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With thousands of Layoffs around India and the US, it’s important to not be excessively dependent on jobs and a single source of Income
How to optimise & build a strong Passive Income Source? 🧵
How to optimise & build a strong Passive Income Source? 🧵
Disclaimer - All content in this Thread from my personal & professional experiences
We aren’t discussing any get-rich-quick schemes, Don’t take it as generalised advice.
We aren’t discussing any get-rich-quick schemes, Don’t take it as generalised advice.
1) High Growth - Salary Package
Optimise for learning over compensation in the first 5 years of career, move for better opportunities and a higher salary range
Marrying your company/comfortable job might not result well in the longer term
Bonus Thread -
Optimise for learning over compensation in the first 5 years of career, move for better opportunities and a higher salary range
Marrying your company/comfortable job might not result well in the longer term
Bonus Thread -
2) Choose ESOPs - Performance-Based Rewards
While negotiating, optimise for ESOPs and try to get performance-linked bonuses added
You can’t get rich with just a fixed salary, You need to have skin in the game. Widely works for sales and marketing functions.
While negotiating, optimise for ESOPs and try to get performance-linked bonuses added
You can’t get rich with just a fixed salary, You need to have skin in the game. Widely works for sales and marketing functions.
3) Social Media is Goldmine
Stay consistent and keep adding value added content on platforms like LinkedIn & Twitter
Your Personal Branding is more important than you could imagine
Here are 15 Frameworks that have helped me
Stay consistent and keep adding value added content on platforms like LinkedIn & Twitter
Your Personal Branding is more important than you could imagine
Here are 15 Frameworks that have helped me
5) Your Visibility Matters
Strong Personal Brand & Social Media Distribution gives you a competitive advantage and access to quality network
It can easily help you find the next job, onboard a new client, get early customers and whatnot?
Strong Personal Brand & Social Media Distribution gives you a competitive advantage and access to quality network
It can easily help you find the next job, onboard a new client, get early customers and whatnot?
6) Monetisation - Social Media
While making Money from Social Media shouldn’t be the only focus, it’s a byproduct of your efforts
FYI micro creators (10-100K) on platforms like Twitter, LinkedIn, Instagram, YouTube are earning as high as ₹1 Lakh for a single post or video
While making Money from Social Media shouldn’t be the only focus, it’s a byproduct of your efforts
FYI micro creators (10-100K) on platforms like Twitter, LinkedIn, Instagram, YouTube are earning as high as ₹1 Lakh for a single post or video
7) Consulting
Depending on your niche, there are many consulting firms and network platforms that connect industry professionals with clients
People from Marketing, Product, HR, Tech etc can engage in one-time consulting roles, You can monetise your knowledge and time
Depending on your niche, there are many consulting firms and network platforms that connect industry professionals with clients
People from Marketing, Product, HR, Tech etc can engage in one-time consulting roles, You can monetise your knowledge and time
8) Paid Mentorship
You could set an hourly the rate for your knowledge and time
Either get a payment gateway or use third-party platforms.
Basis your niche, you can actively connect with like-minded people and monetise accordingly
You could set an hourly the rate for your knowledge and time
Either get a payment gateway or use third-party platforms.
Basis your niche, you can actively connect with like-minded people and monetise accordingly
9) Exploratory Assignments
Early stage Startups during their initial days struggle for many resources such as Hiring, Customer Service, Product Development etc
Connect with Founders and see where you can help, it could be a barter or paid projects
But Learning is guaranteed
Early stage Startups during their initial days struggle for many resources such as Hiring, Customer Service, Product Development etc
Connect with Founders and see where you can help, it could be a barter or paid projects
But Learning is guaranteed
10) Build a Side Project/Agency/Startup
It’s never too late to try, learn and build things. Whatever your area of interest, Building a website, Social Media page takes minimal investment
Getting that first client is always difficult but always worth all your efforts
It’s never too late to try, learn and build things. Whatever your area of interest, Building a website, Social Media page takes minimal investment
Getting that first client is always difficult but always worth all your efforts
11) Active Investing
Invest in assets that you understand, Index Funds, Fundamentally Good Stocks can deliver great returns in the longer run
With a disciplined savings rate and personal finance management, you can actually build a shield for yourself.
Invest in assets that you understand, Index Funds, Fundamentally Good Stocks can deliver great returns in the longer run
With a disciplined savings rate and personal finance management, you can actually build a shield for yourself.
12) Networking
I’m not a big fan of Work From Home, attending Business Events, Conclave, Meeting Founders Offline have greatly helped me
There’s nothing that can replace a warmth of in person interactions, Good network is an Investment and can truly transform your life/career
I’m not a big fan of Work From Home, attending Business Events, Conclave, Meeting Founders Offline have greatly helped me
There’s nothing that can replace a warmth of in person interactions, Good network is an Investment and can truly transform your life/career
13) Hustle & Hard Work
Unpopular & Personal Opinion - You can’t really grow in a comfort zone, to accomplish great results you need to step outside
Working in weekends, exploring new things and projects (non monetary) has also benefited me to learn and grow.
Unpopular & Personal Opinion - You can’t really grow in a comfort zone, to accomplish great results you need to step outside
Working in weekends, exploring new things and projects (non monetary) has also benefited me to learn and grow.
14) Invest in Knowledge
Investing in books, software, knowledge, people can deliver fruitful and priceless results, sometimes much higher than money
Learning new skills, upskilling, having good understand on tools & software, automation can help you navigate over competition
Investing in books, software, knowledge, people can deliver fruitful and priceless results, sometimes much higher than money
Learning new skills, upskilling, having good understand on tools & software, automation can help you navigate over competition
15) Compounding
Everything compounds in life, career and world. Differentiate between positive & negative compounding effects
Making money shouldn’t be the only goal, working on a purpose is more important to make you feel happy & content.
Everything compounds in life, career and world. Differentiate between positive & negative compounding effects
Making money shouldn’t be the only goal, working on a purpose is more important to make you feel happy & content.
That’s all; Your time, friends circle are extremely important to achieve something meaningful.
No job is layoff proof, having a strong passive income source, business can act as an Umbrella (cc - Parag Agrawal)
I hope you liked reading this Thread, highly appreciate RTs 🙏🚀
No job is layoff proof, having a strong passive income source, business can act as an Umbrella (cc - Parag Agrawal)
I hope you liked reading this Thread, highly appreciate RTs 🙏🚀
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