Multiple Income Streams Lagos Nigeria - How To Create Multiple Streams of Income

Multiple income streams Lagos Nigeria - Multiple streams of income by definition simply means that you generate revenue from more than one income source.

The key advantage of having multiple streams of income is that you have a diversified revenue source. And therefore the collapse of one sector will not result in a complete loss of revenue for you.

Adopting the multiple streams of income philosophy is, more or less, like deciding that you will not put all your eggs in one basket.

In practice, adopting the multiple income streams way of life means that you will not get stuck on your day job so much so that you don't give attention to anything else.

What happens if you lose your day job like thousands of employees did during the economic meltdown?

Well, if all you have is your day job, then losing it will be disastrous.

However, if you have been investing in multiple streams of income while the day job was still there, losing the day job will not kill you.

Other benefits of having multiple income streams include:

1. Peace of mind because you know there will always be money to spend and

2. You will earn much more than you currently earn from you day job. Therefore you will live bigger and better.

Now that you know the benefits of having multiple streams of income, the next natural question is, "how do you develop multiple income streams?"

Your Vision - The Biggest Factor

Having multiple streams of income is not difficult. If you desire to earn income from various sources, then that is exactly what will happen.

Why?

It's because "if you can dream it, you can do it".

Bottom line.

It starts with your vision. If you dream of money getting into your accont from different sources, then you will look for a way to make it happen. And as people say, "where there is a will, there is a way".

Think about this.

Which of the two scenarios do you prefer?

Scenario 1: You are a salary earner. You wait for the month to end to get paid your meagre salary. If your salary is delayed for some reason, you get panicky because you become flat broke.

Scenario 2: You have a paid employment but also have four other multiple income streams that generate substantial income for you every month. Therefore you don't get bothered whether salary is late or not.

Most likely you prefer scenario 2.

If you love the freedom associated with having multiple streams of income . . . the freedom and pride associated with always having cash to spend, then you should begin to dream how to make this a reality.

When yoiu consciously begin to dream of earning income from every opportunity, every idea, that vision will gradually become a reality.

Multiple Income Streams - Some Income Opportunities Available

There are countless ways available to make money online and offline.

I am providing the list below to get you thinking of different ways you can convert ideas and opportunities into cash.

The multiple streams of income opportunities include:

1. Selling information in hard book format

2. Selling information in the form of downloadable ebooks

3. Selling information as audio tapes and downloadable tutorials

4. Making money from referral opportunities (e.g. part-time insurance agent)

5. Training classes / opportunities teaching what you know (e.g. bead making training, ice cream making training etc)

6. consulting opportunities (e.g. marriage counselor, match making, software consultant etc)

7. Dealership opportunities

8. Outsourcing opportunities

9. Design opportunities

10. Manufacturing opportunities

11. Partnership opportunities (e.g. opportunties to contribute capital for a share of the profit)

12. Investment opportunities (e.g. stock market, real estate etc)

This list above is definitely not exhaustive.

First, scan the list above, then put pen to paper and create your own list of income sources you're comfortable with. Then determine how you wish to start converting those ideas to more cash in your bank account.

With multiple streams of income you get money from all angles and from every opportunity.

Sometimes all you need to do to earn income five times your monthly salary is simple to introduce someone to anoher person.

However, if you're not the kind of person that sees almots every endeavour as business, you will do all of the introductions and not get rewarded financially.

Think about it.

What do Nigeria real estate agents do to get paid such fat commissions?

They simply connect the potential buyer or tenant to the property owner. And for that they sometimes get paid millions of Naira.

Try applying that concept to everyday stuff and you will amazed how much money you can make simply connect sellers to buyers and product manufacturers or dealers to buyers.

Want to make multiple income streams?

Shine your eye when it comes to money and people will start paying money into your account from different fields of endeavour.

Ssshh!

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