Ever thought of starting a side hustle selling hair lice removal services?

That's exactly what Timika came up with when she realised she wanted to make more money to retire early and take a sabbatical. She did the research, put up a bit of money and in her first year made 6 figures in sales. In 3 years she hopes to take her first sabbatical.

You'll love her story.

We also chat about...

Timika's money journey
How her divorce affected her finances
Taking sabbaticals
Her entrepreneurship journey starting a lice clinic
Having the confidence in the value of what you're providing
How you can start your own lice clinic business

Enjoy this chat with Timika, and please subscribe to us in iTunes if you enjoyed it!

Show notes and links from today's episode

Blog: The Reluctant Frugalist
Dave Ramsey
Joshua Sheats - Radical Personal Finance
ChooseFI

Key takeaways from our chat with Timika
1 - Managing a business is about confidence
Contrary to many other entrepreneurs, Timika wasn't a kid selling cookies and managing entrepreneurial ventures at a super young age. And yet, she is now managing a 6 figure business that is fast tracking her path to FI. She tells us that her biggest hurdle was confidence. She learnt to speak in front of people, to believe in her skills and deal with rejection. She now encourages her daughter to do the same, she now has her own Minecraft channel!
2 - You can set up your own lice clinic
Although it may seem like an odd side hustle to have, Timika's thought process behind starting her own lice clinic makes a lot of sense. She only had to invest $25,000 to get it started - the price of a car - and the return was substantial. She went to a lot of other lice clinics to take note of profits and see how the system worked.. She also went to talk to other business owners and analyse their strategies and techniques. She did the numbers and the research, and now has a business making her good money.
3 - Consider a sabbatical
Instead of trying to accumulate as much as she can to reach FI, Timika will be taking a sabbatical in 3 years. She's a school nurse, and her school allows her to take a year off and come back to the same position a year later. She says this a great time to be with the kids, and wants to take them out of school, do some travelling and homeschool them for a while. She wants to enjoy the moments with them and knows a sabbatical will allow her to do exactly that. How about taking a sabbatical and getting a taste of what FI would feel like?
Questions? Like or dislike? Leave us a comment!
Want to support the podcast? Here are three things you can do.
1. Start tracking your net worth with Personal Capital using our link. It's free.
2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week.
3. Join our Facebook group and connect with other members of the FI community.