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Everyone knows that the riskiest financial strategy is to have all of your money in one stock. Yet for most working people, they have all of their income dependent on one company.

Think about it. If you lose your income, almost everything else in your life will be affected. Why then should you entrust your financial security to one company or one career.

In this new employment market, you need a career that includes diversified sources of income along with one that includes a residual income component. Consider these options:

  • An eBay business where you can sell an on-line product that adds extra part-time income.
  • A part-time job where you teach a night class.
  • Work weekends doing a job that offers a secondary cash flow that can teach you new skills.
  • Write a book where you can earn residual income – you do the work once but keep earning money over time.
  • Set up affiliate marketing links on a Blog to earn referral income automatically.


Now more than ever, the Internet offers most of these options for little, if any investment, other than your time.

Think of your career as an income portfolio instead of tasks that you do.
Track the results you get for your effort and focus on what earns you the best return for your time.

1. Focus on Cash Flow – Careers today are moving away from the traditional 40-hour work week to more self-directed opportunities for generating income. The jobs of the future are becoming project based and tied to multiple employers who need your services periodically.

2. Know Your Rate of Return – There are often different ways to achieve the same career goal. Some ways may take less time but produce the same result. Calculate your rate/hour and try to maximize what you earn for what you do. If your earn 100K but have to work 70 hours per week you’re only earning $27.47 / hour. Use your time more effectively and you could work less and earn more per hour.

3. Manage Risk  Find a mix of income opportunities that align with your talents to minimize risk and the stress of trying to start something outside your area of expertise.  Think of ways your income sources can complement each other.

4. Invest in Yourself – For most people, training stops when they graduate from school. Invest in yourself by setting aside time and money to use for continuing education to stay current in your field and learn new things that may make you more valuable.

5. You Can’t Manage It if You Can’t Measure It – Many people actively manage how they choose their career and a company, but passively manage how they will develop their career. Too often they wait for a layoff or job dissatisfaction to motivate them to start a new career track. Periodically evaluate what results you are getting tied to what you are doing. Set up a simple spreadsheet and “know your numbers”. Then decide how you can improve your results.

A money market investment typically protects investment principal while providing a modest return.

Think of your career development like a money market. It’s careful balancing of investment risk to reward where time is your investment and multiple income streams are your reward.