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Saturday, October 4, 2014

Multiple Streams of Income

Hello Everyone!

Over the years, I have read books by and followed successful people.  I understand everything starts with the mind.  In order to be successful, we have to "change our thinking to change our lives."  After the mindset has changed and opened to new ideas and opportunities, the plan has to be designed and implemented.  In the hair industry, a lot of people don't think beyond the chair.

They work until retirement age without a plan.  But, today, I'm happy to announce, cosmetologists are smarter! They are retailing in their salons, embracing other opportunities, specializing in certain areas, and planning their financial futures.  Also, because of the economy, many have had to take on a second job, outside of the industry.

Donald Trump, Bill Gates, Warren Buffet and other successful people have multiple streams of income.  We may know them for certain areas of expertise.  For example, Donald Trump is known for real estate. But, he has a television show and other projects in which he is involved to generate revenue.

With the emergence of social media, so much is exposed.  The exposure can be good and bad.  In the hair industry, people going on YouTube to learn a new hairstyle is good for the consumers, but, bad for the hairstylists.  If clients can learn how to do hairstyles and what to use to achieve them from YouTube, the results may be a decrease in business for the hairstylists.

I encourage hairstylists to go to school and take classes such as; Marketing, General Business, etc., to learn how to advance in this industry.  I urge them to keep an open mind and explore other business opportunities, while staying true to what they love.  A lot of people are satisfied with a job and a pay check.

What happens when you retire and have no skills?  What happens when you retire and the paycheck is less, yet, you have the same bills?  What happens when you are too old for the jobs offered and no employer wants to insure you?  What happens if what you are doing now is all you know?

Open your minds and embrace something new!  Plan your retirement now while you are young.  Don't exist in this life, live it!!!!

Create a Better Day!!

Toni Love
Author:  "The World of Wigs, Weaves, and Extensions" (sold everywhere)
Facebook:  Toni Love Cosmetology
Twitter: @tonilove205