Anyone who has ever worked for salary as an employee knows what such job really is about. You give your 8 hours per day in return to cover everyday expenses. If the salary is sufficient for you to meet all your needs and fulfil your life goals and even more - you feel happy doing your job - I congratulate you, because you’re one of the few who have reached probably the highest level what employment can offer. Unfortunately, researches and statistics have not been so encouraging and they show that over 80% of people are not satisfied with job where they work every day. If you are to asked an average employee why he/she don’t change their job to something better or does not start their own business, you will probably gettwo types of responses. Either salary raise or retirement benefits. So that’s the motivation what keeps people to stick with their job.
As one might expect in the introduction, salary is only one income stream. We receive our salary monthly from the same source, which is our employer. If our employer in its company or organization is making some changes or reforms, often employees are the ones who also are changed - some fired, others new ones hired. In such case - what happens to us? We are one who had one stream of income and it turns into Zero Streams of Income!
I am self-employed - no one can fire me!
If some doctor, lawyer or other professional is reading this, he will probably think - well, I am the lucky one - no one can say - YOU ARE FIRED! And they are right, because if you’re self-employed, you can not be fired by someone else, as long as you fire yourself. Or you’re fired by your customers and clients. However, if you are hard working and do you job well, then there is very little chance that it could happen.
But let’s look at this on the other hand - what happens when the lawyer becomes ill? Can he send his clerk to the courtroom to represent the case? I think not - at least I would not like it, if I were a client of the lawyer. If you do not want to dramatize the situation about disease and other life adversity, which may interfere with job performance, then think what happens if the doctor who wants to go for three months to spend time with his parents because they have become old and they need some help. Or, if you’re middle aged, and your children live far away from you - how likely it is to be with your grandchildren? The answer would be - only on that time when I do not work. The conclusion is as follows - the self-employed income stream and is only one income stream and it depends on the ability from daily work.
What else could be a stream of income?
Everyone know that if you want to earn some money - just get a job and you will have it! However finding a good job with good salary is not so easy. But the truth is that eight hours workday for companies is not the only way to earn money. There are other ways that do not require so much time and often gives much higher financial returns. There are other sources of income, which may require some time and effort at first, but later the reward is much higher.
Today there are literally hundreds of ways how to earn money without daily employment for companies. It allows you to create Multiple Streams of Income.
Other streams of income could come from the following sources: Income from property rent, profitable business, which does not require look after day to day. (If you have to do everything in that business, then it is not business, but job), royalty from books, patents, music, etc.. Once a product ready, it starts to generate long-term income, network Marketing, which is built as profitable income structure, etc
When you have multiple streams of income, you are earning money from more than one source at the same time. Did you ever hear the expression, “Don’t put all of your eggs in one basket.”? What this means is, you should never depend on just one source to earn from. What if that one company goes out of business? You would be left with no source of income.