Multiple Income Streams Online – Or Just ONE Income Stream?
Normally the story is that multiple income streams online from diverse sources is a wise move to soften the blow if any one or more of the income streams moves to failure.
However…if you are a busy person then just managing ONE business in the time available can be a challenge!
Old Japanese Proverb..
Translation: He who chases two rabbits catches neither.
Meaning: Rather than waste your energy trying to do more than you are able, stick with what you know you can accomplish.
The Proverb Is Right!
When it comes down to business I found that it can be difficult to find the right balance in that paradox between finding and maintaining focus in just one business against the effort involved generating multiple income streams online.
Which way do you turn?
Do you get focused on one thing so that you execute it well, because without focus, your efforts are wasted, and in these fiscaly tight times, there’s no room for time or money waste.
Yet other well known people, very high on the scale of these things, have shown us the importance of creating multiple streams of income, particularly for entrepreneurs which I am trying to be..
Conflict: How can you focus if you’re chasing multiple opportunities?
Here is one point of view:
“There is a BIG difference between MULTIPLE STREAMS OF INCOME ONLINE and MULTIPLE DRIZZLES OF DELUSION.
If a project requires your MONEY it’s an Investment opportunity but if it requires you to promote, its a Business Opportunity.
There is NOT one individual that has built a 7 Figure annual Income in direct sales/network marketing that has done so building MULTIPLE Business Opportunities simultaneously and if they claim they have they LIE about other things too.”
How About Doing ONE at a Time of the Multiple Streams of Income Online?
Mmm.. If you examine what you normally do for a living, I bet you find yourself dealing with multiple projects and multi-tasking rising priorities.
You could be in sales, working in an office or out in the field – or you could be an entrepreneur.
If you are an entrepreneur then we could consider that each of those ‘projects’ may be an entire business opportunity you are promoting!
Here is what is recommended in MLSP (I am a member there..)
Work only one growth project at a time!
..and work on it until you have mastered it and its working for you.
I think this is the sensible key to making this paradox work that most people don’t know and don’t do.
Look .. there is no sense in spending a few hours a week on each of SEVERAL projects which only keeps them all moving forward little by little.
I have found the way to both finding focus and making multiple streams of income is to work on ONE THING at a time, and keep working on it until it is at the level you are happy with (you can always come back and adjust it).
Get it to a point where it is of substance and fit to share with people or has started to generate income.
At this point, let it carry on working for you in a mainly passive manner while you start work on something else.
How do I juggle all this?
So how does one juggle all of this while still maintaining balance?
You need to pin point the difference between maintenance work and growth of your business work.
Seriously, there’s no such thing as absolute passive income.
Most “passive” income still requires a certain amount of maintenance work.
Growth demands your input and activity to move forward!
Make a schedule…
It took me a while to get to grips with this — but it has to be done to stop you going crazy!
If you just take random stabs at your workload and flit back and forth from one business opportunity project to another (easy to slip into) you will end up frustrated and disillusioned.
You need to schedule your priorities. It can even border on boring, but that is the way it has to be.
The only way to ensure that you are really focusing on the next most important thing is to put into your schedule.
Otherwise all those things that are URGENT, but NOT that IMPORTANT will keep you from doing the things that are IMPORTANT, but NOT URGENT – and even sometimes the things that are important and urgent.
In a few words – procrastination and time wasting.
If you want to focus, you have to give yourself time to focus, free from other distractions, and know in your own mind that that’s how you’re SUPPOSED to be spending that time.
So, follow these simple steps, and you’ll soon learn how to live the paradox of focusing on multiple streams of income!
Collectible art, vacation homes, and a business, while illiquid in the short term, are all assets that can be liquidated to provide cashflow at a later date.
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