New to the Live Richer Challenge: Net Worth Edition? Learn more about it HERE.

Missed some of the Challenge tasks? Catch-up then come back…

Day 8: HEREWays to Increase Net Worth

Day 9: HERE: The Art of Negotiation


Week 2: Increasing Your Net Worth

Today’s Easy Financial Task: Learn how to increase your income and net worth with entrepreneurship.

How to rock this task:

  • Learn ways to venture into entrepreneurship for extra income
  • Do a mind map to help you come up with ideas that you can turn into a business


Day 10 and we’re getting into another task!

Yesterday, we delved deep into the art of negotiation and how to go about getting a raise from your current job.

I had so much fun reading the responses to the video and seeing the special skills that all of you posted in the comments.

These are all valuable skills and achievements that any employer would be lucky to have from an engaged employee such as yourself.

Give yourself a round of applause.

Despite your awesomeness, the reality is it may not always be possible to get a raise from your present job. And if you need money ASAP, searching for and landing a new job may take too much time to improve your current situation.

That’s where entrepreneurship can come in and increase your wealth.


The Benefits of Entrepreneurship

I fell into entrepreneurship after facing a few years of not being able to find a full-time job. From my experience, I can tell you first hand that everyone (and their momma) has skills that can be translated into a business.

Plus, the benefits of entrepreneurship are plentiful. Here are a few:


  • The income is unlimited – When you start and run your own business, you are in charge of how much money you earn. You set your prices and the amount of effort you put in will directly reflect your earnings. You can increase your net worth by leaps and bounds as an entrepreneur after gaining experience and honing in on a business model that works.
  • You can parlay entrepreneurship into a full-time job – If you dream about running your own business full-time, being an entrepreneur part-time can be a good way to test out different ideas that can eventually lead into a profitable business.
  • A fall back option if you lose a job – Let’s be real, no job is secure. If you do lose your job, being a part-time entrepreneur will give you some income and possibly a starting point for a business that can replace the income you lost.


Where Should You Start?

Consider starting a business doing what you already do for a living. Yup!

Pursuing your passion for a business isn’t always the right way to go. Passions that people aren’t interested in buying may be a tough sell. Yes, I said it…

I’m not saying you shouldn’t be passionate about your business. I LOVE my business, The Budgetnista! I’m saying that passion isn’t enough. It’s only one of the pieces to the puzzle of your success.

When you start a business doing what you do professionally for work, it’s easier to get started because it’s a field you’re familiar with.

This is how I found my sweet spot. My career was in preschool teaching.

The skill I perfected during that time is teaching. I used teaching methods and my public speaking skills to start teaching financial literacy and growing The Budgetnista brand.

Here’s why this approach to entrepreneurship works…

  • If your job is willing to pay you for your skills and talent then trust me others will be interested in your skill as well.
  • Already being paid by an employer in your craft increases your credibility in the eye’s of potential customers and peers in the field.


The years of experience you have in a position and industry makes you stand apart as an expert. Think of yourself as a specialist!

Sometimes choosing what business to start is simple:

  • If you’re highly organized and work as an administrative assistant, you can offer administrative assistant services remotely to business owners and other entrepreneurs.
  • If you work in the travel industry (i.e. hotels, airlines, etc.), you could be a destination expert or travel agent.
  • If you’re a project manager, you can start a business managing projects independently to companies in your chosen industry.
  • If you’re a human resources professional, you can consult for small businesses or even employees. Employees may need help getting hired or even need advice on handling difficult situations at work.

Pull out the skills you’ve learned from your current career and create an awesome opportunity for yourself.


Not Sure What You Can Do?

No worries!

I have an exercise for you — mindmapping.

Mindmapping is when you creatively transfer everything that’s flying around in your brain onto paper.

You don’t organize these thoughts right away.

Rather, you start free writing and then look back at it for trends that can lead you into a new direction or help you solve a problem.

Here’s how to do it:

  • Grab a blank pen and paper.
  • Draw a circle in the middle of it and write “ME.”
  • Draw four lines coming from that circle.
  • Add circles at the end of each line and then write: “skills, qualities, expertise, and passions” inside each circle.
  • Expand upon the ideas you come up with in each circle.
  • Based on the results of the “skills, qualities, expertise, and passions” think of business ideas.

