Supplemental Income vs. Just Income
June 28, 2021
In this episode, Sheldon gives some thoughts on supplemental income vs. just income. All consultant need to have more money coming in beside client work. Let's think about ways to make some income.
Keywords: Supplemental Income, Side Hustle, Safety, Safety Consulting, EHS, Sheldon Primus, EHS Consulting, Safety FM, Jay Allen, US, Government, American, Gig Economy
[00:00:00] : This episode is powered by safety FM. Mhm mm. Welcome to the safety consultant podcast. I am your host, Sheldon Promise This is a podcast where I teach you the business of being a safety consultant and I have become your consultant. America's consulted. Why not? Welcome to this week's episode. So flavor was still good. I'm actually going to be on vacation this week in Boca, losing my son, but just wanted to got a nice little episode out there for you guys and this one is gonna be you and me. Can't they say like the old school? But generally I have not been actually having guests and I'm about to, so I'm prepping some of those things. All right. So this week I'm going to talk about something. I haven't talked back in a while and it's kind of like last week I wanted to touch on proposals because I have been talking about proposals the way I normally have in the past. Uh so this week I am going to talk a little bit about supplemental income but I don't want to make it seem like supplemental it's just income. So that's really what we're gonna do. We're gonna talk a little bit about uh different ways and finding out what you could do to make yourself some money in between jobs. So that's what we're going to go over. So, it's gonna be just me again. Great. So since it's just gonna be me and truly you and I were good. Mhm. All right. So let's talk about the supplemental income side or the income side as I like to think of it. Reason why I'm saying that supplemental is because for us. Well, the first determine rate supplemental means that you've got some other income coming in and now you just need to or you just need some income for extra or you need some income to patch some holes that is in your budget. So you you got to get elected more money in there so you get the supplemental income. So in a true sense of the word, yes it's there. Um I can't say it's a side hustle either because what I'm talking about would not be a side hustle because I am thinking of you as a totality meaning. Mhm. All aspects of you can't make money not just in safety, not just as a consultant. So if you're working for yourself as your own boss you could possibly have several businesses right? I do you know it's just what you should be doing because truly you cannot just to be the one thing and still make it. That's the that's the secret sauce of all consultants. I'll let you know that. The reason why we say that is because business runs a little bit on different timescales will sell you this way and that means they're going to do things that make sense to them and they're going to make sure that when they are going to hire outside, it makes sense for them to do it for certain projects or certain time periods or even a certain event. You will have to wait for those events to happen and think of this. The event has to happen for the organization to say we need a consultant. And let's say even if somebody is thinking ahead still, there's a thought or some process that has to go back and forth, back and forth and saying, okay, let's get a consultant now for this project at this time, you're still waiting for all those things to line up because now they have to choose you out of all that. So that's why there's the drought and the feast or famine. Let's say that in consulting in any kind of business where you're working for yourself. So you'll have some time when the money is coming in hand over fist and you're like wow I haven't seen that much of my account in a long time and then there's time like mm I wonder who's hiring, You go through that. So if you're a consultant you will go through that regardless of whatever industry you are, especially in the beginning. But then after a while your name gets out there and the longer you stay in business the more busy you'll get organically because you're just giving know how to fill those gaps with projects. But supplemental income or other income let's say that can be found for safety consultants in many ways. So let's say that your core business as a consultant is providing site safety services for someone. All right. So that could be your your core business, you're working for yourself. But if you still need a little bit extra money then you might take on something like trying to find someone to do instructional design or design your own courses for yourself. Mm Fine. That's two options. And the next one you might think of for safety and health side might be training. So now you've got training, you've got your safety services and then you also have whatever uh you're you're looking at for job wise, such as, you know, are you professional, full time safety consulting or are you just truly trying and dipping your foot out there a little bit at a time? Well, you're still working. Mhm. So, the idea is for you to try to figure out. All right, well, how can I keep my self employed but also make sure that I'm doing stuff that's in my wheelhouse that's fun for me. So one of the things I keep thinking about as far as being fun could be your talent. So is there a way that you can make money from your talents? If that's a yes then that then will become another source of income supplemental in the true sense of the word. Yes, but then who's to say? He just didn't want to start a business like that? So then that's that supplemental lets you having to businesses. Um There's another thing you can do, you can take on pet projects that do pay. So I've got this project with my brother, he is the ceo of Pride Promise Global Media. So I'm working with him and they do seminars and webinars and all kinds of stuff. So you know that's it's a great way for me to get involved and you have to have some fun and its income. So another way the music, actually, this song that you can start hearing is not one of mine, but I do have plenty of my songs and that you guys have heard, including My Bruce Lee, which is the actual name of the, my title song, I wrote that one. So down, you can actually get it. So if you go to the Sheldon Privates dot com backslash music or the shop, then you can find my music there. So again, and now the way of making income. So the idea is open to mind a little, see you what is out there, as far as possibilities for making money and then go for it. Mhm See short but sweet. I honestly want to do a quick one this week just because of once you guys just to think of one thing and that one thing is how can I make extra money? In what way that's fun for me? Or at least easy. You may not be able to do everything fun, but you may be able to find something that's easy for you. Yeah, go for that. All right. That is actually going to be a nice quick episode. Have a wonderful rest of your week. Everybody, I'm going on vacation as you can tell vacation, but it is already going to my head. Think of something right this week that you can make some money on and do it. Go get him. This episode has been powered by safety FM. The views and opinions expressed on this podcast or broadcast are those of the host of its guests and do not necessarily reflect the official policy or position of the company. Examples of analysis discussed in the past hour are only examples. They should not be utilized in the real world as the only solution available as they are based on very limited indicated open source information, assumptions made within this analysis are not reflective of the position of the company. No part of this podcast or broadcast may be reproduced, stored within a retrieval system or transmitted in any form or by any means mechanical, electronic reporting or otherwise, without prior written permission of the creator of the podcast or broadcast. Children brightness. Mhm. Mhm.
