In my previous post, I explained how NOT to make money. I then learned how to make money working from home …
When I left full time education, the LAST thing I wanted was a “boring” 9 to 5 office job where I had to conform by wearing a suit and tie. But having spent 3 years working long, hard, unsocialable, stressful, poorly-paid hours as a restaurant manger, ALL I wanted was an office job where I could wear a smart suit and only had to work 9 to 5 Monday to Friday instead of evenings and weekends.
I still wanted to be an entrepreneur and make loads of money and my time as a restaurant manager taught me that I needed to do something that was low risk, that didn’t involve a lot of capital up front, that didn’t have massive overheads, and didn’t involve employing a lot of staff.
I also knew that a “conventional” employed job would put a ceiling on my income. I would only get paid the going rate for that position. I might be able to work my way to the top – but that would probably involve many years of hard work, long hours and sucking up to the boss!
I knew that sales people could make money - a lot of money – if they received commission for each sale they made. The more they sold, the more money they made. In theory, there is no cap on the amount of money they could make.
So I became a commission-only Financial Adviser, selling financial products such as pensions, investments and life assurance. I started as an employee of a large company so I could get all the techinical and sales training I needed. My employer also provided me with an office and support staff. But as an employee, I only received a percentage of the commission I earned. My empoyer kept the rest.
So, when I felt that I was experienced enough, I took the plunge and set up my own business as a financial adviser working from home so I didn’t have to pay for an office and all the overheads that involves.
I was now an entrepreneur in an industry where, in theory, I could make a lot of money working from home. But as I will explain in my next post, this was not an ideal work at home business …