Let me tell you how
It sounds bizarre, I know, but allow me to reveal my thought process.
The society in which we live has changed the notion that a breadwinner should have one form of STEADY income. Usually, the whole family will be cared for by this income.
Modern needs dictate that having multiple streams of income is the best way to go if one wants to survive in the modern and future worlds. However, this is easier said than done, or so we think.
We’ve been trained to design feasible business plans and they have to be these big innovative ideas that will change the world, but what if that is not the only way. What if we as a generation consider the idea of Stairway Growth?
What is Stairway Growth?
Well it is a concept I’m quite sure you are already aware of – I just gave it a different name. It is the building of small companies that act as a foundation for the main dream. Stairway growth implies that an individual should build small means of income, then using the income from the initial venture to build bigger income sources, then repeating the process.
The initial income can be from selling products such as Avon, Tupperware, Herbalife or even doing odd jobs such as online blogging, gardening and washing a neighbours car every week. The first step is basically anything that can bring you a small but meaningful source of income.
How do you create Stairway Growth?
The key is to decide on a method of income that will require little to no start-up capital. This is to ensure that you are building on top of the capital you already have from your job, or if you are unemployed, it ensures that you start having a source of income, no matter how small.
The income is then placed aside into a savings pocket to build a secondary company that will ensure a slightly higher stream of income. Examples of secondaries companies include a small tuck shop, back yard beauty salon or even just buying your own lawn mower and securing a contract with your neighbour. This phase allows you to increase your savings pocket and still allows you the privilege to continue with your foundation business from the first step of Stairway Growth.
Depending on the what your final dream is, you keep repeating the process of creating incrementally bigger and more profitable businesses. For example, you can build a gardening company from the money you saved mowing your neighbour’s garden, and because you continued washing cars, you could also be running a car wash.
It’s not easy
It is vital to note that without self-discipline this method will definitely fail. Remember that the title of this piece is “poverty will bring you riches”, that essentially means that although you will be making money, do not use it recklessly!!!
Save the money, make wise investments; build other small business, because the final aim is to accumulate enough capital to build your dream company. Don’t get pulled away by society’s expectations: don’t buy that car if you don’t need it, don’t buy the labels just to show off or to “feel yourself.” Spoil yourself, but be responsible.
“The first law of nature is self-preservation. Cut off that which may harm you. But if it is worth preserving, and is meaningful, nourish it and have no regrets. Ultimately, this is true living and love of self…from within.” – T.F. Hodge, From Within I Rise
Life is about the battle of fittest! Only those who are willing to take risks and think beyond the boundaries will survive. So take risks, manage 10 small businesses if you must, build a need and feed the demand. Never let anyone tell you that having no money means you can’t be successful. YOU are your best investment.
This article was written by Lerato Maela.
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