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Learning how to brand $100,000 a year is a common goal for many — and why wouldn't it be?

The half-dozen effigy number is a milestone that would put your earnings well across the median household income in the United states, and potentially beget you lot with a more than comfortable lifestyle.

Simply how do you go there – particularly if yous're making nowhere near this number at present?

Ways to earn 6 figures a year:

There are many ways yous can get to earning vi figures a twelvemonth. The two most common ways are:

Getting a job that pays six figures a year
Starting a side hustle and scaling it so you're eventually making six figures a year
A combination of the ii above strategies

None of these options are piece of cake, and they will likely involve sacrifices and sweat disinterestedness. But leveling up your full time chore and scaling a side hustle are exactly what we specialize in at IWT. The following systems accept worked for thousands of our students successfully, and with time and effort, you could be on your way to earning 100k in a twelvemonth.

What Does a Half-dozen-Figure Income Actually Look Like?

You need to brand at least $100,000 a year if you desire a six-figure income. That ways making at least:

$eight,333.33 a month, or
$2,083.33 a week, or
$416.66 each workday, or
$52 an hour.

Breaking down your larger goal into smaller increments will aid you sympathise what it will have to become where you want to become. Tin you land a full-time job that pays $52 an hour? Or can yous freelance for that amount?

It'due south important to figure out where you are now compared to these benchmarks if y'all desire to reach your goal of 100k/twelvemonth.

How to make $100,000 a year in 5 steps:

Step i: Set up your Tripod of Stability
Stride two: Earn more coin in your career
Step iii: Discover a side hustle
Pace 4: Get your first customer
Step 5: Invest in yourself

Let'due south get started.

Pace one: Set up up your fiscal foundation

When you have a goal as ambitious as "I want to earn a six-figure income," it'south piece of cake to lose sight of the actually important things in your life.

I'm talking near the basics: food, water, shelter, etc.

This is the "Tripod of Stability" — all of the foundational, big aspects of your life that you keep ultra-stable then you lot can take risks in other areas.

"I'm a proponent of part of the Tripod of Stability," says Naveen Dittakavi, founder of NextVacay.com. "If you take a day job, you demand to ensure that it'southward stable. Yous have to carve an ability to work on your side hustle while doing dandy work at your day job."

He continues, "I lived at home for six years. My parents were really absurd and helped me go by while I built out my business organisation."

Naveen recently scaled his hustle so that he'll be taking abroad roughly $1 million this year (so you know he knows his stuff).

Past taking care of your big things — your home, auto, relationships, nutrient — yous'll exist able to have risks in areas similar your side business. Equally Ramit says, when you lot have your bases covered, you're not really taking risks at all.

Your Tripod of Stability doesn't necessarily mean that you're gratis of sacrifices though. If you desire to devote yourself to making half dozen figures a year, yous're going to take to change some of your habits and beliefs.

"I sacrificed a lot to build my business," Naveen recalls. "After all, living at home with your parents for six years ways yous're going to be single for half-dozen years — BUT information technology gave me what I wanted out of my life."

Activeness step: Identify your Tripod of Stability

Write down the three chief "legs" of your Tripod of Stability. These are the things that, if they remain constant, would allow you to weather dramatic changes in other areas in your life. It could be things like:

Your domicile
Your machine
Your job
Your spouse or partner
Your savings account

Once you lot know what makes up your Tripod of Stability, you tin brand sure you have those areas secure so you can commencement taking risks in areas like starting a side hustle.

If y'all're worried about your personal finances, you can improve them without even leaving your couch. Cheque out my Ultimate Guide to Personal Finance for tips you tin can implement TODAY.

Step 2: Earn more than money in your career

If y'all're looking to build a six-figure income on freelancing with your side hustle alone, you tin can skip this step.

If having a task is one of the legs for your Tripod of Stability, though, you're going to want to maximize your bacon as much equally possible.

Why? The more than you earn, the closer you'll become to your beginning six-figure twelvemonth. There's no better mode to do that than to negotiate your bacon.

Bank check out this chart that shows how much a $5,000 increase in bacon can add upward over the years:

How much negotiating a $5000 raise will get you over 40 years

Not only is it a BIG win, but it also sets you squarely on the route to earning more than after just one conversation with your boss.

