The reason you have been struggling with financial difficulty is because you have multiple streams of income.
That was what my friend once said, Sir Friday Williams ( An Importer and an Event manger)
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Moreover, I totally agree with his view of having multiple sources of income.
He shock you?
.Stop looking at me like that. I know you’re getting mad at me on this point. You are like “Johnmiracle why are you supporting rubbish.
Don’t leave me until you read to the last of this post, and you will get an answer to why multiple streams of income can make you go broke.
What is Multiple Streams of Income
Having a multiple streams of income simply means one has several sources of generating income either in the active or passive form.
This is quite self explanatory anyway. But for example. I have a job, working in a printing press, and I do get my monthly wages from there.
Also, I do get some income potential through affiliate marketing, blogging and freelancing.
In short, I have a multiple sources of income.
Why Having Multiple Streams of Income will not make you rich?
You’ve always been taught to have multiple streams of income to attain financial stability. And the richest people in the world are used as an example of having multiple streams of income.
I concur with that.
𝘽𝙐𝙏 𝙏𝙃𝙄𝙎 𝙄𝙎 𝙒𝙃𝙔 𝙔𝙊𝙐’𝙇𝙇 𝙔𝙊𝙐 𝙒𝙄𝙇𝙇 𝙁𝙊𝙍𝙀𝙑𝙀𝙍 𝙍𝙀𝙈𝘼𝙄𝙉 𝘽𝙍𝙊𝙆𝙀 𝙁𝙊𝙍 𝙃𝘼𝙑𝙄𝙉𝙂 𝙈𝙐𝙇𝙏𝙄𝙋𝙇𝙀 STREAMS 𝙊𝙁 𝙄𝙉𝘾𝙊𝙈𝙀.
In the period of 3years, you’ve started 5 Business. Now, let me ask you.
Are you now rich? Hell NO.
Because you’ve been told to have multiple streams of income. In the space of 3years, you’ve done .
- Affiliate Marketing
- Web Development
- Graphics Design
- Freelancing and lots more
Do you remember this phrase?….
A master of all is a master of none
Jack of all trades, You lack FOCUS.
All in the space of 5years and you’ve not been able to achieve financial freedom because you’re not focused.
But someone consistent with only mini-importation within this space of 3years is now 50x financially buoyant than you are.
Do you now see why having multiple streams of income will not make you rich?
Okay, come to think of it.
Do you even think about how long Mark Zuckerberg operated Facebook before he started buying other social media platforms?
Facebook is already a success.
Mark Zuckerberg is already listed among world billionaire before he acquires WhatsApp & Instagram.
Before you venture into another business, gain mastery in the present one and be successful in it even if it’ll take you 5years to grow mastery.
Else, you’ll keep going back and forth without recording any tangible success in any of the business you’ll venture into even for the next 10years.
Please, I am not saying that having multiple sources of income is bad.
Of course not, It is highly advice able to have multiple streams of income.
And if you have wanted to ask me.
Johnmiracle Do you have multiple streams of income?
My answer will be. Yes! I have several running multiple streams of income
Do you remember this phrase that says?
Don’t put all your eggs in one basket.
But then, master a craft first, and then another.
Take it one at a time so you can be successful in all.
Focus is expensive but try as much to be focused.
Let me gist you How I started my 6-7 Figure income company Mitrobe Network & Academy
How I Created My Multiple Streams of Income Overtime.
Alright, it was down on me when I got into the university.
I needed not to depend on my parent totally in terms of finance.
I have to make money, But how. When I have lectures all the time.
We’ll, I taught of what will work, then Digital Marketing came to my mindset.
I hope you know how broad the digital marketing business is.
It comprises of the following.
- Affiliate marketing
- Social media marketing
- Search engine optimization
- CPC & PPC advertising and lots more.
But then, there’s no capital as at then to get certified and to start up my agency.
So I decide to get a side job, also while going to school.
Meanwhile, out of all the Digital skillset, I picked out Blogging to startup with.
I then used the income stream from my side job to fuel my Blogging career.
Gradually, I gained more momentum and then upgraded my Blogging platform from a free platform Blogger to WordPress.
I made my first $100+ in my first month of blogging on a free blogging platform, and I shared how I did go about it in my First Year Blogging Anniversary.
Well, that gave me a boost and then I taught if I can make much money on a free platform then I will make more on a professional platform.
That how I came about launching mitrobe, which has turn to be my multiple source of income for life.
