Persistence – The Key to Getting a Second Job

Mar 19

At last! I have found a second job. In a weekly update a few weeks ago, I discussed an interview I had for a potential bookkeeping position. Even though the interview went well and I thought I landed it, they decided to go with someone with more flexibility in hours. Since I have a typical day job, I would not have been able to complete the work until after 6pm on week days, which is a tough sell. I was disappointed in not getting the position, but within a couple weeks, a new bookkeeping position was listed on Craigslist. Since then, I have had lunch with the gentleman and we both have decided to proceed forward.   The Second Job  I will be providing bookkeeping services for a real estate agent. Additionally, I will help with advertising and provide ROI analysis on each medium. We will have bi-weekly updates on the business and ensure it is on track to hit its goals.   The Compensation The flat fee we decided on was $150 per month. I estimate my return on my time will be low during the first few months, but then pick up as it becomes more automated. In addition, I will complete his taxes for an additional fee. Any other projects outside of the agreement will be billed separately. In total, I estimate the value of this is ~$2,000 per year in gross income. This is a HUGE win for me and a great way to get my foot into the door to do bookkeeping for small businesses to expedite my financial independence....

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Why Every Young Professional Should Consider a Second Job

Jan 31

Being exposed to the white collar world since my first internship in New York City at the age of 21, I cannot remember anyone having a second job outside of the professional world. Some may have served on boards of charitable organizations or volunteered, but I never met anyone that actually held two jobs. It’s weird. When I was in high school, I had more than one employer and that was completely acceptable. During the summer, I primarily worked with a sole proprietor landscaper five days a week. Then a few nights a week and weekends, I worked at a trap shooting club. Both employers knew I was doing this, and both were accommodating and flexible. I never thought of this back then, but I was essentially diversifying my income.   Secondary Job Ideas My college and post-college roommate had a small side business stringing racquetball racquets. He played on a regular basis, had the equipment, and had the connections. Based on what I saw, it took about an hour or less to string a racquet, making the hourly rate pretty decent for a young professional. I don’t think he ever made more than a couple hundred dollars per month, but it was still something. Then I met Ms. Red to Riches. In college, she used to teach figure skating after performing for the majority of her life. Once she began her professional career, the teaching stopped and she focused on climbing the corporate ladder. After many discussions on how much she missed it, she made the leap and got recertified. Now she has been teaching skating at the local ice rinks for over 6 months. It’s a great opportunity and an example of a side job that wouldn’t pay your bills, but it does move the needle. Ms. Red to Riches is grossing about $500 per month. With her primary expenses being membership fees, liability insurance, and gas, she still is netting about $400-$450 pre-tax per month.   Lesson 1: Leverage Your Skills You Already Have One thing both of the above side jobs have in common is that they leverage a passion and the skillset already exists. My roommate had been playing racquetball at a very young...

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