How to increase your income

How to Increase your Income this year

Summary: Increasing your income can lead to more freedom, more choices and more stability.

Why not live a life where you are less stressed, are able to do the things you want to do and are not stuck just getting by month to month?

Here are some great tips to help you increase your income:

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Step 1: Set yourself income goals and have an income plan

At the start of each month, write down the income you want to achieve that month.  Then decide what you need to do that month to reach your target. Write out the action points that you need to achieve.  Break these action points down into steps and write down in your calendar when you need to achieve each step by.  If you want to achieve more income as an entrepreneur, you need to do what it takes.

For example, if having more income means increasing your sales, then create a realistic and achievable step-by-step plan to actually increase your sales.   

Step 2: Prioritise income actions and profits

The things you focus on are the things you will achieve.  When you decide on the tasks you are going to focus on each day, each week and each month, make sure that the top three of these tasks are income producing activities that you do consistently. 

If you keep doing all the non-income producing tasks, then you simply won’t have any income.  Also keep asking yourself if what you are doing is going to lead to a profit and not just cover expenses. 

Step 3: Do things differently.

They say doing the same thing and expecting a different result is the definition of insanity. If you are not making the income you want to make, ask yourself why and what you should be doing differently.

Try doing something completely new to ensure you get income coming in. Don’t be scared to cut your losses if you have been doing something for a long time and it has not made you enough income.  

Step 4: Increase the value of your time

No matter who you are or what you do there are only 24 hours in a day. It’s what you do with those 24 hours that determines how much income you make. So learn how to replicate your time. In other words, learn how to create something once and then duplicate it so that you can sell it many times over. 

Also make sure you invest your time wisely. If a project is not going to bring rewards, rather invest your time and energy into projects that will. 

Step 5: Surround yourself with the right people

If you are not making the income you want to make, try looking at the people you have surrounded yourself with. If the people who play a big role in your life are all not generating enough income, then chances are good you have just become another one of these people.

Surround yourself with people who are willing to work hard and take chances to increase their income, be willing to learn from them and soon you will become one of them. 

Step 6: Stop making excuses and shifting blame

If you want to earn more income you need to take responsibility for your life and for the actions you take to achieve your goals. It’s not anyone else’s fault that your income is not where you want it to be. Start taking action today!

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About The Author

Lumka Khaile

Lumka Khaile, is a money coach for smart, career advancing and accomplished professionals and service entrepreneurs that want to earn their worth, create wealth and won’t settle for less. Contact: lumka@wealthsagecoaching.co.za

  • Kathleen Spencer

    If you want more income you need to work hard and do what it takes. I work on weekends and I make a lot of extra income each month.

  • Thembisile

    I really want to make more income every month. Thank you for this valuable article.

  • Jacques du Plessis

    This is a hard hitting article that makes you think.

  • http://www.vukanisekusile.co.za Isaac

    Thank you for this information

  • Cebo Mzanywa

    Thanks a lot for this article its heart bubbling