INCOME STREAMS: TWO MIGHT NOT BE ENOUGH

So for the last 2-3months, I have been trying to balance my online and offline hustle to maximize my income. However, my experience has been quite polarizing. So in this post, I will share some of my knowledge and give out tips on how to increase your income stream.

For those of you who do not know, I am a part-time driver and content creator. I enjoy both jobs as they give me the freedom to choose my working hours. Plus, as a sole proprietor, I report to myself, so I do not have to deal with any office bureaucracy.

However, these two jobs are quite polarizing in the sense that one requires creativity and the other physical strength and endurance. It has been difficult doing both effectively. Starting my rideshare business meant reducing my online time, so I had little time to create.

Secondly, unlike creating content that requires creativity and a decent internet connection, running a rideshare business is a lot more demanding. This is one of the reasons I have decided to cut down my working hours.

The truth is you can’t do two things very well simultaneously. This is true for many people. It requires a great deal of commitment and focus for a prolonged period of time. With this knowledge, there are a lot of things I would do differently if I were to pick another side hustle.

If you are looking at increasing your income stream, it is best to pick jobs within the same field. For instance, Last year I got a job as a content creator in a firm. I was able to carry out my daily tasks with ease because both jobs were similar. Now, I was drawn between two different things that require a lot from me physically and mentally.

Also, if you must have multiple income streams, you should ensure that they are passive, meaning, these income streams require less of your time. They might not bring in much but in the long run, passive income streams accumulate. You can focus on that one thing you enjoy and make it scale, whereas trying to do so much with limited time results in a general poor output and fatigue (mental and physical).

In conclusion, your income should not be solely dependent on your input (in the long run). Aside from the mental and physical fatigue that comes with working for money, it is not sustainable (in the long run) because your human capital depreciates over time. Also, it takes the joy out of the job. Contrary to popular opinion a job is something that adds value to you and other people. When it becomes all about money, it takes a different twist which isn’t wholesome. Becoming financial free shouldn’t be an onerous task of making difficult sacrifices at one’s expense, at least not in the long run.

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