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Company of One with Dale Callahan
You’re a high-achieving professional—maybe in tech, engineering, or leadership—but your career feels stalled. You’re paid well, but it’s not enough. You want more: more purpose, more income, more control over your life.Company of One is a podcast for professionals who want to grow their income, make strategic career moves, or even build something on the side. Hosted by Dr. Dale Callahan—engineer, entrepreneur, and director of a top-ranked graduate program—this show gives you real strategies to take ownership of your future.Whether you’re climbing the ladder or considering stepping off it to build your own thing, this is your place to get unstuck and take action.
Company of One with Dale Callahan
192: Multiple Streams of Income [Podcast]
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Dale Callahan
Want multiple streams of income? How would it feel not to be 100% dependent on just your day job income? Today we want to dive into streams of income that others use to smooth out the edges as things get rough - and in 2020, everybody needs multiple streams of income!Develop Your Multiple Streams of Income (MSI)Here are some of the more popular categories others use for diversification of their income. Your Day Job - Never forget to focus on this income source. Providing service through a third party - Pizza delivery, shopper, Uber driver, Amazon driver, UPS, or another delivery driver. Pros - They do the marketing. Cons - You have little control over what you do. Consulting/coaching service - Fiverr, Upwork, etc. - This is the easiest thing to do where you have a little control over what you offer. Pros - It is easy to get started. Cons - Takes your time to deliver the service. Home services - From yard work, small repairs, pressure washing, cooking, cleaning, closet organizing - something for everyone here. Pros - We all have something to offer. Cons - You have to work on location. Creating Intellectual Property - Udemy, teaching, writing books, etc. Pros - Recurring income and some platforms help you market. Cons - Can feel daunting to start. No money flows until you are complete. Real Estate Rentals - Cost more to get started and can be a long haul to start to win. Pros - Can be almost passive. Cons - The higher cost to get started. Buying a Business Pros - Can generate much higher returns than others. Cons - Takes time to work a deal and can turn into a lot of cash.My MSI Stocks - The biggest win for growth. Little maintenance, significant growth. Not something that many start with. E-Commerce - The most money and the easiest to ramp up or down as I need Real estate - This is steady money. Houses paid off. Good renters. Maintenance a constant issue but comes and goes. Online courses - Steady income with almost no maintenance activity. Books - Money goes up and down at times, but again little maintenance activity. Affiliates - These are products from other companies I sell and they ship. Amazon is one. Others are companies that have products which complement my own products. Coaching/Consulting - Professional startup and career coaching and business consulting, mostly involving organizational and process improvement. I have never focused heavily on developing this path - but the work is enjoyable.Click here to listen now.Subscribe & Review in iTunesAre you subscribed to my Company of One? If you’re not, I encourage you to do that today so you don’t miss an episode. Click here to subscribe in iTunes!If you like what you hear, I would be really grateful if you left me a review over on iTunes, too. Those reviews help other people find my podcast. I also love reading them and connecting with you. Just click here to review, select “Ratings and Reviews” and “Write a Review” and let me know what your favorite part of the podcast is. Thank you!Links mentioned in this episode: Fiverr Upwork Udemy