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An income is a payment given to a person for a service rendered. This payment is usually in cash. This income could be daily, weekly or monthly. Income ranges in size, as some receive more while others receive less. It’s just how the world’s economy works. While others are living okay some are barely living as a result of a low income. This article is for those who want to be in the big income status quo.
Over the years I have been a low-income earner. This doesn’t mean that my income hasn’t grown, which it has. However, it means I am still not OK with it, therefore, I am trying to grow it every day. Hence, I have two strategies I want to share with you, that can help you go from a low income to big income.
This post will show you steps to follow and see a result.
Two Effective Strategies that can grow your Income
Not to sound too confident, but no one will disagree that, these two strategies work. Why are they infective? Because they give room for learning and growth. It has worked for me and many others and is about time you make it work for you. These strategies are:
1. Career Part Income Growth Strategy
The first and foremost step to growing your income through a career is making a career choice you love. Because you need passion to fuel this journey.
Secondly, don’t think less of the choice you make. It is never too late to make a choice and stick to it. The world is changing and every career seems to have a market designed for it. Thanks to the online world.
You might choose a career that seems to be on the unsuccessful side. The advantage to it is you can make it become big.
However, this post is going to show you exactly how to make it successful and subsequently grow your income.
Design a Career Blueprint
1. Learn and become an expert: Do not depend solely on your college degree because new methods and resources on solving a problem keeps coming out. Attend workshops and seminars. Register for courses and have more related certificates. There are lots of platforms online offering free courses. Some of the best are:
- Alison has a lot of free courses I am very sure of and the best to me.
- Class central
Some have free courses while some only have paid courses.
2. Gain work experience: This is where the money comes in and how does it work? It works with you working and gaining more experience thereby increasing your value.
One of the best ways of getting experience in a career even before you are employable is through an internship. Immediately after high school, I got a job as a class assistant in a school. I am still an educationist my value has increased and so has my pay.
I know of a lady who interned in an organization for a long while and when she got a new job it was big with a very high income compared to anyone on a first real paid job.
3. Stick to your career: No career prostituting, please permit me to say this. Yes, you are intelligent and can function everywhere, I agree. However, the aim here is growing your income through your career part. Hence, sticking to one part makes you specialize and become an expert in that area. This increases your value. I am not saying one shouldn’t go outside the box but should be in the box most of the time.
4. Be Computer Learnt: You don’t have to learn programming or the hard things about computers. Therefore, learn the basics, like, micro soft word and PowerPoint. Learn how to use applications like Google docs and calendar. Know how to surf the internet and find valuable materials. Learn how to market online because it will be a perfect addition to your skills.
5. Add everything to your Curriculum Vitae: Add everything you do in your CV, this includes everything out of your career part. Be it charity work, community service and volunteering. Let it reflect. Don’t ever take any little skill you learnt for granted or less important. You had a two hours seminar on how to be productive? Let it reflect. How about the one-day seminar on productivity? Let it be seen. All these little things increase your value which can be liquidated to income growth.
6. Nail every Interview you go for: So you have the skills, the experience, a perfect Cv or resume and you got a call. What are you going to do? Yes of cause go for the interview. But you see, it’s not that simple because this is a moment of truth. You have to nail it or end up looking like a liar with a good resume and can’t defend it.
Learn how to get called back by every employer you got interviewed by getting “your dream job in a handshake” HERE. This is a detailed report on what makes you employable as your resume is not good enough. Limited copies available grab yours.
2. Business Income Growth Strategy
There are a lot of ways to grow your income through business. Owning a business seems to be the trend now and everyone only talks about the good side and no one mentions the pitfall.
Hence, This is where I help you avoid the pitfalls because every business big or small has its issues.
Whether your business, is full time or part-time, small, medium or large scale, part-time hustle or full-time hustle? Take it very seriously, this is your number one step to being a successful business owner.
A. The Dos and Don’ts
Therefore, before you invest your income or savings into starting a business you should do the following:
- Do a survey on everything required to start the business you want to venture into. Know about some hidden charges and cost you might incur along the way. Please don’t go into any business blindly just because you thing Mr A is doing well at it.
- Research and know the performance of this business on the market. Especially reception of the goods or services in the business. For instance, you want to start selling wristwatches. It’s important you know the level at which they are demanded and consumed. Having in mind you are trying to grow your income, therefore, you can’t afford to invest in a product with low demand.
- Learn how the marketing of the business work. Not every business has the same method of marketing. You might want to consider taking some free courses on marketing at this point just saying though. In the end, your business needs to attract customers and knowing how to market it makes it easier.
- Be it goods or services, hardware or software, digital or analogue products that you are selling. Leverage every market to get buyers. Hence, advertise your products on social media. I am in 20 Facebook market groups. You need to see the kinds of things people advertise and guess what? They get buyers for their products.
- Have a business plan, not necessarily the 10 pages formal type for a loan application. Just a plan to help you navigate your business. Include things like your strategies to grow the business, profit goal after a time frame etc.
B. Educate yourself and Learn
I am a product of constant learning. I educate myself and I pay to get educated. For instance, I paid to learn how to build this website from scratch. I paid to learn eCommerce such as drop shipping and mini importation. I paid to learn, how to extract silver from raw materials. In fact, I don’t want to mention all that I have paid to learn because You might think I am crazy to want to learn all of these things. Well, if you are not ok with your current income then you will try every small business to see how it goes. I failed in some which helped me do great on some.
I love to read books, I am constantly trying to grow my income because of the motivations I get from books I’ve read. Books on how people made it from zeros to figures and how they did it. HERE is a perfect book that could motivate you.
C. You can’t do it alone
I know you want to be that Soloprenuer, who conquers the world alone. I assure you, failure awaits you. Get help when needed, don’t be a jack of all trade for your business. When you need legal advice get it when you need help with your account get it. Depending on your startup, these services might not be full-time, however, hire for the period of time needed.
How do I get the Resources to Start my Business?
With everything listed above in check, you are set to increase your income through your business.
However, a common problem often faced by upcoming entrepreneurs/business owners is how to get capitals to start a business. This is not an easy one however, there are ways to do that depending on the scale at which you want to start your business. Read THIS it will be very helpful.
Some healthy habits to adopt for personal finance which can help enhance your income growth.
Now that you know you how to grow your income, I have some habits that could help you manage your little money while on the growth process. These habits are important because they can help you manage your income when it grows also. Hence, you don’t find yourself from something to zero again.
- Plan your expenditures.
- Make a budget
- Live according to your income doing this will help you stay out of debts.
I recommend reading :
Can I Merge Career with Business?
There is no one direct or correct answer to this question. Why? Because career parts and business choices differ.
However, it is possible to merge the two. But you have to consider two factors, your working hours and the kind of business you want to start. Every business I start must consume less time and let me work with my own free time that’s why I call it “side hustle” . For instance, I started blogging as a side hustle because it is very flexible, time-wise. It could be time-consuming no doubt, however, it’s not a job I have to report to by 8 am.
Hence, If you want to start a business and you have a full-time job and you want to keep your job then your business cannot interfere with work.
Your career can be your business. I am a teacher professionally if aside my full-time job I give services for private tutoring. That can be classified as a business. I’ve seen people retire and start a business in line with their careers. You don’t have to wait for retirement.
Drop a comment if you have a question and share if you found this useful.