What Your Guidance Counselor, Career Counselor, and Own Mother Probably Never Told You...
The alarm clock jars you awake at some insanely early hour. As you hit the snooze button you think, "there's gotta be a better way to make a living." As someone who rolled out of bed this morning at 8:30, I'm here to deliver the good news: there is.
A lot of people dream of escaping "Dilbert's world" and being their own boss. Perhaps the biggest reason these dreams get derailed is money. Or, more accurately, faulty thinking about what it means to "make a living." I'm no exception. For a long time I thought before I could take the leap to self-employment, I had to first figure out a venture that would generate the same amount of income as I was then earning.
Develop Multiple Profit Centers
Not so, says Barbara Winter, self-bosser and author of Making a Living Without a Job Winter is an enthusiastic advocate of what she calls "multiple profit centers." Instead of thinking in terms of a single income, i.e. a "job," Winter recommends aspiring entrepreneurs develop several income sources.
Outdoor enthusiast and neighbor Bob Sadowski is living proof that you can have your cake and eat it too. Bob lives on 80 acres in rural Plainfield, MA where he's parlayed his life passions into his livelihood. When not running New England Bob's Snowmobile Tours of Quebec snowmobiling tours throughout Quebec (one covers nearly 1,100 miles) this vintage car enthusiast specializes in buying and selling antique car and truck parts out of his barn.
Today my income comes from five sources:
Keep Your Day Job
Maybe you aren't interested in quitting your job but you like the idea of not having all your eggs in one basket. When traveling to San Francisco, I stay in an apartment in a lovely hilltop home in the Ashbury Heights section of the city. The owner is a Bay area native who, in addition to teaching reading to grade schoolers (which she absolutely loves), has set up several additional sources of income.
For one, she rents the in-law apartment to tourists through the local B&B association on per night basis earning considerably more than she would with a year-round tenant. For weekend and summer time income, she parlayed her knowledge and love of the city into a personal tour guide business with a steady stream of customers right in her own home. She even takes in a few extra bucks renting videos to her overnight guests.
Maybe you don't really like your job but can't afford to just up and quit. Say your long-range goal is to make $50,000. You don't need to be a math whiz to know there are different ways you can slice and dice this. For simplicity sake, though, let's say you decide to set up five income streams, each generating $10,000. Since you'll be building your multiple income streams while you're still gainfully employed, starting two side businesses simultaneously is probably about your max time-wise.
What you now have is a monthly goal for each business of just over $800. That's $200 a week. If making $20,000 a year seemed daunting, Winter says, psychologically earning $200 is more feasible: "Knowing what your financial goal is makes it easier to determine what action you'll need to take to accomplish it."
So what are you waiting for? It's your life!
"Off the beaten career path" consultant, Valerie Young, abandoned her corporate cubicle to become the Dreamer in Residence at http://www.ChangingCourse.com, offering free resources to help you discover your life mission and live it. Her career change tips have been cited The Wall Street Journal, USA Today Weekend, Redbook, Entrepreneur's Business Start Ups, and on-line at MSN, CareerBuilder, and iVillage.com. An expert on the Impostor Syndrome, she's presented her How to Feel as Bright and Capable as Everyone Seems to Think You Are program to thousands of people.
