How I Built 5 Income Sources that Generate $167,700 Per Month
The old system of getting a secure job and working until you are 65 is crumbling. The world is changing faster than ever, new technologies are constantly being developed and This is causing many companies to downsize or shut altogether. Jobs that were once considered’ safe and life long are disappearing by the second.
Just look at what the Amazon revolution is doing to the retail landscape, shops are either streamlining, and laying off lots of their employees or just closing down!
So how can you take back control and protect yourself from having financial trouble in the future?
THE ANSWER IS SIMPLE, YOU NEED TO HAVE MULTIPLE SOURCES OF INCOME!
Income source 1: MY RETAIL STORE
It wasn’t easy but little by little we gained loyal customers and now we are one of the most successful independent model shops in the country!
If you are thinking of opening a shop then I highly recommend doing it around something you are passionate about as it will drive you to become better at it.
Income source 2: BUILDING MY OWN BRAND AND PRODUCT RANGE
I wanted to make my own products, create my own brand and start selling to shops. In my school days I used to get super bored so I would sit and draw lots of new and improved model aeroplane designs.
If you are considering selling your own product be that a physical item or an online business venture then the key thing is to know your market inside out. If you are improving a product they already like then you have to know what they dislike about the current ones available to them, it sounds simple but I see a lot of entrepreneurs that think guessing and just going for it is the right strategy.
Little did I know years later I would be clutching the designs I had drawn as a kid, and I would be sitting on a plane and on my way to China. I had heard that china was the place to go if you wanted to get a factory to make your designs into reality
Income source 3: MY EBAY BUSINESS
I made the decision to go all in and started buying lots of other shops, I bought another wear-house and filled it to the brim with stock and listed it all on Ebay. Within a few months I was grossing over $ 45,000 per month. Today I’ve made a name for myself as the go to guy in my industry for you are looking to sell your business as I will buy everything because given time and the right price everything will sell.
There is nothing stopping you from starting on eBay and if you don’t have any money to buy products then start by going through your home room-by-room for items you no longer need. Look up how much the item are going by searching the completed listings. The key is to look up everything, even if you don’t think it is worth anything. You will be shocked at how much you can make
Income source 4: NET RENTAL INCOME FROM MY REAL ESTATE INVESTMENTS
I wanted to build a passive income source that would constantly bring in money even if I decided to stop working.
I did some research and bought a rental property in an up and coming part of town and it has great transport links to London with schools nearby. If you are ready to accept the costs involved with running a rental property and you prefer investments that feel more real than stocks and shares then investing a real estate could be for you.
Income source 5: BUSINESS COACHING
This is my latest income source, after years of working on my own companies, grossing over 50 million dollars and learning many different skills I really wanted to help others