Lesson 2:Learn How To Create Another Income Stream;Don’t Depend On Salary Alone

[ 0 ] March 9, 2012 |
Hi Everyone,

Its been another great week. I hope you found time to read the previous article.

You need another source of income. Do you know the truth – you need at least 4 sources of income, !!!

4 is the number of stability. We speak of the four corners of a house, four cardinal points of the world and 4 tyres of a car. 4 means balance, stable, well grounded.

As an individual, to be stable and well grounded in life, you must have 4 sources of income at least. And i’m not talking 4 businesses. i mean 4 categories.

1. Regular income (monthly/weekly/daily) from a job/business
2. Income from a business (unspecified)
3. Income from financial investments
4. Income from real estate

Regular income to pay for regular bills – utilities, food. transport, generator fuel, rents and your own staff (driver, laundry & maid) salaries

Unspecified income from doing business – which when very large should be invested in financial instruments or land and when small, reinvested back into the business.

Income from financial investment – should feed more investments and land upgrades – construction, renovation or just go back into more investments in stocks, bonds, debentures, treasury bills, fixed deposits, forex, commodities etc.

Income from land – should be invested in acquiring more land or more investments.

These 4 categories of income will make you a wealthy man if well managed.

Dont say i dont have the time to do business with my kind of job. Find a business you can do with your kind of job. The truth is if you’re not lazy, there’s no job you can not merge with some business. I assure you. I’ve worked various jobs but i’ve always found a colleague or someone on the job still able to do business.

Do you know what business you want to start already?

Dont delay. start today. Often you’ll find that if you dont move today, by tomorrow someone has replicated your idea and is making money off it.
                                MOVE TODAY. START NOW. GO FOR IT !!!!!!!
      Source:http://www.nairaland.com/nigeria/topic-604982.32.html#msg10362319
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Category: Be your Own Boss

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