How to Make Six Figures in Your Twenties
It’s not enough to be rich.
If you’re like most people, you won’t to be rich as quickly as possible. For many of us, that means acquiring wealth in our twenties.
If you are a recent college graduate, you may be asking yourself, “How do I make a six figure salary before I turn thirty?”
For some of us, the answer is easier than for others. For example, a select few among us will have ready-made positions following graduation that start out with six-figure rates. If you’re not one of these lucky individuals, business is likely your way to go.
Knowing this, what tips and tricks should you keep in mind in order to grow a successful business and pull in a six figure salary in your twenties?
In this article, we will discuss all of that. This expert advice could have you making more money than ever in no time.
Let’s begin!
Work with a Mentor
This is one of the most important things you can do. It’s rare that you find individuals who can succeed in business on their own. Instead, many go the route of apprenticeships or internships. This allows individuals to train with successful businessmen and learn tricks of the trade from them.
This is a good idea for any aspiring entrepreneur. Why? Simply because a quality mentor can show you how to develop a high-income skill. And when we talk about getting rich quickly, developing a high-income skill is the most important thing you could do.
Even if you go into your internship not knowing what that skill is, you can learn it from a mentor. There’s no more valuable teacher than experience, and you will be learning years of experience from a master in the field.
This is one of the most effective ways to truly learn a skill or trade that will set you up for making a six-figure salary before you turn thirty. Which leads me to my next point…
Develop a Skill Based Off Your Talents
As you are working under mentor, you will learn the importance of developing a high-income skill based off your talents. Of course, this will largely depend on what field you wish to join.
For example, you may find that you have a knack for marketing. If this is the case, it’s important that your mentor bring this skill out in you so that you can succeed later in life. Developing skills based off your talents is a great way to increase your marketability and likelihood of later business success.
Don’t worry if you can’t find your talents at first. It may simply take you more training or experience to find out what you are truly good at. This is normal. Remember that everyone is different, and it takes more time for some individuals to find their calling.
Once you’ve found it, however, take advantage of your opportunity to truly hone a skill and use it to your market advantage. This is one of the best ways to ensure a six-figure salary before you are thirty years old.
Know What to Charge
Once you have honed your skills and started your business, it’s absolutely crucial that you know what to charge. Unless you are a huge business like Walmart (you’re not), you simply won’t be able to make a lot of money by selling a bunch of cheap stuff.
Simply put, this requires extensive infrastructure and more manpower than you’re likely to have on hand. Instead, you need to think of a smarter strategy. This means that rather than charging a little for a lot, you should be charging individuals high rates for using your products or services.
I know what you may be thinking—this is counterintuitive. No one wants to buy high-priced goods.
The truth of the matter, though, is that this is a misconception. There are several successful companies, businesses, and individuals who don’t mind paying extra for a quality good or service. Knowing this, you shouldn’t be afraid to raise your rates.
Remember that you are not always marketing experience. You are marketing the value of what you are offering consumers. This means that you should charge what your services are actually worth. Don’t sell yourself short.
If you do, it’s likely you won’t ever make a six-figure salary while you’re still in your twenties.
Aim for Return Business
Once you have established a high-paying client base, you want to do everything you can to make sure those customers return. It isn’t enough to simply rely off the income of new customers.
Instead, you want customers who repeatedly come back for your services. Of course, this means that you must always do a good job. No one wants to repeatedly patronize low-quality businesses.
This also means that you should provide excellent customer service in your business. Remember to cater to your clients and make them feel special and wanted. This is often the upper hand your business has over other companies.
Once you have a stable returning client base, you will be well on your way to making a six-figure salary in your twenties. In fact, if you can achieve this feat, there’s a great likelihood that you’ll be making even more.
Knowing this, you should focus your efforts on developing a returning consumer base that’s in love with your products.
Wrap Up
We’ve gone over several methods you can follow to achieve a six-figure salary in your twenties. Let’s briefly recap those ways. You can:
- Work under a quality mentor
- Develop a skill based off your talents
- Charge the right prices
- Aim for a returning customer base
If you can do all these things successfully, there’s no doubt that you will earn at least a six-figure salary before the end of your twenties. Though it will take determination and effort, it will more than pay for itself. The results of your hard work could forever change the course of your life.
So what are you waiting for? Get started today!
