Net income
The way to get an estimate of your net salary is by also including the cost for transportation to and from work as well as other expenses that are associated with your job.
Another financial awareness to be aware for and take into consideration is budgeting your expenses. This is a very successful way to improve your management skill and create your own personal financial limit. This way you can plan our your money and what you spend and how you spend your money. This will ensure that you always have money for your necessities, what’s important, and other unnecessary expenses like going out/shopping.
Making sure you are careful with large non-essential or non-consumable items is an important aspect of financial management. I learned that its best to do your research on the item and its resale value. Identifying if the value would hold a good value after you don’t want it, or would it be something people would purchase in the future from you.
Some items that can hold its value if not more are items like camera lenses, high-end watches (authentic), classic cars & most real estate.
Laser cut products
What I learned today from techie youth as well was about what laser cutting is. This is a form of cutting different shapes from different types of materials It can also engrave on all materials. commonly used for businesses of designing and creating pieces that new sell for a higher price. For businesses there are laser cutting businesses that will print out your objects for a fee or you can purchase one yourself for around $3,000.
Retrofitting electronic products
In this section I learned that a lot of times technology becomes outdated due to technology advancement and and upgrades that our older sources of technology become “useless” to us or trash, some of the examples that were given are cassette players, non digital cellphones, digital cameras and many more other items. But through techie youth I learned that these electronic products can be repurposed or reused by a different user by selling them. Many old electronics now days are being brought back into this year as trends, especially when the word “vintage” is involved. But when it comes to actually purchasing an old electronic you must be careful and knowledgeable about powering on an old device. Because these devices haven’t been used for years they can hold a lot of charged current, which can lead to electrocution.
Selling computer designed objects and technological crafts
Brainstorming about your business and what you will be selling or promoting
Whether is people buy a lot of it
People want it?
Popular?
Is it something that can improve the world
Can this solve common problems
Etc
Identifying also risks or problems that can come your way is another good way to plan so when these problems strike you have them resolved
Like seeing if your will have a lot of competitors what will make your product different
Your target of who you want to sell the products to
And if your are skilled enough to produce this product
Listing out the resources you will be needing such as tools
Products that will be needed frequently
Skills is another thing you will need to plan out what skills you have and need to learn to further improve your business
Where you will be selling you
BUDGETING estimating how much it would cause to produce the product and how must you will be selling it for
How much you profit
And overall estimating the costs of the business
Set up business entity formalities
Sole proprietor is a company entity of how a business operates, for this I learned that you must file an application.
Corporations are an individual that holds your company, so you yourself will own the company as well as be an employee for your company.
Branding
Some things that I learned from this section is learning how to create the “front image” of your business, includes domain name, setting an email fro your company, logo, main mission of the company meaning what the company stands for and his purpose, websites, business cards etc.
Brainstorming about your business and what you will be selling or promoting
Whether is people buy a lot of it
People want it?
Popular?
Is it something that can improve the world
Can this solve common problems
Etc
Identifying also risks or problems that can come your way is another good way to plan so when these problems strike you have them resolved
Like seeing if your will have a lot of competitors what will make your product different
Your target of who you want to sell the products to
And if your are skilled enough to produce this product
Listing out the resources you will be needing such as tools
Products that will be needed frequently
Skills is another thing you will need to plan out what skills you have and need to learn to further improve your business
Where you will be selling you
BUDGETING estimating how much it would cause to produce the product and how must you will be selling it for
How much you profit
And overall estimating the costs of the business
Planning throughout your day is crucial to stay focused and hold accountable of what you are doing in order to stay organized and productive. There are Many online free tools that were suggested like TRELLO, TOGGL PLAN, CANVA PERSONAL PLANNER & MY STUDY LIFE
Another way to manage time is to track time for example keep track and log what you do at every hour of the day, categorize each activity as how productive or necessary it can be.At the end of the day this will help see if you are completing all your task the right way, check how you are spending your day, and avoid multitasking
Health & productivityMaking sure that you are healthy physically and mentally is very important and an essential factor which affect how you perform during your tasks For example physical exercise, set yourself a schedule on incorporating a small routine and setting a reminder Small gadgets like small barbells, ankle weights, grip strength etc And picking an exercise that will be fun and enjoyable for u
Mental health Ways to sustain a good mental health is giving, helping others or giving others opportunities to help are ways to make yourself feel happy and better, volunteering in charities or helping elders etc Eating healthy give your body the proper energy and credit that you feel good about because your are treating your body with the right fuels And sleeping well will give u energy and enough rest to continue your next day with success
Another way to help you mentally is overcoming fearsNot letting fear get to you advances your skills and ability to perform in duties and tasks Bc you don’t let them hold u back
some things I learned was that it’s very common to feel unhappy and stressed as a human but there are many techniques used to help cooperate with them you have control of how you feel and whether u choose to be mad or not, no one can make u mad but yourself Your bad reaction to other people actions towards you is you letting them control you because that’s what they want a bad reaction from you Lower expectations, aim for greater but keep in mind not everything will go the way u want it toIDENTIFYING POSITIVE ROLE MODELS & MENTORSIt’s important to have someone u look up to which can provide long term motivation & inspiration Mentors are people who offer to teach and give you help advice & support for less experience. Forming a personal connection is a must