A LOOK AT MY SOURCE OF PASSIVE INCOME AND MY DREAM BUSINESS

Personally, I've been a hard-working young man from a tender age. As I've been inducted into hawking and selling goods right from my primary school days, that means making money and earning income have been part of me, so as I grow, the taste and hunger to earn more in diverse ways have been one of my major driving forces, and this has led me to try various things—businesses, skills, and so on—that don't just sustain me; they also make me have abundance.

Everyone who's old enough and knows the difference between their left and right hands will literally look for various ways of earning, and having one of such is never really enough, as it will be when we earn passively. Such types of income can only be gotten when we've got multiple streams of income, have investments that are earning us something back in return, and the like. In a nutshell, there are few things that go above earning passively when it comes to what gives men joy than having multiple streams of income.

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GET TO KNOW MY SIDE HUSTLES

Like I said earlier, in my bid to earn more and not get overwhelmed by lack, I've tried many things, approaches, and skills to learn, and below are a few lists of my side hustles and how I get to earn from them.

• GRAPHIC DESIGN: Graphic design is a skill I learnt about 5 years ago, although I never took it as something I'll use as a main hustle. But I tried to learn as much as I could for free or whenever the charges weren't much on Whatsapp. After my training from different tutors, I was able to learn a few hacks about design and from that knowledge I've done several birthday card designs, for which I usually charge a token of ₦500, I've also helped business owners design flyers for ₦1,500, churches make program posters for free or few tips, and also I've been designing most of my recent article thumbnails.

• SHOE MAKING: Shoemaking use to be my main hustle until I got this teaching job, but rather than quite it entirely, I decided to employ newly graduated shoemakers who don't have a store nor the financial capability to buy the needed equipment to my store to help me run and as well make shoes for my customers, and in that process, after paying them, I also get at least 10% from each and every footwear they make.

• TEACHING: I probably should have added hive here in place of teaching, but when you compare what I had in the past few months on hive with what I earn via teaching, then I guess teaching should be the side hustle, because it contributes less to my income than hive does, although it brings in a huge amount of income too, but I'll rather address it as a side hustle because the likeliness of having an increase to my basic salary is after about every 3 years, and these aren't so for hive.

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MY DESIRED BUSINESS

One of the major businesses I wish to dive into in the coming months is the POS business of helping people deposit and withdraw money outside the bank. This is a very common and lucrative business in Nigeria presently, and if you're lucky enough to get a location where people are always in need of cash and is as well far from any bank, then you'll most likely excel in it. My plan is to gather at least ₦200,000 to start up the business, and if I can continually reinvest all the interest I get from it without spending any in a year, I believe that ₦200,000 will become at least ₦400,000, if not more.

There are many constraints I must put into consideration before starting the business, like the location, my availability to manage it on my own, or if I'll employ a staff, then it must be someone I know and can trust, or else such staff might elope with my money.

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That's about all on my various passive income avenues and how they've gone on to become a means of me having multiple streams of income that pay off regularly. The write-up was prompted by a HIVE community topic, and you can read through Kronia's post to get the elaborate details.

Thanks for reading through; have a blessed and productive day.