Multiple Sources of Income – MSI

We will receive not what we idly wish for but what we justly earn. Our rewards will always be in exact proportion to our service.?? –  Earl Nightingale (1921-1989)

Continuing with my last post, I mentioned I will be sharing with you, a very powerful concept called Multiple Sources or Streams of Income or MSI.

Michael Tay with Robert Allen

Robert Allen, who is one of my mentors, in his book “ Multiple Streams of Income ” has done an excellent work on this subject matter, a book which I encourage you to read if you want to learn more on MSI.

MSI is a concept which has been adopted by almost all very wealthy people.

With Multiple sources of Income or MSI, you increase your ability to earn and create wealth. Most rich and wealthy people have always known about MSI and have chosen the Multiple sources of Income route – MSI to create their wealth. They have money or income flowing to them from various sources. They do and you will too!  Therefore, start your journey to financial success by doing the MSI way.

Most of us just have a P.S.I. – Primary Source of Income, which usually, this is our JOB. This is the only source of income from our salary from our job or income earned from our business or profession. It is our active income. This income is what we get paid for our time or services rendered because of our expertise. It is active income, because you have to work. Just imagine, if you are ill or incapacitated and you cannot go to work, or worst still if you are made redundant from your job, then what happens to your active income ? Your money or income immediately stop flowing to you.

It is just like sitting on a chair with just one leg to support you. Would you feel safe and secured? No. you would feel very uncomfortable trying to balance yourself  because you do not have firm support. This is just like you having one primary source of income to support you and your family. Not a nice feeling to have!

Now let’s add three more legs to your chair. Now you truly have a firm and secured chair to sit on and you would feel very comfortable, right? This is the analogy for having multiple sources of income in addition to your primary source of income.

Besides having an active income, you should look at other ways of earning residual income.  Having MSI will permit you to multiply your present income by providing service beyond that which you are presently providing at your primary source of income.

It is having income from Multiple Sources. It is not another job, It is not a better job. It is not even a job. The additional sources of income could be book royalties, agency business, internet marketing, network marketing business, real estate investments, rental income, dividend income and so forth.

So how do we create our MSI. Find business that will provide you with leverage income. Business that does not have any glass ceilings to your earning capacity, where there is no limit as to the amount that you can earn. You put in the effort and you get the results financially. “As you sow, so shall you reap.”

You must grow yourself like a container. There is a saying “ Your income will grow to the extend that you do”. So to earn the big income, you need to grow yourself like a big container, so that the universe will bring more money to fill the big container.

Therefore, to work on your MSI, you will need the mindset, the knowledge and the skills to be successful in the area you want to create the additional source of income. Just thinking about it will do you no good. Increasing your ability to earn and creating wealth the MSI way is a relatively easy process if you understand how to do and you learn from people who are doing it themselves.

You must act on it, find people who are already successful in that area and learn and model them. Focus on one MSI until you are really successful in that area and then build the next MSI. In this way, you have learn and master the 7 cure for a Lean purse which is to increase your ability to earn through the MSI way.

To your success in creating wealth the MSI way.

I hope you enjoy the sharing 

By Michael Tay   www.michaeltay.com

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