Earning Extra Income Working From Home

Gone are the old days when a family could survive upon a single income. Today the inflation and economic factors are such that survival on two incomes has become hand to mouth. Going by this trend we can very well imagine what the future holds for us. Two incomes certainly will not be enough.

It’s best to prepare for the worst and expect the best instead of vice versa. Its best then to have multiple incomes flows into your finances than to have an insecure future. The concept and importance of extra income becomes all the more apparent. People who have been well-to-do have always known and taken care of this.

If one income dries up, one can always fall back upon the other streams of income, and if all go well you can only get richer, no harm in that. Ordinary and average living people have always been in a dilemma regarding this.

Loss of one income really affects them adversely and it would take years of hard work before any normalcy returns. Not to mention, the rippling effects of financial distress that could cause a lot of heartburn and unwanted emotional disturbances. Having diverse sources of income or extra income gives you a backup to fall back upon. If one source vanishes, you should not feel the difference.

One should have enough time to reorganize and regroup, that’s it, and you are back on the happiness highway, safe and sound. The importance of extra income and extra sources of incomes is not lost on anyone today, therefore the want and rush.

Extra Income can be of two kinds – Linear and Residual.

Linear income is the extra income you earn on an hourly, daily, weekly or monthly basis. There is no more future commitment attached to it from your end or form the receiver’s end. Residual income is an extra income where you work hard once and reap the fruits of it all for many years in the future. The reward for the same effort paid over and over again.

In normal course of a career, any individual earns a linear income through a job or a profession. You are earning only for the time you can spare on work on a daily basis. Some earn a higher linear income. 

Most smart people try to shift to residual incomes from their linear incomes through extra income routes to have a secure retirement and future. Starting with one residual extra income effort a year would be a good idea.

Internet gives a lot of options in the extra income route. One has to be careful in selecting the right one from them by recognizing the hype form the straight talking ones.

Almost all these programmes have residual income components in them. Select one and give it everything you can, when you can earn the residual from it, time to start off with the next one.

Extra Income working from home

Every entrepreneur, to achieve any amount of success should be motivated.

Motivation comes from passion. Every book published or e-book that deals in money making and motivation screams passion – the most important ingredient in any successful entrepreneur.

Similarly, when you think about going after that extra income, you have to create a burning passion to do so. It will keep your fire glowing for a long time, at least till the first results become apparent. After that passion at a particular level keeps in rotation, after all money is the biggest motivator.

An entrepreneur embarking upon the route of home office and extra income should strongly believe in himself and his capabilities. He/ She should be thick skinned not to be perturbed or affected in any way by others comments and opinions. People are just plain jealous.

Clear conscience and belief in oneself does not seek external approval. Evidence enough that, once you are successful and start earning extra income, the negative opinions and nasty comments turn into praise.

One should have the ability and courage to make independent decisions and abide by them. This would be your most valuable asset yet.

Online businesses are basically scams – popular opinion of people around you in any part of the world. Your online business needs your approval heart and soul; otherwise success will keep eluding you and so will the extra income you planned from it.

 If  Thomas Edison did not believe, that electricity can be harnessed to light up human life; we would still be living in the dark ages, wouldn’t we?

Being flexible with working hours, being energetic, planning wisely, focusing on short-term objectives and stress control are hallmarks of a successful home business owner. If you think you lack in any of them, practice till you make these attributes a part of your involuntary senses.

Discipline to start is very important but to know where to stop is more important. Do not overwork or stress up yourself to the point of not stopping. It will only burn out your imagination and render you useless for some time to come.

 Making short time extra income, you will lose out on the next few dollars (ex: Burning out today may earn you $1000 today, but by not working for the next 3 days you will lose $500X3 =  $1500). Work the number of hours as per the plan you carefully laid out.

Building your business is more important than earning money out of it. As your business sustains and grows, the money you earn from it automatically grows. Treat the home business as your hobby and keep abreast of it through updated information.

Knowledge earned does not cost a cent here but will help in decision making in all spheres of independent life. Last but not the least, fear of failure and not failure itself leads to most failures. Keep trying, look at failure as a part of learning and appreciate your benefit of knowledge from it.

Learn from your mistakes, a lesson we have learnt in primary school.

All the best for your online success.