt engineering is that it doesn’t require a college degree. Instead, practical experience and certifications are crucial. Online courses, such as those offered by IBM or Vanderbilt University through platforms like Coursera, can get you started in just a few weeks. This represents a significant opportunity for those looking to enter the technology field without a traditional educational background.

Cuba’s entrepreneurial journey

Mark Cuban’s current side hustle advice is based on his own entrepreneurial journey. From selling trash bags as a 12-year-old to selling his first company, MicroSolutions, for $6 million in 1990, Cuban’s success didn’t happen overnight. He then co-founded Broadcast.com, an audio streaming service that was sold to Yahoo for $5.7 billion, catapulting him to billionaire status.

Now Cuban devotes much of his time to his newest venture, Cost Plus Drugs, an online pharmacy that lowers the cost of prescription drugs. His focus on entrepreneurship has never wavered and he encourages others to take the plunge – albeit with careful preparation.

Cuba’s final advice for aspiring entrepreneurs

For those inspired to follow in Cuba’s footsteps, he offers some important advice. “Save your money first. Don’t just quit (your job) unless you know what you’re doing,” Cuban said in a recent interview. He emphasizes the importance of saving at least six months of living expenses before starting a new business.

Additionally, Cuban emphasizes the importance of understanding the industry, improving sales skills, and fully committing to your business idea. Passion and commitment are essential, but so is the ability to adapt and stay informed about market trends.