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The Top 2 Ways To Turning Your Passions Into Multiple Streams of Income

In Making a Living Without a Job, Barbara J. Winter described the idea of Multiple Profit Centers: “I think of creating profit centers,” she wrote, “as being akin to what a juggler does when spinning plates on top of sticks. The juggler walks out on the stage with ten sticks and ten plates but doesn’t begin spinning them all at once. Methodically, he or she positions the first plate on a stick and gets it into motion. Once done, the juggler moves on to the next, then the next, and so forth. Eventually, all ten of the plates are spinning away, each with its own momentum”

Creating multiple streams of income is key to sustain and secure your message. When one of the streams faces a hard time, others lift you up.

When it comes to creating multiple streams of income (or multiple profit centers as Barbara likes to call), people are divided into two groups:

1. Dominant Passion:

Those are people who have one dominant passion and would like to spend the rest of their lives pursuing that single passion.

Around this dominant passion may revolve several streams of income.

I belong to this category. I’m extremely passionate about the field of success and motivation. Now, I’ve three major streams of income: speaking, life purpose coaching and motivational information products … and I’m always looking out for more.

2. Passion Mix:

When you have several passions, which I call the passion mix, you can turn each one of them into a stand alone stream of income.

Think of Sir Richard Branson!

Beside success & motivation, I have a strong passion for Chess. I’ve not considered creating a profit center around it yet. However, if I do, I will belong to this category of people pursuing different unrelated passions.

The secret to making the idea of “multiple streams of income” successful is to follow the juggler example.

Start with one plate, get it into motion and then move on to another plate.

Don’t start everything all at once.

You’ve to focus all your efforts on starting and building momentum for your first business idea. Then, when it acquires the momentum that makes it stable enough, you move on to build your next business idea or stream of income.

Now, what possible streams of income can you create around your passions? Let’s continue the discussion in the comments section below.

Mohamed Tohami is a bestselling author and the creator of “The P.A.S. Technique: The World’s Easiest Way To Find Your Passion and Purpose In Life”. If you want to set your heart & soul free from the prison of the paycheck and discover how to proudly follow your passion, give a visit to his Transformational Motivation blog now.

 

  • leeanne

    This is a very poorly written article that wouldn’t pass muster in a 10th grade English class.   What about Sir Richard Branson?   You need supporting evidence for this topic sentence.     Overall, you’ve provided generalizations and no details on the topic of multiple streams of income, then you ask the reader to fill in the gaps with information you should have researched and provided.

    • http://www.transformationalmotivation.com/ M. Tohami

      Thanks Leeanne for your feedback. Sometimes, I write articles that provides the reader with a space to think and reflect. That’s why I invited the readers to continue the discussion in the comments section. For example, those who don’t know Sir Richard Branson might Google the name and learn more about him. I believe this way increases reader engagement and also improves the learning experience. 

      • Jamie

        something that i would have found useful is maybe a hyperlink on his name to an article that relates him and your topic.  i liked the article overall and i think that its good to surf the web when presented with an unfamiliar name.  for srb, you could have linked his name to the Day in the Life episode on Hulu that features him, Virgin, and his charitable outreach

        • http://www.transformationalmotivation.com/ M. Tohami

          That’s a very good idea. Thanks for your constructive feedback.

  • http://pristineperception.com/ Suzanne

    “Don’t start everything all at once” That was my problem. Then the domino effect occurred.  Frustration, confusion and exhaustion. This is a very important yet overlooked point.

    • http://www.transformationalmotivation.com/ M. Tohami

      This indeed is an overlooked point. That’s why we should learn how to manage our enthusiasm. 

  • Kathy N

    I’ll remember this, “Don’t start everything at once.”

    http://daily-iphoneography.posterous.com/

    • http://www.transformationalmotivation.com/ M. Tohami

      That’s an excellent take away!

  • stephyrulz

    I like this idea of making money through various avenues – it’s good for those who can’t fully commit to one thing because there are so many opportunities and niches in the world. I do agree you could have expanded a bit more, though.

    Stephanie
    http://www.theglamguide.com

    • http://www.transformationalmotivation.com/ M. Tohami

      It is now very easy to test different niches and see which one grows faster and easier. Starting a few blogs and see which one resonates more with you and your market could be a good strategy,

  • http://blog.self-improvement-saga.com/ Coach Nea

    I think a lot of people fall into the category of having a passion mix. I definitely agree that focusing on one passion and building that business first is more effective than attempting to do everything all at once. 

    • http://www.transformationalmotivation.com/ M. Tohami

      Focus is key. You can’t move on to your next big idea before you’ve built enough momentum for the first.