Page 61 - The Bootstrapper Bible

ChangeThis There are a lot of advantages to the multiple income source strategy. First, having a cash flow is a good feeling. It makes you more stable, more confident, more likely to have a successful business. Second, and just as important, those freelance gigs can easily turn into things that will help your core business. The time to develop a multiple income source strategy is not when you run out of money. Then it will be too late. Letʼs say, for example, you want to develop a career as a stand-up comic. You know it will take many months of hard work before you can expect serious income. Along the way, why not make money doing publicity for some of the clubs? Doing that can generate some money, teach you to deal with the media, and give you access to club owners. No need to charge a lot for your services—even an extra $100 or $200 a week supplementing your budget can make a big difference. Again, the time to develop a multiple income source strategy is not when you run out of money. Then it will be too late. Right now, plan for the money. While Iʼm a huge fan of the multiple income source strategy, thereʼs an important caveat: Donʼt let the sideline take over (unless you want it to). Itʼs so easy to get focused on the short term, on the “now,” that you ignore the reason you started the business in the first place. Suddenly, itʼs five years later and you havenʼt done a stand-up gig for years. Your comedy career died the day you focused all your energy on the sideline instead of the dream. | iss. 6.01 | i | U | X | + | Please donʼt be afraid; PASS THIS ALONG to as many people as you want! h 61/103 f