And the first step to exercise this is really straightforward — just many people even so forget it: Practise good work.

"First and foremost, you have to deliver great results," says IWT reader and six-effigy earner Enoch Ko. "Without results, no corporeality of networking or relationship edifice tin get you lot [to six figures]. That said, you accept to build proficient relationships at work along with delivering cracking results."

"Results and relationships get hand-in-hand," he continues. "In one case I had proven myself to be a Elevation Performer, higher bacon was simply a matter of time — having regular salary discussions with my managers and skip-level managers, working out timing with the corporate planning cycles, etc."

Once you prove yourself to be an invaluable asset to your company, begin to build two of the most of import tools at your disposal: your network and your observations. Enoch made such an impact he eventually moved on to another office that he was referred to by … his current director.

"It was through building good, trusting relationships through delivering peachy results that helped," he says.

One matter that can have a HUGE bear upon on salary negotiations is showing yous can add even more value in the future.

A great way to do this is simply by asking questions of your director:

What's something that yous would like to meliorate within the visitor — and how can I help?
What traits do you lot value the most in a new hire?
How can I help with your most important goal this quarter?

Non only will this show that you lot take initiative only it also gives y'all insight into exactly the kind of talking points that volition grand slam your bacon negotiation.

One of the biggest fears of job seekers is not knowing what to say in an interview. Find Your Dream Job includes word-for-word scripts and breakdowns with real hiring managers and so that y'all can nail your next negotiation. Click here to learn more than.

Action stride: Prepare for your salary negotiation

Cheque out our resources all near how to prepare for your salary negotiations. A few great places to start:

The Ultimate Guide to Getting a Raise and Boosting Your Salary. The definitive guide on how to enquire for the raise you deserve.
How to utilise Natural Networking to connect with anyone — including the verbal e-mail scripts. If you think networking is sleazy or scammy, it's because y'all're doing it wrong, or worse – you lot're preemptively shooting it down out of fear.
Master Course: Negotiating Salary. IWT founder and NYT bestselling author Ramit Sethi walks you through the verbal tactics, scripts, and systems y'all should use when negotiating your bacon. If you want to learn how to make $100,000 a yr, this is a great identify to start.

Stride 3: Observe a side hustle idea

This is the number one bulwark holding people back from creating their side hustle.

Afterwards all, you're looking for something that's profitable and that you lot're passionate near.

And the Venn diagram between those ii things oftentimes seems similar ii separate circles.

Luckily, you already have profitable skills already. That'due south what Christina Nicholson of Media Maven realized when she left her job after years of experience as a television news reporter and started working for a PR agency.

"Like many people, I didn't take a neat boss," Christina recalls, "and more attention was paid to the hours I was sitting in front of my desk in the role instead of the quality of work I was executing."

That all changed when one day a client came in to pay his servant and Christina discovered that it was more than what she made in ane month.

"That'due south when I realized I could practice all the piece of work AND go along all the money," she says. "I didn't need to work for someone who caused me unnecessary stress. I didn't need to get vacation approved or exist on the receiving finish of an mental attitude when I needed to leave the office early on because I had a ill child."

She continues, "I could also do other things, like host local and national TV segments on a freelance basis."

So she began to build out Media Maven, her hustle to help other businesses get a handle on their PR. "After starting my business," she recalls, "I saw what was possible and information technology motivated me, even more, to learn more about entrepreneurship and take things to the next level."

That's not the simply way yous can find a profitable freelancing idea either. If you are at a loss for where to kickoff, check out the xxx proven business ideas in the PDF beneath. As you lot scan the list, recollect about how you might utilize these ideas to your current skills and hobbies.

Click here to receive your very own PDF of the 30 proven business ideas.

For now, just choose one business concern idea. It's okay, you tin always change it later. For now, we're going to just attempt one out and try to find a client with it.

Step 4: Get your first client

In order to get-go earning money, you need to find the people who will give yous money for your ideas.

But the question is … how? Where practice yous observe these people?

Naveen's tactic? Offering mouthwatering value.

