SOURCE OF INCOME, DO YOU HAVE JUST ONE?—Part 1
Whether or not you’re an author or entrepreneur, or a 9-to-5er, your source of income affects you at the heart of your world…
Being out of work is a horrible thing.
So many people right now, because of the coronavirus, are stuck at home with nothing constructive to do.
Much worse, they are not making money to pay bills—bills that keep coming no matter what the circumstances are!
What adds to the stress and anxiety is not knowing how things will go, how quickly things will get back to normal. Will it be a few weeks or months? Will things ever be the same?
This article is not about doom and gloom. It is a means to a happy ending. But…
This is a wakeup call.
SOURCE OF INCOME
This is a call to your good senses of the importance of having more than 1 source of income.
As we’re all witnessing, even in a strong economy—one of the best we’ve ever witnessed in our lifetime—we can suddenly find ourselves helpless with no options but to wait things out with stress levels high and anxiety abound.
The threat of survival is tough to endure. This is proof, a rude awakening really, that we cannot have all of our bread in one basket, as the saying goes.
We need to have more than one source of income for ourselves.
MULTIPLE STREAMS OF INCOME
In fact, we need several streams of income for just this kind of situation we’re in today.
The reason for this is because when something happens in the environment that temporarily destroys your income for that particular activity, you are not stuck with no options to rely on.
That is NEVER a good thing. You need to have a PLAN B, not on hold but already in place and in operation. You must have one or more other activities that will continue to produce as a source of income.
In today’s world, this means:
- To have a job is not enough.
- To be an entrepreneur and only have a product or service in one area is dangerous!
- To rely on one source of income sets you up for sudden and severe disaster.
After the roaring 20s when the Great Depression hit seemingly overnight, many of the richest people of their time literally jumped from windows to their death because they were suddenly broke. I’m referring to people who only had stocks as their “wealth”.
This is just one example that history shows about the importance of having multiple streams of income.
Right now, we can look around and witness this to an incredible degree, something we could have never predicted or thought were possible. Millions of people are unemployed without any real warning.
To say, “It happened overnight,” is no exaggeration. The suddenness of it has just made it all the more severe for so many people.
So, knowing how to create multiple streams of income is the solution!
WHAT IS SOURCE OF INCOME
Merriam-Webster dictionary defines “source” as: “a point of origin or procurement.”
The word “procurement” is perfectly included. Its base word, “procure” means “to GET something; bring about or achieve.”
This immediately shows that a source of income is created; it’s gotten or brought about by achievement. This dispels that fallacy that some people and politicians have that money should “flow” from the government to everyone, and “everything should be free.”
Nothing could be more ridiculous. And any politician who makes such a promise:
- Doesn’t know how to make money and
- Thinks money is made by either printing more or taking it from those who DO. Neither of which will work for you in the long run simply because it is not how money, food, education … comes to anyone.
In order to have REAL sources of income for yourself—the kind that will actually keep you out of hot water long term—you have to roll up your sleeves, hunker down, and get to work for yourself.
This is actually the secret to immense success that a lot of individuals don’t want you to come to realize! That working for yourself, being your own boss, and being an entrepreneur is the best way to create wealth beyond any dream ever dreamt.
This doesn’t mean you need to quit your day job if you have one to go back to after all this mess is behind us, whenever that might be. I’m suggesting that you consider creating more financial options for yourself that allow you to be more independent.
More independent of your boss, the government and even your customers if you’re already a business owner.
— — —
NOTE: I am writing this on the fly and putting together, as fast as I can, a solution to this out-of-work dilemma so many people are in.
Understand that NOT EVERYONE IS OUT OF WORK.
There are thousands upon thousand of individuals who are fast at work right from their homes, unaffected by what is happening in this economic crisis.
And you can be busy making money too in any economy.
I apologize for ending this article here, but it’s important to get the conversation going on this topic and SHED HOPE AND EMPOWERMENT THAT THERE IS A SOLUTION for you if you are not making money right now.
I will continue publishing on this as quickly as I can. Being hard at work, with more than one source of income, I don’t have a lot of time to share this invaluable information, but I know it’s the right thing to do.
My plan, as my passion drives me to get this truth out, is to post every day over the coming week. I can’t guarantee I’ll pull it off, all while putting together a real solution, but I will do my best to share this with you as quickly as possible.
Se you soon,
Robert Nahas, CEO
Writer Services, LLC