As the end of 2010 fast approaches…you have to ask yourself, did you satisfy your 2010 New Year’s resolutions? Besides living a healthier and more active lifestyle, many proclaim to start or strengthen a business for the New Year. I’ve written many times on this topic before, but I know a little reminder here and there is a great motivator to encourage you to stay on your path to create wealth from your passions.
I think one of the biggest obstacles many find in succeeding at such a goal is procrastination. Many spend too much time worrying about learning what to do and reaching perfection prior to taking action. This is not the way to go. You can read and learn about the business and increase your knowledge, however, you should start immediately. The best experience gained on any topic or business is first hand experience. If you have to start charging low as you strengthen your skills…so be it. But, all you do by putting it off is procrastination, and for some, years can go by without a single action. As Nike says…”Just Do It”!
As far as where the income will come from, as I’ve said it before…it must come from multiple sources. Never place your eggs all in one basket. If one basket breaks, other baskets are available. Likewise, many claim that you can never make enough from a business based around your passion. That can be true, only if your income stream is limited to one source. One source may not be able to generate enough income to support a living; however, it does contribute to the total needed to thrive, hence the reasoning for multiple source of income aka multiple income contributions.
Possible sources of income can come from creating such informational products as e-books or self-publishing books, seminars/webinars, consulting, freelancing, affiliated marketing and selling products related to your industry. For more on this topic, please read my previous blog Passionate Wealth.
Remember, “Man was born to be rich, or inevitably to grow rich, through the use of his faculties.” – Ralph Waldo Emerson