SEMINAR RECAP ON THE TREASURED ENTREPRENEURS ASSOCIATION TEA HALL OF WEALTH GENERAL ACTIVE GROUP PAGE

👉🏼Theme:

❤ WHY YOU NEED TO HAVE A MULTIPLE STREAMS OF INCOME

🎤 SPEAKER/FACILITATOR/DISCUSSANT

🗣 Mr Ibrahim Tijanni…

Good evening ladies and gentle men in the house ..

May the good God grant you all your heart desires .. And allow us take this platform to the larger part of the world

Firstly i will like to appreciate the effort of our great and able project director for giving me another opportunity to deliver this very important seminar..

Without taking much of our time …

This is a topic we really need to give utmost attention and uppermost consideration if we must be financially independent as an individual

In a simple definition, your source of income is where you are getting money from

for example, employment, investment ,welfare..etc

Firstly i will like to let us know that many of us don’t really understand what is meant by source of income and how to manage it

But most of us have limited ourselves to seeing employment as the only source of income

For a person working for a wage, their source of income is their job, or their labor (aka their time that they sell to someone). But you can own a house, and rent it out, and when your renters pay you renter every month, the source of that income check is your rental property, or your house

I will list for us the 7 source of income which we don’t really know before

1. Earned Income. Earned Income is the money that you earn by doing something or by spending your time e.g. the money that you make in your job, the salary you get by working for someone else. …
2. Profit Income. …
3. Interest Income. …
4. Dividend Income. …
5. Rental Income. …
6. Capital Gains. …
7. Royalty Income.

And we all are facing the direction of doing a white collar job

The present state of the economy does not guarantee job security especially in the private sector where some organisations are finding it difficult to remain in business.

What do you do if you have in the letter that your services is no longer needed???🤷🏼‍♀🤷🏼‍♀

Or you wake up tomorrow, get to the office and meet a letter on your table that your services are no longer needed????

With this letter, some people end up committing suicide and all form of harm to their life

All bcos that’s the only source of income the have…

Most people don’t have JOB security….

Now to the importance of having additional income (source of income)…

1. Helps You To Reach Your Financial Goals Speedily

Having alternative income is a great way to reach your financial goals; it could be a building project, debt reduction and retirement savings. Whatever, it is, with your drive for additional income streams, your financial set goals can be accomplished quickly.

continuity or survival is a major challenge. It is imperative for every employee or individual to have a financial set goal and think of how to accomplish it, irrespective of his or her earnings.

2. Provides a safety net…
   Multiple streams of income offer you a safety net such that survival will not be a big deal to you and your family if peradventure you lose your job or finding it difficult to secure a stable job.
3. Generates more financial security.
   Apart from the fact that multiple streams of income provide a safety net for you, they can also create additional financial security for you. For instance, money generated from multiple streams of income can be kept aside for saving and investment while your monthly take-home can be used to offset your monthly bills. With multiple streams of income you are able to safeguard your financial future, especially if you are not the extravagant type

Permits You To Be Innovative

You can make extra money through creativity or what you are passionate about especially if you are not getting job satisfaction in your current job. That is why having multiple streams of income is not all about the money, to some people, it is the fun derived from it….

When you dont have some killing incidents to think about, you will be innovative in your thinking

This will allow you to have more control over your money than if you earn income from just one or two sources

Will use myself as an example here…. Any spending that doesn’t have a good returns now is no go area for me.. Because all i think about is business and how yo make profit from anything i do

After you been innovative , you tends to take calculated risk in all you do

All you will think about is how to make thousands and millions of naira

ways to generate different source of income

1: Diversify your investments.

As an investor, you should always seek to diversify your portfolio as much as you can. Just like you don’t want to bet your future on a single 9-5 job, you don’t want to bet the farm on a single stock, either.

2: Offer a service or sell something.

Let’s say your investment portfolio is fully diversified, but you’re still aching for more streams of income. You can pick up a part-time job for sure, but there might be a better way to earn cash on the side. By offering a service or selling something, you can create a small side business that you get to control.

3: Create a product.

Let’s say you want to sell something but don’t want to join an MLM . That’s perfectly reasonable, but that doesn’t mean you have any idea what to sell.
How about creating your own product? If you’re creative and savvy, you can dream up some new product and promote it …

Less risk, more control
Obtaining income from numerous sources helps you to be less exposed to financial risks.

Besides, when you have several streams of income, you are much more expected to generate more earnings, than when you make or earn income from only one source.

In conclusion..

Expanding Your Sources Of Income

Putting all your eggs in one basket will do you no good especially when confronted with financial problems; worse still, losing your job!

To avoid such, it is very essential not to rely on one source of income but rather try as much as possible to diversify your sources of income. Developing multiple income streams will not only enable you to surmount financial crisis but also help you to survive sudden decrease in your income.

Here i will drop the pen on tonights seminar…

Thank you very much… And God bless…

Sleep and think on how to have the minimum of 5 source of income for yourself .. And you are on your way to be like dangote…