Commit To Specific Income Goals
If youre serious about freelancing, you cant just daydream without taking any action. Sujan Patel, an internet entrepreneur and growth expert , recommends having monthly and even weekly or daily income targets. In my personal experience, income targets are absolutely necessary.
Before you become a freelancer, in fact, you need to have an honest conversation with yourself about how much youd be okay making as your own boss. Maybe youd be satisfied with $10,000 per year less than what youre making now. Or maybe youd quit your current job only if you could;make significantly more as a freelancer.
Whatever the case, as Patel says, its helpful to know what you need to earn on a daily basis so that you can structure your activities to best meet your needs.
Setting income targets on a daily, weekly;or monthly basis also allows you to clearly see how much you should be charging for your services.;Too many freelancers make the mistake of starting off at a low hourly rate and sticking with it for years. They wonder why they never make enough money to pay the bills — despite the fact that they’re charging;low, bottom-of-the-barrel rates.
How To Earn A Seven Figure Salary: Awesome Guide
Dream for any American is to blossom for a seven figure salary. There are few people who can achieve and gain a seven figure salary quite easily while some people struggle to save a few bugs. The fact is that it has been a mystery till date about earning a seven figure salary.
An individual who has achieved the same, mentions that there are two principles to obtain a seven figure salary.
The first principle is getting to the road where the employer pays for what youre capable for.
The second principle is that the seven figure earners putting them in the hands of another person.
Lets glimpse through a few steps about how to earn a seven figure salary.
Think Outside The Box
Whether you want to make six figures or a million dollars, you have to do things differently than the average person is doing.; Yes, you can make six figures in a traditional job.; However, your ability to continually increase your income over time is usually much better with a nontraditional job that has a greater potential to scale up your income over time.
If you want to have unlimited potential to grow your income to $100,000 and beyond, then its necessary to think outside the box.; This means doing things like:
- Developing multiple streams of income- the average millionaire has 7 streams of income. The more ways you can make money, the higher and more secure your income will be. Read this post about multiple streams of income to find out more.
- Finding income that scales- One person can only do so much. Find ways to do work once and get paid many times for it.
- Creating passive income- income that is not totally dependent on your time and energy is best. find ways to make money that pay you while you sleep, such as rental income or royalty income.
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High School & College Years
Its important not to be a donkey and get mediocre grades. If youre just coasting with a B or worse, youre going to end up going to a B college or worse. At your B college, if you are mediocre again, well then you are going to be stuck with mediocre opportunities.
Do you really think youre going to be able to compete with the student who gets straight As in high school who then gets straight As at Columbia for the same jobs and opportunities post graduation? No. A rational employer will choose the straight-A student over the B-student 9 times out of 10 all else being equal.
A Identify Your Niche
Successful consultants don’t help everyone with everything. They have a specific type of expertise that helps a specific type of people. This is called a “niche”. In order to identify the right niche for you, you will need to factor in your existing knowledge, your current skills, and what the market is demanding.
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Can I Make 6 Figures Without A Job
Its possible to make 6 figures without a job. The best way to do it is by having one or more profitable side hustles that generate a six-figure income for you or by starting your own business.;
For example, I make 6 figures a yearfreelance writing online and the first digit isnt a 1.
The key to making six figures or more with side hustles or businesses is picking the right ones.
These ways to make six figures without a job let you use the skills you already have to make money.;
You dont necessarily need a bachelors degree, job experience or special training to make six figures with thesecreative side hustles.;
And if you start more than one six figure side hustle, you can have multiple income streams to help you reach your financial goals!
Thats a good reason to consider different ways you could create monthly income using the skills you already have.
Why Does Six Figures Matter What Does A 6
For those living in more affordable cities like Petal , hitting the threshold of six-figures of income could make all the difference between early retirement or not.
But as youve probably know, if you are living somewhere extremely expensive like New York City, you wont get very far with 100K. Sure you will be able to cover costs but if youre interested in purchasing a home, things would get tight.
GoBankingRates;put together a valuable list, comparing the most affordable city for each state. Is your city on the list?
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D Create A Content Calendar And Establish A Posting Schedule
Another excellent way to create consistency among your readers is to have content that is created with intention — or rather, you know your audience will be interested in reading it — and content that is shared on a regular basis. When you’re just starting, it’s a good idea to have a few blog posts lined up that you can schedule ahead of time. That way, you have pieces to post to your blog and can gauge what your audience is interested in.
How Much Is A Figure
To keep things simple, lets break everything down to its core.;A figure is a digit or a number.