Nothing is off limits when you’re writing. Don’t let self doubt dictate what you put in the mind map either!

Need help getting started? Here’s a free mind map template.

And check out an example from a Dream Catcher below:


Share Your Ideas

Pick one or two ideas from your mind map and share them with us in the comments below or in the Dream Catchers : LIVE RICHER Facebook Group.

Don’t skip this step because your idea may inspire someone else!

Be sure to share what you’re doing today with your friends on Twitter!

Today is the day I’m coming up with business ideas I can pursue to increase my net worth! Day… Click To Tweet

Live richer,


You can reach out to me here:

Twitter: @thebudgetnista

Instagram: @thebudgetnista

Facebook: The Budgetnista

Private Forum: Dream Catchers : LIVE RICHER

P.S. Don’t forget to get your free Live Richer Challenge: Net Worth Edition Starter Kit. GET IT HERE.

P.P.S. Here’s a copy of the Challenge Calendar. It’s a fun way to keep track of your progress.

LRC Net Worth Calendar

Want to work through the Live Richer Challenge: Net Worth Edition in a workbook? It’s part of a bestselling series!

Click the link below and get your copy.

  • TheSavvyAccountant

    Omg why did I feel like that was my chart! Almost all were me lol!! I’m excited to do my own chart!

    • Lol! I can’t wait to see what you come up with @th@thesavvyaccountant:disqus

  • Idreana Coates

    I currently work in subsidized housing as a compliance manager. Any business suggestions from other budgetnistas? My thought are along the lines of assisting businesses with compliance or owning a community for subsidized/senior living.

    • Education is an awesome business. I like compliance education. You already know who needs to know what.

  • Veronica God’sChild W

    CDA trainer, Parent Educator, coach, blogger

    • Which one will you focus on @@veronicagodschildw:disqus ?

  • Nicole Andrus

    I have gone through the mind-mapping stage and finally decided on an online retail store last year. After all the self-doubt and everything else I finally went for it this last Thanksgiving and it has been the best thing ever. It is a lot of work but because it’s something I love it’s not hard at all.

    • Yeeees! Love this @@nicole_andrus:disqus !

    • Nawkole Kendace


  • Jamie Cheatwood

    After giving it a lot of thought (and a little bit of persistence at my current job lol) I have realized I am quite good at creating and maintaining spreadsheets in both Excel and Google Sheets. Formulas, formatting, all that fun stuff. And I even enjoy doing it. I guess the question is, where do you even begin to start doing that as a little side business? (I have also recently learned that it is not a skill everyone has lol)

    • Twyla McDonald

      Me too! My skills are definitely related to my career field, but I’ve been told on several occasion on teaching a course on all things accounting/investing.. lol

    • These are great skills that an entreprenuer might be hiring for. Maybe doing some virtual work for other business owners.

      Join business FB groups @J@jamiecheatwood:disqus @tw@twylamcdonald:disqus and ask around in there.

  • Courtney Black

    I’m a stand up comedian. Used to do cancer research then became a high school substitute teacher for the last 10 years as my side hustle in the entertainment field. I can’t think of what business to do. Interestingly enough, one of the comedy clubs asked me to lead a 4 week comedy camp for high school students. I start Friday. Maybe I can teach comedy to kids after the camp but will they pay? Or should I consider public speaking for the youth because everyone may not be interested in comedy but everyone should learn how to lose the fear of public speaking? Idk, confused and lost. Suggestions?

    • Yes! I love the idea of a comedy camp. Start where you true interest is. It will keep you going when nothing else is.

      • Courtney Black

        Thanks!!! 🙂

  • Samantha Jackson

    My God given gift is doing hair, I even braid sometimes on the side, but I haven’t really promoted it much because I’m not licensed. I never perused getting licensed because quitting my job to go to school is not an option and there are no evening courses in my area. It’s something I enjoy doing. I’m also passionate about living a healthy lifestyle and could definitely help others do the same.
    More work related, I’m very good at proof reading and re-wording documents so that they sound official or more professional. This helps to get the intended point across.

