Increasing Income Series I

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Written by: Nikoya | Hire Me

9-how-to-create-income-passively-todayTowards the end of writing my previous post about creating extra income, I got the idea to start a “increasing income series”.  I will write about my specific journey towards a certain financial goal.

I plan to closely write about my plans, goals, experiences, financial reports and monetary figures (yes actual numbers! No matter how scary it may be!) as time goes on.

I want to stay accountable, but also add clarity to the journey.  That is my purpose for doing this series on this website.

Hopefully when I have completed it, it will be a great help and motivator for those that choose to read and follow along.

Given that my blog is ranked high for certain search keywords related to electric foods, fasting and growing long, afro-textured hair, I am not sure how many readers will follow along.  Even though I am a life coach that focuses on life purpose and quality of life in every area, I feel that this is very much aligned in experiencing a good life.

Money is not a bad thing.  The love of money is what is unhealthy by breeding greed.  Money is simply a resource to help us all achieve our God given purpose.

What is money?  Money is elusive; it is a symbol that man created in order to keep track of how one spends his time, energy and talents.

My starting point

 

Last year I roughly made $63-$66,000.  My income halted and suffered not only due to a high risk pregnancy requiring partial bed-rest, but because I just really took it easy when it came to business.  I say this because I worked at a corporate job until June.  Corporate jobs give the illusion that you are doing something.  But in reality at corporate jobs you aren’t doing anything.  It’s just faking it.  And making “Joe Shmo” mo’ money… While you live paycheck to paycheck.

While at the corporate job I neglected my businesses, and in addition to that I was living in a completely different region in the country.  I had to start from scratch with no local contacts or connections.

So now, at the beginning of 2014, I am still in re-build mode.  I am a life coach by background and education, but in addition to that my primary new job is to be a wife and mother.  My daughter is 11 weeks old, and I have decided to get right back on top of rebuilding our income.

My financial goals in order of importance

 

The purpose of creating and increasing my income is to eliminate the following personal debts:

  1. Graduate school student loans – $35,000
  2. Credit card debt – $1,086
  3. Husband’s jeep – $15,000

The purpose of creating and increasing our income is to achieve the following personal goals:

  1. Buying a home – >= $240,000
  2. Building a substantial savings account – Exponential

The purpose of creating and increasing income is to achieve the following business goals:

  1. Obtain office space for Virtuberry 
  2. Hire more staff for Virtuberry – 1 account manager, 1 software developer and several virtual assistants
  3. Increase life coaching income to promote books through travel
  4. Have enough growth in Virtuberry that it because self run, and I can focus on writing self-help/life coaching books and find an agent or publisher

Plan for increasing income

 

The way I plan to obtain this level of income is through growing my life empowerment client list (life coaching), signing more contracts for Virtuberry, marketing consulting, selling e-books, advertising on this website, and 9th Mind empowerment offerings through this site.

Last weeks profits are as follows (to really document what I am starting with):

  • Active life coaching business income – $0
  • Active contracts for Virtuberry – $0
  • Active marketing consulting – $0, $220 in progress
  • eBook sales (christmas week report) – $3.09
  • 9th Mind blog Advertising (12.31.13-1.6.14) – $5.20
  • 9th Mind Empowerment Offerings (currently Atomic Access) – $0

So as you see, my starting point is laughable.  I’m essentially in the red and not actively making any income at all.  I intend to change this and build it back up to what it use to be, without the help of any corporate contracts or jobs I cant stand.  I feel like I have mastered that area and never want to look back.

I haven’t applied for a corporate contract or any type of job since the spring of 2011- yet I am still receiving calls and offers for opportunities with in the oil and gas businesses each month.  Each of them start in the late $60’s, but I know that it is not a sustainable path to wealth, nor is the oil and gas industry my realm of influence.

Not to mention, why would I want to cap out at $60-$70?  You’re paying peanuts in exchange for complete misery, bad coffee, horrible small talk and a beige cubicle?  I’m saving the company $70-$80,000 weekly as a sourcing specialist and/or buyer, totaling to nearly $250,000 or more on a quarterly basis; and all you can pay is $65,000 with a measly $440 quarterly bonus?  Didn’t I just save this company more than my entire salary in just 2 weeks?  I don’t think so.

One thing I love is this: I can’t get laid off.


My dream is to eliminate my student loan debt no later than 18 months.  I want them long gone.  It has been so long already (since 2007), it is time.  But the ultimate goal is to have fully functional, life changing businesses, that create jobs and enrich lives.

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