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.
How to Get Sh*t Done will teach you how to zero in on the three areas of your life where you want to excel, and then it will show you how to off-load, outsource, or just stop giving a damn about the rest.