Give Yourself a Raise

You need more money.

You already have a "day job." A good one. Maybe you're an office worker. Maybe you're a doctor. Maybe you're a teacher. Or a nurse. Or a mechanic. But the thing is you already have a job.

And you need more money.

Here are some options:

• Ask for a raise. Sure to be a crowd pleaser. Even though the Australian economy is better off than many other economies, companies are experiencing slowdowns and are working hard to keep employees on staff. Layoffs are being avoided in many cases because employee wages are holding firm or going down.
• Work more hours. If you get paid more for working more, you can simply add more time in the office, get more done, and take home more money. Easy, right? But layoffs are also being avoided because employers are cutting back hours to match the lower demand.
• Switch companies. A great way to increase your salary is to change employers. However, unemployment is on the rise, and people are competitively applying for the same jobs. So it's a employers' market. This means less money, not more. In some industries, it could work, but in most cases it will take a lot of door knocking to move companies and your chances of a big increase are slim.
• Go back to school. Many people might take advantage of this economic downturn to retool, retrain, and reinvigorate their careers. Of course, this doesn't make you any extra money.... And that was the point.
• Get a second job. If you've longed to start a business or try another career, and you need extra money, now may be the perfect time to add a layer to your day job. Keep your day job. Enjoy it. And add something else to satisfy yourself, to earn extra money, and to experience a world away from your day job.

My recommendation is that you should get the second job... add a layer... expand your horizons. I don't just mean work for someone else, there are heaps of options here.

In today's economic climate when the other options just aren't options, and even in good economic times, there is a distinct and meaningful satisfaction available to you for doing something different. You'll be surprised how much more you can fit into a day. You'll be happy to have something different to do than your day job. You'll be able to try your dream job without eliminating your core income stream. You'll meet new people. You'll expand your horizons.

How much extra money do you need? This is a key question. If you can figure it out, you should be able to determine the right second job for you. If you were to make an extra $500 per week, would that make a difference? Would it be worth it? $500 per week is $2000 per month and $24,000 per year. That's a pretty good raise.

So give yourself a raise and expand your horizons at the same time.

Wendy Lloyd Curley is an Expert in Profitable Party Planning
www.wlcenterprises.com

What is a Pyramid Scheme?

Often when being told about a multi-level marketing (aka MLM) business opportunity, people inevitably say, “Oh, I get it. It’s a pyramid.”

I suppose that they’re right from one perspective; structure-wise, a successful MLM person has a downline (i.e. people they’ve recruited) and when you draw out the organisation chart (though there is no organisation per se) it could look somewhat like a pyramid. But from both a legal and imagery perspective, MLM is not at all a pyramid.

Legal

The real difference is in how money is made. In pyramid schemes (which are illegal), people pay money (a joining fee) to get involved, and they make money by recruiting other members who pay a joining fee to be involved (and so on). In pyramid schemes, real value is not being created at all – money is not being exchanged for goods, it is simply changing hands and the joining fee is being distributed up. The people at the top and at every step down along the way get part of the joining fee every time another person pays to join. "Smart" schemers have tried to make their activities look legitimate by pretending to sell something. According to the ACCC, “some pyramid scheme promoters disguise their true purpose by introducing products that are overpriced, of poor quality, difficult to sell or of little value. Making money out of recruitment is still their main aim.”

On the contrary, MLM is a legitimate (and perfectly legal) sales and marketing strategy. Rather than employ people to sell goods, a company sells at wholesale prices to distributors (also called associates, independent business owners, dealers, franchise owners, sales consultants, consultants, independent agents) who then onsell those products at retail rates. Distributors develop their own clients and can recruit additional independent distributors (i.e. their downline) to expand their reach. Money is made through legitimate sales of legitimate products. The distributor makes the wholesale/retail margin. The company makes a profit from their wholesale mark-up.

Imagery

If you think about it, a pyramid needs a strong base and then you build up. Once you've established the size of the base, you know how big your pyramid will be.

But MLM businesses are anything but fixed in size. They can be run for friends and family just to save money off retail rates, they can be run just to earn pocket money, they can be run to save a fixed amount of money each month for larger expenses, or they can be developed into grand organisations with unlimited income potential. And the interesting thing is that MLM businesses can change in size and scope over time. They aren't like rigid buildings; they're not like pyramids at all.

They're more like trees.

I can feel a tree post coming soon.... Until next time....

P.S. For more information about pyramid schemes, see Scamwatch, a website managed by the Australian Competition and Consumer Commission.

Wendy Lloyd Curley is an Expert in Profitable Party Planning
www.wlcenterprises.com

My Layers

You may be interested in knowing about the businesses I am currently involved in.

• I run a successful MLM business with PartyLite Australia, selling PartyLite candles, exclusive fragrances, and home decorating accessories. I support my ever-growing team of independent PartyLite consultants on Wendy's Candle Website.
• Turning my hobby and passion of singing and music into a semi-professional career has been exhilarating and extremely fulfilling. It takes hard work to be a musician, and I love every minute of it. You can see more about my Sydney-based bands here.
• Investment property has been a lucrative and quite passive part of my income stream layers. Initially, I invested in property to reduce my taxable income through negative gearing. Over the years, I have developed a solid professional network of support and deployed a good strategy which keeps my risk and return in check.
• Providing my two cents' worth to other small businesses as an advisor is a very fulfilling role for me. My strategic, financial, project management, and marketing background combined with my own small business experience is helping other companies to develop successful growth, development and exit strategies.

My Background

I've worked in the hospitality industry, the telecommunications industry, retail sales, multi-level marketing industry, franchises, and the music industry. I've worked for businesses, started businesses, sold businesses, invented new products, researched and evaluated import/export opportunities, and advised small businesses. I've gone to university and gotten the credentials in business, but, more importantly, I've applied that book knowledge in many ways in real life. I've succeeded at much of what I've done, and I've experienced failure. Stay tuned....

Wendy Lloyd Curley is an Expert in Profitable Party Planning
www.wlcenterprises.com