Avoiding Pyramid Schemes
I don’t know how you feel, but whenever I’m approached about a “business opportunity” that is clearly a pyramid scheme I get sick my stomach. Despite being a nuisance, if you truly want to become a success story, you’re going to have to leave the ultimate pyramid scheme of all time...
Corporate America is the ultimate pyramid scheme. You’re paid a salary or hourly wage for your time, it takes years of work to move up the ladder, and more likely than not you’ll never become the CEO of the company.
Now, I’m not recommending that you quit your job tomorrow. It’s hard for us to leave a job where we’re comfortable in order to chase our dreams. So, I wanted to share some quick ideas so that you can leave your corporate job and follow your passions.
1) Double the Amount of Money You Save
Cash is king! If you’re going to get serious about leaving your desk job to pursue your passions. You’re going to need cash! Don’t get caught up in the hype of investing the extra money you don’t have, but focus on building your bank accounts up to levels where if you quit your job tomorrow, it wouldn’t worry you at all!
2) Start your Side Hustle Now
Time is money! I don’t care if you only make an extra $5/month for your side hustle. You need to start early, build a following so that when you’re ready to go all in everything will be rolling on all cylinders.
Not sure how to start your side hustle? Talk to a tax professional to discuss possible tax benefits for starting your own business. You want to talk with someone who is either an EA (Enrolled Agent) or CPA (Certified Public Accountant).
An Enrolled Agent will most likely charge you less than a CPA since they’re credentials aren’t equal.
3) Be Patient
Nothing happens overnight. Building a business is hard work, tests your will, and you will question your abilities. If you are following your passion and not the money, then your heart is in the right place.
I’ve been working on “The Millennial Slacker’s Guide” for over 2 years now and haven’t made a dime. The reason why I’m doing this blog is to help you with adult subjects so that you don’t get taken advantage of. In return, if I show you enough value, I believe that when you need help, you will reach out to me.
Joshua Krafchick CRPC®, EA