Multiple Streams of Income

With the economy being unstable at different times of the decade, it has always been the mantra that we should have multiple streams of income.  This is how companies survive and Originally.Us is one such local company. Now, I have been using SGBushLeh since Alvinology introduced it and I really like the interface. It has been updated and now, it is my favourite app to use when checking for bus arrival time.

While Bus Uncle is rather entertaining, I rather have a way to store my commonly used bus stops and check on the bus schedule. Originally.Us has also introduced blue light filter. This new app will automatically detect whether if you are in a dim room and the blue filter comes on. That way, it saves our eyes from being strained. I’ve been using another app since Samsung phones do not come with such feature. Oppo R7 Plus does have it but it is a manual process. Huawei Mate 9 has this and I can schedule the filter.

Now, why am I introducing apps? From one company, I have realised this morning (3am) that even companies need to have multiple streams of income instead of just relying on one service or product to survive the economy. There will be times when the product runs out of favour with the market and simply has to be put to rest. Just like how iPods are now dying.

So, us, being employees, we have to be diversified in our income too. Relying on just one job is not enough. Not many companies encourage us to attend courses, we have to be proactive in investing in ourselves since companies still have the bottom line to think of, they can’t be sponsoring our courses every single time. What I do appreciate is that if companies were to provide in terms of other things.

  • Allow study leaves
  • Allow exam leaves
  • Allow subsidized courses, embrace the WSG funding, and whatever the government is providing

Perhaps we might not enjoy the full time jobs, we can still do something with the spare time that we have. This is what I got after completing An Entire MBA in 1 Course. I am beginning to think of myself as a business. I am my own brand. When the company is being affected by the economy, I still have another stream of income that helps me tide over until I get another job. We can always have a full time job and a few sidelines. Although, most contracts in Singapore ensure that we cannot do any sidelines by making us sign the agreements. If I understand correctly, we cannot do something that will take business away from the company.

With the globe becoming more of what the term is called “gig economy“, we might progress towards the stage where we are the business and we provide products and services. That’s why Freelancer, Freelance Zone, Fiverr, FlexJobs are gaining popularity. While MLMs may have gained a bad name due to unscrupulous companies methods of operations, there are a few that are legitimate and the products are actually deeply researched, if I can call it that. Pyramid schemes operate in a way where by when more people join because of you, you get more commission.

Now, I will concentrate on Singapore. I am not sure if Singapore is that welcoming in doing jobs that are flexible in timing. Sure, we have uberEats, FoodPanda, Deliveroo, and mostly delivery guys doing a lot of flexible time. A Java Developer, Mobile App Developer may get the flexibility of working from home but not all companies provide that. There are too many concerns. However, the flexibility to work from home can be improved with both parties doing their part in communication and also, as long as the company has a place to conduct meet ups, and the employee who is on a flexible basis is willing to travel to the meet up point on a weekly basis, things can work out.

I’m huge on flexible working. Perhaps, romanticise the flexible working arrangements but technology has been giving us a lot in different ways of communicating, right? Just look at how Facebook managed to explode the ways to communicate.

Now, back to the gig economy thing. We do have to invest in ourselves in having multiple streams of income. It’s how we do it. Sure, a full time job can use up a lot of our time. Weekends are for relaxing. But when you lose that only source of income, will you still relax on weekends and after office hours?

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