| Multiple Streams of Income - Now a Defensive Strategy |
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A few years ago, having multiple streams of income was a wealth-generating, early retirement-focused, offensive strategy. Leading thinking about money has evolved from our roots in one source of income to dual income families to, with the growth and opportunity provided by the Internet, an endless array of income potentials. How many of us have sat around thinking, or saying to our friends, "Man, if I could only think of a good internet business, I'd be a millionaire!"? But with the onslaught of the recent recession, multiple streams of income may become one of the effective defensive strategies against the possible meltdown of our financial and business infrastructure. It may become an imperative that we all need to grasp.
In his book Multiple Streams of Income, Robert Allen presents some interesting concepts around leveraging your core skills. In other words, why limit the returns for what you're really good at to just one stream of income? Why not do just a little bit more and multiply the return on your expertise? With the technologies available today, we can establish ourselves in ways we never imagined in the past.
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| Strategic Living
10% Vision, 90% Alignment |
Greetings!
"DIRECTION, NOT INTENTION, DETERMINES DESTINATION"
In his recent book, The Principle of the Path, author Andy Stanley discusses this powerful concept - that the path we choose to take leads us to where we go...not wishful thinking, dreaming, hoping, or even just praying. The decisions we make, and act on, lead us down a path. We are not where we are by accident!
Interestingly, the author also states, "if you can see a path in the rearview mirror that reflects where you've been and explains where you are, then there must be a path ahead of you as well."
Now, more than ever, we need to find the right path ahead. Because with this recession, we are all experiencing the inevitable outcomes of our past decisions but at a hyper-rate, rather than having things play out slowly over time allowing us to adjust or compensate. Albeit painful, it has taught us a lesson: don't get caught out of position again!
I developed this newsletter because I'm passionate about helping organizations and individuals a.) Understand their strengths b.) Have a vision and plan that maximizes their potential and c.) Align their resources in such a way that they actually walk in their vision.
I hope you find this to be a helpful resource for your journey! |
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Gaining Perspective Part 3 - Taking Inventory
 In past issues of this newsletter (see Archives section for links) we looked at two key elements of having an accurate perspective of your life (or the life of your organization); namely, identifying where you are today and understanding how you got here. Now, let's look at the final element of having a complete perspective: understanding your strengths. One of my great teachers, Tom Paterson, said "It's out of your strengths that you will make your contribution." Taking a strengths inventory is assessing what you are really good at - what is your "sweet spot".
Most people and organizations really don't know much about their strengths. Most of our time is spent operating in, worrying about or trying to improve our weaknesses. However, knowing our strengths is one of the key principles behind having purpose, meaning, value and fulfillment in life. When we operate in the things we LOVE to do and are GOOD at, then we are living a strategic life!
Interestingly, many of us measure our lives based on our current satisfaction with our jobs or ministries. As we discussed in the last issue (see Job Fit under the Archives section), satisfaction with our jobs or ministries has a lot to do with how well they fit us. According to Randy Austad of Follow Your Calling, "job fit (having the ability, personality and motivation to perform a job long term with excellence) is the single most important factor in job success. Yet, many job-seekers overlook the value of job fit when choosing a career. A large percentage of people feel that they are in the wrong job." But how do you find the right job for you?
Read More and Take a Strengths Assessment |
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An Analytical Approach to Decision-Making
If it is true that your direction leads to your destination, then there's obviously a lot riding on the decisions we make that take us in a direction. This article discusses the decision-making process, and gives you a tool to help you base your decisions on facts and data rather than emotion, whims, or poor advice.
There are many decision-making processes in use today. Some use a consensus approach: one where everyone agrees on the decision. Others use a majority-rules approach: people vote and the majority wins. There is also the autocratic model: the person in charge says what the decision is and then everyone obeys. All of these models have their own pros and cons based on the situation at hand.
In my consulting business I help organizations evaluate and purchase large capital expenditures, such as software for example. To make decisions of such magnitude, data needs to be gathered, evaluated and scored to determine what the best solution will be for the overall organization. Similarly, when we face life decisions, what career to pursue, should we relocate, where to invest, etc., we need to gather and evaluate our options because our destination will be different depending on our decision.
Read More and Get An Opportunity Evaluation Tool |
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I'd love to hear from you on the topics presented in this newsletter as well as other thoughts you have regarding aligning our lives to help us realize our visions.
Consider forwarding this newsletter to your friends and colleagues by clicking on the "Forward email" link below. You never know who might benefit from this message.
Have a great day!
Sincerely,
Ron Swingle
President, ProjectLead |
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