In early 2013, my ghost writing work left me in a bit of a lurch. I was working my butt off, not necessarily with the best attitude. But I was working my butt off nonetheless, servicing clients big and small. For whatever reason, when payday came, none of my clients were paying me. Talk about a trying time.
While my receivables issue was relatively short-lived, I learned the most valuable lesson of my life: God is my source. It’s like Tyler Perry said at :27… [paraphrasing] all I can do is plant my seed and water my seed. God has to give the increase. And I have learned to look to Him first for increase. When I am in need, I tell Him. Then I get to work.
Months before I had my own personal Great Recession, I began to suspect it might be a good idea to start generating income from something other than ghost writing. But I decided to do it once I was set with ghost writing. I could take a few weeks off to really do something else. Then BOOM. Ramen Noodle time.
Creating Multiple Streams of Income Isn’t Easy
I made the same mistake a lot of folks make with regard to passive income. I got on my grind to build a residual income empire, then got tired of the labor. We assume passive equates to some level of ease. Creating an income stream that you can take your hands off of is NOT easy. It takes diligence, hard work, persistence and a commitment. Once the work is done, it’s done. But getting any business to the place where it’s making money consistently without having to hover over it 24/7 is a task.
Working Full-Time to Create Passive Income
Sometimes the best-laid plans come to naught. And it sucks to be caught in a situation where you’re spent from toiling and still living in lack. Time waits for no woman. And the truth is, we really don’t know what’s around the next corner – a once in a lifetime opportunity to travel or study abroad, company layoffs, divorce, illness… anything can happen.
Do you hear me? Anything can happen.
We can’t always prevent or even be ready for life’s challenges, but we can work now to minimize the negative impact an unexpected event may have on our households by being smart. Use every tool in your arsenal. Don’t let anything in you rust out and work like you know tomorrow’s coming because it is.
And most importantly, do it now, lady. Don’t wait.