How to Build Multiple Streams of Income in Your 20’s

Building multiple streams of income in your 20’s has never been easier; why does it seem so difficult to achieve? Opportunities, information, and people are within your reach more than ever.

Sad to say, most people overcomplicate the whole money-making process, thinking they’d have to put in place a full-scale business for them to earn a penny online. This is not true and I’m going to uncover the main steps to making some cool money working from the comfort of your home online.

Creating multiple streams of income in your 20’s boils down to actualizing the following 5 steps:

  • Have the understanding you’re setting down the groundwork
  • Leverage your expertise
  • Make your intentions known to people
  • Apply creativity
  • Take action

There exist multiple resources and blog posts all over the web pointing you to several ways to earn legitimate money online. While some people wouldn’t wait to see their financial success due to factors like procrastination, loss of courage, inconsistency, and lack of persistence, others are having success stories of how they consistently blogged and started earning hundreds of dollars even while they’re sleeping.

If Online Business is actually helping others gain financial independence, making thousands of dollars monthly from their self-built websites, it doesn’t mean it is the right business for everyone. So, the question now comes to you: Are you ready for online success? Are you willing to give all it takes to gain financial freedom in a lifetime? Would you want to live an exciting and productive lifestyle? Then sit back and read on…

1. Having the Understanding You’re Setting Down the Groundwork

If you are thinking I’m here to give you a secret formula to financial success or a hidden recipe for building a successful online income stream and become rich in a couple of months, then this article isn’t for you.

There is nothing like get-rich-quick schemes anywhere as people claim. I don’t believe in such non-existent schemes and you shouldn’t as well. If anyone tells you there’s an opportunity somewhere to become rich quick, know that you’re dealing with a scammer.

You’ll likely get scammed or lured into something that will end up wasting your time, effort, and money without being able to show anything for it.

Setting down the groundwork now is the first step required to build multiple streams of income in your 20’s. If you’ve ever experienced the analogy of constructing a house, building multiple streams income is exactly the same. Just as you’d have to lay the foundation first before starting to assemble the whole structure, so you’d first lay down the groundwork for your online business.

This is simply part of what you need to do upfront and then you start earning passive income over the long haul. A friend of mine says, “If you don’t build an income stream that will generate you income passively even when sleeping, you’ll work till death”.

By the time you’re in your 30’s, you’ll have started living like a king, earning thousands of dollars monthly from your blog. Smart Bloggers earn more than $100,000 from their blogs monthly. Consistency, patience, and self-awareness are instrumental in building a successful online business from scratch.

Sometime ago, I was in the situation of earning $0, $1, $2, and more like that monthly. Life was hard, so to say, and everything seemed hopeless for me far back, but stayed consistent building out content as well as promoting my blog through the white hat SEO strategies. With a long-term perspective and patience, I knew I was going to start making money online.

Rather than getting discouraged at the token earning you’re still generating today, consider the big earnings you’ll be generating in the nearest future knowing that you’re still setting down the groundwork.

2. Leverage Your Expertise

We do have diverse and awesome skills, interests, and/or passion that we can live on. What this is analyzing to you is that you can make money off your passion or interest. What do you love doing? Writing, copywriting, translating, blogging, or what? Just name it. You can make some extra income off those skills. The internet is a world of great opportunities and you can leverage it once you are willing to be persistent.

If you’re an expert at something and can provide value to other people by utilizing it, then making money is guaranteed.

Though people try to emulate others in what they do and make some extra money off that, it’s definitely not going to last for a long time so far it’s someone else’s skill; not theirs. If you really want to build multiple streams of income working online in your 20’s, the best way to achieve that is leveraging your expertise. You’ll make money online and become financially free in your 30’s.

One of the things that frustrate people most about those eBooks sold out there is that they do teach simple and specific ways to make money online. Experientially, this might only be helpful to 2% while 98% may end up wasting a nasty lot of time, money, and energy trying it out.

However, if these people had restricted themselves to what they are good at (their expertise), they would have eventually saved a lot of time and money, let alone talking about energy.

There are diverse money making opportunities out there online for anyone, no matter the skill or experience they had got. These include online survey taking, translation, transcription, writing, logo design, and many others.

Whether you have a specific skill or not, there’s always something you can do online to make a living. By mere giving opinions to companies’ products, you can get paid. That is what we refer to as survey taking.

