Most rich men talk about multiple incomes and how they make a lot of money from having two or three sources of income, which is very good but one of the common mistakes that people make is not mastering what is giving them money first. Most people want to have multiple sources of income without securing what is giving them money before moving to another source of income because what this does is divert their attention from their major source of income, which often leads to disaster. Reason why before considering multiple sources of income you must master what you are doing now that is giving you money.
People want to try different things together at once, but it doesn’t always work for them because they will only get a lot of money from what they are good at. Most people have a lot of skills without ever being a master in one skill. When you know every skill without mastering one makes you average and if you want to make money from things you’ve not mastered you will not always get the real money and value for your effort. You must master what is giving you money so that your effort will generate more money for you to consider another source of income. When you are considering another source of income there is something you must wash out.
Multiple struggles
After people have mastered a skill and are giving them money the second great mistake that they normally make is to add things that multiply their struggle, not things that reduce it. What I mean by this is that most jobs that we do are things that require our presence or things that require our efforts when you want to add another source of income it must not be things that require your struggle or your effort again it must be things that it is easier that you don’t have to be there before it functions but people don’t do that, most people add more struggle.
When you add more struggle to the struggles that you already have, you will burn out and you will end up giving up on most of the struggles and later focus back on one, and that is why people don’t always succeed when they are trying to have multiple sources of income. Instead of adding things that don’t require their time and effort and things that give them money on automated, they go for things that add to their struggle. Most people trying to have multiple sources of income fail. We must be able to add something that doesn’t require us to be present things like stock, buying bonds, or mutual funds. What most people want to do is to be in charge of their money and try to do everything together increasing their work hours which they are not able to keep up for a long time.
Think well
Having multiple sources of income is important, but having a great strategy towards it is also important. Before considering multiple sources of income you must first master what is giving you money and after mastering it, you must not consider things that add to your struggle, you must consider things that don’t require your presence, things that generate money for you automatically because immediately you have things that add to your struggle, you might quit everything. It is important to put a good plan in place if you want to be successful in having multiple sources of income.
Thanks for your time.
Hard truth. That’s why they say work smarter not harder. Most times, people think is the amount of hard work they do that will determine the best results they seek for but that is mostly not true.