Painting Your Own Rainbow – Creating multiple income streams
Painting Your Own Rainbow – Creating multiple income streams
I once met an entrepreneur who had ten different income streams including a number of passive ones. A passive income stream means you make money while you sleep. In other words you create a product which is sold for you by a shop or website.This entrepreneur wrote books and articles which were sold and published in the traditional way, he self-published other books, he ran workshops, offered one-to-one tutoring, he did training for different companies, he was a professional key-note speaker, he recorded his talks and sold the CDs from his web sites and at conferences along with his publications, he offered consultancy and he created ecourses which were delivered as automatic weekly downloads……….phew!
The beauty of having so many income streams is that you are not dependent on one income alone to earn your living. If several of them don't work out it's not a problem. Moreover you can spread the risk and aim to make a living from the spread rather than from one source. The other great thing is that you can leverage your successes. This entrepreneur gave a talk but didn't leave it at that. He leveraged this opportunity by recording his speech and selling it to many more people than were present at his original talk. I know of another entrepreneur with a number of creative businesses including her own photography business and photo-based products such as calendars which she sells online. One successful photograph can be leveraged many times over.
I like the idea of a portfolio career - where you do several things which reflect your personality and fulfil you. A portfolio career can, for example, mean combining a part time job with a start-up business, a course, voluntary work or child-care. Or you can run a portfolio of several businesses giving you a number of income streams. The term “portfolio career” was coined by writer and broadcaster Charles Handy in the 1990s and acknowledges the changes in society and in the job market: fewer jobs for life, more people wanting greater variety in work and education in their adult lives, changing gender roles, more people seeking fulfilling lives.
Linked to the idea of a portfolio career is this notion of multiple income streams where your income comes from a number of sources. I myself have a number of income streams. My core business is one-to-one business and career coaching. I have a second company through which I offer training in career coaching and I am an assessor for a coach training company. I also freelance as an associate for a couple of executive coaching companies. In addition I have several passive income streams. For example I have written an ebook called So You Want to Become Coach which I sell from one of my websites.
The 21st century is a wonderful time to think about your career or business as a creative endeavour. The idea of multiple income streams means you can think differently about how you earn and how much you want to earn. The key is you get to decide the shape of your life and work. You can focus on your strengths and have variety and fulfilment in your life. Thinking creatively about your time and your earning power and getting clear about your personal values means you can focus on what is really important to you. That might mean your main focus is on work but it might also be spending time with your kids, music, creative arts, saving the planet or contributing in other ways as a volunteer. The Internet and the growth of entrepreneurialism, especially among women, young people and retired people, means that the time is right to play to your strengths and create a career and business as varied and interesting as you are. Get the colours out and start painting that rainbow!
Marianne Craig MCC
ICF Master Credentialed Coach
Career and Business Coach
w. www.coachlifeandcareer.com
e: coach@coachlifeandcareer.com
Tel:+ 44 (0) 1273 563 518
Painting Your Own Rainbow Creating multiple income streams - To learn more about this author, visit Marianne Craig's Website.
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Painting Your Own Rainbow – Creating multiple income streams
I once met an entrepreneur who had ten different income streams including a number of passive ones. A passive income stream means you make money while you sleep. In other words you create a product which is sold for you by a shop or website.This entrepreneur wrote books and articles which were sold and published in the traditional way, he self-published other books, he ran workshops, offered one-to-one tutoring, he did training for different companies, he was a professional key-note speaker, he recorded his talks and sold the CDs from his web sites and at conferences along with his publications, he offered consultancy and he created ecourses which were delivered as automatic weekly downloads……….phew!
The beauty of having so many income streams is that you are not dependent on one income alone to earn your living. If several of them don't work out it's not a problem. Moreover you can spread the risk and aim to make a living from the spread rather than from one source. The other great thing is that you can leverage your successes. This entrepreneur gave a talk but didn't leave it at that. He leveraged this opportunity by recording his speech and selling it to many more people than were present at his original talk. I know of another entrepreneur with a number of creative businesses including her own photography business and photo-based products such as calendars which she sells online. One successful photograph can be leveraged many times over.
I like the idea of a portfolio career - where you do several things which reflect your personality and fulfil you. A portfolio career can, for example, mean combining a part time job with a start-up business, a course, voluntary work or child-care. Or you can run a portfolio of several businesses giving you a number of income streams. The term “portfolio career” was coined by writer and broadcaster Charles Handy in the 1990s and acknowledges the changes in society and in the job market: fewer jobs for life, more people wanting greater variety in work and education in their adult lives, changing gender roles, more people seeking fulfilling lives.
Linked to the idea of a portfolio career is this notion of multiple income streams where your income comes from a number of sources. I myself have a number of income streams. My core business is one-to-one business and career coaching. I have a second company through which I offer training in career coaching and I am an assessor for a coach training company. I also freelance as an associate for a couple of executive coaching companies. In addition I have several passive income streams. For example I have written an ebook called So You Want to Become Coach which I sell from one of my websites.
The 21st century is a wonderful time to think about your career or business as a creative endeavour. The idea of multiple income streams means you can think differently about how you earn and how much you want to earn. The key is you get to decide the shape of your life and work. You can focus on your strengths and have variety and fulfilment in your life. Thinking creatively about your time and your earning power and getting clear about your personal values means you can focus on what is really important to you. That might mean your main focus is on work but it might also be spending time with your kids, music, creative arts, saving the planet or contributing in other ways as a volunteer. The Internet and the growth of entrepreneurialism, especially among women, young people and retired people, means that the time is right to play to your strengths and create a career and business as varied and interesting as you are. Get the colours out and start painting that rainbow!
Marianne Craig MCC
ICF Master Credentialed Coach
Career and Business Coach
w. www.coachlifeandcareer.com
e: coach@coachlifeandcareer.com
Tel:+ 44 (0) 1273 563 518
Painting Your Own Rainbow Creating multiple income streams - To learn more about this author, visit Marianne Craig's Website.
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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