I just got a comment from Angelika asking about multiple streams of income… it is actually a great question:
“Sounds great for freelancers and gifted speakers. But what could possibly be my other revenue streams if I am employed full-time, do not own a house I could rent out and nobody wants to pay me for speaking in front of them…?”
Wow. Excellent thoughts. I can do all of this stuff because, well, I have the time. I don’t have an employer breathing down my neck, having me work so much I’m too exhausted to do anything else. Here’s my response in the original blog post:
Great question. When I was working at my last job I read Multiple Streams of Income and thought “that’s nice… for other people. I can’t do that, I don’t have the time or energy or knowledge….”
I got into this because I was forced into it…. and over the last three years I’ve been able to discover the other revenue streams. I kind of happened upon them.
I don’t know what is right or best for YOU. I don’t know what your skills are. But I’m a huge advocate of doing *something* … like I mentioned, it could be something that simply produces $100 a month. Like babysitting, being paid to get groceries, walking dogs, washing cars in a neighborhood, teaching art or piano, etc.
The point is, figure out something that is beyond the employer’s paycheck… something that frees you of that complete dependence.
To take it a step further, here are some things that I know people do, or have done:
- A buddy of mine went on a juice diet. All juices, nothing else. He paid someone $1,000 a month to get him his food. This meant the service provider planned his meals, shopped for the ingredients, prepared the juice meals, and delivered them to his house.
- I was talking to a friend who has a neighbor who mows lawns in the summer. He makes about $5k/summer.
- When I lived in Northern Virginia I washed cars at townhouses on Saturdays with some friends. We had a bucket, a hose, soap, rags… and it was a breeze. It was like washing cars in a parking lot – we didn’t have to walk much, since everything was so close.
- Many of my partners have created reports, white papers, ebooks, teleseminars, webinars, and other knowledge-based materials that they sell. I contend that EVERYONE reading this blog has some expertise that they can turn into a product, whether it has to do with arts, business, processes, etc. Creating an ebook is as easy as opening a word document (well, maybe not *that* easy :p).
- I know two ladies who have created an arts-and-crafts website, translated it to Portuguese (their native language), and made it available in Brazil. I hear the google ads from that site pay for their house payment (in the U.S.).
I’ll feature some stories on the blog this year. There are some really inspiring stories I’ve heard.
I hope this isn’t too intimidating. Some of you will act on it now, others will let it sink in. Either way, I think it’s a great dialogue.
(and, it’s less intimidating than a long, scary job search – trust me!)