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Building a Career from Different Income Streams

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https://99u.adobe.com/articles/67288/building-a-career-from-different-income-streams

99u.adobe.com

Building a Career from Different Income Streams
A guide to a less traditional approach to earning a living.

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Portfolio career

Portfolio career

Multiple income streams can add up to be equal or more than a full-time salary.

Your career does not have to be a linear journey to be successful, nor do you have to be confined to just one...

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Diversify the way you work

The full-stack freelancer has proven to be a new kind of stable where the smart thing to do is to have a diversity of income streams.

You don't have to use the same skill set i...

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Your business model

  • Ensure you have a stable income stream before you take attention away from it.
  • Let your audience, customers, and fans tell you what they want. If you can understand when your marke...

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Create an “income pie”

Working hard and a lot to make more money is a myth. Each pool of income requires different amounts of effort, and the income can fluctuate from year to year.

Creating a pie char...

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The quest for passive income

The idea of a diversified portfolio is to have different kinds of active and passive income.

Passive income is investing time and money up front to help earn money continually even whil...

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From full-time to multiple income streams

  • When you're fully self-employed, you'll need to earn more because you'll need to pay both employer and employee taxes, pay your own health insurance, fund your retirement, and co...

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SIMILAR ARTICLES & IDEAS:

Time is not money

Time is not money

Even if these two share some connections, time isn't money. Time is energy, money is a thing. And they each have power over our lives.

Money is infinite but time is...

Disrupting the time-money relationship

Investing and passive income disrupt the time-money relationship.

To make money without having to trade any of your time frees up your time to ultimately do things that are more important to you.

The best investing strategy

  • Make as much money as you can
  • Keep your expenses low
  • Invest the difference
  • The more you invest, the faster your money will compound and bring you more money
  • Sit back and earn money with no effort. You are no longer trading your time for money.

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Defining "Success"

“Success” isn’t just having lots of money. 

Success is continuously improving who you are, how you live, how you serve, and how you relate.

Lose an hour in the morning, and you will be all day hunting for it.

Lose an hour in the morning, and you will be all day hunting for it.

Putting "first things" first

Start the day with your #1 priority.

Getting up early isn’t enough. You need to put first things first. When you put your top priorities first, then you ensure they make it into the bucket of your day. After your main priorities have been completed, the rest will fill the gaps.

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Using the right vocabulary

Using the right vocabulary

When switching from being an employee to a freelancer, you should pay particular attention to the way you express yourself, the words you choose.

For instance, integrating words such a...

Name your business right

A very important step when starting to work as a freelancer is to actually call your business as what is: a ‘freelance business’.

These kind of words encourage your clients to perceive you as being trustworthy while giving you a better feeling of ownership.

Avoid using ‘ I need..’

Whenever we hear the ‘I need…’ words, we all tend to get a bit irritated by this way of being requested to provide something that always seems of the most utter importance.

On the other hand, there are expressions which could easily replace the ‘ I need…’ while giving the other person the impression that everything is under control.

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