Every early in my career I realized that I need to create additional income streams. When I was 22, I started writing for a local magazine that paid me INR 500 per post. I collected that money to purchase a domain called – madeitsimple[.]com. Although this domain is no longer in existence, but it was my 1st blog that brought me my 1st Google Adsense Paycheck of $100.
My next venture was a website called – cricketsimple[.]com. Yeah, the similarity in names, I get it.
Back in 2010, I was first to start IPL (Indian Premier League) based online fantasy tournament. The SEO of this blog was so amazing that my blog used to rank higher than official IPL website. Soon something happened that closed down the website.
I was using some trademark keywords for which I was not authorized holder of trademark. I had a few friends who used to get some nice IPL after party pictures which I used to buy and post on this site. It was an instant hit. Unfortunately, site was shut down immediately.
Then came my personal blog – I cannot write name here for some privacy reasons.
It was one of the first taste of success – I tasted success with affiliate marketing with Amazon & Flipkart. I covered basis of Affiliate marketing and how to make money with Amazon affiliate on this blog. Some technical topics were covered too. I was making decent money from this blog before my friend, who owned the servers where this site was hosted, crashed my site. The damage was beyond repair and I lost motivation.
By now, I had become good at technical writing and I approached an international journal to write an article for them in 2009. And made my 1st big income from freelance writing – it was $2000.
So far, I have written over 25 articles for them – totaling more than $25,000 from part-time freelance writing. and I still continue to write for them.
Then came the equity market boom in India
I started a stock broking company on my wife’s name back in 2013. Not only this business is still active with whatever clients I had back then, but it provided me great source of passive income for more than 4 years. I also ran advisory business for time being under this same business.
Fast forward 2016 – I was badly stuck in my mid-career crisis.
Not only I was down with zero confidence, I had no job security. I was desperate to find more sources of income. I invested in a few business ideas that got bust and I also made a commercial property deal that I was forced to sell off in loss.
Fast forward 2019 – I am living in Europe, running training program for new traders, conducting live classes, and providing paid consultancy to certain segment of investors in startups.
Today I have following sources of incomes:
- Primary – From day job
- Investing Income – From equity investment capital gains & dividends
- Trading Income – From trading in equities & futures
- Skill based Income – From coaching, training, and consultancy
- Supplementary Income – From providing certain services in equity markets & mutual fund distribution
These 5 sources of income have 4 passive income sources & 1 main income source. I am extremely happy that finally I have come to a stage where I can write and coach my fellow folks from India to build similar passive source of income
Kickthecubicle is a philosophy, a mindset, that enables you to think ahead before others. We are living in tough times where layoffs are new usual, skills are getting redundant faster than ever before, and businesses are facing slowdown.
It is high time that we take things in hands and seriously start building additional income sources because it takes time to have a consistently profitable income source.
Future is going to be tougher! Better start preparing today.
It takes time to build a passive/additional income source that consistently makes money, month after month, for years. Therefore, it is essential that you realize this aspect early on in your life and start working in your spare time.