    • Yes! You might look into being a virtual, personal assistant.

    • Courtney Black

      I think ppl would pay to learn how to braid w/o you having a license. I can never braid tight but wish I knew how to. You could do a “Basics to Braiding”, a how-to type of thing. The Budgetnista says keep it simple.

  • Trici Coleman

    I have a passion for encouraging and uplifting people. I live for motivation. I love to see people happy and doing good in life. I like to work with the homeless and domestic violence victims since its part of my testimony. I love my culture and love to instill a sense of pride within the children. I also have a passion for chakras energy and holistic healing.

  • Tomisha

    I’m a registered nurse and after looking at my mind map I think I would be a good coach for inspiring nurses, a tutor for student nurses or a blogger. I really enjoy writing and that’s how I expresss myself so I could combine nursing with writing and write a blog about health and the nursing career.

    • Info products are always a great choice. Low overhead. 😉

      • gm roberts

        Can you make money blogging? Someone told me last year I should blog about healthy eating and fitness. I’m vegan and often do free tastings to help our people see that healthy eating can be palate pleasing. I share info for free and give away samples of what I prepare for my meals to people who have expressed an interest in eating better.

        • BeingMom24

          yes – ads on your website, sponsorships, affiliate marketing, to name a few ways…build the site and the readership and you will be able to make $. You can also sell e-books, pdf downloads, etc.

  • ducktapegurl

    I am a people person and I love being creative and making things. I am also very organized. I think I would make a great life coach. I also would like to try making things and selling them, either at craft shows or perhaps on etsy.

  • Lee Hernandez

    I’ve always been told I have very soft hands and a great massager. I never pursued a career in massage therapy but have always loved that field. I even thought of opening up my own business but did not pursue because I don’t have working experience. My career is in social work I thought of combining both. Once i become licensed as a clinician, I thought about combining the two and opening up a center for counseling and massage therapy like holistic place. I also fell in love with zumba 3 years ago I’m very good but very shy. I thought of teaching a class just to get my feet wet. hmmmm????!!!!!

  • Deborah Ivey

    I like helping folks so being a life coach would be a good fit for me.

  • Monica W.

    After taking a CPR training, the instructor asked if I’d be interested in becoming an instructor, so I will look into that!

  • Annette Houston

    I’m a nursing assistant, and I love doing daycare. I’m in school to get my associates in ChildDevelopment. I also have a passion to mentor teen moms because I was one. I’m going to ask god to direct my path.

  • dontea_hunter

    Results from my map are a Relationship Therapist [which I already am 🙂 hehe], which just validates my career plan and a Travel blogger…didn’t really see that coming. 🙂

  • Danielle Anderson

    So the only thing that I could come up with is a Professional A/V Tech. I already do this at my church (Hallelujer! *Madea’s voice*), so I know I can expand on this and turn it into a business for myself. I can service venues for sporting events or venues for live entertainment like concerts.

  • Chelsea Diane

    So my job keeps me physically busy with traveling so I would have to do something on the side that doesn’t require me to be present. I actually love clerical work and I am super organized. I enjoy spreadsheets and all that “nerd” work lol. So I’m thinking assistant work but I don’t even know where to begin. I’m also in the medical field so I understand medical terminology so combining the two would be great. Again don’t know where to start tho lol

  • Jocelyn Gómez

    I am good at research because that is what i’ve been trained to do at graduate school. However when I plan educational events or workshops, I enjoy connecting with people and organization and work on these events together.

    • Tamisha Hill

      Hi Jocelyn, how would you turn researching into a business? I am asking because one of my skills is research but would not know how to turn my love for it into a business.

      • Jocelyn Gómez

        I have been thinking about it but not sure yet. Perhaps start a blog or freelance as a writer gathering sources.

  • Adria Briscoe

    I love to motivate and inspire others. I guess this is why I am a middle school teacher, however I feel that I am ready to move onto the next. Because I love to write and talk about hair care, self-care and cooking I am really going to focus on my blog that I bought the domain for!! I just have to stop being scared.

