ERROR OF MULTIPLE STREAMS OF INCOME

Everyone is excited about the idea of "Multiple streams of income"

It means having money coming from many sources.

To be correct, the Rich have multiple income streams. Only the poor have only one source of income. It's a sign of Poverty - lack of options

However there is an error in trying to acquire multiple income streams that prevent people from ever becoming rich.

It is trying to have multiple when they do not have 1

Many people dissipate their energies into trying to make money from many things when they do not have any one stable source of income.

To have multiple streams of income you should first have a stable primary source of income.

See the Rich, they usually have a primary source of income they initial concentrate on, (their business, a skill, a Job)

They grow this income stream to make them so much money, they milk the hell out of it.

They now begin to branch and diversify only when this primary stream is stable and flowing heavily.

They don't leave a business that is doing poorly to go and try another business only to leave that one before it becomes stable to try something else in a bid to have multiple sources of income.

They focus on one thing. Succeed at it. Then carry their Success and the resulting money and momentum into the next thing.

Success at source no.1 affords you the money, confidence and momentum to succeed at source 2 then 3 etc.

Master your primary source of income first. Build you business to standard. Sharpen your skill to expert levels.

Start making a lot of money from that one source. Make the source stable and regular before you shift focus to something else.

Chasing two rats at once you catch none. That is the problem of many poor people trying to get rich.

But when you catch one rat kill it, bag it. You can have the focus and energy to catch another rat. Understood?

Alright, now let's go right out and catch some rats.

See you at the top

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© Dr Adiemea Obed

Business strategist, Writer, Thought leader.