Whatever it is you’re dreaming of, take the next step.
It has long been my goal to work for myself, but in my early years, I had been trained that a person got up before the sun, went to work for eight or nine hours and came home beat. For this, you got a paycheck at the end of the week. All the fathers on our street did the same. When our growing family needed more income, my mother traded her night hours tor work in a thankless factory.
All my life, one model: Trade your hours for money.
Then my dad lost his job. After two years he found another job that would pay the bills, but he began dreaming about owning his own business. After a few years, he partnered with my brother and launched. The business did alright for many years, but he didn’t foresee desktop publishing. The business dwindled and found himself again trading hours for dollars, working with my brother in another industry.
Along the way, the mega companies and corporations began to buckle and fold. The idea of being totally loyal to one entity began to sound like putting all your eggs in one basket. You could give a lifetime to a company and instead of retiring fully funded, you might lose your pension, retirement benefits and health coverage.
My dad often spoke about another business model, one I had not really seen up-close. Multiple streams of income. Creatives are largely familiar with this model as they pursue their artistic endeavors. Office jobs, food service, collections, or those other jobs that pay a tiny hourly because they receive tips or commissions. Pursue your painting, crafting, dancing or talent until it financially overshadows the main source of income. Teach your craft to someone not as far along as you are.
There are pros and cons of each, to be sure. As a hustler, you are responsible for everything including taxes paperwork and the next paying gig. As a creative, not wanting to be defined by hourly work, I always had a side hustle and occasionally, the side hustle carried us through between hourly jobs.
How to develop three streams of income? Or four? Or more? There are far more forward thinkers than me. Lots of great people to read, learn from to help you gather steam while stoking your own fire. Ideally, income streams that could be checked on every now and then and earn money without constant attention. In essence, making money while doing other things, these things allowed you to multiply your efforts.
My goals were simple. I wanted to help others in some way, double my income and stop trading hours for dollars, working by the project for a pre-named chunk of money. Right now, my writing pays for my (part) of the bills. My next stream of income will not only pay for itself but pay me.
It comes down to this: Just start. Start something somewhere. Begin. Take the next step and then figure out the next step. My dad went on to other dreams and started other businesses. He and my brother launched a second business and my brother runs it to this day, nearly 10 years after my dad passed away. His products have traveled the globe. After a few false starts with various enterprises, my intellectual property has graced four countries. I’m pleased with the progress. It seems one leads to another, dreams like strings of lights.
Write down all that you dream of doing. What can become an income stream. Choose one. It doesn’t have to be the easiest, but maybe the one you’re most excited about. What’s your next step?
I’m listening if you want to share. I will cheer you on.