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Do you worry about whether you could earn a stable income if you started a business? I’ve talked to hundreds of people just like you who are currently in a day job that doesn’t light them up (or worse – makes them miserable) who would love to leave it all behind and start a business. However, there is one huge worry that hangs over them and that’s money. Jut how do you make a stable business income? “How will I be able to make as much money as I make in my day job?” “My business income won’t be as secure as my day job income” “What if my business doesn’t make any money and I have to get another job” “How will I manage my business money properly? I know nothing about that and have no idea how to do my taxes!” Have you ever had a great idea for a business but then instantly thoughts like this pop into your head and you get too scared to even give the business idea a try? It happens to so many people and I want to give you a bit of reassurance and a different perspective on these thoughts…
Why we find ourselves stuck in these jobs in the first place  I strongly believe for a lot of us we get stuck in our jobs because it’s what society tells us we should do. We’re taught from a young age to: get an education… …choose subjects at school which lead us to what we can choose for a degree… …which leads us to what we can choose for a job… …get the job… …work hard… …wait to retire… It’s not really our fault – society leads us along this path, a bit like – learn to drive, go to uni/college, meet someone, get engaged, get married, buy a house, have a baby… how many people have found as soon as you get married people ask when you’re going to have a baby, or as soon as you have a baby people ask when you are going to have a second? It’s the path that society is trained to follow – much the same as the career path we’re planted on from when we are really young at school. We’re told it’s the ‘safe’ option and it will give us security.  How many of you have stayed in a crappy job because you’ve said to yourself ‘but I need my regular paycheck’ or ‘but the benefits are good’. Those things are both true – of course we need to make regular money and of course you are going to appreciate the benefits your job gives you. That’s normal and it’s okay to think this. However – this can also make us stuck. We can spend years in a job we’re unhappy in because we feel too safe and secure in this comfort zone we have found ourselves in. We would rather stay unhappy just to stay comfortable. I’ll say that again because it’s so important to see where our fears come from… We would rather stay unhappy because it’s comfortable… …and even though we are unhappy we know what that feels like, so we feel safe. Crazy isn’t it?
So let’s flip our perspective on this  Your job might actually be no more secure than running a business!  What people say… A job:
  • regular paycheck – just turn up every day and at the end of the month you will get a paycheck for a predictable amount
  • reliable – the same payment every month
  • safe – you can plan your life based on your monthly income (so save up for things or book a holiday)
A business:
  • no predictable income
  • no security
  • you’ll have to work every day of your life with no time off
What I say… A job:
  • boring
  • micro-managed
  • overlooked for promotion
  • toxic environment
  • have to negotiate time off
  • (you do get a regular reliable paycheck – but are these trade-off’s worth it?)
A business:
  • Opportunity – here is the key to the freedom you have been waiting for! Your chance to shine, to be you and to share your amazing talents with the world – with people who love what you do!
  • Excitement – do something you are passionate about that you get a huge sense of achievement from
  • Huge earning potential – earn loads more than your day job – you’re not capped by what they are willing to pay you
  • Secure – add recurring revenue or passive income
  • Safe – you can add multiple revenue streams to your business to create a stable business income
  • More time with your family – work from home, no commute, choose your hours, plan your time off for the whole year based on YOUR schedule
  • Change others’ lives – your business could help change the lives of others too – how awesome is that?
How to create a Stable Business Income If you’re still really worried about whether you could earn a secure income from your business then here are some more things you can investigate: Multiple revenue streams – this means not just relying on one product/service to bring in money. So instead of just doing 1:1 coaching, you could also sell an online course or a digital planner. There are so many different revenue streams you could add to your business. The key is to focus on doing one at a time! Some ideas:  1:1 coaching online courses digital downloads membership site workshops (online or in-person) speaking events a product line Passive income – this is where you create something once and then once someone buys it you don’t have any work to do to provide that product or service. For example – creating a digital planner that you sell on Etsy. You create the planner once, drive traffic to your product on Etsy and when people buy it they can instantly download it and you don’t have any work to do at that point.  This is a great way to make money while you sleep, work on your other revenue streams or spend time with your family. Recurring Revenue – this is where someone pays you on a recurring monthly basis (like a subscription to Netflix for example). So you could have a membership site where you provide new content each month to teach/help people and they pay you on a recurring monthly subscription to remain a member and access the content. This is a great way to add security to your business because you know each month you will receive a revenue of (number of members) x (cost of membership), minus a few cancellations (which is completely normal).
How can you learn more? I’m going to be running a week of FREE coaching and workshops very soon to help you create your own personalised action plan to make your dream of leaving your day job a reality… *Transformation Week* 10 – 14 February 2020 “A transformation week of coaching and workshops to create your roadmap out of your day job: Think of this as a modern business plan. But this one isn’t for the bank, this one is for you and your dreams! Let’s cut through the overwhelm, confusion and procrastination by creating your own personal roadmap for how you are going to transition from your day job to that entrepreneurial life of freedom” If you want to find out more (of course you do!) then join the waitlist now >>