Multiple Income Streams – Do We Need That?
Let's look at an alert pattern of two individuals A and B.
A gets his 100% income from Source 1, his only source. B wins in a slightly different pattern. He earns only 1% of the income of Source 1, 1% of income from Source 2, 1% of income from Source 3 and so on. In summary, B gets its 100% income from 100 different sources.
The possibility of something happening to Source 1 or any source is very high. If this is true, individual A loses it with 100% income. Then, 100 goes directly to 0. Very scary! Let's see B in this case. You lose a source, there is almost no impact on your income because you have just lost 1%. We can consider a situation where you could lose income from 50 sources. There is nothing to worry about because you still have 50% of accumulated income. That is the beauty and security of having multiple sources of income.
Security: salaried people talk about job security. There is no term like Labor Security.
You lose a job. I bet you'll find another one. If you are not in the same city, then another city. If another occupation is not the same profession. But you will do everything you can physically and you will find another job. You are and will be able to generate income while doing it physically. You are directly and totally responsible for your income. That is called WITHOUT SECURITY. Why? E.g. Famous surgeon Earn thousands per month. Involved in a small setback. The fingers fractured. Out of action for saying 5 months. Income statement. From thousands to zero. Without security.
You should get involved in a business that does not require your physical participation to generate income or money. That's where Network Marketing comes into the picture. Here your income is the result of small efforts put by each individual in your network. You are not directly responsible for your income. That's where you can have financial security.