Income Options
48 Days to Creative Income, Day 12
Day #12: Which income option have you been using?
Not much of a discussion point but 48 Days basically lists out the 3 models of income generation and asks in which have you been using?
Option #1: Traditional Job, Guaranteed Income, Guaranteed Benefits, etc.
This options should be painfully familiar. It’s the Day Job. It’s a clear exchange of Time and Effort in exchange for a paycheck. How do you improve the income? Well for most of us it’s mostly tied to promotions and job responsibilities. In many cases the potential for promotion is extremely limited. Also in most cases your co-workers are moving right up the scale with you.
Unfortunately, the vast majority of us are stuck here. This Option is my answer, whether I want it to be or not. What do you really trade for this? Time and Effort? More like Stress and Frustration in my opinion.
Option #2: Base Salary but Bonuses and Commissions for Performance
In keeping with 48 Days’ focus on Sales, Option #2 is presented. It is considered a bit better because of the safety cushion of the base salary, but it’s potential comes from your ability to get out and perform. You can work as little or as much as you want and make as little or as much.
Option #3: No Guarantees, No paychecks, but unlimited potential
The is model is nebulous at bet. Both from a 48 Days perspective (bad) and from a life perspective (good).
The 48 Days program gives examples of you building a business off of hot dog sauce or NASCAR models, which is extremely lame, but the idea is more than valid. In fact it is the model that we really want to use in order to Quit the Day Job.
Unfortunately the program basically focuses on you starting your business, I don’t think you HAVE to do that. I don’t think any of us really think in terms of “business” anymore. Any of you trying to work with web ideas like affiliate marketing, etc., do you really consider that a business? I don’t think so. I think in today’s world we think more of income streams.
Sadly Option #1 is what I use. I’m not happy about it, I could be in the right job, but I’m in the wrong job.
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