"I was really involved in a lot of entrepreneurial aspirational groups," he explains. "So entrepreneurs would hang out there and I would detect ways I could add together value. I wasn't trying to pitch or close deals. I would merely say that I had a estimator science caste and, 'I can help you lot clarify your vision and understand what it takes to build it out.'"

"I've e'er been helpful," Naveen continues. "I started to find that being helpful to other people builds trust and will upshot in sales. I was in a position where in that location was limited talent to execute tech projects and there wasn't a lot of people to aid aspiring entrepreneurs."

Past doing this, Naveen did two very of import things when it comes to finding clients:

He went to where the clients lived. Past going to exactly where his target market hung out, he was able to build a network of potential clients and people he could assist.
He offered astonishing value. Naveen recognized an opportunity to show his potential clients that he was the man to assistance them. This value-add helped him gain his first few clients.

Yous can do the same thing.

Inquire yourself:

Who is my client?
Where do they go when they want to look for a solution to their problems?
Where are they ALREADY looking for solutions to their problems?
How tin you lot connect them to your service?

At this signal, you're besides going to want to niche downwardly your target market place in order to actually tailor your services and draw in customers. And so think about who's an instance of a client who might want to purchase your product.

A few questions to jump-start your research:

How old are they?
Where exercise they live?
What are their interests?
How much exercise they make?
What books do they read?

Using this information, find out what your clients demand by going to the places they go.

For case:

Looking for physical or massage therapists within fifty miles of your firm? Yelp should go you started easily.
If you want to do big domestic dog grooming and sitting, well there's probably a local pet shop or dog park near you where owners are all congregating just waiting for you to offer them a solution.

Here are a few suggestions of some other great sites freelancers can utilize to find business organisation online:

Writers: MediaBistro.com, Upwork.com, FreelanceWritingGigs.com
Illustrators/designers: 99designs.com, Designs.net
Programmers: Toptal.com, SmashingMagazine.com

One time you find a potential customer, you lot're going to desire to reach out to them and pitch your services.

Building a concern, including a freelance concern, tin be complicated. In Earnable, nosotros've broken downwardly the unabridged process. It's been proven over 15+ years, 50+ industries, and 42,000+ paying customers. It'south a complete system — you get all the exact strategies, frameworks, easily-on tactics, real-world examples, mindsets, done-for-you lot templates, word-for-word scripts, and hard-won breakthroughs to start and abound your ain concern. Click here to larn more.

Action footstep:Notice a customer and email them (with scripts)

Observe your customer using the data I've outlined higher up. Allow'southward say you are a video editor looking to selection up some side work. Hither's a handy script you could utilise (merely supervene upon the "video editor"–specific stuff with your skill):

Customer'Southward Proper noun,

I saw your post on 10 and visited your website. I noticed that you've recently started using videos too.

I've been doing video editing for 3 years and I'd like to offer to help you edit your videos and go them optimized for the web.

That would make them expect more professional and load faster, which is important for your readers. And you'd gratis up fourth dimension that y'all could utilise to create new content.

We tin talk over the details, of course, simply first I wanted to run into if this is something yous might be interested in.

If so, would it be okay if I sent y'all a few ideas on how to help?

Best,

Joe Case

A few takeaways:

There is cypher fat in the pitch. Every word counts and is needed to help actually sell the benefits of working with you.
Don't mention payment. There'southward nothing that will kill a potential client'southward interest in y'all more than pushing prices on them before they're prepare.
Stress the benefits. This email shows the customer why it would be in their best interest to buy from you in the third paragraph.

Once you become a client using this email, congrats! You just secured your start customer — but it doesn't terminate there. You need to actually practice the piece of work for them, and that means continually calculation value.

"Being super enlightened of how you can help people and how they perceive you and recognizing that money volition come if y'all're valued by your audience helps most," Naveen explains.

Need to find a way to work from home? Download my Ultimate Guide to Working from Home to larn all of my best strategies for the short term, AND the long term.

Step 5: Invest in your finances AND yourself

Investments tin can take all shapes and forms. Let's walk through three areas where you tin can start to invest when it comes to building out your six-effigy life.

