Passive & Multiple Sources of Income

No one may get rich working for others. One can get rich only when you have other people working for you or your money working for you. You have to consider two major sources to increase your income; create a passive income and get multiple sources of income.

First, you have to save up some money and take calculated risk to invest it wisely to earn a passive income. Passive income can be bank interest earn, unit trusts investments, stocks and shares and even rental derived from renting your residential or commercial properties.

Then, you have to manufacture or sell multi-line of products (for manufacturers and re-sellers). You have to manage more 'taps' to get multi flow of income, especially during the current turmoil, fuel hike and rise of food prices.

I want you to think about a female cow. It has 6 nipples. If you are a farmer and you only tap milk from one of the nipples, you are not getting enough, and you may remain poor. You should tap from all the six nipples!

Newspaper Vendor

At around 12 midnight, I was driving home after attending a dinner party and I saw a tired and sleepy old man selling newspapers along the roadside. I stopped by and bought newspapers from him. I said, "Uncle, it's raining heavily and there won't be many people passing by and buy newspaper from you. You should go home and sleep early."

This newspaper vendor uncle quipped, "I will stay till1.30am. I cannot fail my customers. My customers will be very disappointed if they don't see me here."

Yes, are you committed to your customers? Customers are the people who offer you a comfortable lifestyle. They will take away your lifestyle if you don't take good care of them.

Are you in discomfort or in boiling water

The recent global fuel hike and food shortage are making it difficult for retirees to cope. They are old, frail and weak. They cannot turn back the clock and they regret for not having more money saved for retirement.

For the rich or those who are above average, they still can cope with the rise prices of groceries and transport, because they have a 'gap' for adjustments. They can travel on budget airlines instead of economy class, or even travel on buses. They can ride a bike to work instead of driving there. They can queue in general hospitals for treatments instead of going to private hospital. They are going through discomfort or inconveniences now.

For the poor, they are already riding to work, they are already queuing in general hospitals, they are already find it difficult to cope with life even without the fuel hike. They are now in trouble! They are now in boiling water!

Are you going through the stage of discomfort or are you in boiling water?

Another small idea for Great result

The alcohol content in a Guinness Stout has been 8% since I first started drinking Guinness Stout beer many years go; maybe more than 10 years.

Recently Guinness Stout has reduced the alcohol content from 8% to 6.8%. I think this is another small idea that can bring great result by increasing sales.

When the Guinness is of less alcohol, drinkers can drink more bottles. On the other hand, for drinkers who shy away from Guinness because they cannot hold much alcohol or bitterness (due to alcohol) may switch to Guinness for its golden smooth greatness. Guinness sales should increase by 15% to 20%.

Isn't that a small idea that can bring great result?

A young man leaving home to seek his fortune. His father told him to remember the three types of bones, namely the wishbone, the jawbone and the backbone.

The wishbone will make you want good things in life. Without the wishbone, you may be a very contented person.

The jawbone will help you ask questions, and the answers will bring you closer to the things you want in life. Do not feel shy in asking.

The backbone will keep you focus on your road to success until you get it. A man without backbone can be easily influenced by bad elements.