The road to success is much more straightforward than most people think. Developing a single money making skill will propel you to greater success. To reach financial freedom, you don’t need to be a jack-of-all-trades. Focusing on one thing and becoming the best you can be at it until you reach mastery will ensure you make your money doing that one thing. Focusing your attention on several different skills will keep you from mastering any of them. Keeping it simple and becoming the best you can at one thing will make you financially free and is the best decision you can make for yourself.
The trap of “multiple streams of income”
Today’s generational buzz phrase is “multiple streams of income”. While this is a great goal to have and something that we should all strive for, developing a skill to create one stream of income is where it becomes much easier to hit the ground running. It is best to master one thing rather than try to tackle everything and be a master at nothing. So many people have their attention drawn to so many different places that many things that get started are left unfinished. When I first started my journey towards financial freedom, my attention was all over the place. From business idea to business idea, I was never able to focus all of my attention, energy, and effort on one money making skill. Now, I have my skill that I am mastering, real estate investing, and I have leveraged almost everything else. This approach will allow me to build, grow, and master real estate investing to provide me financial freedom. At that point, I will be able to turn my attention to other money making skills and opportunities to build my “multiple streams of income”. It all starts with one skill and then branches out from there.
Overcoming hardships to achieve mastery
Hardship is inevitable when trying to master a money making skill. You will run into roadblocks and question from time to time if what you’re doing is really worthwhile. In my experience and in many other people’s experiences in these types of situations, they may even think of abandoning the skill altogether and starting something new. The reality of the situation is that no one wants to hear that every path you take is hard. There are no shortcuts and no easy ways out. Starting over will set you back. It may reinvigorate your excitement at first, but inevitably you will run out of steam and back into the same type of roadblocks. Although it is a difficult thing to do, the only viable solution is to overcome these roadblocks and reach mastery no matter how hard it gets. If you are on a path that has been proven to bear fruit for other people before you, you are on the right track to becoming successful. Just as those who have already realized their success had to get over the hump so to speak, so do you in your own unique way. No one’s path is the same even though the goal and end result may be. In order to achieve mastery and overcome the later roadblocks you will face, it is key to learn from those who have experienced what you are going through before you. Make connections with those who have realized more success and take from their experience and apply it to your dilemma. The last thing you should do is give up, blame the skill or the financial vehicle for it not working out, and move on to the next idea expecting an easier road to success. You will be disappointed time and time again.
Branching into multiple streams of income
Once mastery is achieved in your one money making skills and financial freedom is reached, multiple streams of income can and should become a priority for you. Diversify your income sources. Use your financial freedom to leverage other sources of income. Being a master at one money making skill will allow you to leverage that success into other money making avenues. Focus on one thing and become the best you can be at it. Then, leverage that success to take advantage of other opportunities ideally in a more passive way. Having money will allow you to shortcut a lot of the headache of what made the first money making skill so difficult. You’ll be able to leverage money to recruit talent and produce results efficiently. That is a topic for another time, however, it ties right into this blog’s subject matter in this way. Master one thing and you will gain the ability to accomplish anything.