Investment #1: Personal finance

This is IWT'due south bread and butter. We have all-encompassing resources when it comes to personal finance. It's also a very of import leg anyone should have on their Tripod of Stability.

The easiest style to become started ensuring your personal finances are in society is by automating your finances.

This is our system of sending your paycheck where it needs to go each calendar month (utilities, rent, jail cell phone bill, etc.) and so you lot don't have to worry about it.

"Being financially bourgeois, I have also automated my greenbacks menses so that I automatically have savings and investments," Enoch says. "I enjoy non having to think about savings and investments. I enjoy being able to spend money without worrying whether I'd have enough cash to pay for the highly cyclical quarterly gas nib or bimonthly electricity neb when they come."

"Automation is incredibly important," Naveen says. "At the time I was drawing a wage from my day job, information technology was helpful to put my trust in a organisation that made sense and would work out in the terminate. At the time, I was putting cash away in my ING Direct business relationship and my sub-savings accounts. I was able to see that number increment and I saw it worked really well."

Automating your finances merely takes one to two hours at the nigh, but once you set it upwardly, yous don't have to worry about it again. It's definitely a fundamental function of how to make $100,000 a yr.

AND it'll relieve you thousands of dollars over your lifetime.

Investment #2: Your side hustle

If you want to know how to make $100,000 a year, you're going to accept to hustle hard. That means you're going to reach a point in your side hustle where yous're going to have to put back some coin into it if you want to grow.

That could take the form of hiring employees, buying a website domain, or getting a mentor / coach every bit was Christina's case.

"Information technology sounds platitude, simply working smarter instead of working harder is how I reached six figures," Christina explains. "How practice you work smarter? You surroundings yourself with people who are smarter than you lot and accept already achieved what you lot're working for."

So she hired a business coach and plant someone to help her build out her business.

"I really did my homework," she says. "I hired someone with a squad of people, all of which were successful entrepreneurs earning at to the lowest degree multiple six figures, many of their clients were earning at to the lowest degree multiple six figures, and the coaching team had a very high retention charge per unit, which told me they must exercise something correct!"

That's only one example though. You can observe many ways to put money back into your business to assistance it grow.

One bang-up way to invest is to seek out mentorship or buy a product or a book — which brings usa to …

Investment #3: Yourself

Possibly the best investment that you can make that will put yous on a path to make 100k a year is putting money in developing yourself both career-wise and on a personal level.

"My biggest investment is cocky-care," Bonnie says. "The first matter on the calendar each month is Pilates, pole fitness, massages, day spa visits, couples therapy, quick getaways to Desert Hot Springs, and so on. If I'm non my best cocky, I've got naught to bring my clients. It's but stupid important, as investments become."

LOVE It.

Who cares if this seems similar a luxury? Who cares if people might scoff at the thought of getting a massage? What matters is that Y'all desire it and that Yous are willing to piece of work for it.

The best way to get started is to brainstorm investing in yourself. This is something people rarely think about when they get-go learning how to make $100,000 a twelvemonth.

And one affair that you will discover very common with people who take not taken the time to invest in themselves and learn how this stuff works, is they will create what'south called levels of abstraction.

Rather than just going directly to what they desire, they will create all these dissimilar levels of abstraction — like making a Facebook page or a blog — that make them feel adept, but that actually don't crave them to do the hard work.

And then, they'll spend six, nine, twelve months doing something frustrating and so give upwards considering they never spent time ownership a couple good books or buying a form.

That's why we want to offer you a proven system that'southward helped thousands of students earn tens of thousands of dollars a month — for FREE. When information technology comes to how to brand $100,000 a year, this can be a big step:

The official handbook to vi-figure freelancing with zero experience

You'll discover:

The 3 fears you lot MUST overcome if you want to make it as a half dozen-figure freelancer
How to go a highly sought-after proficient (Hint: It has nothing to do with credentials or degrees)
How to figure out if an idea is profitable earlier investing time and effort
The six parts to an electronic mail pitch that clients can't turn down
The Briefcase Technique that'll brand potential clients choose y'all over anyone else
And much more!

Enter your proper noun and e-mail below to get the free handbook.

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