SOWPub Small Business Forums  
 

Click Here to see the latest posts!

Ask any questions related to business / entrepreneurship / money-making / life
or share your success stories (and educational "failures")...

Sign up for the Hidden Business Ideas Letter Free edition, and receive a free report straight to your inbox: "Idea that works in a pandemic: Ordinary housewife makes $50,000 a month in her spare time, using a simple idea - and her driveway..."

NO BLATANT ADS PLEASE
Also, please no insults or personal attacks.
Feel free to link to your web site though at the end of your posts.

Stay up to date! Get email notifications or
get "new thread" feeds here

 

Go Back   SOWPub Small Business Forums > Main Category > SOWPub Business Forum
Register FAQ Members List Calendar Search Today's Posts Mark Forums Read

SOWPub Business Forum Seeds of Wisdom Forum

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
  #1  
Old June 5, 2022, 10:52 PM
Dien Rice Dien Rice is online now
Onwards and upwards!
 
Join Date: Aug 2006
Posts: 3,102
Default Is it good to have multiple streams of income?

I was reading through one of Gordon's early posts... actually, one I had saved from a very early forum (from the late 1990s, believe it or not)...

It was about making multiple streams of income...

When you think about it, most people have essentially one stream of income - from their job...

Though, having multiple streams of income is becoming more common, as people add "side hustles" and so on...

Is having multiple streams of income a good idea? Or is it better to just focus on one?

I'm a believer in multiple streams of income...

Does wanting multiple streams of income make me some kind of kook?

During the pandemic, one of my streams of income dried up, due to circumstances beyond my control. It caused some difficulty, but... Because I had multiple streams of income, we "survived"... (That income stream which had dried up, is now back...)

The point is that having multiple streams of income gives you more security...

If one income stream dries up, you have others still going... So your income will not drop down to zero!

Also, there's a greater chance that one of your income streams will get great growth!

You can think of it as having more than one ticket to the lottery... With more than one ticket, your chance of winning increases...

And the happy giddiness that comes from it!

Of course, there's a limit. The best way is to get your income streams to the point where you don't have to spend too much time operating each one...

You don't want to carry the burden of a pack mule!

Maybe we can talk about that at a future time...

Best wishes!

Dien
__________________

Last edited by Dien Rice : June 5, 2022 at 11:15 PM.
Reply With Quote
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Other recent posts on the forum...


Seeds of Wisdom Publishing (front page) | Seeds of Wisdom Business forum | Seeds of Wisdom Original Business Forum (Archive) | Hidden Unusual Business Ideas Newsletter | Hotsheet Profits | The Art of Leverage | The Success Report | Persuade via Remote Influence | Affia Band | The Entrepreneur's Hotsheet | The SeedZine (Entrepreneurial Ezine) | The Fly Low Collect Dough Update Hotline

Get the report on Harvey Brody's Answers to a Question-Oriented-Person


All times are GMT -4. The time now is 08:21 AM.


Powered by vBulletin Version 3.6.0
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.