If you’ve been following our blogs, you may have read our recent article about Getting Started on Your Own Second Stream of Income.
We mentioned in that article the value of time in this area and how starting up your second stream of income may cost you a lot of it.
You will be forced to make and sacrifice time for the benefit of your second source of cash flow. And because time is such a big deal when it comes to landing a second stream of income, we thought it deserved an entire article all to itself.
Read on, we hope that this article will help you with your endeavor for achieving multiple streams of income:
Write Down Your Daily Schedule
“Writing things down makes your mind more efficient by helping you focus on the truly important stuff” Mark Murphy, a New York Best Selling author, said in a 2018 article published by Forbes.
Writing down your schedule on a piece of paper gives you a visible and tangible picture of how your new routine will look.
This will also allow you to see, looking forward, which activities consume the most time and which ones are worth sacrificing for your new job.
Determine The Number Of Work Hours
It’s important to determine, based on your second stream of income, how many hours you will need to spend on it.
For instance, some type of work may really require you a whole 8 hours of work while others won’t necessarily require that long.
Determining the required work hours will help us know whether including your newfound work into your daily schedule is attainable.
“If you’re working with long-term goals, use the ABC’s to schedule [them]. A is for [it] has to be done today, B is for [it] would be nice and C is for if I were my most awesome version of myself. Update the goals before bed so you wake up ready to roll the next day,” says Lloyd from Bustle.com.
Cross Out Activities You’re Willing to Sacrifice
If your second job requires you to work more hours than you had hoped, you may need to sacrifice a few of your usual leisurely activities to make room for work.
Note that you don’t necessarily have to eliminate completely a certain activity off your routine, just lessening the time used is efficient enough.
One thing to look forward to as you scrape off unnecessary time is that in the long run, if you work hard enough, your streams may just turn into passive income, giving you the time scraped off back.
Choose Your Off-Limits Activities
Alright, so there are some activities you really can’t let go of. So, choose the activities that are off-limits to you.
Some activities that may be hard to let go of could be some of your hobbies and passions, and it’s perfectly understandable that you don’t scratch these out.
These are the hobbies that fuel your desire to keep working. Studies show that a large percentage of people lose interest in their work if it interferes with their own personal hobbies.
Other than your hobbies, it is important that you allow time for rest and family as well.
It will be difficult for you to keep up with dues and your own deadlines if your mind, body, and soul haven’t had that well-needed rest and time with the family.
Commit and Stay Consistent
“We are what we repeatedly do. Excellence then is not an act, but a habit.” – Aristotle
Really committing to your new schedule will require self-discipline. Success, after all, is built from consistency.
Tony Fahkry said in an article on Medium that, “Consistency builds character and sharpens the mind. Consistent people are triumphant, with an unyielding inner drive.”
According to Tony Fahkry, consistency and persistency are the two key ingredients to success, staying true to your word and sticking with your regimen will evidently produce progress.
Get Side-Tracked Once In A While
“You may encounter many defeats, but you must not be defeated. In fact, it may be necessary to encounter the defeats, so you can know who you are, what you can rise from, how you can still come out of it.” – Maya Angelou
People will always tell you that it’s okay to get side-tracked, and they’re absolutely right.
Setbacks are bound to arise but your journey to success shouldn’t end there. Setbacks are there to help you learn and grow, they aren’t there to keep you down.
You will find yourself recommitting to your new schedule again and again, more often than not. Do not let this discourage you but rather see it as an opportunity to be persistent and a sign of progress.
Use Our Platform As a Stream of Income
My Garage Rentals can be a great addition to your streams of income and it won’t even require much of your time!
Scan your household for things that you believe could be rented by others and have them rented out yourself.
Think of us as your own personal rental store. My Garage Rentals can be a stream of passive income. Just rent your item out and wait for the cash to come flowing in.
And because it’s so simple and easy, you wouldn’t have to worry about sacrificing your schedule or any of your valuable leisurely time to make way for this.