1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

How Many Income Streams Do you Depend On?

Discussion in 'Making Money' started by blackhatcatz, May 17, 2008.

?

How Many Income Streams Do you Depend on?

  1. Just One, Full Time

    0 vote(s)
    0.0%
  2. I have Two and Split time with them

    0 vote(s)
    0.0%
  3. Three Solid Income Streams

    0 vote(s)
    0.0%
  4. Four or more

    0 vote(s)
    0.0%
Multiple votes are allowed.
  1. blackhatcatz

    blackhatcatz Power Member

    Joined:
    Feb 8, 2008
    Messages:
    599
    Likes Received:
    104
    Occupation:
    internet marketer, call center owner
    Location:
    Somewhere Asia, Moving around all the time
    How Many Income Streams (Money Making Methods) Do you Depend on and How do you focus your energies to them properly? Ie. if 80% of your income comes from 20% of your business do you put all your time there (just like pareto said)


    All the best,

    catz
     
  2. booman

    booman Regular Member

    Joined:
    Mar 6, 2007
    Messages:
    478
    Likes Received:
    87
    Location:
    USA
    Honestly I have 2...my wife's and my day jobs. These pay the bills and put food on the table. All my online stuff goes to eliminate debt and fun money.
     
  3. blackhatcatz

    blackhatcatz Power Member

    Joined:
    Feb 8, 2008
    Messages:
    599
    Likes Received:
    104
    Occupation:
    internet marketer, call center owner
    Location:
    Somewhere Asia, Moving around all the time
    That's cool still waiting for other people to post some stuff here. :)
     
  4. voxclan

    voxclan Regular Member

    Joined:
    Feb 11, 2008
    Messages:
    267
    Likes Received:
    274
    I have 3 but don't like it this way since one is bringing 75% of income.

    I am working on 2 new income source and everything should be ready before fall.

    Ideally, I want no more then 40% from one stream and this is my goal.
     
  5. filmy

    filmy Junior Member

    Joined:
    Mar 9, 2008
    Messages:
    158
    Likes Received:
    763
    I have the following:

    1) online income
    2) screenwriting
    3) producer
    4) gambling
    5) day trading
    6) real estate
    7) government auctions

    I obtained all the other income streams AFTER my online income started being successful. I don't trust the internet enough to rely on it for all my income.

    So I took money from the internet businesses and started branching out but I actually started working the net for income so I wouldn't have to go get a real job after I retired from the Navy back in '98. I just wanted to focus on screenwriting and finally, two years ago, sold my first screenplay. I managed to parlay that sale into a producing gig.

    I actually started making so much money that I figured I had to do something with it... LOL. Again, I branched out to other income streams.

    I do the government auctions with my brother. I supply the $$$$$ -- he supplies the manual labor to go pick up the stuff and bring it on back home -- then we split the profit MINUS whatever I put into it.

    I busted my ass for 3 years straight after I retired from the Navy working online at least 12-14 hour days. Now all my online stuff pretty much runs itself with MINIMAL maintenance. I was lucky... When everyone I knew was trying to make it big with internet marketing SHIT, I focused on real life info products that rarely required me to come out with anything new.

    I would say that my current income stream works out to be:

    1) online income: 25%
    2) screenwriting: 25%
    3) producer: 25%
    4) gambling: 10%
    5) day trading: 5%
    6) real estate: 5%
    7) government auctions: 5%

    I keep trying to increase the other streams but I'm fucking lazy... LOL. I've only been buying real estate for the last 5 years and although my properties have increased in value quite a bit, I won't realize much of a profit on them till I sell 'em off. However, I do make money with the write-offs.

    Every once in a while, I'll go crazy with the day trading for 3 weeks to a month and then stop for a few months after I make some good money. I also buy quite a few rolling stocks that keep doing the same rollercoaster ride for me... Took me 7 years to find all those stocks.

    I guess I work the hardest at screenwriting and then producing... I write at least 4 to 8 hours a day and field phone calls all day long and sometimes deep into the night/morning because of time differences around the world.

    I only found BHW a couple of months ago and it's been a great little place to hang when I take a break from writing and the phone calls.

    I don't know if any of that helps...

    filmy