How to Earn More Than an Average Income (+10k/month) - Become Financially Independent
Anyone can become financially independent and successful with the right mindset. To have the right mindset is utterly important, since all is created from the mind and the way we view things and think about things. To own a certain amount of money is only the end product of what the ultimate goal should be: which is to be of value. The more value one can give, the more valuable their services are and therefore the amount their services are worth increases.
What's valuable is different for every person, since every persons' interest and view of value differs. The question is: "what are you capable of giving that is of value that can help other people?" In other words: what are you good at or what can you serve, which could be utilized as a service to others? Is there something that you can provide, which in turn can grant you financial gains?
If you want to be financially successful and independent, it's important to take a closer look at what you are naturally good at doing and definitely just as important, what you love doing. It's essential to only make your business about something that you are passionate about. In the end, you want yourself to be assured to be able to maintain your business. This is only possible when you are passionate about what it is that you do.
Right now we are solely talking about passion in regards to starting your own business. If you know the main concept of your business, then we can take a further look at how much money and what other facets are needed. Every person is good at something, has a skill and love for a passion, which they can utilize to turn this into something which they can financially profit from.
For some, this particular skill and passion is very obvious for the person themselves. Therefore, it might be easier for these people to take the next steps in creating their business and become successful. For the ones who are not so sure about what they should do, think about what other people have told you before that you are good at and if there are any "sub professions" that fall under that job.
For example: someone told you before that you should do something in retail, because you are a social and talkative person and so you would be great at being a sales person. Yet, this never said anything to you, so you forgot about it. However, now that you are thinking about that same past situation and this particular question, you do find that you actually would be a great sales person, but not in the same way others have presented this to you.
You realize that you would actually do great at doing sales independently and commission wise, rather than doing a nine to five job in a store. Both are in the sales department, yet they are both very different routine and potentially money wise. This is only one example, of course there are many other job situations that can relate to this, which would imply the same concept.
It's also of course a possibility to apply as an employee at a company first, before starting your own company. There are benefits to this, because you then have the chance to learn more about a certain skill, without being at risk of failure of your business collapsing. In this case, the business manager takes all the responsibility in case something goes wrong.
If you have no experience at all at the service you want to provide, it's recommended in most cases to apply at a company first, to gain experience and professional knowledge. It also depends on what service you want to provide, to know whether it's better or even possible to start independent immediately or first gain experience somewhere else.
Another way to find something that you love doing to become financially independent, is to think about any skill that you are interested in that you are willing to strenghten, by the use of any (online) courses or help from others. This doesn't necessarily have to cost money, just look for a way to learn a skill via particular resources.
Now that you know and have chosen what you want your business to be about and what kind of services you want to provide, it's time to pay attention to how you will realize this idea. There are different ways on how to be financially independent.
- You can be independent and work at a location that is owned by someone else, where you give off a percentage of your earnings to the owner of the business.
- You can be independent and rent/buy a location and work by yourself. In this case you might be able to keep more financial earnings for yourself in the long run, but you might be forced to invest more money into your business.
- The last option would be that you don't need a location at all to perform your practices and that you are working from home. In most cases this would be the most beneficial choice financially wise.
Working independently at someone elses place is easier financially speaking, if you are on a low budget. The second option would imply that you already have money aside or that at least you are able to loan money from the bank. The third option would be a nice fit if it applies to your personal situation, since this option isn't possible for everyone. Once you know what option fits your situation, you are able to start your business.
What makes a business earn good money is not only good promotion, it's also consistency and taking care in all forms of your business. Your business is like your child and in a manner, it should be treated that way. Just like a child, a business needs consistency, care and precize attention, otherwise it dies.
You want everything to be in order with your accountant before you officially start up your business. You should also have planned out your promotion before you officially start working. Make sure that the overall concept of your business is clear for yourself and the customers, to avoid any failures and misconceptions in advance.
How you can earn more than $10 000 or €10 000/month depends on your personal situation. The income of someone who works independently is often unpredictable and differs. Depending on what kind of business you own, a monthly income can range from $/€2000 - $/€20 000, sometimes less and in some cases even more.
If you want to earn $/€10 000/month or more, there are some strategies and things to think about that can grant you more financial success and freedom:
- Working extra hours. Many very successful people work extra hours.
- Providing "extra" services for extra money. Think about things that don't include your main services, but it's an extra that you are skilled to do to provide for a certain extra amount of money.
- Hiring people who work under your name and conditions. These people are able to profit off of your job's location and customers and in turn must give a percentage or a certain amount of their income to you.
- Organizing workshops, classes or seminars to teach other people how to provide the services that you present. This is rather something do to in the future when your business has been going on succesfully for a few months.
- Have multiple resources of income. Instead of only relying on your main job, look for other resources of income. It's always smart to learn a new skill if interested, while working your job. That way, you can use that new skill in the future as a side job to perform in your spare time or to use as an extra in the weekends. Investing in the stock market is another great way to upgrade your income, however you do need some knowledge on how this works.
- Provide unique services that only you provide within your environment and be the best business at your service.
If you really want to be successful and earn more than $/€10 000/month, then the last tip must not be underrated. If you are determined to become the best at what you do, then it's equivalent that over time you will earn just as much as the energy you put in.