A figure would be any single number, so any of the following:;0, 1, 2, 3, 4, 5, 6, 7, 8, or 9.
Now if you are currently making $15 an hour at your job, your hourly wage is made up of two figures: 1 and 5.
If you receive a $100 birthday gift, then that represents 3 figures: 1, 0, 0.
Your $1200 rent payment is 4 figures: 1, 2, 0, 0
Planning to purchase a home requiring a $15,000 down payment? Well that breaks down to 5 figures: 1, 5, 0, 0, 0
Now that we have covered the basics, lets discuss some small contradictions.
If your paycheck last week was $1394.83 that unfortunately wouldnt mean you taking home a six figure paycheck.
That would be considered a four-figure paycheck.
Why? Because when people are discussing money in the context of their salary and income, they are only referring to the dollars , the cents are not taken into consideration.
So what do 6 figures look like?
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Seven Figure Salary Means:
The fact is that super-wealthy are also shielded from gender inequality. There are few official figures which open up that, men are 14 times higher who earn seven-figure salary than women. A seven-figure salary means the number of digits in the salary is seven.
An example of a seven-figure salary is $1,000,000 to $9,999,999. This is actually considered as a large salary with a specific range.
When an individual earns a seven figure salary then he stands above average American income. The fact is that when an individual picks the right career path, then it is quite easy to earn a seven figure salary.
What Does This Tell Us
If you create physical products like art, clothing, and jewelry, or digital products like online courses, eBooks, and coaching programs, and you don’t have an online shop, building one could be the best thing you do for your business.
Small business owners, who often can’t afford a brick-and-mortar store, can compete with large companies thanks to online stores. Not only do they give small business owners leverage, but online stores help with managing inventory, tracking sales, increasing brand exposure, and more.
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Figure Jobs That Dont Need A College Degree
While you may be able score one of these six-figure jobs without a four-year college degree, they do require extensive training. This includes, in some cases, an associates degree or other professional certifications.
Air Traffic Controller
- What they do: Design and build websites based on client requirements
- Median annual salary: $122,320
Note that most web developers will have some sort of college education, but if you build your skills up enough, you can definitely get a job in this field without a formal degree.;
Just ask Mark Zuckerberg, who seems to be doing pretty well for himself despite dropping out of Harvard before graduation.
Make Six Figures Through Real Estate
Real estate is my favorite way to achieve financial freedom. It is a tangible asset that is less volatile, provides utility, and generates income. Stocks are fine, but stock yields are low and stocks are much more volatile.
In an inflationary environment, you want to own real estate with a fixed-rate mortgage. Over time, inflation whittles down the cost of your mortgage and helps boost the value of your real estate. This one-two combination helps the average person get wealthy over time.
Take a look at my two favorite real estate crowdfunding platforms. They are both free to sign up and explore.
Fundrise: A way for accredited and non-accredited investors to diversify into real estate through private eREITs. Fundrise has been around since 2012 and has consistently generated steady returns, no matter what the stock market is doing. For most people, investing in a diversified eREIT is probably best to gain real estate exposure.
CrowdStreet: A way for accredited investors to invest in individual real estate opportunities mostly in 18-hour cities. 18-hour cities are secondary cities with lower valuations and higher rental yields. There is potentially higher growth due to positive demographic trends. If you have a lot of capital, you can build your own diversified best-of-the-best real estate portfolio.
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Nobody Makes Money Because Thecompensation Plan Is Set Up For Failure
This is an interesting argument and 20-30 years ago, I would say it was a legitimate argument.
However, the network marketing industry has developed, matured, and evolved over the years.
The newer compensation models make it possible for people with average skills to make a good deal of money and those with above average skills to make ridiculous money.
Think of it this way. Amway , was the pioneer of this industry.
In the same way Henry Ford created the model T, Amway created a new wealth vehicle that gave people an opportunity to succeed.
The problem with their model was that it was slow, hard to drive, and had lots of moving parts.
Most people couldnt drive it.Most couldnt make it work.
Do you know why Fords early car was called a model T?
It was because Fords first attempts were failures.
People dont drive Model Ts anymore unless theyre at a car show.
My point here is this, vehicles have evolved over the years.
There is more speed, power, luxury, and safety now.
Tesla is currently redefining the industry once again.
The same kind of development has happened in network marketing over the past few decades.
The new compensation plans have evolved dramatically.
They are easier and faster to drive.
Unlike the compensation plans at the infancy of the industry, the new compensation plans make success possible and more feasible.
Does it mean everybody will make money? No.
