I work with lots of people who have challenges when it comes to income. I am a career coach. But I think of income coming from three main sources – traditional employment, business, and knowledge.
Employment
As a single parent a regular job may or may not provide enough income, especially if your availability is limited. And if you don’t have dependable support it can be difficult or impossible to hold a second job. So you need to maximize your earning power by leveraging your strengths and finding the most lucrative work that really takes advantage of what you know and love to do. You may want to think of your job as “venture capital” for other activities that can boost your income.
Business
The second method is to own a business. Most if not all of the wealthy people in any country are business owners. Why? Because they pay other people to do the work and get to keep more of what comes through the cash register. Of course many typical businesses take a large investment upfront to get started. And others can be borderline schemes that suck up your spare change with rosy pictures of endless cashflow. However there are many other non-traditional businesses that you can start with little money and grow with time.
Knowledge
The third basic way to make money is with your knowledge. Right between your ears is a treasure chest of information that other people need and value. The trick is in creating an easy way to get that information to them and collect payment.
The internet has made this a much easier task than ever before. Take this website for example. It is a great way to share information, connect people, and make money through ads and sponsors. There are other ways to use a website, blog or even Twitter to sell information without spending a lot of money to get started.
MSG – the secret ingredient of finding your passions
But before you get to the starting line for a job, a business or selling information you need to know what it is that makes you different. Marketers call this your “unique selling point.” I call it your “MSG.”
It is no secret that people do better and are more successful when they are using their innate strengths, gifts, talents in their work and in life. We tend to put more effort into things we are passionate about and are more likely to persevere when engaged in a passion.
Strengths
So how do you discover your strengths? One way is to look at the things you do effortlessly or are passionate about.
Write down a list of the things you do that seem to be automatic. These are not learned skills like typing or welding. It could be something like cooking or writing, helping others solve problems or designing and creating things. Do you make up stories or entertain people with ease? Ask your friends and family what they see as your special gifts and talents.
Now think about the things that make you sad, mad or glad. What brings tears to your eyes? What really ticks you off? What gives you joy and puts a smile on your face? That is your “MSG”, the secret ingredient to finding the best work for you.
When you identify these MSG’s you run them through the filter of employment, business and knowledge. What are some ways you could get a regular job doing XYZ. How could you start a business to offer XYG. Finally, how could you share your knowledge about XYG.
Let’s say you are a whizz at crafts or woodworking. Now blend that with your passion for children in hospitals. You could get a job in a hospital gift shop or with a charity that provides gifts for children. You might start such a business to make and distribute craft kits or wooden toys to hospitals, gift shops and charities. Or perhaps you could write about these craft ideas and sell the books and plans on your website. You could create “how-to” CD’s and DVD’s or have a subscription newsletter.
Whatever route you choose, you have lots of options that can provide additional income, independence, and security for you and your children.