Mostly when we hear a about the concept of multiple streams of income we are talking about affiliate marketing business opportunities. This is a very sound theory that includes the ideas that if one program isn’t doing great at any time, the other programs will make up for it; just the fact that some commissions may be small for some programs, but if you put them together with others they even out pretty nicely.
Another way to see this multiple streams of income concept is in having for example a day job and a home business, both earning income, and/or if you have lost your main source of income and need to earn money to survive while you find another. It actually fits very well with the idea of working temporary jobs or contracts on a flexible schedule, while looking for a permanent full-time position OR building a home business!
Temporary positions can be long or short term, full or part-time. Either short term or part-time will give you the freedom to search for a job, go on interviews, etc while still earning money ‘in the meantime’. This can also work wonderfully if you have unemployment insurance, and this usually has parameters – a certain amount of money weekly for a set number of weeks (depending on your work history, etc).
There is actually a lump sum dollar amount that corresponds to this process. If you declare your part-time income from temporary assignments, then they will deduct what you earn from your unemployment benefits. It is not that you lose them — you actually save the number of dollars you have earned and thereby lengthen the term in which you will receive benefits. So by working part-time, for example, you can take 12-weeks of benefits and turn them into 16-weeks.
This gives you more time to decide what you want to do. Do you want to work permanently as a temporary part-time and run your home business? Or do you want to find another full-time job and run your home business part-time? Another good thing about temporary work is that you ‘get your foot in the door’ in businesses and may be privy to information about all of the available positions there It could perhaps go a long way if the department you are ‘temping’ in speaks highly of you to a hiring manager.
The thing is though that it is so much fun and so liberating to work at home and if you want that to be your focus so that you can eventually do it full-time, you may start getting pickier and pickier about your job interviews. You may even find yourself ‘self-sabotaging’ the interviews – completely sub-consciously – because you really do not want another job and although you need the income, there may be multiple ways you can get as much as you need!