| ultiple streams of income | | | | ever stop doing what she loves. Recently she told me |
| In this economy the idea of having just one job doesn't | | | | that she was considering a sixth source of revenue |
| make sense. First there is much competition for a | | | | which is assisting teachers on the path and process to |
| single job. Second, once committed to just one job, | | | | teach overseas. |
| independence and flexibility is taken away. The best | | | | Establish You.inc |
| strategy in this economy especially for those over 40 | | | | Like the example above, this same opportunity is |
| is to have multiple streams of income. This gives one | | | | available to you. First, you must think through which |
| the best sense of security. If one stream of income | | | | abilities and interests align the best. This is where you |
| doesn't work out, there are many others to turn to. I | | | | should focus. You will surprise yourself with the ideas |
| suggest the number five as a target to aim for. Why? | | | | you come up with. It is much easier to get 5 sources |
| No scientific reason other than you can keep track of | | | | of revenue and customers then just one traditional job |
| them on one hand. This approach, of course, takes a | | | | which lock you into a time, place, and a salary! So |
| whole different thought process. | | | | outdated for those over 40! |
| One of the best ways to start is to search on the | | | | Establish a niche |
| various job sites under part-time work. I recommend | | | | I have one client who loved working with old classic |
| Also start to look at sites like and which give people | | | | cars. Fast forward today and he has multiple streams |
| the opportunity to bid on work and offer themselves | | | | of income around this passion. He organizes |
| and their talents. | | | | downtown shows of old cars. He actually fixes other |
| Align all work around a central theme | | | | people's old cars. He acts as a broker helping people |
| It is important for focus, energy, and momentum to | | | | to get the spare parts they need for their vintage cars. |
| look for five sources of revenue which all relate to one | | | | He works one day a week at a junk yard. He likes |
| another. For example, I had a client who was a high | | | | being outside and this also gives him access to new |
| school teacher and decided to leave because of new | | | | parts which come in. He works 2 days a week |
| stress on teachers. She still loved to teach. Today, she | | | | changing tires at a local shop. While this doesn't relate |
| helps high school seniors to discover what they want | | | | directly to his love of old cars, he knows how to fix |
| to do in their life and to find the best colleges for them. | | | | tires and this part time job keeps him around cars! |
| She has a coaching business helping high school | | | | Find new ways to work |
| students who are struggling with grades. Her third | | | | Start with a business card. What would you call |
| source and core business is developing training | | | | yourself? What would your tagline be? What would |
| programs for teachers as part of their in-service | | | | your marketing flyer look like? What products and |
| training days teaching them how to communicate with | | | | services could you develop and sell to others. Which |
| students better. Her fourth and fifth sources of | | | | part-time jobs could you combine in similar areas? |
| revenue are working part-time for others. She is a | | | | It all starts with a sense of purpose and path |
| substitute high school teacher for 3 districts 3 days a | | | | Focus in areas where you feel deep interest. It is very |
| week. She likes the challenge and no longer has the | | | | important especially after 40 when you start feeling a |
| state testing pressure. Her other part-time job is | | | | sense of urgency around your work and what you do. |
| working for a text book company selling textbooks to | | | | Over 40 the OLD way of looking for just one job no |
| high school teachers. This keeps her close to her | | | | longer makes sense. The new way is to create |
| target audience and customers. Her overall revenue | | | | multiple streams of income. This is important in mid-life |
| after 2 years of developing is slightly higher than she | | | | as the need to explore, to travel, and to be creative |
| made as a full time teacher. Now she has to pay | | | | rises to the surface. Getting just ONE job is hard |
| private health insurance and she gave up her | | | | work- Getting five is much easier! |
| "retirement"but she is happier now with no need to | | | | |