We all want and think about diversifying our income and end up asking ourselves, “How do I achieve that?” Well, it’s actually easier and more straightforward than it seems.
The goal of creating multiple income streams should be to maximize your potential in each category available to you. Leaving Detroit, his home for 20 years, to move to Chicago and Las Vegas before finally moving to Atlanta, Neyo White’s mission was to settle for what worked for him. His experience working a 9 to 5 at Atlanta Publix not only paid him a handsome income but provided the skills he needed to become the entrepreneur he is today.
Having multiple streams of income gives one financial freedom, and this is something Neyo White strives for: to become successful and support his mother and brother, who is struggling with autism.
After employment, Neyo thought of gaining income diversification through investing. It is extremely important to look at where and why we should invest: the money we could gain from a good investment could be saved for our dream ventures.
Neyo invested in his clothing line business ‘Legacy Wealth Fashion’. Other than that, he invested in a real estate business. In the future, he plans to invest in and create a skincare line for African American men, something he decided to do after his own skin was badly affected by a skin peel.
The most common and easy stream of income is through creating a side business, or we could call it a “hobby business,” because it usually takes the form of one of our hobbies. Neyo has always wanted to be an entrepreneur, and he became one by investing himself in something that other emerging entrepreneurs could use as well.
Legacy Wealth Fashion designs custom-made t-shirts and hoodies for men and women with motivational quotes on them. They cater to entrepreneurs of all kinds in order for them to have their own personalized apparel. Neyo wants to inspire people to pursue their entrepreneurial dreams instead of getting crushed by corporate slavery.
The ultimate goal behind Neyo’s idea of starting multiple businesses is to be able to help existing and new upcoming entrepreneurs. Seeing them achieving the success that this need is what’s the idea behind it all. In the end, it is all about people not having to struggle and helping multiple families be financially free.