Last Updated on 30 September 2019 by Gertrude
Having an income is a great accomplishment but how does one maximise on their income?.
Learning how to maximise your income means never going broke.
The very rich know how to make use of their incomes because they never have one source of income.
Why is it important to know how to maximise your income stream as a Kenyan business owner/freelancer
What are the greatest tips for maximising your income stream/source?
The following strategies will help you learn how to increase your income:
Start Your Own Business
Starting your own business is a great way of having an unlimited rich life. In fact, there are no limitations on how much you can earn. You get to design your own lifestyle, work from anywhere, define your terms of work, work with whomever you prefer while travelling the world. The great thing about owning your business is that you can automate your business using various online automation systems. For example, if on social media, you get to use Tailwind for Instagram and Pinterest for bloggers. Starting your own business requires for you to be disciplined. Discipline is what people working for themselves don’t have. You’re a loner and with no one monitoring you, there are times when you become distracted. You lose focus and direction for your business. Also, you have to learn to be productive because there’s no structure. A structure meaning, no defined working hours or formal clothing to wear to work.
You are responsible for your lacklustre style. I learnt this one the very hard way, not working on a strict timeline makes one very lazy sometimes. Learn how to use your times productively before you regret the day you started working for yourself.
When you are a solopreneur you need to come with a business idea and I provide a whole list of ideas on how to come up with your business idea. And also ask yourself
What makes you excited to get up every single day.
Why does it make you excited to get up? If for example, it’s making money online or self-development, what happens in your heart.
Notice what people around you complain about. For example, in a facebook group, people asked if there exist healthy fast food options. And a lot of times when it comes to making money online as a Kenyan topic keeps coming up.
What do people around your circle mention as a pain point and how can you solve this pain point for them. It’s where you fill the needs of your customers that sales trickle in.
Establish how much money revenue you’ll make. Find ways to monetise the business idea or the complainant. If it’s making money online as a Kenyan, ask yourself what are the questions people ask about this topic. And answer their questions in products or blog posts like this one and monetise the blog posts.
Do you know how to write a business plan? A business plan doesn’t have to make you faint before you even begin writing it or discourage you from starting your online business. A business plan has to be simple and to the point.
With components like niche marketing/identifying your ideal/target customers. Ways of making money, knowing about your strengths. Grab your own copy of the simplest business plan for online business owners below.
Know-How to Sell
How many business owners have you heard saying they don’t know how to sell. I confess I was there at a point in my life. But when you learn to overcome the power of marketing or selling, you wonder what clout had your eyes filled. If you don’t know how to sell, how are you going to make money? Immerse your brain with information about selling and how marketers sell. What do they do and how they do it. What is copywriting and how can it help you sell more. Who are the greatest of all time and what do they teach in their classes. For example, if learning about copywriting, hop onto Garyvee Instagram page or Dan Lok. Plus more marketing gurus. There’s always a marketer out there suiting your personality. Change your mindset on marketing as well, change how you speak about selling, it’s the hotbed for your online business.
What’s the focus of your energy and how does it apply to your business. Did you know that when you get focused you raise your bar of how you increase your income?
Be time productive
What time of the day do you wake up? And what do you do after you wake up? Increasing productivity means time blocking. Time blocking helps you prioritise. Knowing when to work when you are motivated. Because putting pressure on yourself means working under unpleasant conditions. Knowing how to charge your worth and when to charge your worth.
Do your best
Give your business the best always. Put your best foot forward. When you set a goal, make sure to stick to it. Publish the best content if you are a blogger. And keep your readers engaged by asking them questions that
Ask for a Raise in Your Day Job
When asking for a raise to help maximise your income stream means you understand some of these points
Knowing how to ask for a raise and getting it.
Explain to your boss why you are irreplaceable. What makes you irreplaceable.
What are your most marketable skills and why are they the most valuable skills in the company.
How can you supplement your income?
You have to get prepared to walk away if the position doesn’t make you fulfilled after the pay raise denial.
What do you believe you are worth. If you know about your worth, you’re going to have to ask in confidence. You also need to know how much in your position are paid and make your pay raise request based on other statistics. Now, ask with gratitude.
Find your Dream Job
If you want to maximise your income stream, get yourself your dream job. The following strategies will help you get your dream job so you can help increase your income.
Write about your dream job as you have it. Describe your dream job intensely by drawing a map on what the job feels like. Feel this what will you wear, why. How much money will you be earning in your dream job? What kind of staff are you going to meet in this dream job? Do they look pleasurable? What are you going to wear and how does it feel for you to wear those clothes. How does work feel in your dream job? How does your boss look like, is he a great man or a boring woman.
