Unlocking a 24% Income Increase: My Strategies Revealed
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Chapter 1: March Income Boost
March proved to be an outstanding month for my finances. I implemented several changes in my business that yielded impressive results. In this section, I will outline my sources of income, the adjustments I made to enhance my earnings, and much more.
A 24% Increase in Income
As a business owner, my income varies from month to month. Although I don’t see myself as a financial guru, my decade-long experience running my own company allows me to consistently earn over $10,000 each month—more than I would likely make in a traditional 9-to-5 role. So, needless to say, I’m content, especially when my monthly earnings see a 24% increase; that’s a significant achievement for me.
For more insights on my income streams, check out my previous discussions. My creative endeavors—social media, content creation, writing—fuel my passion and keep me motivated. To mitigate risk, I diversify my income sources, ensuring that I’m not reliant on a single stream.
How can you achieve sustainable income growth over time? The answer lies in strategic planning.
- Define your goals clearly.
- Document them.
- Develop a concrete action plan that is both measurable and actionable.
- Take decisive steps towards your objectives!
For me, the focus was on expanding a few of my income streams by concentrating on two key activities: pitching more and working harder.
The Art of Pitching
First and foremost, I emphasize the importance of pitching. Whether you’re seeking paid writing opportunities, brand collaborations, guest posts, or podcast features, effective pitching can significantly boost your income.
Although it may seem daunting to cold pitch—reaching out to individuals who are unfamiliar with you—the potential rewards are considerable. For instance, if you pitch to 100 people and achieve a 2% success rate, that could translate to two new opportunities at $1,000 each, adding $2,000 to your bottom line!
In my case, I primarily pitch for brand partnerships. I identify businesses that resonate with my audience and propose paid sponsorships. The more I engage in this activity, the more revenue I generate. While I occasionally find myself slacking off, maintaining consistency yields the best results.
I even offer a course on how to effectively pitch for brand deals, should you be interested in learning more.
Maximizing Work Opportunities
I am fortunate to have several clients who provide a steady flow of work. For example, if I usually earn $1,500 from a client in one month, by reallocating my time, I could potentially increase that revenue to $5,000 the following month.
Although it requires a significant commitment of time and effort, the payoff is worth it. I prioritize my happiness over monetary gain, often opting for a smaller paycheck in exchange for more leisure time with family and for personal pursuits.
In March, I dedicated substantial effort, particularly towards the month’s end as I prepared for an upcoming trip, resulting in increased earnings.
Steps to Growing Your Income
How can you replicate this success in your own life? Here’s a simple roadmap:
- Set a clear goal.
- Create a detailed plan.
- Execute your strategy!
Consider diversifying your income streams. Passive income is particularly beneficial as it generates revenue even while you sleep. Some effective avenues include:
- Investing in rental properties with platforms like Arrived Homes (no mortgage needed)
- Creating an ebook or online course (like my own!)
- Establishing a membership site or paid newsletter (I use Substack)
- Engaging in dividend-paying investments (I recently joined M1 Finance and earned my first dividend!)
- Exploring affiliate marketing opportunities
Your Turn
What strategies or tips do you have for increasing your income? I’d love to hear your thoughts!
P.S. For those interested in my financial details, I share my income reports with paid subscribers on my Substack for just $5/month. Subscribers receive weekly newsletters covering social media, content creation, financial strategies, side hustles, and more. Click here to join!
Note: This article contains affiliate links, meaning I may earn a commission if you make a purchase through these links at no additional cost to you.
Chapter 2: Insights from My Financial Journey
In this video, I share how I managed to save 52% of my income in 2024, detailing my new savings goals and investment strategies.
This video provides an update on my financial milestones for 2024, covering my net worth, emergency funds, investments, income, and more.