Introduction
For the longest time, I created and depended on a single source of income. And I have regretted it.
Ever since I started a second source of income, I realized the wisdom of it. Today, I share this motivational quote by the famous Warren Buffet.
And share with you my story and journey towards creating a second source, third source, fourth source, and many more streams of income.
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Watch: Motivational Quote by Warren Buffet – Create a Second Source
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Motivational Quote For You
“Never depend on single income. Make investment to create a Second Source” – Warren Buffet
#motivationalmonday #motivation #motivationalquotes #motivationalquote #inspiration #dreamscometrue #warrenbuffet
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Study Hard & Get A Job
Like most people, I was brought up and taught in school to study hard. The only way to make money was to get a job.
Along my journey in my career, I had opportunities to break away from the 9 to 5. These were offered to me even before I learned about multiple streams of income.
But was I not courageous enough.
My years of upbringing had brainwashed me to study hard and get a job. Every one of my friends and family were doing it. Also, I did not know better.
I was taught and told to get a good education. Then get a good and stable job. Then, when time, retire and enjoy a good life. Supposedly.
Recessions Affected Single Source of Income
And I did just that. I did what others told me to do. I followed their dreams. Not mine.
I graduated. And entered the workforce at a time when the world fell into recession. Bad timing huh?
With the bad world economy, it was hard to find a job. Eventually, I did. And started to earn from a single income.
But I was not getting rich. I had bills and loans to pay. Plus, daily needs that cost.
I changed jobs a few times just to get higher salary. But ended up spending more. And saving little.
Then came the dot com bubble burst. It did not help that I was in the dot com industry. I was retrenched.
The world became cautious about the Internet. Businesses regrouped and started to figure out how the Internet can be better used for sales.
As such, it was not easy to find work again. Just a mention that I was from the Internet industry, and I got no replies from job applications.
My single source of income was gone. And savings were drying up. It did not help that I had housing loans, utility bills and other loans to pay.
I started to find projects. And became a freelancer who created websites. Even then it was tough getting projects.
Eventually, I started to earn again. And again, just a single source of income. It was not much, too.
Years later, the Asian Financial Crisis happened. Just when I was starting to get regular freelance projects. So, again, I experienced another recession.
Again, I had loans and bills to pay. Again, loss of a single source of income.
I had enough! I decided to create more than a single source of income.
Motivated by Warren Buffet
By the time I faced the Asian Financial Crisis, I was really tired. Tired of working hard, and not having much savings. And tired of constantly paying bills and loans.
I began to hear of multiple streams of income. Then I came across Warren Buffet.
According to Wikipedia – “Warren Edward Buffett is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is considered one of the most successful investors in the world and has a net worth of over $100.6 billion as of April 2021, making him the world’s seventh-wealthiest person.”
I must admit that I do admire him. And I wished to be like him.
Over the years, I read many quotes from him. And I resonated with this particular quote. So, I decided to take action. I created at least a second source of income.
Multiple Streams of Income Strategy
I made a plan. I created a strategy. I did all this with the objective to create multiple streams of income.
First phase of my plan was to create a single source of income. And stabilise it. This meant that I must find a job that is recession proof.
Initially, I struggled to secure single source of income. Eventually I managed to do it. I secured teaching gigs with a university, a few education institutions, and even with a course by Google.
Then, while I was still working to keep this first source of income flowing, I started to create second source of income.
First, I did research on the various ways to make money. I was interested in online businesses. So, I looked up, specifically, for ways to make money online.
I learned about a few and tried them all. I did private label, FBA (Fulfilment by Amazon), drop shipping, and a few others.
I created a second source of income. Then a third source. And more.
Of all of these ways to make money online, I found the best was to create passive income. And I found it.
I came across affiliate marketing, and tried it. And it has worked very well for me. Till today, it is still the best way to make money online for me.
And it is only because I learned from a very good training platform. The program provided step by step lessons on how to do affiliate marketing. And provided tools and expert help to enable you to succeed.
Education. Tools. Expert help.
All available on the training platform. Click the button below to get the Free Training.
My #1 Recommendation
Get your Free Starter account Now!
Join the Wealthy Affiliate as a Starter member for Free! And get access to free training on starting and growing an online business as well as many free features and tools (including powerful keyword tool). Plus, you get to create a website hosted on the Wealthy Affiliate server for free.
You Get My Bonus!
When you join the above program, I will be your mentor. I will guide you, help you succeed as an online entrepreneur, and make money.
Would you like to learn how to start and grow an affiliate marketing business? Join my I Love Passive Income community for more tips and useful business information. Simply fill in the details below, and you will receive an email with instructions on how to join this invaluable community.
Motivational Quote by Warren Buffet – Create a Second Source
Timotheus Final Thoughts
I hope you enjoyed reading about my life experience? And especially benefitted from my story and this motivational quote by Warren Buffet.
I am nearly 60 years old today. And I wished I started my second source of income much earlier.
Those who are young, I encourage you to start now. Those who are older, just like me, I can tell you it is not too late to start now.
You need to learn how to do it correctly. And you need to learn how to do it well to succeed.
Below is a link to the awesome resource that I mentioned. The one that provides you education, tools, and expert help. Click on the button below, and start creating your second source of income now.
My #1 Recommendation
Get your Free Starter account Now!
Join the Wealthy Affiliate as a Starter member for Free! And get access to free training on starting and growing an online business as well as many free features and tools (including powerful keyword tool). Plus, you get to create a website hosted on the Wealthy Affiliate server for free.
You Get My Bonus!
When you join the above program, I will be your mentor. I will guide you, help you succeed as an online entrepreneur, and make money.
If you have ANY questions, or anything to clarify, please drop a comment below. I will be happy to help you.
I wish everyone great wealth and success.
Timotheus
Your Online Business Coach