Make it feel real and it’ll be real.
Watch your mouth.
Your mouth is a dealbreaker. Whatever you say to your colleagues and friends about finding work. What are you saying that work is hard to come by these days? That you are tired of toiling in this earth finding your dream job. Whatever you say, becomes. I teach about mastering your mindset on Instagram and do follow me there on gertiecreates.
Meditate and have faith that the dream job is coming. Having faith beats a heart that’s not hopeful. Keep believing that God is working in your favour and your great score is coming soon. Meanwhile, ensure that you are working in a job or absorbing all the skills you need for these jobs. Don’t stop hoping for this dream because it’s yours and you need it. You could start a blog if you want to be a writer, you could start caring for kids if you like teaching. Volunteer in the field you love so as to bring you closer to your dreams.
Send as many resumes to job opportunities out there to get your job. Don’t say you have exhausted your search. You haven’t because there’s always someone looking for your talent. Ask for advice and leads in the field you want to work in. ask for people to tell others about you and your search for a job. Know your desire is already guaranteed. Be thankful for what and where you are, after all, the day is filled with all the opportunities you want.
Keep learning. When looking for a job, when you stop learning you stop earning. Keep at it. Don’t give up, don’t lose your hope. Each day you have time, don’t waste it on social media absorbing irrelevant things, use that time to learn how to use your time on social media to make money.
Keep your mind hungry for information related to your field. I kept my mind hungry for more information about earning money with a blog, and I guarantee you that information is helping me now in the direction I’m taking my blog to.
What do you want from your business or self? you have to get as specific as possible to get yourself into work. If it’s blogging you have started asking yourself
What are my reasons for getting started on blogging
What’s my WHY, what’s the purpose.
How am I going to craft marketing material for the identified target audience
And who is my target audience and why?.
How am I going to cater to their needs by filling in the gaps according to the questions they have
What are the products/ services I will be selling and why
How am I going to increase the price of my products and their value?
When you get specific, you develop a clear picture of your direction and business. You also develop a strong message to your audience while creating content which sparks interest and a frenzy.
One of the biggest business advice I have received is from jack ma and they revolve around the word delegation. Once upon a time, I thought I was a superhero until I couldn’t do it anymore. I have so many businesses to run but none with an extra hand to offer help. How can I get organised with so much to do daily. Delegate, delegate, delegate again. If you are not better at doing something, get others to do for you, jack ma says. You have to be willing to let go that you cannot be perfect at all the areas of your business by letting others do. In fact, it’s not a sign of weakness as I once thought but a sign of getting other things done. You also get to focus on other areas of your business like improving your knowledge and learning. If you’re still scared to hire consider the following/
What would I do with an extra few hours every day?
How would these extra hours benefit me
Hire part-time workers for beginners
Be ready to fire them asap without sympathy when they are not productive.
Hire a Coach
Hiring a coach for your online business seems like a silly heavy-duty task. No, in fact, coaches help open our eyes. You know what Nigerians say, what an elder can see sitting under a tree a younger person cannot see while standing on the iroko tree. It’s the same for coaches. Coaches are built with a vision for you and your business. They help build your strengths and see what you have been overlooking as your weakness. Coaches point you in the direction your business must be going. To hire a coach
Hire your business coach with personalities matching yours. This is someone you’ll be working with. And if he’s a hard-hitting coach and you are a sensitive one, you’ll end up arguing most of the time instead of working.
A values-oriented coach. A business coach valuing your values is invaluable. For example, my activism and empowering voice is something I wouldn’t love to lose in any product or material I sell online. I love to educate while touching lives. What if the business coach I hire isn’t into fulfilling the dreams and goals I have for myself.
Result-oriented. A business coach must help you get the results you desire. Not really by doing the work for you but helping you realise the innate potential you have to kickass. Don’t for a coach interested in a paycheck only with no results on your end. You’ll end up calling coaching and coaches a scam on earth.
In the end, while hiring a business coach, the work to be done is by you. You are the mantle holder of your dreams and desires and no coach or coaching service can help you get it from you. Hire a business coach not because they will help you do the work but because you are ready to work within yourself to get the desired help.
In order for you to make more money, you have to treat money as your friend. Money is an energy and whatever energy you put out there, is the same one that comes back to you.
You have to get clear on what you want by knowing how much income or investments you have. Don’t take failure personally as well. Failure is a stepping stone to greatness. Increasing your income also means being grateful for where you are at. By being grateful you are also attracting the best in your life.
In what ways are you planning on increasing/maximising on your income as a Kenyan business owner or freelancer?.