Hello Team JSE,
This is a weird post.
But, no less than 50 people have asked me this question, “What are all the ways you earn money?”
First, I’m NOT going to tell you how much I earn with each revenue stream. I never have, and I never will.
This is an important lesson for you. And it’s to illustrate why it’s important to have a wide range of income streams.
Industries ebb and flow. Seasons can change sales volume. Each countries has strengths and weaknesses.
New competition, changes in Google’s algorithm, changing trends and unforeseen circumstances make multiple streams of revenue vital to high levels of financial success.
There is a very important lesson here: You must have multiple revenue sources.
What if your job goes away?
What if the major contributor to your local economy leaves (like a military base or large company)?
What if your source of client leads goes away?
You MUST have a back up plan, and a back up plan for the back up plan….. and so on!
Then, when you can get them all going at the same time, you are really rockin’.
Statistically, the average millionaire has 7 (SEVEN) sources of income.
Before we go further, ask yourself, “How many sources of income do I have?”
I will tell you this…. I, like most seasoned entrepreneurs, have a couple primary sources of income, and many secondary sources of income. Some of my secondary sources of income earn less than $20 per week. Yes, that little. But, when you have many of those, it adds up.
Here’s the list: [Read more…]