You need multiple streams of income. James Altucher said so. ” The average multimillionaire has 7 different sources of income and a job is only one source“.
Most of the books I have read talk about this concept. The very first book I read that stirred the fire in my soul about creating business opportunities on the internet was by George. G. Allen in his book “Multiple Streams of Income“.
In 2002 I attended a business seminar in Johannesburg. One of the speakers said “In the future, multi-million dollar companies will be run from home, with one employee”. I can’t remember the speaker’s name, but I never forgot what he said.
But on the flip side, people talk about focus. If you spread yourself too thin, you will never be a success at anything. Dr. Mani (my virtual mentor and role model) talks about this in his book “How To Focus: Stop Procrastinating, Improve Your Concentration & Get Things Done – Easily!“
I have been doing a lot of soul searching over the last few months. I am fifty two years old and I am nowhere near I wanted to be at this age. Does that mean it’s too late for me? Not according to Vic Johnson who wrote a book called “It’s NEVER Too Late And You’re NEVER Too Old: 50 People Who Found Success After 50“.
“It’s never too late to be who you might have been.” ~ George Eliot, 19th Century English novelist
With that in mind, I put together a list of what it is that I love to do:
- Designing websites
- Learning new skills
Then I took that list and looked at how I could apply it to my life and business. I ended up with several options, which were finally whittled down to 6 ways of generating income, while doing the things I love.
So the plan is in place. For this year I am going to focus on the following areas:
- eCommerce Web Design
- Teaching young entrepreneurs how to create their own business
- Selling my photographs on Etsy and Patreon
- Selling domains and web hosting
- Sell other people’s products for a commission
- Write books
But how do I do this without spreading myself too thin?
My primary love is writing and teaching. So that is what I will focus on. Each day I have committed to writing a post for my personal website detailing the plans and the steps I have taken to get this plan into place. By forcing myself to write everyday, it becomes a habit. This is non-negotiable for me. When I write, I make money.
The routine mundane activities are going to be outsourced, or done by my daughter. She will learn a lot in the process, and I will have fulfilled a wish that I have given her practical skills to help her in the future.
All the writing that I do, either for EzBiz Marketing or the youth entrepreneur program I am developing (Startup Business Today) will be re-purposed into different formats to expand the value of my writing.
Tomorrow I will show you how I handle the marketing for multiple accounts in just half an hour a day.
Bring coffee and donuts please.
P.S. If you look carefully at the books I have linked to, you will see an Amazon Associates link. What does that mean? It means if you buy the books I have recommended I earn a small commission. Yeah. Sneaky. I know!