These days having just one source of income could be disastrous. let's know if you share this view and how many streams you've got. Specify please.

At the moment i have just 2 - revenues from my paintings and dividends from stocks.

I hope to have 3 more before the year's over - from a regular job and 2 other businesses

for me, im still in school

Are you sure that all your streams of income are comparable in size?  Because if you are earning $2000 a month from your paintings and only $50 a month from your stock dividends then you are not much better off than if your only stream of income was the arts business!  So we need to know the comparative size of each stream.

@seun
you're absolutely right. though at the moment,the streams are not comparable but i hope to grow both but right now i'm in search of a job preferably in an oil and gas company.
that should be a regular earner too.

Seun:

Are you sure that all your streams of income are comparable in size? Because if you are earning $2000 a month from your paintings and only $50 a month from your stock dividends then you are not much better off than if your only stream of income was the arts business! So we need to know the comparative size of each stream.

My major stream of income is the advertising on this forum. Nothing else comes close.

Is that because its in $ $ $ $   

It is not a bad idea if you have streams of income but I strongly feel it is better to do one thing at a time

I have just got two, one from my regular job.

the second from the interest paid on my savings account

looking for the 3rd,

Shock horror, Seun your going to go into advertising through this site (Why does that not surprise me). I hope you find a good balance and don't spoil (Over populate) the forum look. I know this forum is a standard forum, and can be purchased at a reasonable cost ($60 / year including hosting) but you have done a cracking job so far. The stats speak for themself. Keep it up.

I only have one source of income (my job) and "YES" it is probably not the best idea to rely on 1 stream (Or trickle in my case) of income. I am seriously looking at investing in Nigeria when the right opportunity comes along.

soon to have

Shock horror, Seun your going to go into advertising through this site (Why does that not surprise me). I hope you find a good balance and don't spoil (Over populate) the forum look. I know this forum is a standard forum, and can be purchased at a reasonable cost ($60 / year including hosting) but you have done a cracking job so far. The stats speak for themself. Keep it up.

i wonder what this has to do with the topic.
@poster, my income for now is my salary, then outside work from people like Network/systems management and optimization, but saving money to complete my academics.

Just one at the moment, my regular job.

As at now, i have one stream of income which is my business. Still looking for another source of income through a form of financial investment. I'll use the Return On Investment to create another stream of income into my reservoir this in turn will generate another until i achieve incomparable size multiple streams of income

I also package and give away information products. You can download the one i attached below on how to become a web service provider.

Two and half

are you trying to laff @ some of us?! for now, it's mainly the salary!
hope to diversify very soon as for now i don't count the mini-income from stocks as 'income' yet.

need to really brain-storm on this matter as time isn't on a young man's side anymore. . . . .

I need to brain-storm to (this is a form for me).



@Topic

1)Like the post starter one of my streams of income is from painting, it's not consistent so cannot be classed as a fixed income.

2)Day job (desk bond) remuneration based on  commission. 

3)Selling vintage high-end designer goods on ebay.

4)Property (asset)considering  turning it into income based.

Muiltiple streams of income is the answer.You don't need to pack all your eggs in a single backet.Diversify and expand your means.Any venture or business that can give values to people and also solves and provide a solution to a problems would do.Look around your environment,there are many problems waiting and beckoning to be solved.Provide a solid solution to these and people would be just happy to flood your pocket with cool cash.Be a solution provider and see yourself smiling to the bank always.

Presently, i have a day job as a web developer, and i spend my weekends freelancing web design jobs.

Believe it or not, this month of May, I finally achieved 5 streams of income.

1. My banking job

2. Recently took over management of an IT firm that was making losses, but broke even in the first month of my mgt (thanks to God).

3. Own a kiosk very close to my office where I employed someone to sell recharge cards and makes calls.

4. Just started an online business that will make me an average of $400 - $500 monthly for now.

5. Own a ditigal capture and printing machine that I use right in my office to print passport photographs for my customers at N400 per 8 copies (profit is N340 ) so 3 copies per day takes care of many daily expenses.

