Has your business considered e-commerce in light of COVID-19? A number of businesses have been adversely affected by slowing or changing delivery dates for stores, supermarkets, retail establishments as have others that utilize a supply chain management business model.
These models are contingent on each part of the chain operating seamlessly. When one part of the chain is missing, another moves forward.
Hence e-commerce can be a viable option for such businesses
in place of having a traditional 9 a.m. to 5 p.m. retail store
model. Upon completing a business class in 2010 at a church in
Prince George’s County, Maryland, I learned that having seven
streams of income is suffi cient to ensure you have fi nancial
sustainability. Now, that doesn’t mean you have to have seven
jobs!
For example, you can have several online businesses,
hobbies that generate revenue. And a traditional job to earn
your “bill money” rain or shine and six other revenue streams.
Such a structure might look like this:
A traditional 9 a.m. to 5 p.m. job: Something that pays state
and federal taxes, possibly a deferred pension, that helps you
accrue retirement income. Later in life, this can be your Social
Security check, which you can receive at 62 or wait until you’re
70 for your deferred pension.
Hobbies to generate income:
- Writing for paying publications.
- Speaking engagements.
- Cleaning commercial or residential establishments.
- E-commerce: online store selling, other writing.
- Creating curricula for profi t and non-profi t organizations
that want to educate managers, supervisors and
coordinators. - Providing training manuals that include models that
refl ect current industry standards for call centers and
Fortune 500 companies.
