How to start parallel streams of income?

This is a universal question which has crossed at least once in everyone’s mind.

When I was in a job, I hardly had any extra source of income. However, due to certain circumstances, I had to freelance for quite some time along with the job.

But then it was too time consuming for me at that point of time.

When you are looking to start parallel sources of income, few most important things (checklist) to keep in mind –

  • How much extra time you have to dedicate for your other source of work
  • How much adhoc work you can take on, if needed
  • How much mental capacity and stamina you have to consistently take on the pressure of more than one form of work
  • What kind of work you can take up along with my active income
  • What skills do you have to leverage that
  • How much are you aiming to earn through each source of income
  • Are you building the parallel income to leave your current source of income (most likely job) or doing it just to gain experience

So you need to keep these factors in mind and be clear on what you are embarking on.

Because passive income is not always passive because it takes time and effort.

Once you are clear on these then start by analyzing your skill sets, your strengths.

Look for the opportunities (most likely online) where you can exchange your skills for money. Some of the examples are –

  • Content creation
  • Social Media Strategist
  • Web development/maintenance
  • Copy-writing
  • Transcribing
  • Editing
  • Consulting
  • Coaching and mentoring
  • Publish a book
  • Speaking engagements

and lots more.

So be clear, analyze, eliminate what’s not needed, look for the opportunities and start you new source of income.

Intensify life to live the way you want!

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