In the spirit of Thanksgiving, I thank the Lord all mighty for putting me in a position to enjoy each and every day as a holiday if I choose to.
Depending on the industry you work in and the company you work for, you may have anywhere from 3 to 17 holidays in any given year, or maybe more.
As a consultant, I experienced that many retail companies gave only 3 holidays, of which 2 usually fell on weekends. On the other hand, auto companies like Ford and GM give 17 holidays, made up of 7 National holidays and a 2 week (10 business days) shut down period during the summer. Similarly, I am sure various other industries work as per their industry calendars.
Wherever you may fit in this spectrum, utilizing corporate holidays to work on your side business is a good time to make some progress toward your long-term goals. If you are currently working and trading time for money, or hours for dollars, you likely have the Thanks Giving weekend off. And for whatever reason that you have to work, use the next coming holiday to work on that side business that you have always dreamt of starting up.
If you continue to trade time for money, you will always long for holidays such as this weekend to work on tasks you have long put off because of a hectic workload and schedule. For successful professionals, working becomes no longer all about money after a certain point as they start to crave more flexibility and freedom of choice. Sound familiar?
For those that are not quite as successful, with the increasing cost of living, and social retirement getting out of reach by the day, many are realizing that their dollars don’t go as far as they used to anymore. Therefore, starting a side business becomes a necessity and not just an option.
This is where entrepreneurship enters the picture. There is a wide variety of business opportunities and models that you can choose from that fit your lifestyle the best, and that generate residual and passive income.
By focusing on a side business that generates passive and residual income, you can work on it in parallel to your full time job in intervals as time permits. This ensures that you don’t necessarily have to quit your full time job to pursue your side business.
Thanks to technology and tools we have available today, you can leverage these and work on your business at your own convenience, independent of your day job. The beauty of most passive income endeavors is that once you set it up, you can move on to another without having to spend much time maintaining the first. This way, you can work on and set up several business opportunities over time, establishing multiple streams of income.
As your portfolio of passive income sources grows over time, you will be diversifying your income sources and increase the chances of always be earning some money from your portfolio of activities. This portfolio can easily grow enough overtime to become your full time endeavor.
When you start working for yourself, you inherently work harder and smarter. You control your own salary, as well as your own time off from work. There is no limit to your potential, except those you set for yourself.
So take some time this holiday season and reflect on your personal situation. Are you happy where you are doing what you are doing? If so, I am very happy for you. If not, do something about it.
And you don’t have any personal plans and are not traveling this coming holiday, use your time wisely and perhaps work on that side business idea you have long wanted to work on. And don’t just stop after this holiday weekend.
Carry it on and work on it during nights and weekends. The work you put in this holiday will someday provide you with all kinds of freedom and flexibility that many look forward to during the limited amount of holidays they receive from their employers.