Food for thought - page 8. | Bitcointalksearch.org

DrBeer

legendary

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Quote from: Barikui1 on December 15, 2023, 03:43:03 AM

For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.

We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.

In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.

I would add - wherever you work - always create an alternative income option. From your personal business, to investments ! Always keep in mind that there are a lot of risks, with a probability higher than 0, that you will be left without your current job. It can be anything - problems in business, global changes, corruption, natural disasters. And having no alternative source of income, you may wake up one fine morning and realize that now you have NO income, if you have not prepared a "reserve airfield" in advance. And it will be very painful to realize.... ALWAYS create at least 1 spare income channel, MINIMUM 1 spare, but more is better

criptoevangelista

sr. member

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I've been thinking about this for the last few years.

Having a formal job and a single source of income is something that I have to adjust in my life. I've thought countless times about opening my own business, but the question is: what to do? exactly which line of business to go? Sometimes I think a lot about finding a partner, because alone it's very complicated.

Majestic-milf

hero member

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Quote from: Barikui1 on December 15, 2023, 03:43:03 AM

For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.

We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.

It's necessary to have another source of income if you are working for someone so it can help you prepare for the rainy day but also understand this op, that it's not everyone that's capable of managing their own businesses. There's so many factors to consider when doing that and these are just a few to outline.
- financial risk; There's a lot of risks involved in managing your business as you'd need to have a substantial amount before you can start and if eventually things don't go as planned, you run into loss and end up not getting any substantial income.
Secondly, the stress of doing two things at a time can really tell on you eventually as to start a business, you ought to know that you are the business which means you have to balance your time working for someone else and working for yourself. The rewards of owning your own business is there but many people will prefer having the knowledge they can get from their present place of work, then resigning or retiring to go start theirs than juggling two jobs at a time. Except, the 9-5 job isn't as stressful.
Your advice is well meaning but at the same time you have to consider that everyone operates differently.

benalexis12

full member

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First of all, being an employee is not bad, so let's not downgrade employees too much. Do you think that if everyone in the world became an entrepreneur, would your business or company still have a way to make money? I mean, if you don't have manpower or employees, can you do it alone?

Yes, it is true that it is not enough to have only one source of income these days if you are not a rich person. But there are many opportunities that can be added besides being an employee. As long as we have time and can manage it properly. But I don't believe that when you only have one job, it is equivalent to suicidal. In this matter, you are wrong.

bitzizzix

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Ready or not, we must be ready to accept it if that is our destiny.
And it's best before that happens and while we are still working, we have to prepare ourselves in advance if that happens, by saving or investing. And if the salary is only enough to meet our needs, we also have to think about this when we are still working to find a side job or additional income so that we can save or invest according to our abilities.
And with all that, you will not experience difficulties and destruction when you are fired from your job, and that way you can open a business or anything from your savings or investments and you can also continue doing your side job. Because in the current economic conditions we are required to be smart in living a life that does not only rely on one source of income, because we never know what will happen in the future. So preparing an umbrella before it rains is very important, you have to think and plan in advance while you are still working, otherwise you will suffer.
And for this problem there is no need to question or ask other people or anyone else, because they will not care and living independently is much happier and more enjoyable.

Husires

legendary

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Relying on one source of income has become difficult, but many do not have the option to have a side business, such as starting a small business and growing it gradually, either because there is not enough money, or there is no space, or there is no time and experience, or problems in marketing and reaching customers, so it is better to try. You should start investing early and at a young age, and when you reach the age of thirty, then you will think about starting a family, and then you will have surplus money and experiences.

Barikui1

sr. member

Activity: 266

Merit: 205

For those working for government or an entity, try to start a small business and grow it gradually while still doing your 9am- 5pm job.

We might not feel the importance of it until we have been lay off from the job.
I have a question for those working for an entity or government, if you are being sacked today, what will be your faith? Will you still be financially strong, can your other sources of income keeps you going or you will be devastated by the loss of your job.

In this current economy, it's suicidal to have only one source of income.
If you must live well you must be ready to grab the bull by his horn am make life changing decisions by having more than one source of income.
Don't put your financial destiny in the hands of your bosses, you might not know the importance of having your own business till you have been sacked. think about it.

Topic: Food for thought - page 8. (Read 954 times)