Monday, February 28, 2011

Increase your own income

Whoa! Saw this news splattered on the Star newspaper front page saying, "Big Pay Hike". Wish it was so. Mine was just a meagre 0.9% increase in comparison against the benchmark done by Robert Walters Global Salary Survey for 2011. Although their survey indicated a sharp increase of 5% to 30% increase for many of the professionals, looking at my category I'm nowhere near that increase nor earning that income range. Perhaps some would say I should be working harder or carry the balls of my superior more or whatever. Well I've been working for a very long time and I found I like to call the shots to get things done. So working for someone else does curb my ability on my decision making.

Robert Walters Global Salary Survey 2011
Note: Rate RM3.056=US$1

So to enjoy some freedom in calling the shots the best way to go about it is to start your own business. Now, how fast you can pull yourself away into becoming your own boss will depends on your network of contacts both suppliers, customers and business partners. And that takes work.

Another way to improve your chances at least on the customer side (well you do need a good customer base) is to make a business website to draw in the prospects. That's why there are so many "no more cold calling" books out there! I certainly don't really like cold calling because the success rate is so low. Best is to pull 'em in than push out to 'em. That's right!

One of the best I way I found so far is to use the Site Build It! or SBI for short. You can use this in many ways. You can just let to earn passive income or use it to passively draw potential prospects. With the initial hurdle down you can now get to business to follow up on your prospect and turn it into sales.

Anyway, I'm taking a new step and new direction for year 2011. It is not easy to create new source of income when you have not been doing it. I have been at it for about 5 years now and the feeling is that something is beginning to move as I move out of my comfort zone in doing my own thing. My objective is simple, achieve a consistent income that is equal or better than my current salary as that should cover all my living expenses. At this moment I'm getting about a third of what I'm drawing so two-thirds more to go!

That reminds me some of the SBIers who also face this kind of situation. Some even have to drop out of their current job without achieving the equivalent of their salary due to one reason or another, but knew that eventually they can hit the equivalent and more as dropping out of their day job provide them with more time to concentrate on their web business.

Everybody has to start somewhere so have a look at the first day of the rest of your life and see if it fits into you.

Meanwhile I'm just looking at the salary survey of 2011 and know that what I will get will be based on what I will give myself rather than hoping on the crumbs that would be received from the powers to be.