So often, especially in the world of entertainment we need to supplement our income in order to pay our bills while reaching for our dreams. This holds true of any profession because rare it is that someone just starting out will reach the pinnacle of their field with their first job. What do I mean by this?
Take an attorney for example. They go to school, then law school then they apply for a job at a law firm. Chances are they're not going to become a partner in the law firm their first year out of school. We must work toward our goals with gradient steps.
Same holds true for someone starting out as real estate broker. You first start out building a client list selling smaller properties, learning about the ins and outs of the business and slowly build to a larger position or role. And then, you might find that there are other things that spark your interest such as owning rental properties yourself. Again, we grow into and expand our positions through knowledge and experience.
I'm all about multiple streams of income and residual income is a vital portion of that. What do I mean by residual income?
Residual income is income that you make even after the work is done. Owning rental properties is an example of residual income. You bought the property and rent it out. The monthly rent you get from that property is residual income. Television and Movie actors make residual income on the TV shows, commercials and movies they make. You can see examples of this on IMDB. Each time the movie airs they get residual income. And another great avenue for residual income is the network marketing business. In my mind one of the greatest business out there for ANYONE to get involved with because you can do it full or part time.
How does this apply to the entertainment world and surviving until your reach your goal? Well look at it this way, you'll need to pay your bills, eat and have shelter while you're pursing your dream so what can you do that will compliment or work with and in conjunction with you achieving that goal?
If you're an actor living in New York City and want to pursue a life on the Broadway Stage it doesn't make much sense to take a real estate job in Idaho to pay your bills. So what can YOU do in the location YOU live in to make that dream a reality?
I look to income opportunities that allow me the freedom to pursue the long term goals in my life. I also look at areas in which I have a keen interest. Unless I'm interested and sold on the project of business myself...I NEVER enter into it. It would be a waste of time and effort. If you don't believe in your product then you'll never get others to believe in it.
Performing 8 shows a week takes its toll on the body. Staying fit and healthy is a way to have longevity in this area so that my body won't break down over time. I've mentioned this before, I look at stage performers much like athletes and if you've ever been to a show that has high level dance you'll know what I mean. And believe me when I say that singing for 2 hours a night 8 times a week takes a physical toll as well.
All that said, I found avenues and business that supported health and wellness and branched out into those. They helped to keep food on the table in the early years and now present great residual income even when I'm working as an actor or producer. In short, those industries continue to generate passive income. I have a team of people who work with me in this area and it's something I encourage you to look into if you want another stream of income. It takes work, everything does, but the long term payoffs are great. You can make your own hours and the level of income is literally up to you and how hard you work.
Being able to pursue this particulate field part time and creating your own hours allows you to focus on the big picture, your goal, your dream. And it can create the kind of financial freedom that alleviates the need to take job just for the sake of taking a job. As actors wouldn't it be great if you didn't have to wait tables? Tend bar? Well it's possible.
Even for those of you not in the entertainment world this type of business has huge potential. I've know people who started part time and created so much success with it that they made it their full time job. They have the freedom to travel when and where they want. They are their OWN BOSS and create the kind of life they want. The company we work with is now worldwide with branches in China, Japan, South Korea, Canada, Mexico, New Zealand the USA and more. There are many companies out there with many different product bases. I just like health and wellness and the company we work with has incredibly high level products.
In the end, you need to find the things that YOU believe in, that align with your purpose as a being and that you are sold on yourself. No matter what you're doing for work right now, make sure you believe in what you're doing for only then will others believe it too. Learn about it, everything about it. There is NO reason why you cannot achieve your dreams despite any adversity.