Not only was Wal-Mart a good move for the advancement opportunities, training, and raises…..it fits with becoming self-employed! I got the OK from the assistant manager that is over the department that I work in to go to 4 days. It will go into effect in about 2 1/2 weeks.
While I was waiting I got a weekly and monthly writing job.
I am focusing on my one day a week that is dedicated to self-employment, mainly writing.
These steps will be fine tuned for one day a week and later I will use the same process to add other days and later apply the same process to passive income. Income is the money AFTER expenses. With writing I don’t have hardly any expenses since I already have a computer. The only expense right now is the small fees that Paypal charges to do my payments through them.
THE STEPS OF PHASE ONE
- Return to writing (May 2008)
- Promote writing services (June and July 2008)
- Updated my writing services page on blog
- Put link in my signature on Wickedfire forum posts
- Wrote a package of 5 related articles with researched keywords and offered for sale on Wickedfire (sold in less than 24 hours)
- Helped other writers (3 threads started to benefit all Wickedfire writers)
- Received orders and delivered articles (July 2008)
- Added to iTrader of clients and received iTrader points (July 2008)
- Decided I had enough work to replace one day pay a week at wage earning job (August 2008)
- Brainstorming about other self-employment income to cover one day pay-photo taking idea (August 2008)
- Create secure income (Currently working on)
- (one day wage earning pay X 2) X 12 = savings needed before I repeat process on another day per week
- Have steady and regular income from writing that equals two days pay for 3 months
- Begin plans for secondary self-employment stream
I will have the income for that one day backed up by 4 other sources of income and a 5th one in the works.
Initial day of pay will be covered by the income from writing. This is how I will make sure I have additional income to cover that SAME day in the event any income fails or drops:
- Flexible/relief shift at a second wage earning job
- Enough article writing orders to cover twice what is needed to replace the income for one day at wage earning
- Savings that is equivalent to 3 months of pay from that one day
- Secondary writing income (pre-written article packages)
I will develop my photo business plan and test it out.
This provides 5 income streams for one day and another one in the works. I could loose any one of them and my level will not change. What will I do if more than one income stream brings in money? I will enjoy 1/3 of the excess income, save 1/3 of the excess income, and reinvest 1/3 of the excess income back into self-employment business development. Once I have 3 months of savings to cover that one day, I will move towards a second day of self-employment and repeat!