At the start, forget about how much your new stream of income will make you in the short term, create it and nurture it and you will see it blossom. For example, something that made me 2k last month is going to make me like 40k this month and I have just started.

Most importantly, be bold, cos ITS IN YOU!

These days having just one source of income could be disastrous. let's know if you share this view and how many streams you've got. Specify please.

At the moment i have just 2 - revenues from my paintings and dividends from stocks.

I hope to have 3 more before the year's over - from a regular job and 2 other businesses


[size=8pt]Dear Segedo,I would be very interested in .
seeing the paintings that you do,I am interested in art work, paintings etc.I would also be very interested in your marketing technique regarding this issue.Have you got a galllery in Nigeria that stocks your paintings? do you sell thenm in Nigeria or abroad?My hope iss to eventually open a gallery in Lagos but I am still working on my plan and finances.
I also have a gallery in Ghana that is interested in vetting new paintings so if you are interested maybe we could do something together.Please get in touch.
[/size]

Dear Segedo,
I would be very interested in
seeing the paintings that you do, I am interested in art work, paintings etc.I would also be very interested in your marketing technique regarding this issue. Have you got a gallery in Nigeria that stocks your paintings? do you sell them in Nigeria or abroad? My hope is to eventually open a gallery in Lagos but I am still working on my plan and finances.
I also have a gallery in Ghana that is interested in vetting new paintings so if you are interested maybe we could do something together. Please get in touch.

Yes i like the idea of doing some other little business were some money would come from. At the moment i work in a  medical outfit and also am thinking of doing jjewellerybbusinessin retail form.

Seun:

Are you sure that all your streams of income are comparable in size?  Because if you are earning $2000 a month from your paintings and only $50 a month from your stock dividends then you are not much better off than if your only stream of income was the arts business!  So we need to know the comparative size of each stream.

Seun this would be my First post calling your name lol i just dont call ppl's name much here.

well on the issue here may main Stream of incomes are
FX, Real Estate,Import and Export and Agency.
Still looking forward to Fish Farming very soon.

some one said its good to have one thing doing hmmm that's your thoughts but even the rich ones do invest or have more that one source of income.

[b]@all

multiple streams of incomes are measure differently. but its perfect and much more efficient if planned like this:

1. daily income flow: car hire, sales, phone call business, wholesales trade, etc
2. weekly: rental business, handy skills (hairdressing, tailoring, repair guy, etc), haulage, etc
3. monthly: salary/monthly incomes, rents from owned properties like shops etc.
4. yearly: stocks, bonds, yearly property rents, etc

You just have to give yourself loads of options and pick one. I started building mine 2 years back, and I feel I still have 8 more years to get a clear picture of that great flow of incomes.

Back then here was what my list looked like:

Engineering Career
Apprenticeship in Bulletin Construction company or J'Berger (3 yrs)
Extra Degree in Public Relations or Construction Management
Building a large multiple rooms and parlors somewhere in Mowe, with plenty shops infront of it.
Owning a bar business.
pouring my salary into a transportation business, from lagos to ghana, (usually, long distance pays more and you dont get cheated plenty by the drivers).
getting an MTN or Zain dealership which would be handled by one of my younger folks and monitored by me.
building a nursery and primary school (which was easier to run back then)
owning a poultry and going into eggs production.
etc,

I asked for several ideas about what im overlooking and its funny that it was just 2 years ago, my list is much more modified right now. I long discovered that I will always need more and more education no matter how farther I journey towards my dreams. The more I learn about different businesses and the risk and gains, the more I see its not my line, And the more I put into it. And the more I understand the meaning of the word "Synergy" 4/4 is better than 1/4.
Just make a sumptuous list, do your "Historical, Diagnostic, Evaluative and Action Research" and in the next 2 years, you will be much more closer to getting this multiple flow. At-least right now, I score myself 7/100. That's progress as long as I don't give up.[/b]

aasog:

