On Multiple Streams of Income

by Tony Chung on December 8, 2010

I’ve been doing some research recently about various money making scenarios. There are basically two primary ways of gaining income. One would be to focus your efforts on one solid venture and the other would be multiple streams of income. If your goal is to work minimally, make a lot of money in a short amount of time, and retire early, it seems that multiple streams of income is the way to go.

Yes I am gung-ho about the ties between Starcraft and entrepreneurship, but I must make one more analogy. In Starcraft, if you focus all your efforts and resources on building one solid base, you’re much more likely to fail than having backup bases in case you get attacked. Ideally, you want to have 2-3 bases generating resources and constantly expand.

I guess there are a few different ways to perceive this situation. After a few years, Google (a massive entity) now has multiple streams of income through their various products. A blogger may have multiple streams of income from the beginning by building hundreds of mini niche sites.

Bottom line is don’t put all your eggs in one basket.

Your thoughts?

{ 2 comments… read them below or add one }

Donell Creech February 11, 2011 at 12:05 am

great post tony. ive always aspired to what i call the atm model of wealth…making a little bit of money from a whole shitload of people!

Tony Chung May 16, 2011 at 7:06 am

Thanks Donell, couldn’t agree more buddy 😉

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