Have a business idea but not sure what to do with it? Check out this article to see the perks of being an entrepreneur and find out how to turn your idea into something tangible…
At age fifteen my aunt hired me to help her clean houses for $10 a day. Noticing she was usually paid between $40-$55 per job, I realized the income potential. In the early ’90s, the minimum wage was about $3.80 per hour.
Long story short, I needed a car and was already planning to move out of my parents’ house. I needed a good income to make that happen.
Realizing the amount of time it would take to save that kind of money, I applied for a job at a local Jack’s Restaurant. After finding out that they, along with everyone else willing to hire me at that age, only paid minimum wage, I sadly accepted the job.
Then for about three nights afterward I pondered what my aunt made cleaning houses. Figuring the number of hours I would have to work at Jack’s to match that, I was blown away at how many bill-paying adults had minimum wage jobs.
It made no sense to me.
Why would you work at a labor job for such low pay when you could do another kind of labor job and make two days salary in two hours?
I never even showed up for work at Jack’s because it didn’t make good business sense to me. I knew I needed something steady to be able to save that kind of money, but it wasn’t going to happen at minimum wage.
I sat down and wrote out plans for my business and how much I needed to make.
If I could get two steady housecleaning jobs per week, that would match the weekly income I would’ve had at Jack’s. The best perk, I would only have to work about 4 hours a week to make it.
I then figured what my full-time income would be if I did two jobs a day. $550 a week was good money back then. I was then sold on being an entrepreneur. Fewer hours, more money. Makes sense.
THAT is where my entrepreneurial spirit began.
I know, I know. It was only house cleaning, a maid’s job, as some people call it. But the difference in the money was worth it to me.
I increased my pay every so often by increasing what I charged. I charged above what I felt my current income would have been working for someone else. I developed different skills over the years and added services to what I offered.
I eventually added organizing as a service. This was useful in the cleaning industry. People paid me big bucks for that skill. My clientele almost doubled.
I was making an entire week’s income off of one organizing job sometimes.
I then developed a new skill and added on interior decorating. I started out charging much less. I did odd jobs and smaller stuff like picking paint color and helping people shop for items they wanted to put in their room.
I charged by the job then worked my way up to $45 an hour. I thought I was doing great when I started making $125 an hour, but my skills and knowledge called for it. I now charge $200 just for a consultation.
My point is, you work your way up.
You have to take into account what other people are making, inflation, and many other factors. When you’re in business for yourself, be sure to calculate in providing your own insurance, expenses, and taxes you will have to pay.
What I didn’t care about was a brag-worthy title.
I cared about flexibility and freedom.
At fifteen I was determined to make it without having to work for minimum wage. By the time I was twenty-five, I had a small LLC and employees.
Over the course of about ten years, I worked my way up to a little over $100,000 a year. I worked hard to make that kind of money but found the secret to not having to work so hard was hiring employees.
Now, twenty-eight years later I have started and helped run about a dozen businesses.
I’ve learned the difference between being an entrepreneur and just simply being self-employed. If you are doing all of the hard work you are just simply self-employed. An entrepreneur hires help and then moves on to make money in other areas.
Even as a self-employed person, the best perk is getting to be the boss, setting your own schedule, and doing your own thing.
A New Leaf
When I became a real estate agent, I enjoyed being in a professional position, yet being in charge. I liked having the freedom to go and come as I please, and always have.
But for some people, the risk isn’t worth the perks. You can read about my experience with the risk of being self-employed here.
One of the worst things I have found with being self-employed is the roller coaster income. Never knowing how much you will make is hard.
I got out of the real estate business because it required much more of my time than I was willing to give to make it work. The roller coaster income was worse in real estate than any other business I’ve ever been in.
Some clients would take months or even years to choose a home.
Before starting your own business, you have to weigh the pros and cons. I strongly suggest doing so BEFORE quitting your day job.
The best way to become self-employed is to start a side business. Then work your way up to full-time.
As a mom, I have always preferred to have several side businesses. Spending time with my boys was the most important thing to me.
Since my husband and I have been together, we have paid off over $100,000 in debts. I no longer feel the need to work all the time, like I used to. I can now work leisurely.
I now like to use my time to help others.
If you are considering starting your own business, I suggest having a mentor or business consultant to help guide you along the way. I offer free advice to anyone willing to take a leap of faith!
No Excuse for Unemployment
With the internet right at our fingertips, there are many ways to make money and start a business. Work from home businesses such as online stores, blogs, shopper services, and so much more.
My goal here is to give you the encouragement to go for it.
Many businesses that require a degree out in the corporate world, are reachable as an independent contractor. From freelance writing, simple graphic design, creative marketing, and so many more jobs are available that you may be qualified for.
I can help you find your niche.
The Right Idea
In 1955, a salesman named Ray Kroc was able to make a good living selling milkshake mixers to small restaurants across the country.
Even though someone else started the McDonald’s restaurant, he ended up being the one with the dream to take it coast to coast. When he came across the McDonald’s franchise business, he decided to turn it into a corporation.
That one big idea made him a millionaire. He had a net worth of $600 million at the time of his death in 1984.
He perfected the McDonald’s idea, although not his own, and turned that into a chain business. He realized the income potential and that alone was the drive for success.
What I am introducing you to today has the same structural backbone. Take something you love to do, something you see the potential in and turn that into your own business.
But like I said, don’t quit your day job until it is thriving and successful, or until you see a necessity to run it full-time. Even then you can hire managers, marketing experts, etc to help.
Your day job is your backup plan, so you don’t want to get rid of that until you see that your realized “dream” is one worth chasing.
Don’t have the money to start your own business?
My life and business have given me the privilege of meeting some of the wealthiest people in Alabama. Some of those people are investors who invest in other people’s business ideas.
These are rich people who make their money off of funding other people’s businesses. You need to know about this opportunity.
Having your own business doesn’t have to be hard if you have the help that you need to get it started. Fill out the form below and let’s get you off on the right foot. I will research the business you want to start and see if I can give you some information to help.
My mentoring services are free now and forever.
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