The Scariest Number
If you only have one and you lose it, you have nothing.
Think about that for a moment. How does that fit into your life?
It is a sad fact of life for most people, they only have one income.
How scary is that!?
People all over the world are in fear of losing their job, their only source of income, for many their only option for maintaining the lifestyle they have become accustomed to.
Business owners love this; it gives them power over their employees.
It scares the hell out of me, the thought of only having one income stream. For that reason alone, I dedicate quite a bit of time exploring other options. If you haven’t set up multiple income streams, your life could become very different in a very short space of time.
Why do I believe this so strongly? The Foundation for Young Australians (FYA), released research that found 60% of young Australian students are studying for jobs that won’t exist, or will look very different in the next 10 to 15 years.
If this is true, then it stands to reason that many of the jobs we are in at the moment as adults are also dying or changing rapidly.
Go to school [12 years] earn the right to qualify for university, polytech, TAFE or any other vocational educational training where you get a piece of paper that says you have achieved a certain standard. Usually a knowledge based assessment [4-6 years].
At this point, all you have is the knowledge, a licence to learn how to apply your knowledge in the real world, to be considered competent [5 more years].
You are now close to 30 years old. A family of your own perhaps. The next 20 to 30 years will become a blur as they race by.
You are required to constantly return to update that knowledge. After 10 years, chances are you are not that happy with your lot. You want to change but you feel trapped.
Many of these learning institutions have designed their courses to lock you into a certain career path. They upsell you to a higher level of skill in order to get slightly better wages. A financial cost to you in the form of lost wages and fees, just to maintain a single income stream.
It doesn’t make sense to me.
Most of the courses do not open your eyes to the potential income streams you could create for yourself in this day and age. The institutions that run these courses are in business and don’t want any competition, they don’t encourage you to share your knowledge.
There is nothing wrong with learning skills that are useful to other people. Just be very aware that the world is changing. The skills you have or are learning today could easily be replaced by new technologies or a shift in societies values in the next decade or so.
So what is the answer?
Share what you learn when you learn it.
You teach best what you need to know the most.
If you have been struggling to work through a problem, then come up with the solution or even better, a system that works, share it. if it is your system, you get 100% of the profit. if it is someone else’s system negotiate an affiliate cut of their profit for bringing them new customers.
Get a return on your investment in knowledge and skills as soon as you can because chances are the knowledge you have today is becoming less valuable as each year ticks by.
When you do this you will be helping other people fast track through the same issues. If you do a good job and create good value, you will be able to create additional income streams.
We live in the information age. There are multiple ways to share knowledge.
Do yourself a big favour, go the extra distance and learn how to share what you are learning, what you know or even what other people know.
Free yourself from the underlying fear of only having one income, an income that could dry up for a multitude of reasons.
If you need a place to start, go to Udemy. com, get your creative juices flowing.