Creating multiple streams of Income is hard as opposed to the people who says that it is quite easy. I have tried blogging, I have tried YouTube, I have tried stocks, I have been on Hive too along with the job. Trust me I have failed in almost every other field. I might be wrong, it might have worked for many but not for me.
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The main problem is the time required in every other income source. For blogging you have to be very good in SEO and in your writing of you want to be on top of the Google search, otherwise there is no money at all. For YouTube you need to have a great script, great edits and other things so that people will watch your videos. For stocks, even though I am doing it requires a lot of money beforehand to make manageable income from it.
Hive on the other hand is better from all the above where you get passive income from the Hive Power you have. Also you can earn while writing. But again you have to be consistent as well as you cannot expect the income stream from the Day 1 itself. Yeah there are people who have made big on Hive with their hard work and a lot of people are in process of becoming big on Hive.
If I take my example, I am earning close to $100 to $200 per month which is again decent one if not great. Now this is where the multiple income streams comes into picture. Think of 5 passive income stream which is giving you around $100 per month which will make $500 per month.
What have I learned is that you cannot work on all the passive income at once. For example, if you are running a blog work on it day and night and once it starts yielding the results then only go to the next income strategy. Like in my case, when my income from curation on Hive becomes $100, then I will start working on my blog again. As of now I am working on 2 things, Hive curation and stocks ETF strategy.
As I have less money to invest in the ETF strategy as of now, it will take time to get around Rs 10K per month from it. I feel like if I have around 7 lakhs, I can easily get Rs 10K per month from it. And thus once it is done, I will move to the next income stream. As of now my two income stream is going on which is truly passive and doesn't require much of my time.
Again creating income stream is hard because you need ample amount of time and hard work to create that income stream which most of us fail. I too have failed but will try again and might succeed in the future. So if you are starting out to create income streams for yourself, do not try to jump on every other platform. You have to succeed in one before getting your hands dirty in others.
