You Job & Salary
Taking control of your professional life if super important for any individual or family reading this article. You have to make sure that you aren’t just treading water, but instead that you are making strides in an upward direction. If you aren’t moving up at your current job, then I’d suggest you think about ways to move out to another job that pays more, has better retirement offerings, or better benefits for you and your family.
Your Salary will provide a Solid Base to Build on
Having the incentive to be more wealthy, to increase your income, or to become more rich is not an easy task for most people. What many people find, is that it will take longer than you anticipate to get ahead and achieve all of the success that you are striving for. When you begin the initiative of investing into yourself and investing into the idea of building more wealth, you will find that it takes longer than you expect. The reasons for this are numerous but often your find the causes are lack of momentum or paralysis, missteps or errors in your efforts, things just simply take longer to accomplish than you anticipated.
If you Work, and get A Salary, Perfect your Skills
Don’t take your career for granted, especially as you work on growing your wealth. Put 100% of effort into your career and improving your skill in your career. This will add the most value to your ability to earn more salary in future years from your employer. Even if your long term goal is to become totally reliant on your small business for your wealth you still need to improve yourself along the way.
You should try to improve your skills and give everything you have to your employer. At the same time, you will be growing knowledge base, that can most probably translate into your future efforts to earn money. If you have bought any of our courses, or looked at our free offers, you will see that we suggest relying on your previous skills, interests, and careers as you move toward becoming self reliant on your business for sole source of income.
Use your Career to Power your Wealth
When you think about increasing your wealth, initially your salary will be what is supporting you. At the initial point of starting your journey to achieving greater wealth in your life, you’ll want to ensure that you protect your main source of income, and that is your job and salary. When you buy our course on Affiliate Marketing, you’ll want to be sure to read the modules on focusing your efforts on being an expert in your given fields of interest. You can do this by leveraging any prior interests that you have obtained through your career, your hobbies, or even interests as a child. If as a child you were an avid Lego building, a star on the baseball team, an acclaimed artist. These are all special skills and interests that MAY lead you into becoming an expert in a few chosen fields of interest. Once you start to look at yourself in a different way, and think about how you can give value to current and potential customers, you’ll begin to see the world of opportunities that exist in the world of small businesses.
We often throw around the phrase “Small Business” but what does that exactly mean. Well Wikipedia defines this as:
The U.S. Small Business Administration counts companies with as much as $35.5 million in sales and 1,500 employees as “small businesses”, depending on the industry. Outside government, companies with less than $7 million in sales and fewer than five hundred employees are widely considered small businesses.
Fewer than 500 employees??? WOW, so small businesses are actually quite large in size. What I found when my small business grew, was that adding employees just became a necessity. I just needed more people to do those things that I no longer had the time, or interest to invest my time in. I felt that it was more important for me to focus my efforts on better money making opportunities.
Wait until you run out of Time
You’ll know if and when it is time to look towards relying totally on yourself for your future income. It can be a scary transition, and you’ll have to think long and hard about all of the factors before making this change. But for some of you, and hopefully all of you, the decision will be so apparent that it really isn’t a decision at all. Hopefully, you are making such a stable and consistent income that surpasses what you are making in the way of salary that you feel comfortable in moving on.
You can outsource to third party providers if you need assistance. If you find that you just have no time in the day, this isn’t a good reason to quit your job. You can always hire one or more contractors to work per hour on projects for you. This will allow you to keep your income, and the stability of it.
Does your Age and Life Situation Matter?
Yes, it does. If you are in your late teens or early twenties and single, you probably have less financial obligations that require you to meet monthly or annual payments. The situation of someone who is younger than 25 is definitely different than a 40 something who has a wife and kids. A person who is 40 something, just cannot take the same risks as someone in their early 20s in most cases. Every now and again I come across the story of someone who lost it all while trying to build a small business.
The problem that some people run into, is not knowing when to give up on a business. It is never easy, but in some situations, pushing forward with a failing business just isn’t the right thing to do. Some business owners end up with irrational dedications to a product, or service, that just isn’t making enough money to support the effort.
So, with all of this said, you want to make sure that you analyze your own personal situation. It is true that some 40 somethings are in a financial and personal situation that warrants taking extra risk in making a small business.
What if you Love your Job?
If you love what you do, then don’t worry, keep doing it. With all of the effort that you’ve been putting into being the best you can be for your company, you are in a good position. Remember, never take your career for grant and give it all of the effort and attention that it requires.
For me personally, I do love my job and it has some great opportunities in it for Salary and Wealth in the future, I don’t have a plan to move on from my career. With that said, I am very passionate and all things entrepreneur, and therefore I do put a great deal of effort into building businesses, teach people how to run businesses, affiliate marketing, and internet development. Wow a lot huh? Well I do like to keep business, and also to make extra income. 10 years of running my own business, building websites for myself and for clients, selling a business, creating affiliate programs, being an affiliate, hCAFave put me in a great position to teach others about how to implement wealth building strategies in their own lives.
My Career – My Background
I have an undergraduate degree in Accounting, a Masters of Business, a CPA(Inactive), and I’m a Chartered Financial Analyst(CFA). I’ve run a small business for over a decade, and I’ve successfully completed a sale of a small business to a strategic investor, and now I professionally invest money for clients. My passion is entrepreneurship, and luckily in my career I am able to work on building a business.