States are beginning to reopen. While some people are ready to get back to work, others are nervous about going back. Unfortunately, for those who don’t want to go back, they don’t have a choice: either report back to work or get FIRED and looking for another job.
There is a better way.
It’s time to learn how to create multiple streams of income. It’s time to stop relying on that one check to satisfy all your financial needs. The average millionaire has 7 streams of income, and you can too.
The Power of Passive Income
No one saw the covid-19 pandemic coming. Many of us were caught off guard and totally unprepared. However, the key is to learn from these situations and prepare for it it happens again.
This is the time to get ready. Here are a few ways to generate passive income:
Vending machines. Vending machines are a great way to generate income. One vending machine can make $7000 annually. What if you lease 10 vending machines? Wherever people congregate, a vending can flourish.
Franchises. What if you got 10 of your friends/associates to invest $5000 each into a franchise? McDonalds? Papa Johns? Chik-Fil-A? Then get a bank loan and start your first franchise?
This is a great way to get introduced to being a franchise owner. Not to mention many fast food establishments thrived during the pandemic.
Drop shipping. Creating an online shop is an excellent way to generate revenue from the comfort id your own home. When people go to your website and purchase products. In turn, you place orders directly with the company, who then ships the order directly to the company.
Become a writer. Writing can be quite lucrative. There are many ways to generate income as an author and writer. Pick up a copy of my book From Passion to Profit: How to Make a Living as a Writer.
While many are ready to go to work, others are not. In both instances, learning how to create multiple streams of income is key.
The days of relying on one income to pay all your bills is over. Its time to think outside the box.
The best time to plant a tree? Twenty years ago. The next best time? Today. Don’t delay, start thinking on ways to generate passive income today.
Get more tips in my book Invest For Success: Millionaire Wealth Strategies Not Taught in School. Available on Amazon in paperback, Kindle and audible formats.
Its important for kids to learn as well: Pick up a copy of Planting Seeds: The Children’s Guide to Entrepreneurship today. Available in English, Spanish and French. Its never too early to learn about business!