Work with those companies and not your local businesses.
Don't work on small businesses work on the companies where
they'll have six social media managers all getting paid to
60k year do that instead.
You're missing the boat.
If you're working with these local businesses that can't
afford you.
This is three ways to increase your income everyone at some
point in their life has thought size of my income solo, huh?
Why am I so broke?
What's going on there?
Why can't I pay for the The things that I want to pay for
What's Happening, huh?
I have gone through phases where I have been broke the most
broke.
I was was when I spent all my money on making an indie
film and the head $20 left in my bank account and then had
to wait for my next paycheck coming in from my company's
but I've had minimum wage jobs.
I was a delivery driver for Jimmy John's and I'm an entrepreneur
which first couple years as an entrepreneur.
I was not getting ahead.
The fee for my services so my income has been pretty low
at various points and consistently I've been able to boost
that income up.
So what are you supposed to do if your income is too low,
how do you get your income to be higher?
How do you do that?
Let's talk about three ways to increase your income.
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With figuring out why your income is so low.
Do you have a minimum wage job.
Is that the problem you need to get a Baseline and figure
out why you feel like your income is not high enough first.
You need to be brutally honest when I was in a bunch of debt
it was because I was staying in hotels full-time.
I didn't have an apartment and I was spending thousands of
dollars on hotels and eating out.
I didn't have a kitchen.
So I was spending an insane amount of money.
But what was interesting is I was lying to myself the entire
time pretending to myself like I could afford it and it was
only by taking a Baseline and figuring out what I actually
was spending and it was atrocious way higher than it should
have been it's only when you stop yourself and realize how
much you're spending that you're able to stop it.
So that's the first thing not the first tip not the first
way to increase your income, but knowing where you stand
is so important for figuring out where you're going to go
financially now once you've identified that you actually
need more money, here's how to do it.
Number one is get a higher paying job if your minimum wage
or you work at an hourly position go get a salary job as
soon as you possibly can and I know I'm saying that like
it's easy because it is easy check out our video on how to
book a job interviews the skills that you need in a minimum
wage job.
If you're smart enough to find these YouTube videos and understand
the words that I'm saying right now.
You're smart enough to have a salary job and there's no reason
that you should be a bartender or a waiter or anything like
that if you want to make more money those jobs also, Drain
you physically and make it harder for you to work on your
business.
So get out of the service industry as quick as
possible and move to a salaried position as fast as you possibly
can get that higher paying job and then use that extra income
to make yourself financially free you're now making more
money.
So now you have money freedom and time Freedom.
You're not being worked to the Bone at some minimum wage
job, and now you can work on your own business and it's much
less stressed.
Just don't fill the extra time with Netflix.
Sir video games or something like that even hanging out with
friends.
Don't fill that time up use the time you normally
would have spent at your minimum wage job cranking it out
to Now work on your own business.
That's exactly what I did when I started my business.
I got a salary job in New York City working as a junior sales
guy eventually became director of marketing and I worked
from 7 a.m.
To 9 a.m.
Every single morning for a couple months on my business and
that's all it really took then I was able to replace my income
and get out of there.
You might be grinding for a Of years follow the course email
10K because it has the exact steps that I went through and
that our coaching clients go through to escape in a couple
months instead of a couple of years, but it's very possible
that if you just change the work habits a little bit you
can get your business going and you can get out of that salary
job very very quickly and it doesn't matter what the economic
situation is in the real world.
This is even true for entrepreneurs if you are working on
your business and you've been trying to make money for a
very long time and you're still just scraping by and you
don't really have A business that's working.
Maybe you're living with your parents still getting a job
and learning a new industry can be incredibly helpful when
I left the cold calling Company New York to try and start
my Consulting business the first time it failed because I
didn't understand business enough.
Then I started as a junior sales guy at that agency selling
mobile apps and after a year, I knew enough to start my own
successful company.
That was it.
So it's not like getting a job as the ultimate defeat.
You might just ride a job for a year.
