As we are not full go into the 21rst century there is one financial mistake that many Americans still make and that is not developing several streams of income. With bankruptcies, layoffs, and foreclosures hitting a record high, the American landscape has changed from the 20th century. I’m sure many of your parents or grandparents come from a job era where you worked for a company for 30 years and then drifted off into a happy retirement. Well those are the lucky and now becoming the few and far between. The new American must look into the new job market of creating multiple streams of income, so when these layoffs or bad times do hit they are not left hanging dry.
Facebook, Microsoft and Google have become Cà Khịa TV not only the most powerful businesses in the world, but common lingo for today’s society. These business models lead our digital world and change on a constant basis. Could you imagine a 22 year old running a multi-million dollar company back in the 1970s? Now with digital media taking over the world, there is a new “twenty something” millionaire every hour of every day. The common ground in 99% of these cases is someone using the internet for their business ideas.
Developing your brand
The key to make streams of money is to develop products that you have passion in. I myself love sports, computer and developing websites. I wake up each day working on developing these niches into a stream of income for my family. Whether you are setting up a dropship service through EBay, managing a blog or selling products, having a passion for what you do will make your life a whole lot easier.
I like to take this one step further and talk about multiplying your niche into your own personal brand. I love sports and so I will give an example of how proper marketing and exposure can turn a decent sports figure into a household name. Outside of major football fans like me and people living in the Houston/Miami sports area, how many people have heard of Andre Johnson? Just to let you know Andre Johnson is the best wide receiver in football the past 3 years with over 302 catches and 25 touchdowns. That is almost double the catches (192) and with 8 more touchdowns then Chad Ocho Cinco. But the question is…….Who is more famous and makes more money? Chad Ocho Cinco of course with his salary and countless endorsements, TV shows and appearance. The reason is the brilliant marketing strategies that Ocho Cinco has developed to put him in the public eye. As you develop your niche, use your YouTube, Facebook, and Twitter account to market yourself and show why your idea or product is best. If you have an “Ocho Cinco” personality let everyone know, if you don’t you can always hide behind your computer and still market your brand. Getting sales is the key and social media is definitely the way to go.
The moral of the story is that the world is an ever changing society. Compare the 1910s to the 1960s to today and you can see the great strides we have made in the last 100 years. Keep your day job (for now) and use your free time to turn your hobby into another stream of income, you’ll be happy you did.