DAY 11: Multiple Income Streams Is Good, But Start At One First

It is great to have multiple streams of income. In fact, you can't be comfortable in life and attain financial independence with just one income/salary.

But many people fall into a grave mistake of trying out so many things at once without becoming really good at one first. The key to becoming extremely wealthy is to have active and passive streams of income. But you must start with one. Become very good at one thing. When your name is mentioned, one major thing should come to people's mind. Monetise that one thing. When you have, then start to seek a second and third income stream.


Like I said in the article Get rich ...real quick, if you are having issues deciding whether to start with your degree or your talent/passion, let me explain it again:

 Write out all the things you can do, the talents you have and the degree(s) you have. 
List them under two headings , for example, a zoologist who also likes to play football;

	My passion for it (if I am not paid to do it)	My likelihood of becoming a millionaire doing this
1	Play/watch football	Zoology degree
2	Browsing	Make money online
3	Zoology degree	Sing for money
4	Sing	Play football for money
5	cook	Cook/set up a restaurant

In this example above, the individual needs to find a balance. He must start with the #1 thing that can bring in money now- use his zoology degree to get a good job, and set a goal to become an expert at it in 3 years. Then begin to develop ways in which he can make money online, after that, he can join a band and sing for money in his weekends.

Let's look at a female medical student who loves to read, write, debate knit/crochet, and also cook

	My passion for it (if I am not paid to do it)	My likelihood of becoming a millionaire doing this
1	Read/Medical school	Medical degree
2	Write	Become a freelance writer/author
3	Speak and debate	Become a public speaker
4	Crochet	Set up a restaurant
5	cook	Knit and sell items for money

In this example above, she first needs to concentrate on her studies while developing her passions for writing and speaking by the side. 

She can join a book club, write articles for her medical school journal, develop her speaking talent in her fellowship, or by becoming a student senator. 

There is no hard and fast rule, but once you know what you want and where you want to be, start somewhere, and you will eventually get to the place of your dreams. Make money in one first, then you can save towards developing yourself to invest or make money in your other passions.

Do you think this applies to you? Please drop a comment and let me know. Thank you.