    • gm roberts

      How does blogging generate income? Someone told me last year I should blog about information I give away when asked.

  • I love the mind-mapping task of the day! It had opened up my mind and heart for the many possibilities I can utilize for entrepreneurial ventures I can start on a dime… from a Virtual Assistant to a writer to a beauty on-the-g- organizer!

  • Tamisha Binky Williams

    a couple of ideas that came to mind after mind mapping were a program developer for schools and businesses and a coach/consultant. i was also inspired by another dream catcher who wrote down virtual assistant.

  • Nicole Garris

    Today I learned that I could use my skills and abilities to supplemeby addition 8am income….Yayyyyg. More assets.

  • Diaminique Goodwin

    I have been a Billing Administrative Assistant for Logistics companies for five years. My passion is Fashion Designing. I design Hair Bows/headbands, paint shoes, make Tu Tu and all other custom clothing.

  • gm roberts

    I’m thinking about offering eating with intention workshops. I am vegan and have a following in my family and community of people who look forward to trying the dishes I prepare. They seek me out for advice about good foods to eat and about foods that will heal their ailments. Last year I earned a fitness nutrition specialist certification through ACE. I have a profession, very demanding, that has NOTHING to do with nutrition, health or fitness so I did one or two free events after getting the certification but not much – tasting, grocery store tours. Not sure how to price a workshop like this when options are : 1) virtual webinar 2) workshop and tasting/demo on the ground. On the ground would allow me to use my public speaking gift, passion for empowering others through sharing info.

    • Racquel Foster

      I would attend this!

  • Layla

    One of my ideas is to create a tutoring/advising service for disenfranchised youth who are interested in entering the medical profession. It’s very hard for our youth to become medical professionals because they lack the resources and support, so that’s where my company will come in to address these issues.

    • BeingMom24

      This is amazing! Just yesterday I attended an event at the local YMCA on this very topic and the youth in attendance were so bright and interested! I wish I had access to resources like this when I was coming up!

  • Lynn Edmonds

    Looks like I should start a counseling service, training service or event planning business. I love working with people and seeing people thrive and grow. I love sharing my knowledge and expertise with others.

  • Racquel Foster

    I’m just getting this done. Two things jumped off the page for me. Home organization and fitness training.

  • Ann Scott

    I don’t know what my business would be. I’m sociable and gregarious. I’ve helped to edit resumes, essays, and cover letters in the past, even self-evals. I love giving advice and storytelling. 🙁

  • gm roberts

    I called our tax preparer today because I saw on some of her stationary that she is a CFP. I want to sit with a professional and get a full comprehensive plan prepared but will only do this after my consultation with Ellevest to discuss my free plan. Thanks @@thebudgetnista:disqus. HERE IS THE BLESSING….she has space in her business that she rents for workshops/seminars, yoga classes, organization meetings. The space is ideal for my business idea of some on-the-ground eating with intention workshops. For Day 10 I spent wayyyy too much time working on some elements of the business concept. Figured what I could charge, how many clients I need in each workshop to meet some financial investment goals AND the maximum in overheard to rent a centrally located facility accessible by public transit. Her space is ideal and can hold a lot more clients than I have targeted and rents for the price I wanted to pay! It is near 2 of the primary healthy food markets I use and would mean a world of difference in easily executing one component of my business!!!! God has delivered in such a big way that I can start on this business journey this summer so I can cultivate clients for the 2018 holiday season – Thanksgiving, Christmas and New Year.

  • KeishDogg4

    I love working and empowering women and children mainly in the inner city areas. I also love writing. I’m just not sure what to do with these ideas or how to get started in order to monetize from it. I’m thinking of starting a podcast, as well as blogging and writing kindle books, but don’t know what topics to choose or how to get started. Any ideas?

  • Daph G

    I love art so maybe I can gather local artist and put on a show where people can buy the local artist arts.

  • Jacqueline

    I’m a certified nursing assistant with the passion of helping others but I’m an expertise at cooking, I am also very resourceful helping others with resumes, finding the nearest community assistants, and very supportive of others . I inspire of one day becoming an owner of a restaurant or soup kitchen. Does anyone have any advice?????