3. Make Your Intentions Known to People

If you will achieve any meaningful success in Online Business, you’d have to set goals and keep track. While trying to make people know about your goal or sharing your objectives, know who you are sharing with and what advice you’re taking from others lest you get confused.

For example, I knew a newbie blogger who started with the goal of creating 5 solid articles weekly on his blog. After doing this consistently for the first three months, he started digressing gradually due to certain pieces of advice he got from people.

He changed his initial plan to posting once per week (as opposed to 5 posts per day that he has been doing). The effect of this change is a drastic drop in his Google PageRank which means a decrease in revenue potentials.

So, while sharing your goal with people, you need to realize that not all of those people would be willing to give their full support, but some will definitely do. So, when you set goals for your business, there will be some people who will represent influencers.

To build multiple streams of income, you actually need to share your objectives but you need to do it with a lot of care, knowing what you are doing precisely and where you are heading to.

Speak About Your Plan Rather than Telling People about Your End Goal

Rather than disclosing your end goal to people, talk about your plan for achieving those goals. Creating multiple streams of income is not what you can accomplish in a day; it takes time, effort and resources to get there. You don’t wake up in a day and expect to see things happening. Rather you wake up and make it happen.

As earlier mentioned in this post, building a passive income stream is just like laying down concrete blocks for the basement of a 25-storey building. It takes much time, energy and money to build the house to a completion stage. Imagine the lots of effort! Imagine the lots of time! Imagine the lots of money as well!

For example, I have an end goal for this blog which no one knows about except me alone, and I do have a plan towards fulfilling that goal (publishing consistently, sharing posts on social media, posting to forums, and many others) which may be disclosed to anyone or shared with people home and abroad.

So, I would have to input all I have in the plan towards accomplishing my end goal. I don’t need to share that with anyone. If you’re reading my post, you may want to believe I’m talking about my end goal, whereas, that’s far away from what anyone can imagine or think of and I want it that way exactly. My posts, social media marketing, and other white hat SEO practices are mere steps to help achieve the end goal.

To make things clearer, here are more illustrations:

When I discuss with people about my plan for this blog, I’m always amazed at what I see and hear, but I’m more than confident that I’m going to win the battle. This doesn’t mean I haven’t disclosed my end goal to some specific people before; I’ve actually done exactly and the experience is quite terrific. Knowing this thing within yourself and taking steps one after the other will surely take you there.

Though you might think building a side income of $2000 monthly is extremely low, to some people out there it’s something that isn’t possible to achieve, but possibilities are, coming up with a monthly side income of $500 could be easier and more feasible.

To some people, creating a $15,000 monthly passive income stream could be a possibility. So, be creative and keep going.

4. Apply Creativity

You have numerous ways through which you can create multiple streams of income easily in your 20’s. As I’m here writing, I cannot account for how many ways I’ve made money online in the past. Here are some that actually came to mind.

  • Affiliate marketing
  • Freelance writing
  • Real estate investment
  • Regular jobs
  • Selling a book
  • Nutrition and fitness training

If you are thinking about this list and you believed you can make money leveraging one or more of them, chances are limitless as long as you’re willing to offer quality.

5. Take Action

If you are not going to take action, none of these practices would make a sense. Failure wouldn’t matter when it comes to making resolutions to achieve financial independence. Each failure will serve as a pointer to what next should be done to successfully come up with multiple streams of income.

So, if you are experiencing failure, it’s meant to learn something new about the business and improve in the future. When you fall, ensure you pick something from the ground before you wake up.

One of the ways to ensure you are building multiple streams of income online in your 20’s is choosing something you desire, not trying to copy others. It has to work out of passion. I love promoting digital products; so I considered joining Wealthy Affiliate to learn about affiliate marketing to the core, which I did in fullness.

Affiliate marketing is one of the best ways to build multiple streams of income online and having a personal website like this one is a great step towards actualizing that end goal. It starts from there. You build the site upfront, and later, you start making money from it, even though it may take a couple of months before this starts happening at all. Taking action will crown it all, as it is the determinant factor stating whether you are making progress or not.

Conclusion

In your 20’s, building multiple streams of income is quite feasible, and once accomplished, you can then settle down with your business in your 30’s and build on while you enjoy the most out of the online business world.

I belong to an online business community called Wealthy Affiliate. It trained me how to set up a brand-new website from scratch and added a couple of tasks to be completed at the end of each lesson. Each task is designed to walk you through the process of setting up your website. If you want to experience the online business world in the real sense of it, WA has all you need to achieve that in no distant time.

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