The source of income
All income comes from one source and that source is skills; without them, you cannot earn income. Today, you earn income because you apply certain skills to solve problems for your employer. This means that if you focus on developing high-income skills first, you will generate the income that will fast-track your investing effort. Focusing on investing first is a slow process. Today, active income is still the most potent income in the world. Only a strong active income can produce strong passive income: thus, to grow your income fast, you must first focus on developing high-income skills. Yet, having skills alone will not produce the desired income.
To lift your income above your goals, you need three other components. The first is time, the second is relationships and the third is income earning platforms. Skills without the time to apply will generate no income. Skills with time but without relationships will produce no income. And the skill with time and relationships but without a platform to earn income, will still lead to no income. Thus, the only way to truly earn an income is to have skills, time, relationships, and platforms working for you. Your job has these four components. First, you have the skills to help your employer make money, that’s why you were employed. Next, you also invest your time to offer this skill, then you offer it within an income-generating relationship, and finally, you earn income through a job platform.
So, if you have skills, time, relationships, and a job platform, why are you not still earning the income of your dreams?
Tools that produce high income
There are four tools for earning high income and they include skills, time, relationship, and platform. Yet these four tools combine to produce three different types of income. The first is the low-income, the second is middle-income and the third is the high-income.
Low income is any income that is lower than your bills. If your bills are ahead of your income, you earn a low income, regardless of how much you earn. Low income is produced by low-income skills. And examples of low-income skills include theory-based skills (Fresh graduates), routine-based skills that can be done by anyone or machine, and skills that have no direct relationship to the company’s bottom line. Thus, a low income is produced when you combine low-income skills that require plenty of time and focuses on serving one employer through a single job platform.
The second is middle-income skills.
Middle-income skill is any skill that can earn income that is above bills. That is, earned income enough to pay bills and also create a financial safety net. Thus, people with middle incomes are able to maintain financial stability for months without a salary. Examples of middle-income skills include low-income skills that have been refined over time and through many years of experience or some job based specialized skills. This means that most middle-income earners have many years of experience. Yet middle-income skills are still job-based skills. Out there in society and all by yourself, you may not be able to use them to earn income at the same level. Most middle-income earners also serve one employer at a time and leverage one job platform. Thus, to earn a middle income you must be ready to stay long in the corporate world.
The third is high-income skills.
These are skills that can produce an income that is above your present and future financial goals. This means that high income skills can buy you financial freedom. To earn high income, you need high income skills. Examples of high-income skills include creativity and innovation, productivity and time management, rich relationship building, and influential marketing. All high-income skills are evergreen skills and multi-industry. This means that they can be applied in any industry on any platform and at any stage of life. High-income skills also require less time to generate income and they are the most potent multiple income tools. If you want to lift your income above your life goals, you must invest in developing high-income skills.