Having multiple streams of income takes time, patience, and a willingness to constantly be learning, evolving, creating, and changing. When I tell people all the things I do, people always ask me "how do you have time to do all that"? My answer is pretty simple. I manage my time in a fanatical way. I don't spend a lot of time watching TV, or scrolling on Facebook. I spend a lot of time doing what I ENJOY. And I've found ways to monetize the things i enjoy and have fun doing.
I eat right, exercise regularly, spend enough time with loved ones, read fairly regularly, attend church, volunteer my time, and work on my streams of income. I will watch some sporting events from time to time, or some old comedy shows or a movie, but I normally do that while I'm working. I get rest and relaxation, but I enjoy doing the things that generate income, so its not really "work"!
In this blog post, I’d like to explain 6 ways that I earn extra money, outside of my 9 to 5 job. These are all things I’ve done on the side that I enjoy doing. Some garner lots of extra money and some have provided just a small amount of extra income. But all of them are scalable, if I ever decide to focus on them full time. Having multiple streams of income is a way of mitigating the risks of throwing all your eggs in the basket called a “job”. I'm not anti-job, but, as we can all see, jobs lay off, jobs cut cost, jobs cut hours, and the demand for specific jobs change with technology and time. So you should always have backup plans in the form of "side gigs", "side hustles", or whatever you want to call them!
My main “job” that pays the majority of my bills is managing federal government contracts on behalf of the federal government. In other words, I purchase good and services for federal government agencies. That stuff I purchase may be items or services such as construction services, architect-engineer services, or a host of other services. That is my job. My job pays for my living, but these streams of income are what allow me to do my purpose. The streams of income that I mention here are what I have fun doing, what I like to do, and most of all, what I control! So after my day job is over and I’ve put in my 9 to 5, then I spend 5pm to 9pm, or longer, doing my “work” on building and cultivating these streams of income.
My 6 cash money streams of income
1. EBay – Buying low and selling high. It's the cornerstone of what every business in the world is based on.
Click HERE to check out why and how I got started selling on EBay and click HERE to check out my current inventory!
2. Owning and managing rental property – I have owned and managed single family homes for 20 years. I owned 6 single family residential properties, and managed a total of 7, for over 10 years.
For the last 7 years, I've owned and managed 2 properties. I decided around 2013 to keep 2 properties in my portfolio, and that is what I’ve done. I wrote a book to offer some tips and to help others understand the process of being a Landlord and property ownership that you can check out HERE.
3. Blogging Online - I've managed a blog and been blogging for about 1 year now. I'm still learning, understanding the whole search engine optimization stuff. I enjoy it because it gives me an opportunity to share what I know with others. The money is minimal right now, but that will change as I learn more. Blogging takes time. The learning will pay off with patience and hard work.
4. Authoring Books - I've written 2 books and have another on the way. My current books are about what I know. Similar to blogging, the money is minimal right now, but I'm not in this for making money. I do this because I enjoy writing.
5. Voice Overs - Click HERE to check out my voice over website. - I have done this casually and for free for my church for 10 years, and I’ve spent less than a year focused on it as a money making hobby. Thus far, I’v made about $1,500 in my first 6 months while still learning the business, the marketing, the techniques, the equipment, the editing software, and getting coaching.
Yep, that's me, "in tha booth"
I'm still learning. Its fun and I enjoy it. Again, this takes time and takes lots of learning and understanding marketing. And in the meantime, I’m having a blast doing it.
6. Consulting - I’ve been doing this for just a few months and I'm enjoying it. I coach and mentor people to win with money, develop multiple streams of income, and manage their personal finances. I also coach individuals and businesses what to do to win federal government contracts.
I also teach people how to start and operate an EBay or reselling business and how to buy, sell, and manage rental property. This is where I help folks on a one-on-one level. I enjoy it. If you want help in any of these areas, I'd love to walk that journey with you. Simply click HERE to schedule a FREE 15 minute discussion.
So there you have it. My 6 ways that I earn money outside of my regular everyday job.
If you have a question or a comment, please feel free to reach out to me and I will be more than happy to help you or just answer some questions!!