How many legs does your chair have?

Jeremy Bhimji
Author, Speaker, Trainer, Coach
Personal Finance

Jul 05,2017

How many ways are you making money? For most people, the answer will be one. If you are like most people…we need to have a serious talk.

I want you to think about your life and everything in it. Family, friends, home, car, insurance, entertainment, vacation, etc. Now I want you to imagine that you are juggling all those things and you are sitting on a chair with only one leg. Now you are trying to stay balanced while juggling all those things and suddenly someone comes up behind you and kicks that leg out from the chair. You would no doubt fall, drop some of the things you are juggling, and try to figure out a way to get back up on that chair.

Most of us are doing this on a day to day basis. We have all our lives up in the air, and we are trying to balance on that one stream of income to make sure everything is taking care of. I’m sure many of you in life have been laid off, fired, or quit a job at some point. These can be very scary times if you are only making money one type of way. Your goal from this day forward should be for that chair to have so many legs, that if one were to get kicked out you wouldn’t even notice.

This article is going to be about four creative and outside the box ways to add a secondary revenue stream to your life. And before you start making excuses about how you are “Too busy” I just want to let you know that is the adult equivalent of “The Dog ate my homework”. People always find time for what they value. If you want to find time, you will. The average American watches 4 hours of TV a day…I would consider starting there 😉

1. Network Marketing – This is number one because I personally believe this is one of the most powerful ways of making money in the world. I am a huge believe in Network Marketing (One, because I make a ton of money in the industry every single week, and two, because it allowed me to walk away from a full-time career and buy my time back.) Most network marketing companies have a very low franchise fee and offer the ability to make residual based income which is a very powerful way to earn. Also, many companies have some form of fast start incentive to help you get off to a quick start. My company for example, has a $2,000 bonus on the table this month for all new franchisees. Many companies offer things like this.

2. Become a Contractor – If you are looking to add a second stream of income, you should be looking for something flexible that you can fit around your schedule. Services like Uber, Lyft, Via, Postmates, Doordash, and Grubhub all allow people to make extra money whenever they have the time to do it. You can just do it for a couple hours on weekends or just while you are around town running errands. Getting started is simple and in some places, you can make $25+ an hour.

3. Sell things online – Sites like eBay, Amazon, Craigslist, and Etsy are great places to sell things. You can start with things around your house and then branch out from there. I know there is a ton of money to be made just by going around to your local Thrift Store and posting the things you find online. The best part is that you don’t need a whole lot of money to start and you can use the money you make from selling the extra stuff around your house to use to purchase from the Thrift Store. There are also things like arbitrage selling, where you can sell things you don’t own yet, but I would do a little research on that before you dive in head first =)

4. Freelance Writing! – I hope most of you reading this are taking advantage of everything this platform has to offer. You are able to write a couple articles a month, share them on social media, build a following and get paid for it! Not only that, there are plenty of other avenues that will open once you have a decent portfolio of work written. Just last week I was contacted by a company here in Chicago that offer me $1,000 to speak at a conference they were having here in August. (Which I happily accepted!) That is the tip of the iceberg when it comes to speaking fees, and once you have published work out there, people will begin to contact you.

I hope this helps guys and I just want to share with you that there is no better feeling than financial freedom. I love waking up every morning and not having any stress in my life because of money. I wish that for all of you. 

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