[00:00:00] : This episode is powered by safety FM. Mhm mm. Welcome to the safety consultant podcast. I am your host, Sheldon Promise This is a podcast where I teach you the business of being a safety consultant and I have become your consultant. America's consulted. Why not? Welcome to this week's episode. So flavor was still good. I'm actually going to be on vacation this week in Boca, losing my son, but just wanted to got a nice little episode out there for you guys and this one is gonna be you and me. Can't they say like the old school? But generally I have not been actually having guests and I'm about to, so I'm prepping some of those things. All right. So this week I'm going to talk about something. I haven't talked back in a while and it's kind of like last week I wanted to touch on proposals because I have been talking about proposals the way I normally have in the past. Uh so this week I am going to talk a little bit about supplemental income but I don't want to make it seem like supplemental it's just income. So that's really what we're gonna do. We're gonna talk a little bit about uh different ways and finding out what you could do to make yourself some money in between jobs. So that's what we're going to go over. So, it's gonna be just me again. Great. So since it's just gonna be me and truly you and I were good. Mhm. All right. So let's talk about the supplemental income side or the income side as I like to think of it. Reason why I'm saying that supplemental is because for us. Well, the first determine rate supplemental means that you've got some other income coming in and now you just need to or you just need some income for extra or you need some income to patch some holes that is in your budget. So you you got to get elected more money in there so you get the supplemental income. So in a true sense of the word, yes it's there. Um I can't say it's a side hustle either because what I'm talking about would not be a side hustle because I am thinking of you as a totality meaning. Mhm. All aspects of you can't make money not just in safety, not just as a consultant. So if you're working for yourself as your own boss you could possibly have several businesses right? I do you know it's just what you should be doing because truly you cannot just to be the one thing and still make it. That's the that's the secret sauce of all consultants. I'll let you know that. The reason why we say that is because business runs a little bit on different timescales will sell you this way and that means they're going to do things that make sense to them and they're going to make sure that when they are going to hire outside, it makes sense for them to do it for certain projects or certain time periods or even a certain event. You will have to wait for those events to happen and think of this. The event has to happen for the organization to say we need a consultant. And let's say even if somebody is thinking ahead still, there's a thought or some process that has to go back and forth, back and forth and saying, okay, let's get a consultant now for this project at this time, you're still waiting for all those things to line up because now they have to choose you out of all that. So that's why there's the drought and the feast or famine. Let's say that in consulting in any kind of business where you're working for yourself. So you'll have some time when the money is coming in hand over fist and you're like wow I haven't seen that much of my account in a long time and then there's time like mm I wonder who's hiring, You go through that. So if you're a consultant you will go through that regardless of whatever industry you are, especially in the beginning. But then after a while your name gets out there and the longer you stay in business the more busy you'll get organically because you're just giving know how to fill those gaps with projects. But supplemental income or other income let's say that can be found for safety consultants in many ways. So let's say that your core business as a consultant is providing site safety services for someone. All right. So that could be your your core business, you're working for yourself. But if you still need a little bit extra money then you might take on something like trying to find someone to do instructional design or design your own courses for yourself. Mm Fine. That's two options. And the next one you might think of for safety and health side might be training. So now you've got training, you've got your safety services and then you also have whatever uh you're you're looking at for job wise, such as, you know, are you professional, full time safety consulting or are you just truly trying and dipping your foot out there a little bit at a time? Well, you're still working. Mhm. So, the idea is for you to try to figure out. All right, well, how can I keep my self employed but also make sure that I'm doing stuff that's in my wheelhouse that's fun for me. So one of the things I keep thinking about as far as being fun could be your talent. So is there a way that you can make money from your talents? If that's a yes then that then will become another source of income supplemental in the true sense of the word. Yes, but then who's to say? He just didn't want to start a business like that? So then that's that supplemental lets you having to businesses. Um There's another thing you can do, you can take on pet projects that do pay. So I've got this project with my brother, he is the ceo of Pride Promise Global Media. So I'm working with him and they do seminars and webinars and all kinds of stuff. So you know that's it's a great way for me to get involved and you have to have some fun and its income. So another way the music, actually, this song that you can start hearing is not one of mine, but I do have plenty of my songs and that you guys have heard, including My Bruce Lee, which is the actual name of the, my title song, I wrote that one. So down, you can actually get it. So if you go to the Sheldon Privates dot com backslash music or the shop, then you can find my music there. So again, and now the way of making income. So the idea is open to mind a little, see you what is out there, as far as possibilities for making money and then go for it. Mhm See short but sweet. I honestly want to do a quick one this week just because of once you guys just to think of one thing and that one thing is how can I make extra money? In what way that's fun for me? Or at least easy. You may not be able to do everything fun, but you may be able to find something that's easy for you. Yeah, go for that. All right. That is actually going to be a nice quick episode. Have a wonderful rest of your week. Everybody, I'm going on vacation as you can tell vacation, but it is already going to my head. Think of something right this week that you can make some money on and do it. Go get him. This episode has been powered by safety FM. The views and opinions expressed on this podcast or broadcast are those of the host of its guests and do not necessarily reflect the official policy or position of the company. Examples of analysis discussed in the past hour are only examples. They should not be utilized in the real world as the only solution available as they are based on very limited indicated open source information, assumptions made within this analysis are not reflective of the position of the company. No part of this podcast or broadcast may be reproduced, stored within a retrieval system or transmitted in any form or by any means mechanical, electronic reporting or otherwise, without prior written permission of the creator of the podcast or broadcast. Children brightness. Mhm. Mhm.
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