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21st Century Income Stream Strategy

12 August 2008 No Comment

One of my favorite things to talk about on this site is the idea of pursuing income streams. It is my position that my generation is living and pursuing success in a unique era. Because of this unique environment, the goals we pursue look different and the means in which we pursue them are also different.

For example, when it comes to retirement, I believe my generation should pursue income streams over a retirement ‘number’. When it comes to personal finance, budgeting and saving can only do so much. Furthermore, when it comes to real estate, the rules are different also.

When it comes to income, 20-somethings should not focus on a single, salary-based income. Fortunately, the changing environment that necessitates this unique focus also comes with unique opportunities to achieve multiple income streams. I call this my 21st century income strategy.

A Unique Generation

My generation has grown up with things like computers in every house, the internet, and social media. The widespread adoption of the internet and other technologies has resulted in a business environment with minimal barriers to entry. A 16 year old kid in a garage can develop a killer application and sell it from his own website, charging customers via major credit cards resulting in cash deposited in his paypal account. Basically, with basic skills, a little creativity, and a lot of determination, anyone can make money online.

Your Personal Network

Social media and social networking has resulted in a level of connectedness never achieved before. A large benefit of this in regards to income is that you can spread the word of your business in a matter of hours. Our parents generation had to spend loads of money to get the word out regarding a new product or business. Now, you can incorporate a business online in minutes and have hundreds of visitors to your “storefront” (website) in minutes. Think about how incredible that is.

Take Advantage Of The Tools That Are Available

If you read this blog and are a believer, you agree that multiple income streams should be a huge priority if you desire to build wealth. The fantastic thing is through the tools available to you (namely technology), you can create additional income streams without quitting your job.

One of my other websites that I recently launched targets small businesses to leverage the technology tools available to them to increase sales and make more money. Even if you are an individual trying to create an income stream online, check out the content on SmallBlogging.com if you are interested in learning easy to implement techniques to create an online income stream.

We live in a fascinating time, and it is especially fascinating when it comes to our pursuit of creating income streams.  20-somethings have a distinct advantage when it comes to these new technology tools as we have grown up with technology and the internet as a part of our daily lifestyle.  Put your experience to use and start a new income stream now!

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