Mutliple Streams of Income

For the nth time, I recently finished the popular book Multiple Streams of Income by Robert G. Allen.

This inspiring book will help you think about your life and how you bring in income to your household.

Do you work a 9-5 job?

Do you own your own business?

Do you invest?

In short, you should be using "all" of these techniques because you can never tell when one of these may fall through. By utilizing these different techniques you also increase your chances of success and obtaining wealth.

Referring back to the choices listed above, let's analyze how you can bring in additional income.

"Do you work a 9-5 job?" - Focus on your job responsibilities, improve your techniques, prove you add value, and become a leader. Shortly after, request a pay increase and make sure to have your supporting documentation available.

"Do you own your own business?" - Focus on something you enjoy with low start-up costs like a Network Marketing business. Learn the ins and outs as a Network Marketer and share your business with all. By starting your own business, you essentially are creating an additional income source.

"Do you invest?" - Invest a portion of your money, usually 10%-15% of income. Invest in your company's sponsored 401k plan. Invest in real estate. Invest in business partnerships. By investing, you don't have the same hassles as you would if you were running your own business. But you should be aware of who you choose to invest your money with. Use common sense and what feels right.

The bottom line is creating multiple streams of income is important and everyone should practice it. This is the same strategy that the rich use and is the #1 reason why they are so successful. Rather than spending all of their money, they first determine how they can make more, then they spend their left-over money on necessary items.

Put one of these strategies to use, then track the results. After doing one for sometime, try another, then another, and then another.


Jerome Ratliff
Discover your way to riches