252: Finance Friday: Self-Employed Revenue, Health Insurance, and Hiring

252: Finance Friday: Self-Employed Revenue, Health Insurance, and Hiring

It takes a leap of faith to leave a W2 job and wander through the hills and valleys of self-employment. With the right skill set, time management, and perseverance, you can come out more profitable (and happier) than you were originally at your old job. But, once you succeed, it may be hard to slow down the self-employment train, and your side-gig could become a full-on business, with the need for employees. TJ has put herself in a phenomenal position, both financially and income-wise. She left her job to become a full-time consultant but knows she won’t be able to expand without hiring her first employee. Her business would need an employee to bring in more revenue, BUT she needs more revenue to bring on an employee. What would you do in this situation? Scott and Mindy have both spent time outsourcing and hiring before. They help TJ develop a roadmap to getting her first hire on board while keeping crucial revenue in the business. This episode also dives into self-employed health insurance, project management, and hiring a junior position that can grow into a senior in little time. In This Episode We Cover Why it’s imperative to keep your costs low while trying to run a business What to do once you’ve hit your max capacity for work at your business Whether or not now is the time for you to hire your first employee Fully mapping out the cost of a full-time vs. part-time worker on your team Putting together a business plan that allows you to forecast your business’s future Health insurance while self-employed and why an HSA plan may be your best bet And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Episoder(747)

11: Financial Freedom in Less Than Five Years with Joel from FI 180

11: Financial Freedom in Less Than Five Years with Joel from FI 180

Joel and his wife were barreling down the wrong financial path - saving nothing and spending more than $100,000 every year. A freak car accident literally changed the direction of their lives by causi...

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10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

10: Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

In March, 2014, Liz and her husband made the conscious decision to stop their big city, big spending lifestyle, and adopt a frugal mindset in order to realize their new goal of moving out of the hustl...

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9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

9: Financial Independence at Age 30 (by House Hacking + Side Hustles) with Drew from Guy On Fire

What would happen if someone had early financial independence in mind right out the gate, upon graduating college? Imagine the amount of money that person could stockpile... Today’s guest had exactly ...

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8: From Financially Perfect to Rock Bottom (and back again) with Tiffany “The Budgetnista” Aliche

Tiffany Aliche grew up talking about money. Her dad was an accountant,  her mother actively  engaged the children in grocery  shopping and other areas of finance. She was a teacher at a private school...

19 Feb 201855min

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

7: How Breakfast Food Motivated Financial Freedom with Mr. and Mrs. Waffles on Wednesday

Mr. and Mrs. Waffles on Wednesday (WoW) were doing everything wrong. They ran up ridiculous tabs at a local restaurant/bar just ‘hanging out,’ while getting abysmal returns from their financial planne...

12 Feb 20181h 10min

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

6: Fearlessly Paying off Massive Student Debt on $30,000 per Year with Sarah Wilson

Are you tired of hearing success stories from folks who are earning $60,000, $80,000, or even $100,000 or more paying off debt and moving toward financial freedom? Where’s the inspiration for the fol...

5 Feb 201832min

5: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen

5: Jump Starting your Early FI Plans by Live-in Flipping with Mindy Jensen

Mindy was born in a small town, and then she moved and moved and moved. In fact, moving doesn’t phase her at all, which plays right into the core component of her investment strategy -- The Live-In-Fl...

29 Jan 201853min

4: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner

4: From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner

Rosemarie Groner was a State Trooper - a good, recession-proof job. Chronic disorganization led to more than $30,000 in consumer debt when she made the decision to quit her job to stay home with her f...

22 Jan 201857min

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