Many of us were taught to do well in school, get a great job, work hard, and you’ll eventually make a lot of money. This may be true, but there is a great limitation to working by yourself. Time. There are only so many hours in a week. No one can buy or create more.
all solo stylists suffer from this limitation. The average natural hair stylist makes a decent salary, but there aren’t many that make over 6 figures a year. Every hair stylist is swapping their time for money. They only get paid while they are seeing clients. They can’t see more than one at a time and they can’t see them while he’s asleep. The clock ultimately limits their income.
If you want the opportunity to make a tremendous amount of money, it’s important to find ways to earn without your presence being necessary. Free yourself from the clock and your ability to earn is unlimited.
There are better ways:
1. Get paid more than once for the same work. Think about artists, authors, and musicians. In their respective businesses, they’re able to get paid repeatedly for the same work.
· An author can write a book and then sell a million copies over the next 10 years. During that time, she may have written 20 more books. What could be better than getting paid multiple times for the same work?
· Maybe you can write a serious of hair care books.
2. Do something that allows you to receive recurring payments. Leasing salon booth space out or suites to others keeps money coming in while you do other things. Building a website that has a paid membership for your clients where you offer unique content to assist them in caring for their hair can bring in big bucks.
3. Be an investor. The great thing about stocks, bonds, mutual funds, and similar investments is the ability to make money with little work on your part. Find stocks that are in the beauty or hair industry. You’re essentially making money while you sleep. You could also loan money to others in the natural hair or braid industry.
4. Outsource / dropshipping. Many people set up businesses and then outsource all the work. This is especially true online. For example, there are people that sell natural hair products or hair. These same people then hire someone else at a reduced rate to do all the work.
· Can you think of ways to make money from the work of others?
5. Create passive income. A website that sells an affiliate product can make money while you sleep and is a form of passive income. It’s not difficult to build a website that makes a mere $5/day, but keep in mind that’s over $1,800/yr.
· Make a list of other ways you can make money passively.
Time is a limitation for all of us. So far, no one has lived forever. But time doesn’t have to limit your income. Many natural hair stylists, braiders, & locticians are paid well, but you have even greater financial potential if you can break free from swapping your time for money.
Uncertainty stops many people. If you write a book or create a website, you’re not guaranteed to make any money at all. If you go to your job, you can expect to get paid on a regular basis. Courage and persistence are required.
Get started today and build an income stream that isn’t dependent on your time or presence. You’ll enjoy getting paid while you’re not at work!