How many steams of income do you think is adviceable to venture into and example

[Dowenship]

Looking at the Economic trends, economic melt down and the rate of increasing bills to be paid and responsibilities from everyone around as family or friends, how many streams of income do you think I can venture into that will help me. And what type of business can help out aswell.
Thanks

As many as possible, or as many ass your time could allow you to do, do it. One of my mistakes in life is not venturing into as much as posdible business that will hellp me when one is down.

Quote of the day:
Never give up, because the breakthrough is near. Keep pushing till you win

 

[GoldenLady]

You can manage one of more businesses at the same time, it all depends on the level of devotion needed by each one.

For example, most of us on Bizdustry use it as an addition to our offline streams of income. It doesn't take a lot of time.

Some will add faucets, freelancing, and other services to it.

You can be into agriculture and still have an offline business, or you can choose to focus on just one.

Whatever, just make sure you do not overstress yourself, whereby both businesses suffer for it.

 

[tuna89]

'Streams' you meant, right? There is no highest amount of income streams that a person should have but he must have at least two and must be able to manage these businesses, they can be either online or offline businesses, multiple income streams are very important to enable one cater for major and minor expenses. Nice thread!

 

[DareIsrael]

With the way the economy is at the moment, and the wickedness in certain part of the world, I will suggest that you learn a skill that can earn you money. Skill like photography, videography, tailoring and many other more. Most times you don't need to learn all but stand out and be good in the skill you have.

 

[CeeJase]

As many as your money reach. Take Dangote for example, of all the products he's producing he still went into oil processing of which the company will come into existence in distant time. So long as you have the capital, venture into as many as you can.

 

[Ub40]

Although it is good to have multiple streams of income, I think the number of advisable stream of income to have should be based on individual decision. For instance, I have my money in bitcoin, I have money in online investment, i am working, i am with bizdustry, and I am still looking for more because am still capable. You can now see that my taste is different. So only me know the number of stream of income that is good for me or that I am capable of handling. That is my take.

 

[Roysnickz]

Though I agree that depending on one stream of income in the present economic situation is not financially good, I however, advise against pressurising yourself too many businesses to a point you can not effectively manage them.

 

[Tinaconcept]

I will advice if you have enough capital you should have different streams of income but the only thing is if the management of so many businesses will be difficult its adviceable you go for many investment and concentrate on one or two businesses

 

[Nurudeen]

Judging with the economic situation all over the world right now, I think minimum of two jobs is okay for a man and if you think just one job you are doing can pay your bills and still make you save then no problem, but for me I'm currently handling up to three Businesses for myself

 

[Samuelkanu]

Today's times makes it difficult for people to to rely on one source of income. This is because things can easily change and once your source of income is threatened you are in big problem. It is good to have multiple sources of income so that if one fails you can rely on the other. But the number of ways to make the money depends on your available time and ease of doing it.

 

[Ralphjoe]

In this economic times whereby there are a lot of inflation in the economy. It won't be out of place for someone to have more than two streams of income so that he can be able to cope with this times of bad economic meltdown occasioned by the coronavirus pandemic.

 

[Kelly5]

As regards to your enquiry into what number of stings of income one should engage in to be successful, the thing is this, the number of streams of business man A engages in cannot be the number of strings of business man B engages in or will adopt to.

 

[Mawome]

Until I know you're skills and qualifications then I will able to know the type of business that suits you, but for now , I will advise you to go into crypto currency, buying and selling of cruyto currency, cos it doesn't require skills, all you need to know is just, the right crypto to buy that's all.

 

[Hasan Raza]

Whatever you do, don't have a solitary kind of revenue, it is risky. It is said that the normal mogul has around 5 types of revenue. So attempt to have different ventures that will get more pay for you. More is always better.

 

[Kayzzy3]

Looking at the Economic trends, economic melt down and the rate of increasing bills to be paid and responsibilities from everyone around as family or friends, how many streams of income do you think I can venture into that will help me. And what type of business can help out aswell.
Thanks

The importance of multiple streams of income can not be over flogged, that is why people are advised to invest in many places as possible, as this give your leverage and more options too.

I don't have multiple streams right now but I expect money from my regular job and a business I recently invested in as a passive investor then my online activities.

 

[Blessedsam60]

The number of your stream or sources of income depends on how capable you are to control then and how determined you are as well.
Now let's say what you can only managed including that your normal conventional 8-5 job is a small gas filling station, then you can be operating that for a moment till you are capable of building another stream of income.

 

[Axad. Mrb]

First, is seven the magical number of income streams that turns you into a millionaire, or is it that the millionaire knows how important multiple streams of income are, and so begins to “collect” them?

 

[Neeta313]

Normally one should have more than one source of income, the number of sources you want to have will depend on what you can handle, you can have as many as possible as long as you can handle it, you can equally have managers that will manage your businesses while you are not there.

 

[KvngMurphy]

Looking bat the whole state and situation of the economy I advise everyone to get more streams of income or various other side hustles if possible online because the government are trying all means to hinder someone from living a comfortable life and I don't think anyone or anything should stop us veca

 

[Diamond07]

There are no limits to how streams of income you can have once you have the capability for it. Choose businesses that fit into your strength so you won't be over burdened with it's responsibilities