10/11/2024
Buckingham Avenue Behind the Biz ✨
I love dreaming big & most of my goals are related to living a fulfilling life. Sometimes money and income can be a taboo topic, but I view money as a tool to help you live your best life.
What would you do with a little bit of extra income? The average raise is 3% but can also increase from 5-10% depending on performance. So if you currently make $50,000 at your job, your raise could be $1,500 on average or $5,000 on a good year. If you currently make $100,000 then you’re looking at $3,000 to $10,000 as a very high raise. But what does it take? Do you need to stay late at the office? Does your 40 hour work week turn into 50 hours? How open is your boss to having these conversations?
I believe that having a good paying corporate job that you enjoy is truly a blessing. I am so lucky to consider myself to be in that group.
But maybe you have big dreams (like buying a second property like we did) and you’d love to be able to contribute financially to that goal. I like to encourage people to consider starting a side business. When you run the numbers, it’s EASY to start and grow a profitable side business to exceed the maybe $5,000 that you’d be begging for in a raise. And you don’t need to have a big conversation with your boss.
Bonus beyond income - starting your own side business is a way to provide extra fullfillment in your life. It is so satisfying to turn a hobby or passion project into a successful side biz. And when you remove the pressure to turn a side biz into a full time job, and you embrace it for what it is: an opportunity to find fullfillment and make some extra income - it becomes fun!
Another bonus - as you grow your business, you will also grow so much as a person. Chances are you will be BETTER at your corporate job because you’re learning new things and growing in your confidence. I know I’m so much better in my corporate role because I have an understanding of business from what I learned with my small business. And this is so valuable!
Have you ever considered starting a side business? I’d love to hear more!