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Why You Must Have Multiple Source of Income

Do you know that, to have abundance and fulfillment in life, you must have considered how you can independently make money from different source at a time? Life today is not funny and when I hear people saying, this one is not working for me so let me hold to just this one or my job or my Boss won’t allow me, why introducing me to another new one and so on, hmmmm, I just smile and work away because often times they either beg people for money, take soft loans or live very low. Financial problems can bring so much embarrassment like marital crises, loss of position in the family, illness, pain and can even cause death. Are you in any of this mess or you want more money hitting your bank account? then you need to read this to the end.  Unfortunately,  money does not recognize state of origin, educational background, status, personality, class, race, gender, it is not a respecter of persons and has one significant cure. It can only bow to financial intelligence only. Years back creating another source of income was very difficult and expansive. Things have changed today guess the internet have made dreams come through its now faster, affordable and simple.

Definding Multiple Source OF Income: means to generate revenue from more than one source. It is a means of creating wealth through several other ways of businesses, a way of achieving financial freedom.

Why Multiple source of Income: There are several reasons why we need income, understanding Abraham Maslow hierarchy of needs you will agree with me that our needs are in precepts, inevitable and almost similar to another. We need money for our family comfort, to actualize our self-worth and other social challenges that could emerge like Market Trends, Economic Recession, Cooperate Downsizing, Law Suits, New Legislation, Merger and Acquisition and so much more.

Factors to Consider: Multiple source of income is not as ambigus as we think if we know the tricks, do you really know how cool six digits could be when you get alert from different sources?  you will look for a way to start making it happen right now. When you can dream it you can do it, where there is a will there is a way and the following can help you make some choice so you can have few more sources:

*Flexibility- you call the shorts at your pace and time, can they be done at your convenient time and home.

*Sustainable- you must choose something that can eventually function without you look for that system and participate

*Inexpensive- it must not require too much money to start

*Simple- It must be simple to understand and manage

Advantages of Multiple Source of Income

  1. It helps you create good environs , fruitful life, peace of mind ,good health and longer life
  2. It provides diversified revenue source, collapse of one job will not result to a complete loss of revenue
  3. Helps maximize potentials, earn more making you live bigger and better
  4. The risk of financial failure is reduced, you will never get broke
  5. The future of your family is more financially secured
  6. It help you to be adventurous vast and informed all over world

Disadvantages of Multiple Source of Income

There are few challenges but when you see the gains you will agree with me that taking financial risks and making multiple financial investments outweigh the potential problems, fears and exercising too much caution. By the way show me the rich who have not lost money? absolutely none.” To win big, you sometimes have to take big risks” Bill Gates

  1. To start-up, most times for each source to yield income it must consume time , energy and intelligent work
  2. To keep up and top all task needed can be worrisome and difficult
  3. For it of be very profitable you will have keep a balancing act and this implies to most of the investment business need you to sometimes introduce more affiliate before you can earn ten times your salary.

How Do I Identify and Start My Multiple Source of Income and Attain Good Success?:

*You must check your present job structure and how much time it takes this will help you plan the rest of time, choose a passive income that can help you generate revenue while you are not there “if you don’t learn how to make money while you sleep you will work till you die” Warren Buffet.

*learn how to identify   and categorize them into product\service that you can do at your convince it is advisable to choose, service or product that interest you most and you have great passion to learn and do.  Note don’t get confused what you choose as passive income can be someone else active income depending on you and how much you want as returns.

*Invest on the latest trends of business that can give positive results as soon as possible, remember you must work first then it continue, these products and services can be books, once its written you can sell over and over again, videos\audio, licensing your idea, affiliate marketing, criptocurrency trading, continuity programs, franchising, consulting, public speaking, freelance writing all this mentioned can help you generate money make you get paid and promote you.

*Start one after the other  it can be time consuming so don’t jump into them at same time but also know that without commitment you will never stat and without you been consistent you will never finish one and take another.

* It is not a do or die affair all must not work for you at same time so concentrate on the once giving you results more but peradventure you fail or hate it you can drop it. Remember adding multiple income most times is from a system that is already in place established by someone or institution.

Have you considered or you are having fear and confused on how to start? Do you need information and how you can be mentored? Then write to admin@internetbuisnessinnigeria.  you will be glad you did and we are waiting to teach you how you can learn while you earn. If you want to walk fast walk alone but if you want to walk far work together.

Thank you for reading and visiting our blog we hope this was informative, your comments will be appreciated.

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