Multiple Streams of Income, Part 1

"The Trouble with the Rat Race is that Even if You Win, You're Still a Rat." ~Lily Tomlin

I absolutely love this quote from Lily Tomlin, because it couldn't be more true. How many people do you know that have spent their lives climbing the corporate ladder, only to find out it's leaning up against the wrong wall, one that really doesn't satisfy their inner desires and personal passions?

Who do we consider the "winners" of the rat race? Doctors, lawyers, and maybe a handful of other professions come to mind. But when you really take a close look at their lives, the 9 to 5....erhhh, more like 9 to 9 grind that they go through every day, is it really all that glamorous? They're really just a more successful version of a wage slave, with a little bit nicer car.

As creative small business people and savvy entrepreneurs, we need to commit to creating multiple streams of income in our lives. In today's tough economic times, it's very risky to have all of your proverbial "eggs" in one basket, relying on just one revenue stream. Creating multiple sources of income helps create a safety net, especially when they are diversified across different types of products or services.

One example of this would be to have an investment in small grocery store or farmers market, while at the same being heavily active in real estate or the stock market. While the latter may suffer in the midst of a recession, the former is considered a "staple" and is less likely to be affected by the rise and fall of financial markets. By implementing business strategies that produce multiple revenue streams, you can rely on one source of income if another one is diminished for a period of time due to unforeseen circumstances.

After you have developed numerous income streams, it's time to turn your focus towards making those streams as passive as possible. You should examine every aspect of your business and find out which tasks or activities can be delegated and/or outsourced. The more time you are able to free up in your day, the more time you have for creating additional revenue streams. The goals is to eventually have all of your income streams completely passive, so that your money comes in whether you're at work or on some island in the Caribbean. That's when you have officially graduated out of the rate race and are back in the game of truly enjoying life.

For a great way to visualize yourself getting out of the dreaded rate race, play the game Cash Flow 101 by Robert Kiyosaki. He also makes a great kid's version to start your children off early thinking the right way about money. I would also highly recommend Timothy Ferris' book entitled, "The 4-Hour Work Week". It's the entrepreneur's outsourcing handbook, and an absolute must read for small business owners.

**Make sure you come back for part 2 of this series, as I will be examining Warren Buffet's money rules, as well as the resurgence of the Entrepreneur. To your success!**

Billionaire Moms

Being a mom is certainly no easy job. Helping kids get up, dressed, fed, and off to school is just the very beginning. Most moms also have the unenviable task of preparing a dinner, helping with homework, and getting the kids back off to bed so as to start the whole process over again. Of course when you have a terrific husband like myself, the load is a little easier to handle, but still an exhausting task nonetheless.

However, the responsibilities of a mother should never be used as an excuse to not pursue her dreams. Whether a mother has a passion for business, ministry, or philanthropy, her goals should never be shelved or put on hold for anything or anyone. Moms should be given the same opportunity for achieving greatness in their life as anyone else.

I recently ran across this article about Billionaire Moms, and a number of these massive fortunes were self-made by hard-working, high-achieving, maternal superstars. I hope all the mothers out there find inspiration and a new sense of desire as you read about the tremendous achievements of these super-moms!

http://finance.yahoo.com/career-work/article/109462/worlds-richest-moms?mod=career-leadership

The Paralysis of Perfectionism

A few months back I posted about how I had made a new covenant with myself to communicate more often with my blog. It was time to equip, encourage, and inspire others to achieve greatness in their lives, and form a more intimate relationship with their Savior. No longer would I sit idly by while there were droves of hungry people scouring the internet for content that would drive them to a closer walk with Jesus. And then, I did nothing. Weeks, in fact months, have gone by without a single post. Why? Perfectionism.


There have been countless topics that have rattled around in my head, endless ideas that I know would be a blessing to my readers. But with a growing business, a new baby (#4), and all the responsibilities of being a husband and father, how could I ever have time to write a post that lived up to the almost unreasonable standards I place on myself? I couldn’t, so I didn’t For some reason, in my mind it was better to do nothing and do it perfectly, than do something that could help others and perhaps it have a few mistakes or typos. Sound familiar?

Perfectionism is a nasty disease that affects far too many Christians, preventing them from achieving their goals and implementing their visions. Perhaps you won’t witness to your neighbor because you are so afraid you’ll say the wrong thing. Maybe you don’t volunteer for the church choir, because you know you’re not nearly as good as Sister Johnson in the 3rd row. And sadly, perhaps you’re even one of those churchgoers who has never experienced the unmatched peace and love that comes from a relationship with Jesus because, “you’ve got some things you need to get in order first”.

I’ve read the Bible cover to cover, and I didn’t find one perfect person other than Christ himself. Every other follower was blemished & flawed, especially at their time of conversion. The “hall of faith” in Hebrews 11 could just as easily have been a “hall of shame” as most of those listed have some of the most notorious failures and colossal screw-ups listed in the holy writ.



The fact is that God is not looking for perfect people, just willing ones. Moses couldn’t talk right, Joseph was a little too impressed with himself, David blew it in a moment of stupidity, Peter couldn’t seem to get his foot out of his mouth, and Paul was a hateful persecutor of anything that moved. However, the one thing they have in common is that they were all used by God in a powerful way. Could you be next? I’d love to hear your thoughts…

(I wrote this blog post in 20 minutes and only proofread it once. So it may not be perfect, but it is done, and out there on the internet to bless anyone who happens by the blog. Yes, I can do it, and will continue to do it…perfect or not.)