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Multiple Revenue Streams and YOU

September 30th, 2016

A few days ago I wrote Job Creation in America. A comment I got from someone who apparently runs Bangladesh Government Job Circulars (a website) said (his comments in bold, my reactions not in bold):

Well yeah i totally agree with you that i am the one who is in charge of my lifestyle and income i generate

I’m glad we agree :)

but

Ah, the buzz killer…

when most of the people realize that they already invested their time and money in getting degree or in education sector after that all they left is just a good result in academic

I hope that going to school, investing time and money in, is something you proactively realize you are doing before you do it, and not just have this epiphany after you have done it.  And, you should probably figure out if the goal of your very expensive academic career is to “result in good academic” (or, be smarter, wiser, get a good education, etc.), or to prepare you to have a more upwardly mobile career (or, make you more marketable). In my opinion, these are two very different goals, and would require very different paths while in school.

so we all tend to get a job because which is most risk free

I would argue that neither is risk free, but getting a job is the next socially acceptable step on your career path.  But I run JibberJobber, and meet lots of people who have found risk in their jobs (and are now looking for other jobs).

and starting business need money which most of us don’t have

Some businesses require no money to start.  Others find ways to finance their business, even if they don’t have any (through sales, investors, ramen noodles, etc.).

Look, I’m not telling you that you have to be an entrepreneur, and be poor for the next 15 years of your life. Nor am I saying that starting your own business is all roses. I’m talking about creating multiple revenue streams, strategically, purposefully, and proactively.  That could mean you have multiple jobs (each of which would be their own revenue stream).  Or it could mean you consult, which has virtually no-cost to startup.

One reason I pound on the entrepreneur drum so much is that if you do things well, and have a fair amount of luck, the upside is pretty awesome. Generally, you won’t be laid off from your own business. Generally, your income is not capped by a percentage increase, like various jobs I have had. Or, your raises aren’t dictated by the whims of a boss. You’ll have more control over what kinds of people you work with.  There are other benefits, but yeah, it’s not all fun and games and cashing checks.  It’s HARD.  It’s WORK. You might even cry.  If you are married, your spouse will likely cry.

Let me share one of the reasons I started JibberJobber: I wanted to create a revenue stream of $100 a month. Then, when I got my next job, if I got laid off again, my employer would not be able to take away 100% of my income. I hated giving that power to anyone.  But if I could just make $100 a month, then no matter what, that was my $100!

Pros and Cons… but I don’t need to hear your buts. If you have buts, you probably aren’t ready :)

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