Supercharge your income
I would like you to imagine a massive glass ball and money to be equal to the surface area of the ball. If you drop the ball and it breaks into fragments the total surface area of the individual bits will be much bigger than the original ball.
Money works on a similar basis. Firstly the more ways you spread your money around the more each separate bit has wealth creating potential. Secondly it helps to reduce the risk. If one thing does not turn out well, something else will.
The way money works is to be attracted across different mediums for long term accumulation. I will give you an example from the media. There are numerous media outlets these days. Social media, internet, press, tv, radio, youtube and the like. As people come across you in different spaces you build your presence. This is known as leveraging. You use one media outlet to promote yourself on another. Money is the same. You leverage your wealth between one source of income and another.
Some will say you need to have success in one area before you embark on another. This is an ideal but if you haven’t had any success yet it should not stop you from dipping your toe in other things. The very act of trying various systems to acquire wealth will educate you more about different market places and it will show you where you are best suited.
You usually need some capital and or time to get into any area of activity. Invest a percentage in an idea then invest in something else. Do not invest all your money in training or courses as this does not always provide a return and you will have nothing to show for your efforts. Trainers might have made a lot of money themselves but it is unlikely you will make it the way they did. If you want to learn use books and free media. You will get just as much for a fraction of the cost.
What then are the multiple sources I am talking about. The wealth apprentice is focused on increasing capital and income not on how to do it. Any legal, healthy or ethical method is acceptable and that is where you start. Investing small amounts is precious metals, in shares, starting a handyman business, purchasing property to rent out. You might react to me over this saying you need massive amounts of capital for property but what about garages to rent to people, to park their car or rent to rent. Remember any decent way of getting money is acceptable. Have you a skill or can you perform, do you have a vehicle to carry people or goods or maybe a room in your house you could rent to lodgers. The net has numerous contact groups for all these activities.
Do you like dogs and would be willing to run a dog walking service of hand wash peoples cars. Just because you are doing a manual task it doesn’t stop you from investing running a second business renting out all at the same time.
With a little thought there is almost an infinite number of ways you can generate both active and passive income at the same time. How you will market yourself to create these streams of income will be for a future post.