Jeff was stressed.

He had just been told that his company might have lay him off.

“What am I going to do?” he cried out to God.

“How am I going to support my family?”

“How am I going to pay my rent?”

Jeff was told that if the contract didn’t come through with the companies main distributor, not only him but his entire division would be let go.

Jeff shared with me the several months of faith building experience as he tried to give this worry over to God. The entire experience brought him to his knees the more.

What if I told you to invest the majority of your money and trust one stock pick? Most people would call that foolishness. You need to diversify, to spread out that risk. But the reality is most people have that one stock pick which is doing well for them at the current time. $42,000 a year from the single stock pick of your “J-O-B” And yet with a single stock pick influencing that amount of money there is risk.

Proverbs 31, the virtuous woman, is a passage that makes many women feel insecure. The interesting thing is that the activities of the virtuous woman have very little to do with our traditional gender roles, but have everything to do with being an entrepreneur. These principles are relevant no matter your gender. I think God has a sense of humour because God knows that most guys won’t bother to read it. In Proverbs 31 we see entrepreneur activities are combined with Holy character qualities. [1]

What does she do as an entrepreneur?

  • Resource Development – “Works with wool & flax” (v13) A good woollen garment would cost between ½ month to 2 months wages.
  • Human Resource – She realizes the power of mobilizing others, she doesn’t do it alone. (vs15)
  • Real-estate investing – “She considers a field and buys it.” (v16)
  • Agriculture – “She plants a vineyard” (v16)
  • Seamstress – “she makes garments” (v24)
  • Seamstress – “She makes sashes or belts for the merchants” (v24
  • Saleswoman – sells her garments she has made (v24)

And after listing all those things that she does her children and her husband praise her. Why? She has been praised because her entrepreneur endeavours have been a blessing to her family and the community.

The average millionaire has 7 sources of income.[2]

Having multiple streams of income soften the blow of a layoff from your job.

These list of entrepreneur activities of Proverbs 31 were related the culture that it was written in. What would the list look like if it was written today? It would include items such as investments, dividends, rental income, capital gains, business income, and royalties. I want to encourage you don’t get overwhelmed with so many options of generating side income. Choose one way, and focus on that till you really understand it and master it.

Denise, one of our readers sent in a question.

“I need ideas for legitimate home based businesses. I need a way to generate income after a recent life change.”

Here are 3 quick tips you can generate an additional income.

TIP #1 – The easiest and quickest way to generate an income it to get a traditional full time or part time job, using your current skills, while you work on additional income streams. I realize that if it an emergency you need something quick and stable to meet your present needs.

TIP #2 – The second easiest way to start a business is to get a franchise; no I’m not talking about McDonalds though this would fall into the category. Joining a franchise is most often the easiest way because all of the training, and materials are provided. What is the most common franchise people jump into? It’s a home business called network marketing. Even the words network marketing put a bad taste in many people’s mouths. We all have friends that tried to pitch us on the greatest health product. And then if you say no, you never hear from them again. The question you need to ask yourself. 1. Do you believe in the product or do you just want to do it for the money. 2. Do you enjoy recruiting? The power of multi-level marketing is not in sales but to train other people in sales. 3. Be careful about having to buy a lot of product that only later you find you can’t sell it.

Chris Guillebeau has written several books that talk about simple steps of starting a business. His book “The 100 dollar start up” lays out simple ways that you can start a business.

TIP #3 – To start a side business. The first question is what is your passionate about doing? How can you use that passion to be a blessing to more people. Do you have a passion project that can lead to income generation? That could be writing a book, or offering a service to people. Maybe it’s driving for uber, or offering a room on AirBnB. Like with any business you start:

A business only works, if you do.

It’s going to be hard to have a home-based business with children running around the house wanting your attention. Trust me on this, my wife has discovered first hand the tricky business of running a business while she had toddlers under foot.

As Guillebeau says, “In ancient times, people who were dissatisfied with their lives dreamed of finding magic lamps, buried treasure, or streets paved with gold.  Today, we know that it’s up to us to change our lives.  And the best part is, if we change our own life, we can help others change theirs.”

Today, I want to encourage you to trust God no matter what your current financial situation. This is the number one thing for a believer to remember. Paul says, “faith without works is dead,” and so I want you to start thinking and praying about how you can be like the Proverbs 31 entrepreneur and have multiple streams of income.

Recommended Reading:

The Gasp: How to seize that A-HA! moment and turn it into a winning business by Michael Prywes

  • I love the idea of mind mapping your business idea to brainstorm your idea further.

The 100 dollar start up by Chris Guillebeau

(No the above are not affiliate marketing. I would encourage you to save money and borrow them from the library.)

Interested in writing a book? Check out: Self-Publishing School free webinar, or check out the books by Chandler Bolt

 

 

[1] Haymond, Jeffrey E. ,The Proverbs 31 Woman: Entrepreneurial

Epitome? Faith & Economics, 2012 Number 60 – Fall 2012- Pages 1-16

[2] https://wallethacks.com/7-income-sources-streams-of-millionaires/ retrieved 12/20/17

https://www.linkedin.com/pulse/7-income-streams-most-millionaires-manoj-arora/ retrieved 12/20/17