Meanwhile, I mastered how to blog first of all, and then I learned another skill set that’s closely linked to blogging, and that’s SEO.
Oh yea, I now earn from my blog and also provide blogging freelance services (like article writing, SEO).
Now, understand the fact that I mastered one skill over time and then I add another, and other. Just like that.
Having multiple sources of income is compulsory stuff for anyone that wishes to attain financial freedom.
Moreover, I have even shared top skills that can serve as a passive source of income for anyone.
But then, if you approach having multiple streams of income with a wrong perspective you might go broke.
How to Build a Multiple Sources of Income
Here is my advice on how to go about building successful multiple streams of income in 3 stages.
- Decide on what to do
- Have a plan
- Be consistent
Decide on What to do
The decision is the key to taking action.
There are a lot of side jobs you can build up as multiple sources of income.
So you have to decide on the ones you are to start with.
Have a Plan
Planning will remain the core step to take, remember the phrase that says.
If you don’t plan, you are planning to fail.
So first, you make a proper planning of how you want to build your multiple source of income.
For example, I decided to build my multiple sources of income with Digital marketing.
But then, I have to start somewhere.
I cant acquire all the digital assets so easy, so I start with Blogging, and then SEO, Freelancing, and so on.
So you need a base, make proper planning before you start at anything.
Having multiple streams of income is never going to be easy.
So if you are not consistent with what you do, then no hope for you.
And that’s why I said, first master a skill set, and of wish, you must have acquired something worthwhile with it before launching your next source of income.
What will you expect? A disaster.
7 Best Multiple Stream Of Income Ideas
Here are some best multiple streams of income ideas you can try today.
- Information marketing
- Network Marketing
- Real Estate
Blogging is now popular with multiple source of income.
Well, it is a skill that pays off without you having to work actively on it.
There are no limitations to how much income you are going to make.
Moreover, several types of blogging tools are available both in free or paid to get Blogging right for you.
The most amazing fact of all Is that you don’t need programming knowledge to have a blog.
Other multiple streams of income idea for you are the information marketing businesses.
Do you know what it is?
Have you heard of it before?
Well, if you have bought or sold an eBook online, then you have partaken in information marketing.
Information marketing deals with creating, formatting, and launching a digital product for sale.
The best part of it all it doesn’t require much skill and it works in the form of marketing and automation.
That is your business can sell, deliver itself and you get your money even while you are asleep or away.
A must-have stream of income for everyone.
What skill do you have that you can offer to the marketplace in exchange for money?
It could be any of the following.
- Freelance writer
- Freelance graphic designer
- SEO consultant
- Logo designer
- Backlinks Builder
- Public speaker and lots more.
It all boils that to what can you do?
Meanwhile, they are a lot of platforms (like Fiver) that make freelancing a lot easier to get jobs.
Most people don’t accept network marketing.
But then, the World millionaires recommended it because if you don’t have a circle it will be very difficult to do business.
The only pressing problem people face on network marketing is they don’t know what it is.
In short network marketing should be seen as an avenue to escape financial constraint through the development of life skills)
You can become a landlord or a house owner, and this will pay you off overtime without you having to do any tedious job again.
One major reason why Real estate business is so prosperous is the fact that it has much to do with the basic of living.
And if you are an investor then foe sure you know that Investing in the basic necessities of life is the top most investment after all.
So make a decision today to be a landlord and start proper planning.
Forex trading is noe among the top rated high income skills so far so good.
It has eventually turn timids to great and wealthy millionaire, but then, the risk involve also need to be on check.
You can’t just jump into the Forex market to trade, there’s a need of professionalism so you don’t lost your capital.
And the amazing part of it all is that it may take you longer than you have ever taught of to Master the art Forex trading.
Are you aware that you can earn awesome amounts of money monthly byjust providing video content on youtube.
While you may not know how to do it. It is some top multiple source of income for most wealthy set of pupils.
The cool part of it all is that you don’t need to film any video to achieve success on YouTube.
Isn’t that amazing! Well, you may want to ask how possible is that, but then it is very possible click the link below to know how it slos done.
In summary having a multiple streams of income gives you an edge to financial freedom. But then, try as much as possible to avoid being “Jack of all Trade.
Neither, should you be a victim of “Putting all your eggs in one basket”. You have to balance the equation.
I hope you have gotten the right mind shift and you are looking forward to something great.* ADS**
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