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With just a job you have one income stream. Many business owners only have one income stream, their business. Having multiple income opportunities can help you weather economic difficulties and add other benefits. Why not make income from one source? Many people were hurt economically in the recession because they depended upon one or two income sources. Typically this income source was a job and many jobs were lost with little warning. The second income for many households was two people at two jobs. Before if one person lost a job, the other could help. If both people lost their jobs or there was only one person with one income, a job loss creates chaos. What about business owners? The same for business owners who suddenly find their business is not doing as well as once was. Even worse if the business had to close down. These people, if they had employees, also had to let their employees go. Then the business owners and employees are suddenly without income. How does multiple income streams help? By making money from a variety of sources you do not have to worry if one system doesn't earn as much or fails completely. With multiple income opportunities in place, if one slows dramatically or stops, you have other profit streams to help. It is far easier to add or rebuild a profit center when you continue to have income. What if the income amount is small? Perhaps you think multiple profit centers could only be small. Often the key to additional income streams is creating something with residual income, which will grow over time. Even if the amount is small, imagine ways to grow it. Imagine how the amount would mean paying for a bill, or two or growing to cover more. What additional income streams should I get? Extra income sources should be enjoyable with potential to grow into full time income should something happen. Even better is to find a way for it to grow into far more. If you have a job or a business already, a key is to have flexibility so you can keep both working rather than have one interfere with the other or having both wear you down.


Should I build additional income streams now? Life is unpredictable. What you think will never change could be completely different a month from now. Building income with multiple methods and keeping those income sources diverse will help keep income flowing. The other income streams can be built up when one stream decreases. This is what can help you succeed and grow.

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Article Source: http://EzineArticles.com/?expert=MJ_Schrader

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Do You Have Multiple Income Streams  

Here's a great tool to turn your spare time into spare income on the internet: http://tiny.ly/5sSY

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