How to Replace Income with Online Business

How to Replace Income with Online Business


Welcome back to Creating Coins. Where we talk about money and mindset for
entrepreneurs. Today we’re talking about how to replace the
income from your job. When I worked a nine to five, I really, really,
really, really, really, really did not like it. I was never cut out for a cubicle life. I felt like it just wasn’t it wasn’t for me
and you might feel the same way, but I just felt really, really constrained. OK. So my number one goal was to leave the corporate
world as soon as possible and the way that I did that is what I’m going to share with
you today. So if you’d like to leave your full time job,
one of the first things that I would recommend that you do is to write down all of your expenses. This is exactly the step that I took. I wrote down all of my expenses and I try
to eliminate as many expenses as possible. Then what I did was I squeeze all my expenses
into just one paycheck for the month. So that meant that one paycheck was completely
free. No obligations, nothing that I had to pay
with it, and the other paycheck was all of my expenses, so all of my rent, my car with
my credit card is like all of that, and when I tried to do that, the first time it wouldn’t
fit. It wouldn’t fit all on one paycheck, so what
I had to do was I had to accelerate my debt pay off, and I started paying off my car loan. I started paying off my credit cards because
I knew that once I got rid of those, I was going to be able to fit all my expenses on
that one paycheck. Once you fit all of your expenses onto one
paycheck, then you can move on to the second step, which is saving and entire paycheck. So this is a radical idea for most people,
but if you can put away 50 percent of your income, you’ll have a nice cushion that will
allow you to leave your job that much faster. So we’re not even talking about the business
yet. First we’re talking about getting your own
personal financial house in order. After I saved up about six months worth of
expenses, I felt like I was ready to leave my job. For some people that might be one year. For some people that might be saving 18 months. It’s whatever it is for you, and once you
do that, the third thing in order to replace the income from your job is to start looking
at your business like a business instead of a hobby. Instead of a side project, instead of a hustle,
started looking at it like a business. Start putting systems into place, figuring
out where, what your business model is, where that revenue’s going to come from. And if you need help with any of this, then
you’re going to want to join us inside of the Creating Coins Community because that’s
exactly what we do there. Inside of the community. I’m helping you and all the other entrepreneurs,
we’re helping each other turn ideas into income. They were talking about business models were
talking about, um, what system to use and all of those things, especially that someone
who is a solopreneur needs to do. Remember, all it takes is action to turn your
ideas into income and that’s Creating Coins. I’ll see guys the next one.

3 thoughts to “How to Replace Income with Online Business”

  1. 'Really, Really, Really…' lol, yep. Some great advice on getting ready to start your online business and getting things in order. You can always slowly work into a side hustle with a few hours a week to build up the income before having to rely on it to pay the bills.

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