[b]@all

multiple streams of incomes are measure differently. but its perfect and much more efficient if planned like this:

1. daily income flow: car hire, sales, phone call business, wholesales trade, etc
2. weekly: rental business, handy skills (hairdressing, tailoring, repair guy, etc), haulage, etc
3. monthly: salary/monthly incomes, rents from owned properties like shops etc.
4. yearly: stocks, bonds, yearly property rents, etc

You just have to give yourself loads of options and pick one. I started building mine 2 years back, and I feel I still have 8 more years to get a clear picture of that great flow of incomes.

Back then here was what my list looked like:

Engineering Career
Apprenticeship in Bulletin Construction company or J'Berger (3 yrs)
Extra Degree in Public Relations or Construction Management
Building a large multiple rooms and parlors somewhere in Mowe, with plenty shops infront of it.
Owning a bar business.
pouring my salary into a transportation business, from lagos to ghana, (usually, long distance pays more and you dont get cheated plenty by the drivers).
getting an MTN or Zain dealership which would be handled by one of my younger folks and monitored by me.
building a nursery and primary school (which was easier to run back then)
owning a poultry and going into eggs production.
etc,

I asked for several ideas about what im overlooking and its funny that it was just 2 years ago, my list is much more modified right now. I long discovered that I will always need more and more education no matter how farther I journey towards my dreams. The more I learn about different businesses and the risk and gains, the more I see its not my line, And the more I put into it. And the more I understand the meaning of the word "Synergy" 4/4 is better than 1/4.
Just make a sumptuous list, do your "Historical, Diagnostic, Evaluative and Action Research" and in the next 2 years, you will be much more closer to getting this multiple flow. At-least right now, I score myself 7/100. That's progress as long as I don't give up.[/b]

Why do you need to pick ONE option?

aasog:

Option: one of a number of things from which only one can be chose. It doesnt mean youve discarded the rest. Start with one, when thats established and growing, move to the next.

What if you have 3 running concurrently (my 1st post explains).

I need to brain-storm to (this is a form for me).



@Topic

1)Like the post starter one of my streams of income is from painting, it's not consistent so cannot be classed as a fixed income. (I have no idea about painting)

2)Day job (desk bond) remuneration based on commission. (I am not conservative in nature, so its not something i've ever experienced).

3)Selling vintage high-end designer goods on ebay. (ebay? are you sure you are a Nigerian?)

4)Property (asset) considering turning it into income based. (we can talk on this, and this takes a lot of money, but with good location, shrewd planning, it will work)

aasog:

I need to brain-storm to (this is a form for me).



@Topic

1)Like the post starter one of my streams of income is from painting, it's not consistent so cannot be classed as a fixed income. (I have no idea about painting)

2)Day job (desk bond) remuneration based on commission. (I am not conservative in nature, so its not something i've ever experienced).

3)Selling vintage high-end designer goods on ebay. (ebay? are you sure you are a Nigerian?)

4)Property (asset) considering turning it into income based. (we can talk on this, and this takes a lot of money, but with good location, shrewd planning, it will work)

These are all projects that are ungoing. I live in the UK.

I have three (3) Streams of Income and have started working on a Fourth (4th).

1. 2 Regular jobs earning N100,000 & N470,000 monthly. I used my monthly earnings to build a third stream.


2. A Co-operative Business earning about N491,000 monthly.

3. Property: Have started developing a rental apartment which will be completed before August 2010 as my 4th Stream.

4. Am looking at Haulage or Filling station businesses as further streams though these ones are still in the pipeline.

The more the streams, the better.

raldsfield:

I have just got two, one from my regular job.

the second from the interest paid on my savings account

looking for the 3rd,

@despam, you say you do two regular jobs earning N100k and N470k respectively per month, pls do you mind telling me what kind of job they are "respectively" and how you manage your time -doing both![/font] thanks