Vikram Brahma is a Digitalpreneur, and full-time Blogger, Writer, YouTuber. He is launching and publishing his first book by Jan' 2021.
In the past, I have written many articles related to rich people and how they make money. I never lose my enthusiasm to write more about them. I think if you ask multiple people questions related to how to make money then you will get many options. But despite so much information available on net people are not trying to build their different income streams.
Since I am excited to write about this article, I will share four different income streams which rich and famous people build. But as I always say, there is no get the rich quick scheme, you need to work hard with smartness.
You need to develop the habits of wealthy people. We are the outcome of our daily habits. Strong habits will give strong results. So, let’s see what are the four income streams which rich people love to have.
Let’s begin with the first type of income. I assume most of us will fall in this category. By the way, this is the first kind of income which anyone can build. You can work in any organization and build this source of income. You need to have some qualification as per the job title.
The best part about this system is you will be get paid every month as per your work and job title. Normally, as you go higher your income and job responsibilities will increase.
I personally believe everyone must start their journey by working for someone else. In this way, you will get the first-hand experience. You will make friends, enjoy time and understand how to manage your official matters in the most professional manner.
Due to coronavirus, some people are having trouble getting any active jobs. If you are an employee and getting paid every month then consider yourself blessed enough. Make sure you shine during your tenure.
Now, let’s understand the second type of income which many rich and wealthy people have. I am sure if you are reading this article, you will love to have not one but even multiple sources of passive income. And the fact is even I will love to have and working hard day and night to attain this goal.
In simple words, passive income is that source of income for which you don’t have to work actively every time. You just need to build the product or service once and you will be get paid everything someone uses your product or services. This is another amazing source of income.
For example, if you use any apps like Uber or Ola, then the company gets paid without sending their representative to their customers and they don’t own any cabs. But now if you will say, hey we don’t have that much budget to build any apps or idea what other best options we can have?
My friends then start building your digital assets. Write ebooks, start a YouTube channel, start podcasting, start a blog, create online course etc. There are so many things you can do online but remember these are not one day work. You have to work continuously for a few months or years before you start expecting a good return. But believe me, every effort you will put honestly will be worth it.
Have you ever thought about how rich people become super-wealthy? Well, they are wealthy because of many reasons. They have great ideas, get money from investors/shareholders, they convert ideas into business. In simple words, they know how to make money from money or in many cases they know how to make money without even having money.
Now, if you are thinking like hey we have some money and can we increase the worth of our money and is there any solutions? Yes, there are plenty of options out there.
You can invest in the stock market and it can become one good source of money-making option. And whether you believe or not many people who are super-wealthy today continuously invest, trade and make money.
Then there are others who invest in the new start-ups, lookout for opportunities and just see their money and wealthy grow. These are again extremely smart breed of people. Once you will learn this way of making money then you can grow your wealth exponentially.
This kind of income is related to your brand value in the market which is related to your industry. Thanks to the reach of social media sites like YouTube, Facebook, Instagram or Twitter. They are helping common people to become a kind of celebrity. These new breeds of people are known as social media influencers. Nowadays, companies and brands are happy to work with them.
Do you know depending upon your followers in Instagram you can approach companies or brands? If everything goes well then you can charge a good amount of money for promoting their brands in your profile.
Big celebrities like “The Rock” charge a lot of money but if you have even ten thousands followers then also you can charge $100-400 per post. But once you become more popular you can charge even more.
An influencer with 1,00,000 followers could charge up to or over $1000 per post. I know some social media influencers in India who charges up to Rs. 3 lakh ($4,000) per post.
I hope this article of mine has given you some insights related to what kinds of income rich and wealthy people build. It is very important in life that we should work and build multiple sources of income. And in today’s time, it is somewhat easy to build but you need to know the right techniques and ready to work hard. I suggest you go online and start building your different income streams.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2020 Vikram Brahma