Seven Sources of Income

Making money comes in different ways which involves different forms of businesses and smart money investments, The term streams of income is not a common thing to most people in the public as everyone is made to believe and focus on a single stream of income which is either a Job or Profit income.

Income is generally defined as money made through work or Investments, I have wrote this article to help you have an Idea of the type of income sources that one should look forward to in order to grow in the entrepreneurship niche, Running a business in this competitive world involves a lot of risk especially if you have very less Idea about the type of business you run and also on how to generate income from your business, a lack of understanding the type of income source you trying to generate can become a negative factor to a business as the business owner might try to combine different income sources and negatively affect the business aims.

7 Income Sources

Earned Income 

This type of income comes from offering services to a client or from being employed by somebody to render as service, this income comes from work done by you as an employee. 

Interest Income

Interest income comes from investment interest, this income opportunity is mostly offered by Banks, Hedge funds and other investment companies who require you to invest money with promised interest.

Profit Income

this form income comes from the sales of goods, in order for one to make this income you will need to be very good in making sales and if possible hiring an advertising team and marketing team will definitely bring you clients.

Making of Sales

This is one of the most important factors in a business, the making of sales is very important to keep the business running, sales may drop due to high competition in the industry and lack of good service provided by the company.

Dividend Income

This income is mostly made by people who own shares on companies and trusts, dividend income comes annually during the financial year end of a company.

Royalty Income

Royalty incomes comes from royalties which are sales and paid video streams, this type of income is earned by Musicians and actors based on their performances. 

Rental Income

Property has been the best investment opportunity and will always be, This income is money paid by tenants to the landlord who is actually the person responsible for the property.

Capital Income

This similar to interest company but in this the investor puts money (capital) to an investment and then they control the the growth of the money, This income is mostly made in Financial Trading whereby a trader will put capital as an investment to earn from price changes in the markets.