I think having two or three businesses especially as a beginner is the ideal for you so that you can be able to focus on them. You should ensure that these businesses are in two different kind of industries.
How many steams of income do you think is adviceable to venture into and example
- Thread starter Neta Sam(Samuel Odunlade)
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As an investor, you should always seek to diversify your portfolio as much as you can. Just like you don’t want to bet your future on a single 9-5 job, you don’t want to bet the farm on a single stock, either.
There are a ton of ways to diversify your investments, some of which can send real income your way. By opening a brokerage account and investing in ETFs or mutual funds, you can earn real returns you can use to supplement your income. Of course, the flip side can also happen – as in, you can lose money. So, make sure you understand the risks before you dive in
There are a ton of ways to diversify your investments, some of which can send real income your way. By opening a brokerage account and investing in ETFs or mutual funds, you can earn real returns you can use to supplement your income. Of course, the flip side can also happen – as in, you can lose money. So, make sure you understand the risks before you dive in
Someone once said that an average billionaire has five to six streams of income because the more the income the more the money grows but not earned income from working tirelessly but passive income made by people representing them
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This is actually very true because when you have just single one source of income and something drastic happens to it you will definitely be left bankrupt without any money.
When it comes to making money both online and offline it is very important that you always set your target because it is not to drive you towards meeting your goal on daily basis.
This is actually very correct and need something that is very common with Africans who are into business because they are never pushing money from only one source.
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Seriously, it's always going to be to the benefits of the person that have more means of making money because there wouldn't be quick financial bankruptcy for you.
One thing i have come to understand is that once a person have the capacity to make wealth,he can definitelly combine as many businesses provided he has the capacity to run them in an efficient manner.
Well, for me I think there are lots of ways to sought this out, the most important thing here is you, if you are good to can overcome evecome everything.
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Well, looking at the economic situation of our current generation, it's not advisable to concentrate on a single stream of income generation but you are to engage into as many as you can in other to reduce the stress of the economy situation.
In my own point of view and as an enterpreneur, going into many business at a time will definitely affect your business , so the best way is to start one business at a time and after making sir the business has been established, you start another one.
You can be able to have as much streams of income as you think that you can be able to manage. This is why I believe that for a young person anything to 2 to 3 is okay for you.
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Having two source of income to me is okay as long as you are earning perfectly with both of them. But since I will not have the time to be managing two offline business at a time. I will prefer to have an online business and offline business.
You can work on many streams of income if you have the ability and strength to do more than one , for example i am a teacher , i have a farm and I am into baking and selling of baking ingredients,
This could be a really tough question to answer. I think that capital matters the most and I must say that even if I have once source of income, I would save money and try to create many different streams of income.
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That is what usually differentiate the average person who is into investment from the mutimillionare.because he usually have many streams of income to booste his earning portfolio.
It is said that billionaires have seven sources of income so that’s the overall target in life. You can go for 3-4 streams of income in order to be financially secure. Examples include real estate investment and crypto investment among others
Having a multiple streams of income is really important, this will help you to earn a extract amount of money, in other to earn money we need money, use the money you have to earn a considerable amount.
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Mostly it all depends on what do you can handle. Instead of you focusing in so many different business idea , why don't you use that time to focus on one and the most profitable business idea and achieve all the things you needs from it ?.
Yes, you could also say this. Given the economic climate, one stream of income will probably not be enough no matter the proficiency you have achieved in that job. This is why it is important to diversify streams of income in order to live life comfortably
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