Having multiple streams of income creates a sense of freedom and a future of endless opportunities.
When we were kids did we ever hang a picture of a job, or a single W-2 form on our walls? Heck no! We had limitless dreams on our walls, and if you were anything like me, you also had pictures of the people living those dreams: our heroes.
Somewhere along the way we rationalized away our dreams for a steady and safe career. Our highest aspirations shift from “traveling the world while saving it”, to “does the company have good benefits?”
What the Heck Happened?
I don’t think anyone has a formal ceremony for saying goodbye to the dreams of our childhood.
What I think is more likely is that we just get caught up in doing what everyone else is doing; in following the “safe” path: the path that people have been following for the past 50+ years.
But that “safe”, traditional path comes at the cost of our dreams.
The One-Check Crisis
There are actually a few problems with only having one source of income. Let’s start with the fact that it is limiting. Even if you are in a commission- or merit-based pay structure, having only one source of income limits the amount of money you can actually make. It also limits how far your service to the world can extend.
The other problem is that having a single source of income is both unstable and unsafe. What if that source dries up and can no longer pay you? Then what? What if there is a pay reduction from that one source of income? Now your family, and lifestyle, are in trouble.
The last problem with having only one source of income is that it gets easy and comfortable after a while.
Let’s be honest: when you’ve been at your job for a while, you tend to fall into a routine. It gets easy. There is rarely a challenge or situation that pushes your limits or helps you grow.
The Fire Within for More
I remember the moment when the fire for more reignited within me.
It was a corporate job where I was in charge of Sales Training for a team with over 250 salespeople and 7 area managers. I was the lead sales content creator, trainer, and coach. And so when the position above mine opened, I thought I would be the next in line. Well, I couldn’t have been more wrong! I wasn’t even given the opportunity to interview.
That’s when I realized that I was giving that ONE job too much control and power over my life and the lives of my loved ones. I decided: that was the last time any ONE place would have that much power over me again.
The Three Steps I Took to Owning My Life
- Start Small – Too many people are misled to believe that the only people who can have multiple streams of income are “business owners”. Well, that’s just not true at all. I started growing my multiple streams of income while I still had a full time job. Back then the term “side gig” had not yet begun, but that is exactly where I started. I branded myself, and the services I had been offering in the corporate world for so long, and I went after my first side hustle client.
- Don’t Reinvent the Wheel – Set aside time to take inventory ofwhat you do in your current job role, and what you have done in previous job roles. Now pick the parts of the job you are most passionate about, package those passions, and sell them.
- Objectives Over Hourly – Look for companies or clients who understand that it is far more important that you deliver on a specific objective, than it is to be inside four walls for 8 to 10 hours a day. This has helped me more than anything else in terms of growing my multiple streams of income. Learn to negotiate for objective based work over hourly work.
Let’s dust off those posters with the dreams of our childhood and go after them with intention!. Don’t allow your life, or what you can experience in this world, to be limited because of ONE job.
Money is not everything, but it is most definitely a resource that can provide options, opportunities, and choices.
If you find yourself where I found myself – wanting more and feeling limited – then take steps on the three actions.
And if you want some help, reach out to me and I would be more than happy to help! sammy@weareherose.com
