Step 34: Income stream 2: Profit Income

Step 34 of the 100 steps mission to financial independence: Income stream 2: Profit Income
Step 34: Income stream 2: Profit Income

Where step 33 described the features, (dis)advantages, and possibilities for change of an earned income, we are now going to look at profit income. A profit income is the money you get when you have a company (which can be anything from an Etsy shop where you sell handmade things to a multinational company) and are able to sell your products or services above the cost price thereby taking (some of) the profits as earnings.

Many people dream about having their own company, and although this can indeed be a lucrative project, being an entrepreneur also requires a lot of hard work, and often at least a few years before a company starts making a profit. It furthermore involves a lot of new skills, quite a bit of risk and a lot of perseverance, so the life of an entrepreneur isn’t always as rosy and making a profit income isn’t always as straight forward as it might seem. (You can take my work for this, I have some experience..). Continue reading