Just like in regular business, profitability is based on your ability to get results.
Computer And Information Research Scientist
These scientists solve complex problems using computer software. They create and refine tools and methods, as well as overseeing research projects in fields like medicine and business. Specialties in this field include data science and robotics.
Nurse anesthetists must have at least a masters degree and be accredited by the;National Board of Certification and Recertification for Nurse Anesthetists.;
Certified Nurse Midwives must have a masters degree in nursing, be licensed to practice in their state, and be certified by the;American Midwifery Certification Board.
NPs must have a masters degree and meet their states licensure requirements.
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How Much Is A 6
A six-figure salary is any salary thats more than $99,999 and less than $1,000,000. If someone refers to a six-figure salary, theyre usually talking about what someone earns in a year before tax and any other deductions. It may or may not include the value of other benefits they receive.
However, you may have spotted something with the previous explanation.
Lets take the amount $1,234.56. If the question how much is 6 figures? was purely based on counting the number of figures in an amount, this would be six figures, no?
Well, yes, that would absolutely be correct purely from a counting perspective.
But when people talk about a 6-figure salary, theyre talking purely in dollars, not cents.
How Much Is 7 Figures
Seven figures refer to a number with seven digits, meaning that its any amount between 1,000,000 and 9,999,999. As this is usually mentioned in the context of someones annual salary, it thus typically refers to anyone earning $1 million or more but less than $10 million.
As you can probably tell, if youre earning 7 figures, the meaning really isnt bad.
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What If Your Grades Were Terrible
Lets say youve got some work experience under your belt. However, you just arent satisfied with your career or your profession.
You didnt do particularly well in school and read this post a little too late.
You could always go for an elevator technician job in SF and make close to $300K. There are so many regular jobs paying six figures if you swallow your pride.
However, I understand not everybody wants to sweep floors and clean toilets to make a high income. The good news is there are many other options.
Aerospace Engineering And Operations Technician
- Annual salary for top earners: $99,970
- 2019-29 job outlook: 7% growth
Aerospace engineering and operations technicians work with equipment that’s critical to preventing failure in key components of aircraft, missiles and spacecraft. Some technicians are learning advanced forms of automation and robotics, whereas most workers are increasingly being asked to program and run computer simulations to test new aircraft designs.
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A Define Your Product Or Service
If you don’t have this established already, figure out what exactly you want to sell. Are you an artist? Do you love coaching entrepreneurs? Whatever you do, make sure you define it. Of course, this will likely change over time as your business grows, but it’s important to start with a clear picture of what you’re selling.
If Network Marketing Is Legit Why Do So Many People Fail
Failure in this industry is for the same reasons as anything else in life.
1. Lack of True Commitment The barrier of entry into network marketing is still ridiculously low.
For many companies you can pay a minimal amount and technically be in business.
This produces a sea of people getting into business without thinking it through, without establishing a plan, or because somebody told them its an easy way to get rich.
Without true commitment and with false expectations, they are destined to fail.
This lack of commitment is rampant in our society.Its human nature.
I dont care how easy something is, people arent big on commitment.
Commitment to take action.Commitment to learn.Commitment to grow.
Interestingly, if you decide to build a network marketing organization, most of your growth will come from a small handful of committed people.
Thats just how it works out.
Its not that everybody couldnt do it they just dont.
2. Business is Business- According to the Small Business Association, about 50% of all businesses survive to five years.
Thats not even saying they are highly profitable or even profitable at all, just that they survive.
Failure is part of entrepreneurship.
Based on what Ive seen, the quit rate in network marketing is probably more than 50%.
However, quitting and failing are two very different things.
Often in my organization, the people who quit actually never even started.
Its hard to quit something you never started.
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Real Estate Agent Or Broker
No degree, no problem. A real estate agent is a great career path for someone who loves working with people and likes having flexibility in their lives. Like anything, there is a learning curve to becoming a great agent who makes over $100,000, but it wont happen overnight.
In fact, most people in the world will never make over $100,000 annually, so patience is key with any industry, especially real estate.
Real estate is a grind. You need to know your game and be open to learning and growing in order to hit the 6 figure club. Matthew Lama made the jump from accounting full time to working for himself as a real estate agent and in this video below, he shares the steps to becoming a real estate agent:
You can start a real estate side hustle on the side and grow it as you learn before making the big jump, or you can do what Matt did and go all in. Either way, recognize that becoming a real estate agent does not guarantee you six figures.
That being said, becoming a real estate agent and keeping your nose to the grindstone can be one of the best jobs without a degree!