MORE RESOURCES:
 Los Angeles Times | April job losses end state's eight months of gains Los Angeles Times Some of those who are discouraged by their job prospects have gone into business for themselves. (Francine Orr, Los Angeles Times / April 11, 2012) By Ricardo Lopez, Los Angeles Times California's labor market stumbled in April as employers in a wide ... Fla. April jobless rate drops to 8.7 percent, state loses jobs but thousands ... South Bay adds 3600 jobs, strongest employment gains for April in entire state Local jobless rate declines |
 Politico | Report: Wisconsin lost 5900 jobs in April BusinessWeek By TODD RICHMOND Wisconsin lost nearly 6000 jobs in April according to preliminary monthly data state labor officials released Thursday, putting Republican Gov. Scott Walker on the defensive as he faces a June 5 recall election. Recall Roundup: Jobs back in focus as new report shows losses Walker, Barrett continue sparring over jobs Walker and Barrett keep fighting over jobs number |
 AppAdvice | Steve Jobs TV movie to film at the original Apple garage CNET The garage where the first Apple computers were built will be used in the upcoming TV movie about Jobs. by Josh Lowensohn May 18, 2012 4:48 PM PDT Follow @Josh For those wondering how authentic the upcoming made-for-TV movie about Steve Jobs will be, ... Steve Jobs biopic to begin filming in garage where Apple was born Steve Jobs Movie Begins Filming in the Original Apple Garage 'jOBS' biopic starring Ashton Kutcher will shoot in Apple Garage and childhood ... |
Proposed arena a job killer, say Port of Seattle leaders The Seattle Times Seattle and King County leaders say the Port of Seattle can thrive next to a new NBA and NHL arena, but the Port sees potential damage to its plan to expand and add up to 100000 new jobs to the area. By Emily Heffter The sky is falling! |
Best and worst jobs for your health Fox News A healthy job is about more than just avoiding hazards, like dangerous material and machines. Employees need respect, benefits, wellness incentives, and control over their work, says L. Casey Chosewood, MD, senior medical officer for the Total Worker ... |
 Hollywood Reporter | Sorkin says Jobs movie won't be straight biography Reuters NEW YORK (Reuters) - Screenwriter Aaron Sorkin hasn't yet figured out how to put the life of Apple co-founder Steve Jobs on the silver screen, but he is certain it's not going to be a straightforward biography. Sorkin, who won an Oscar for his ... REFILE-Sorkin says Jobs movie won't be straight biography Apple Co-Founder Steve Wozniak Hired to Help Aaron Sorkin on Steve Jobs Biopic Aaron Sorkin Says Steve Jobs Film Won't Be a Standard Biopic; Apple Co-Founder ... |
 IGNN | Utah's job growth slows, unemployment rate up Salt Lake Tribune Data show that a sluggish labor market still has some vigor as nearly all sectors of Utah's economy added jobs in April. By paul beebe Job growth in Utah slowed in April for the fourth consecutive month and the unemployment rate rose, suggesting the ... Illinois jobless rate drops but job growth slows Illinois Adds 140700 Private Sector Jobs Since Recovery |
 Bloomberg | Who is the real jobs killer -- Obama or Romney? Fox News When it comes to the audacity of trope, it is hard to top President Obama -- a big time jobs killer. One of the president's re-election campaign websites features a new attack ad in which a steelworker brands Mitt Romney as a person “like a vampire†... Mitt Romney's claim that 100000 auto jobs have been lost under Obama Fact-Checking Romney's Jobs Stats The Austerity Trap and the Jobs Deficit |
Santa Cruz County adds 3500 jobs in April San Jose Mercury News By JONDI GUMZ - Santa Cruz Sentinel SANTA CRUZ - Santa Cruz County saw a spurt of growth in April, adding 3500 jobs compared to March, and unemployment fell to 12 percent from, 13.7 percent in March even as the labor force grew. |
Summer jobs introduce kids to Uncle Sam, taxes Kansas City Star By STEVE ROSEN Expect to hear those words from exasperated teenagers or college students over the next few weeks as they set aside their calculators and toss their textbooks to start summer jobs. For many young workers, this will be their first time ... |
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If you want a drink of water, do you hire a focus group or pick up the Yellow Pages? No. You go to the kitchen, fill a glass and drink.
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Job! Money! Career!
Feel somehow your life is stuck in MS-OFFICE - The reality of life for MBAs is Excel or PowerPoint , I heard Google is catching up at campus. Having gone through this myself, (I am still not out of it!), having had the nightmare of freshly minted MBAs reporting to me every year ( 90% of MBAs in their first job believe that their first Boss in Incompetent) and struggling to manage their transition to reality, guess I am now in a position to give some Gyan on assessing your job and career moves.
Common Résumé Mistakes
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Experience Hear-See-Do
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