Building An Income Pipeline
Are you working hard or working smart? Are you carrying buckets or building pipes? You are carrying buckets if your income will stop when you stop working. You need to build your business into and income pipeline by ensuring that your business can ensure a steady income stream even when you stop working or go on vacation.
There is this story of three young men, Strong, Senior and Smart lived in a rural community that had no source of water. When they identified this need, they knew they could earn a living by offering a solution. They approached the King and reached an agreement to supply water from a nearby stream to the community.
On the first day each of them set out with his bucket to the stream, at the end of the day each had been able to fetch 1000 litres of water and each was paid $100 as agreed. The work was tedious but they were excited with the pay, they were so happy and felt it was dreams come true.
After some weeks Smart wondered how long they could continue with this struggle, he envisaged what would happen if they were old or had challenge with their health, hence he called his friends and shared his concerns with them and offered an idea, that they could pull their resources together and construct a pipe line from the stream to the community. Strong and Senior were very much opposed to the idea; they could not understand why they should compromise their thriving business for a cause they were not sure of the outcome.
Senior shared some of Smarts concerns but suggested that instead of constructing a pipeline (a concept that is totally different from what they were doing,) they should save up
some money and buy a truck that they could use in carrying the buckets. Strong was opposed to both ideas; he was making money on a daily basis. He only thought that maybe he should also carry some buckets on weekends to make more money instead of spending his time or resources on any of the two ideas.
They parted, Senior saved some more and bought a truck so he could carry his buckets in his truck, Smart started constructing the pipeline and Strong continued fetching water with his bucket. At the initial time because of the time Smart was devoting to pipeline construction, he was fetching less buckets of water and Strong’s strength was waning so sometimes he could not meet his quota, but Senior with his truck was fetching much more and making more money.
After several months Smart completed the construction of the Pipeline and in a day was able to single handedly fill all the tanks in the community. He then decided to offer this same service at a discount as he could provide this with less effort. Strong and Senior lost their jobs and moved out in search of another bucket carrying jobs. Smart had an income pipeline and ample time at his disposal, he could afford to spend time with his family, go on holidays and attend to his spiritual and social needs.
You can build an income pipeline today by starting your own business and developing it in-line with the pipeline concept; it is all a matter of strategy. It is better to build a pipeline than to carry buckets, no matter how long it takes to build the pipeline. You can eventually leave the pipeline for your children and even your generations to come will be better for it.