Bo Sanchez Truly Rich Letter - What Should You Do When The Economy Is This Bad?

Another Bo Sanchez' Truly Rich Letter promoting setting-up a business on the side while keeping your day job.
The goal is to create multiple income streams as passive income!

What Should You Do
When The Economy Is This Bad?
The ballgame of earning money doesn’t change.
In good times or in bad, you still have to create
multiple income streams.
Whether the economy is flying or diving, it’s
still not wise to depend on your job as your only source
of income.
Let me tell you the story of three friends.
Friend #1 was laid-off recently. He got hit by
the crisis in the US.
Friend #2 got laid-off, not because the economy
was bad, but because it was good. His company was
doing so well, a bigger company bought it—and booted
him out.
Finally, Friend #3 lost his job not because of
the economy or because of a merger, but because of a
personal conflict. He lost his job simply because his
boss didn’t like him. He was forced to resign.
You see, it doesn’t matter whether there’s a
recession or not. It doesn’t matter if the stock market is
crashing or rising.
Your goal is to have multiple income streams.
So that you’re not dependent on your job.
I want you to enjoy what I enjoy now. After
years of working on it, I have 16 “tiny” income streams
flowing into my life.
You don’t need 16.
Some of you may just need 2 or 3 or 4.
Perhaps a small Direct Selling business.
Perhaps a rental property. Plus a stock investment
(which I believe is essential—everyone should have it).
How do you begin?
Here’s the secret: As business philosopher Jim
Rohn loves to say, “Keep your day job, and start a
business on the side.”
I just came from the US and Canada. I’ve met
so many people who have 2 jobs. They work 16 hours a
day. Some of them even have a third job—by working
on Saturdays and Sundays.
I always tell them that the better alternative is to
have one job, and then try setting up a small business
on the side.
What businesses are out there that you already
have the skills for?
Next week, I’ll give you some ideas.
But first things first.
Pray today for an additional income stream to
open up for you.
Make it a daily prayer intention.

May your dreams come true,
Bo Sanchez

PS. Are you serious in starting a business? Don’t do
it without getting training. My Business Mentor, Dean
Pax Lapid, will be giving a TrulyRich Entrepreneurship
Workshop on January 14 and 28, 2011. For details,
click here.

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