Back in 2013, Jannese Torres found herself facing a layoff from her engineering job, where she was earning $80,000 a year. Instead of letting this setback discourage her, she decided to focus on her side hustle – a food blog called Delish D’Lites, inspired by her Puerto Rican heritage. Little did she know that this decision would set her on a path to financial success and independence.
As Jannese delved deeper into the world of personal finance, she realized the potential of her side hustle and began to explore other income-generating opportunities. This led her to launch a money podcast called Yo Quiero Dinero five years ago, where she shared her experiences and insights on building wealth with her audience.
Today, at the age of 39, Jannese boasts seven income streams that bring in an average of $37,394 a month in revenue. These streams include affiliate marketing, blog and podcast ads, speaking engagements, digital courses, AirBnB rental income, and brand partnerships. What’s even more impressive is that $9,300 of this monthly income is passive, allowing Jannese to earn money even when she’s not actively working.
Despite her success, Jannese emphasizes the importance of patience and perseverance when building a sustainable business. She didn’t leave her 9-to-5 job until 2021, showing that it takes time and effort to grow a successful venture. Jannese advises aspiring entrepreneurs not to succumb to the pressure of creating a six-figure business overnight, as it is not a realistic expectation.
One of the key pieces of advice that Jannese shares with her audience is the importance of knowing your numbers. She highlights the significance of tracking your income and expenses regularly to stay informed about your financial progress. By investing in accounting software and maintaining a daily record of her finances, Jannese was able to make informed decisions and cut out unnecessary expenses in real time.
To help others navigate the financial aspects of running a business, Jannese provides a comprehensive guide on setting up a robust financial management system. This includes steps such as separating personal and business finances, choosing an accounting method, creating a bookkeeping system, developing a budget, managing cash flow, planning for taxes, and monitoring financial performance.
By following these steps and seeking advice from accounting and legal professionals, entrepreneurs can ensure that their business finances are in order and compliant with regulations. Jannese’s own journey to financial independence serves as a testament to the power of financial literacy and strategic money management.
In conclusion, Jannese Torres’s story is a testament to the possibilities that arise when one combines passion, perseverance, and financial acumen. Through her journey from a layoff to multiple income streams, Jannese has shown that with dedication and the right mindset, anyone can achieve financial success. Her advice on knowing your numbers and setting up a solid financial management system serves as a valuable resource for aspiring entrepreneurs looking to build their own path to financial independence.
