Thursday, May 15, 2014

Here's some radical advice: "Build several streams of income" (How can we get this message to our students?)

Today's advice comes from an entrepreneur.  His message to me is in green below and he quotes from James Altucher (in blue below).   Take a look at James Altucher today:

One of the disciplines is to keep putting videos up on Youtube.

Another method is a BLOG.

Both can be linked to a adsense account.   Set up a bank account, connect that account to a gmail account and and link the blog to that gmail account (with adsense).



Initiative=motivation. That's the thing people don't talk about. When we talk about our schools, it's always about curriculum, testing, teaching strategies, etc. Nobody talks about self-direction... or any kind of direction. Kids don't learn unless they're motivated to learn—either endogenously or exogenously. Helicopter parents hovering over kids with a big stick can and often do get the job done. But where that kind of external motivation is lacking, a kid isn't going to learn unless he/she wants to. Often they don't want to. Endogenous motivation is the key to everything—how to get kids to WANT to organize towards their own futures; it's the sine qua non of educational, and thus middle class, success. 

It has occurred to me that perhaps part of the problem we have in schools is that many kids just don't find a future working 9-5 in cubicles compelling. They don't buy in to the payoff of a 16-year education. After all, they see their parent(s) struggle to make ends meet and bitch every night about their jobs. It's never dawned on kids that (as JC said) they don't have to lead boring lives; they can do whatever they want to do for a living, within their abilities—which are more more substantial than they suspect. Their lives ultimately will be what they make of them. They just need to use their imaginations and then apply themselves to pursue those dreams.

Entrepreneuring is like mountaineering. It's an expedition of the mind. It requires a skill set, stamina, and perseverance. And, well, maybe a bit of luck. But it is transformative. There are few thrills as great as making something and watching people buy it. Talk about positive feedback. Speaking of which, take a look at James Altucher today

And then, last week, he wrote this:

  1. it costs almost nothing to start a business. Find something people want and start posting information about it on a blog and then upsell your services on the blog.Or write 1000 small books about different topics and publish them on Amazon. You can do this on the side while you learn and have a full time job and then when you are ready, you can jump to your other passive streams of income. I have a podcast coming up soon with a guy who makes $25,000 a month doing this.
    Note: It takes a lot of work to find “passive” income but when it happens, it’s worth it.
    These are some ideas. There are many others.
  2. Invest in experiences rather than possessions.Figure out interesting and unique experiences you can have or places you can go to (but they don’t always have to be places).
    Experiences pay much higher dividends than an extra TV or a nicer car.
  3. Books. Reading is the best return on investment. You have to live your entire life in order to know one life.But with reading you can know 1000s of people’s lives for almost no cost. What a great return!

No. Just try to make more money. That is easier than saving money. I find that whenever I try to save money I end up spending more. I don’t know why that is. I’m a horrible spender, which is probably why I’ve gone broke so many times.
Better to just make more with many streams of income so you don’t have to worry about going broke. And then saving will come naturally as you make more money.
Don’t forget that a salary will never make you money. [emphasis mine] After taxes and the daily grind, and your exhaustion and the feelings of “I hate my job”, and then inflation and then new expenses (kids), you will never be able to save. Avoiding Starbucks every day won’t make you a millionaire, that’s a fact.
I say it glibly, “try to make more money”. I know it’s not that easy. But in the long run, if you have a constant focus on alternative ways to make more money, then you will.

He quoted a blog... (above in blue)...  I hope you will read more.
NOTE:  Reading blogs can help.  We can choose the right blogs to fill our heads with ideas ...  and motivate ourselves to move ahead.
Some people will be able to make several streams of income.
I have a friend who is a financial planner, so he runs his own business.  He gathered enough expertise to offer to be a financial planning to family and friend and then others wanted the service.   Then he offered his expertise as a skater.   He gives lessons in the mornings before work.   That's two streams of income.  That's how he makes more money.
His next direction is to train young accountants in his method so that they can open franchises of his business.   His method is to give good service in  a network.   That will be a third source of income.   These are examples of streams of income.
Steve McCrea, blogger, borrower of words.

Please take time to subscribe to the blog mentioned above.

Another tactic that teachers can use is to demonstrate the attempt to make money.   One of my efforts is to build apps.   I found a guy to make the apps for me.

Here are some screen shots from his website

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