In Monster-In-Law, Charlie Cantilini (Jennifer Lopez) is a temp/dog walker/yoga instructor and aspiring fashion designer. While Jane Fonda (the monster-in-law) takes issue with Charlie’s multiple streams of income. These days Charlie would be the fortunate one, because having different jobs in place means if one slows down (like the temping) she can still make money teaching online yoga and walking the dogs, while continuing to follow her passion for fashion.
What does your business portfolio look like? Do you have a day job? If so, do you have another income source should you lose your day job? If so, do you have another source of income should your other source not be something people want to invest in during unpredictable times?
Back in 2017 I published a blogpost “My Greatest Takeaway From Shark Tank” I wonder if you read it. Imagine if you did but didn’t take action and now you find yourself in a place where you’re wondering, “What if I HAD started another income stream back in 2017 when Jessica suggested it. Where might my finances be now?”
Whether you were a reader then or not, ask yourself this; what if you had started a side hustle in 2017 and built it up and then started a second in 2018 and when that was going well added a third income stream in 2019? What could be possible if you had 3 successful businesses right now?
It is possible, because I do. If you re-read my blogpost above, I’ve added a 10th income stream, and it’s a good thing, because many of those other streams are suffering right now, while my latest is wildly successful.
You can listen to the naysayers like Charlie’s monster-in-law, or you can follow your instincts and add income streams to your portfolio. I’d hate for you to be reading my newsletter in another three years, to realize that if you’d started something today, you would be in a much better place mentally and financially.