Monday, February 22, 2010

Multiple Sources Of Income

I had no idea how it would happen but it is happening. Not as fast as I thought but what ever happens as fast as we want?  
When starting this blog, I wrote that somehow a global blog would be built but I had no idea of how. As I wrote posts, the topics were only on thoughts, books, Leadership etc. and then I write a post about a goal I had set for myself and my family which was/is to generate several sources of income to create financial stability and secure our future. When I wrote the post "Creating Multiple Sources Of Income" it was during a time of soul searching after a business decision that nearly wiped out our income. No regrets, I would make the same decision again given the same circumstances. Without all the juicy details, I will say that when it comes to a decision of hurting people or losing my income, I will choose broke before I deliberately sacrifice the integrity of a friendship. Good friends are hard to find and even harder to keep.
Over time the post has generated a huge amount of traffic to this blog and the readers are from all over the globe. The trouble I see is that not many stay and read more and fewer comment. So I re read the post and realized that it has a narrow scope based on the circumstances I had recently experienced. I won`t appologize for this but will continue to give thoughts on the topic of creating  multiple streams of income. I still believe that having all your eggs in one basket is a risky proposition and would encourage anyone no matter what their social/economical status is, to always keep an entreprenurial spirit about them.
The original post did not give direct attention to a "normal" job with a "normal" company and really was not targeting an audience of corporate fast trackers or career builders. The main reason is because at the time I was self employed and zoned in on the entrepenuer side of the coin. Also, I did not believe that I would draw the attention of someone looking for a job. I am sure of this now, because noone has sent me a resume:)
As for the topic of creating multiple streams of income, I am staying with the idea that you need to be always looking for and obtaining more than one source of income, especially in these economic times.
The rules are changing and security in any one source is limited. As for what to do, I believe what Paul Pilzer wrote in the next ten million millionaires..... The service industry is the wave of the future.
For now I will end with this:
Always be looking. Think in terms of servicing 80 million baby boomers. What new services are coming our way to fill new needs? This is where thinking outside of the box is crucial, we need to think farther ahead than "Friday" or "Spring" or someday.  Begin to look at what is producing now that did not even exist 3 to 5 years ago and think forward to what will exist that we are not even thinking about today.

Or are we?

On with the journey,

John Morgan