- Jan 16, 2019
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The purpose of this thread is to provide support and encouragement for industrious pursuits through the exchange of ideas, personal projects and prayer. Financial self-sufficiency is the goal with the Lord at the helm. Feel free to ask questions or request feedback. I've included biblical support for your reference and additional information to assist your efforts.
Preparation: Give a portion to seven, or even [divide it] to eight, for you do not know what misfortune may occur on the earth. -- Make provision for the unexpected through multiple channels.
Diversity: Sow your seed in the morning and do not be idle with your hands in the evening, for you do not know whether morning or evening planting will succeed, whether this or that, or whether both alike will be good. -- Diversify your income. Don't put all your eggs in one basket.
Stewardship: Be diligent to know the condition of your flocks, and pay attention to your herds; for riches are not forever, nor does a crown endure to all generations. -- Flocks and herds are references to resources (work, money, investments, skills, connections, etc.)
Of the tribe of Issachar, men who understood the times, with knowledge of what Israel should do
We must emulate the sons and daughters of Issachar in this hour. We no longer have the liberty of ignorance nor the safety nets of previous generations. Missteps in current times are more cataclysmic than before. We must be prepared.
Gone are the days of guarantees and promises. Don't stake your hopes on employers, the government or retirement plans. The fine print can change and it has. As of 2024 the full retirement age for most participants in this forum is 67 and reforms are underway elsewhere to increase that number and similar discussions are occurring here as well. In 2034 the excess reserves in social security will be exhausted.
The cost of living never deflates. What's required today is unlikely to meet our needs tomorrow. Don't be misled as others were. Develop strategies that lessen your dependency and reliance on traditional sources. Be industrious and put alternatives in place to counter setbacks or reductions elsewhere.
The bible reminds us that things don't always go as planned. We must be willing to adjust our thinking to do as He instructs. Everything the bible says on the subject is plural. We have flocks and seeds and portions. We need more than one.
When you're devising multiple income streams you can approach it in two ways:
Take an idea and build it out. Look for ten ways it can be monetized. If you're doing it on the Internet that's pretty straightforward. The other approach is financial. You choose a number you want to earn on a yearly basis and devise income streams to accomplish it. While they may appear similar at first glance they differ significantly.
Option one is a great starting point for beginners. You want to write, start a podcast or YouTube channel. You don't know if you'll like it or be successful or you don't have a lot of knowledge in the subject area. When the latter is the case you're using a journeyman approach. You're taking the audience with you and sharing your experiences. It's also the spaghetti stage. You'll try a few things and see what works and expand the best.
Option two is more reliant on expertise. You don't have to be a guru but you have to know what you're good at. You've developed the idea into a vision and a strategy. You know where you want to go. You have an end in mind and it usually involves some level of authority. There's less spaghetti in this approach and lots of narrowing. Specialization and mastery are desirable. There's a lot of stacking. Instead of working forward you begin with the end in mind.
Fashion is a great example of multiple income streams and demonstrates both.
Digital projects are easier and have less overhead. Digital products are great for beginners. Look at Etsy. You make it once and resell it (in most instances). They're a great source of passive income. You're not limited to business hours. That's why it's popular. When you're contemplating ideas take inventory of your skills and what you'll have to learn or improve for your projects. It helps with your planning and prevents you from focusing on the wrong thing.
Good luck!
And let the [gracious] favor of the Lord our God be on us; Confirm for us the work of our hands— Yes, confirm the work of our hands.
~bella
Preparation: Give a portion to seven, or even [divide it] to eight, for you do not know what misfortune may occur on the earth. -- Make provision for the unexpected through multiple channels.
Diversity: Sow your seed in the morning and do not be idle with your hands in the evening, for you do not know whether morning or evening planting will succeed, whether this or that, or whether both alike will be good. -- Diversify your income. Don't put all your eggs in one basket.
Stewardship: Be diligent to know the condition of your flocks, and pay attention to your herds; for riches are not forever, nor does a crown endure to all generations. -- Flocks and herds are references to resources (work, money, investments, skills, connections, etc.)
Of the tribe of Issachar, men who understood the times, with knowledge of what Israel should do
We must emulate the sons and daughters of Issachar in this hour. We no longer have the liberty of ignorance nor the safety nets of previous generations. Missteps in current times are more cataclysmic than before. We must be prepared.
Gone are the days of guarantees and promises. Don't stake your hopes on employers, the government or retirement plans. The fine print can change and it has. As of 2024 the full retirement age for most participants in this forum is 67 and reforms are underway elsewhere to increase that number and similar discussions are occurring here as well. In 2034 the excess reserves in social security will be exhausted.
The cost of living never deflates. What's required today is unlikely to meet our needs tomorrow. Don't be misled as others were. Develop strategies that lessen your dependency and reliance on traditional sources. Be industrious and put alternatives in place to counter setbacks or reductions elsewhere.
The bible reminds us that things don't always go as planned. We must be willing to adjust our thinking to do as He instructs. Everything the bible says on the subject is plural. We have flocks and seeds and portions. We need more than one.
When you're devising multiple income streams you can approach it in two ways:
Take an idea and build it out. Look for ten ways it can be monetized. If you're doing it on the Internet that's pretty straightforward. The other approach is financial. You choose a number you want to earn on a yearly basis and devise income streams to accomplish it. While they may appear similar at first glance they differ significantly.
Option one is a great starting point for beginners. You want to write, start a podcast or YouTube channel. You don't know if you'll like it or be successful or you don't have a lot of knowledge in the subject area. When the latter is the case you're using a journeyman approach. You're taking the audience with you and sharing your experiences. It's also the spaghetti stage. You'll try a few things and see what works and expand the best.
Option two is more reliant on expertise. You don't have to be a guru but you have to know what you're good at. You've developed the idea into a vision and a strategy. You know where you want to go. You have an end in mind and it usually involves some level of authority. There's less spaghetti in this approach and lots of narrowing. Specialization and mastery are desirable. There's a lot of stacking. Instead of working forward you begin with the end in mind.
Fashion is a great example of multiple income streams and demonstrates both.
- Perfume
- Makeup
- Skincare
- Clothes
- Shoes
- Handbags
- Jewelry
- Accessories
- Eyewear
- Digital media
- Products
- Subscriptions
- Ad revenue
- Affiliate income
- Sponsored posts
- Collaborations
- Articles
- Events (you host)
- Speaking engagements
- Paid appearances (non speaking)
- Solve a problem
- Share how you've solved the problem or you're doing it (in-process)
- Support people with the problem
Digital projects are easier and have less overhead. Digital products are great for beginners. Look at Etsy. You make it once and resell it (in most instances). They're a great source of passive income. You're not limited to business hours. That's why it's popular. When you're contemplating ideas take inventory of your skills and what you'll have to learn or improve for your projects. It helps with your planning and prevents you from focusing on the wrong thing.
Good luck!
And let the [gracious] favor of the Lord our God be on us; Confirm for us the work of our hands— Yes, confirm the work of our hands.
~bella