Learn everything you need to know and then start your own
company and be in a much better spot because of it.
The number two way to raise your income is to work with clients
that pay more if you run a business already and you don't
want to get a full-time job.
This is your tip.
Let's say you sell marketing services like we do at X 27th
and you sell to local businesses that will only pay you between
five hundred and a thousand dollars a month or social media
Services.
Well, if that's you let me shatter your mind really
quick a social media manager at a major Fortune.
500 company makes five to six figures a year for that.
Same exact job that job that a local business is paying you
500 dollars for Chick-fil-A is paying 70k year for how do
I know?
I actually used to run social campaigns for one of the largest
chicken manufacturers in the United States and they had half
a dozen social media companies running their campaigns half
a dozen on all of their different brands each.
One of these was making $50,000 plus per year work with those
companies and not Local businesses don't work on small businesses
work on the companies where they'll have six social media
managers all getting paid to 60k year do that instead.
You're missing the boat.
If you're working with these local businesses that can't
afford you.
I was doing the exact same work for the Fortune 500 company
that you are doing for a local pizza shop and yet I'm making
10 times more.
The only thing that's different.
Is that company that I'm working for can afford to pay ten
times more.
That's literally the only thing so if you change the company
that you're pitching saying you don't pitch the pizza shop
you instead pitch Chick-fil-A or whatever Chick-fil-A wasn't
the company.
I was working for this just an example.
Then you will be making more money for the exact same job
level up your clients to level up your income.
This is covered in the course email 10K check that out at
email 10K.com number 3 is cut costs and focus on profit.
I put this lower on the list because the other two are much
more high impact for newer entrepreneurs, but let me tell
you a story a couple of years ago me and Robert my We had
a seven-figure agency were making over a million dollars
a year with our marketing services and yet the profit that
we pulled off of a million dollars was low.
Of course, we're making about double what the average American
makes but still that's not very much money at all.
It also put us at risk for recession or for the market falling
apart because we didn't have a war chest.
We didn't have any money saved and we were always scrounging
at the end of every month a very very dangerous place to
be in as we've seen from you know, what happened in the news
the economy can collapse At any moment, so you always need
to have at least 90 days of cash in the bank and we weren't
there a couple of years ago.
Anyway, we realized this is because we Outsource too much.
We were paying for sales teams for implementation project
management.
We had so many people in our team.
We were so heavy that our costs even though we're making
a million dollars plus in Revenue our costs were so high
that me and Robert were barely getting anything and it's
not like the team was working a hundred percent of the time.
That's what we figured out.
The team was getting paid because they were all on salary
whether there.
You're not and there was a lot of wasted time and thus a
lot of team members that could be cut.
So we were lighting money on fire.
This could have been profit.
This could have been a war chest and yet we were spending
it on people that weren't working at a hundred percent capacity
and it was only by cutting all this dead weight that we could
make a profit that we were happy with and now we're super
profitable couple years later.
We're taking over a 50% margin on all of our products and
sometimes much higher than that.
You need to think about where your people can best be used.
E used cut salaries fire people that aren't working and check
your numbers to avoid spending so much and I know that sounds
kind of odd in these times, right?
Why am I telling people to fire other people?
Well firing them will allow them to get a job that works
for them one but two by firing the employees that aren't
working you provide a tremendous amount of job security for
the employees that do work.
I did a podcast a while back with Mike michalowicz, who is
the author of profit first.
You should check that podcast out.
Link to it down below.
It's all about taking profit out of your company as the first
thing and then paying expenses after that which if made Robert
we're doing that.
We wouldn't have even had the money to hire all these people
we would have seen it way earlier the three ways to increase
your income are get a higher paying job work with higher
paying clients and cut your costs.
Thanks for watching the video.
I'm Alex Berman subscribe to this channel for more content
like this like this video to encourage this type of content
check out our course email 10K, if you want to grow your
company leave a comment down below.
What do you think?
Think of these tips.
Let's get a conversation going.
Thanks for watching.
I'm Alex vermin.