- Report this article
John Ntende
John Ntende
Manager Corporate Planning at Electricity Regulatory Authority
Published Feb 7, 2024
+ Follow
"Sow your seed in the morning, and at evening let your hands not be idle, for you do not know which will succeed, whether this or that, or whether both will do equally well." - Ecclesiastes 11:6 NIV
This morning I received a mobile money message showing a deposit of cash into my account from someone. This was a welcome relief given that I was feeling a bit broke after paying hefty school fees for my daughters. I did a quick happy dance in my office and if anyone saw me they would think I was losing it. At that moment I was grateful that I was receiving money from a source other than my salary. This has not always been the case. There was a time in my career when I relied solely on my salary for survival. Needless to say, any delays in the payment of salaries would raise my blood pressure!
This payment was for some consulting work I had done for a long-time friend. He reached out and needed some financial advice on a large transaction. So I did the work, billed, and got paid. I did this work over the weekends and after working hours. What essentially happened is that I leveraged my knowledge, skills, and experience to serve someone else outside of official working hours.
This path to earning additional income is open to all career people. However, it requires a mindset change. First, you have to believe that you can earn money from many sources. This is not obvious! We have been conditioned by society to believe that money only comes from a job. This is not true. Money comes from many sources and it is possible to earn multiple streams of income.
Second, you have to see yourself and your career as a business. If you are employed it means your employer is your biggest and most important client. So you give them your best. However, a good business doesn't survive on one customer. You need other customers even though they are much smaller than your employer. Viewed this way, your career takes on a new direction and you begin figuring out ways to acquire more clients.
Recommended by LinkedIn
Third is your develop a product or service. In other words, you package your knowledge, skills, and experiences into something that you can sell to other people. So in my case, I am using The Money Engineer as a vehicle through which I showcase my service offering to prospective clients. Finally, you actually deliver a quality service in a timely manner to your clients.
Developing multiple streams is possible for everyone. This point was impressed upon me in a book called "You Were Born Rich" by Bob Proctor. The path to building multiple income starts by focusing on one stream first which is typically your job. You then work hard on your job, earn above-average incomes and maintain a simple lifestyle. You then take the savings from this job and buy assets that generate additional income. For instance, I have bought shares in MTN and Airtel and I earn a dividend every quarter. I have unit trust savings and I am paid interest every day. I have invested in government bonds and I am paid interest every six months. I own a consulting business and my clients pay me whenever I deliver a service. I have published a book and earn some little money whenever I sell a book and other financial literacy kits. I also own a condiment manufacturing business and earn some profits every year. I also have savings with NSSF and other Provident Funds which pay me passive income every year. I also belong to a couple of SACCOs and I am paid dividends occasionally. I do some farming and get some cash from selling agricultural produce. So I am earning all this cash while still fully employed!
Having multiple streams of income reduces financial stress and anxiety. You no longer go to work out of fear of being fired. You go to work because you actually believe you are making a difference to your organization and your country. Having multiple income streams elevates you above the strife for survival which plagues the majority of people. At this level, you aspire for bigger things and are more concerned about making a difference in society and living the best life you can.
So I hope I have made the case to acquire multiple streams of income. This is one of the most life-changing things you can pursue and it will totally transform your life.
Like
Celebrate
Support
Love
Insightful
Funny
11
3 Comments
Thobile Khumalo
Independent Contractor (W1001466673)
5mo
- Report this comment
Thank you very much for sharing 😊
1Reaction
Flavinho Alves
Proprietário da empresa na Google
7mo
- Report this comment
CALL FOR FUTURE MILLIONAIRES WHO WON'T MISS THIS UNIQUE OPPORTUNITY AND WITH ONLY 80 VACANCIES OPEN, WHOEVER ARRIVES FIRST WILL DRINK CLEAN WATER.HOW IMAN GADZHI MADE MILLIONS WITH AN AGENCY? BUT WE KNOW WE TEACH EVERYTHING WITHIN THIS METHOD AND YOU STILL GET A READY AGENCY WITH COMPLETE STRUCTURE LIKE IMAN GADZHI'S IF NOT BETTER, TAKE ADVANTAGE OF THE FEBRUARY PROMOTION!WORK FOR YOU IN 2024, YOU ALREADY HAVE THE AGENCY HERE AND SUPPORT IT TOO.https://pay.kiwify.com.br/Z7ap61T
1Reaction
Moses Kasakya
President IIA Uganda | Certified Coach & Trainer| Helps Communities Identify Opportunities, Manage Risks, Transform & Grow.
7mo
- Report this comment
Thank you John for sharing
1Reaction
See more comments
To view or add a comment, sign in
More articles by this author
No more previous content
- Why You Should Own a Business Sep 16, 2024
- Don't be average! Sep 11, 2024
- Will you have enough money in retirement? Sep 9, 2024
- Investment Options in Uganda Sep 6, 2024
- From Passion to Profession: Why Every Professional Should Start a Personal Blog Sep 5, 2024
- Uncovering Your Life’s Purpose: The Difference Between a Job and Your True Work Sep 3, 2024
- The journey of life Sep 2, 2024
- Performing on the wrong stage Aug 30, 2024
- Don't be discouraged by bad outcomes Aug 28, 2024
- Become a unique contributor Aug 26, 2024
No more next content
Sign in
Stay updated on your professional world
Sign in
By clicking Continue to join or sign in, you agree to LinkedIn’s User Agreement, Privacy Policy, and Cookie Policy.
New to LinkedIn? Join now
Insights from the community
- Career Counseling What do you do if your personal finances are hindering your future career goals?
- Career Management Here's how you can navigate the financial consequences of changing careers.
- Business Management How can you financially prepare for potential job market downturns?
- Career Counseling Here's how you can navigate the financial implications of a career change.
- Manufacturing You’re considering self-employment. How can you ensure it will be financially beneficial?
- Motivational Interviewing What do you do if your income as a self-employed professional is inconsistent?
- Career Development How can you overcome financial barriers to career development?
- Partnerships What do you do if you need to rebuild your financial stability after a layoff?
Others also viewed
- Don't Work For Money Bryan Long 9y
- Are your finances a train-wreck waiting to happen? Chris Allen 7y
- Multiple Sources Of Income | What You Need To Know Sigurd Vedal 4y
- Lost your Job? This is How You Can Manage Priyanka Bhowmick 7y
- How Earning A Residual Income Allowed Me To Travel The World! Ann Marot 7y
- Why you worry about your income and how to get past this Alex Papworth 2y
- Linear vs. Residual Income: 4 Ways To Produce Income Andrew Coleman 8y
- Your Life is a Commission! Grant Cardone 6y
- Why You Need Multiple Incomes Lee Broders 2y
- Top 6 Benefits of Having Multiple Sources of Income this 2023 Gladys Marie Cuapiaco Malicsi, CIS, Agency Leader, Entrepreneur 1y
Explore topics
- Sales
- Marketing
- IT Services
- Business Administration
- HR Management
- Engineering
- Soft Skills
- See All