Have you seen a picture of the Parthenon in Athens, Greece? I will never forget walking up to the massive granite ruins. The size and power still remaining in a building constructed 2500 years ago is overwhelming!
Although the roof lies on the ground, in pieces, most of the columns that supported it are in place. There are a lot of columns!
I think of the Parthenon's roof often. If its' roof had not been supported by all those columns it never would have lasted as long as it did. By any standards, it lasted a long time.
I have a roof, which shelters my family and I call it a financial or revenue roof. It provides for all our basic needs. Revenue or income also emotionally supports us, and provides the extras we enjoy in our lives.
I do not want my roof to fall in. My Parthenon Principle is to support this financial roof with as many columns as possible. If one column of income collapses (and they always do) there are others to take the weight so that the complete revenue structure will not crash on our heads.
Another way to look at this is - do you have all your eggs in one basket? Is your entire income dependant on one source? What would happen to you if that source disappeared?
Last month, I lost my largest corporate client. It happens. This client had grown over the last five years, slowly utilizing more of my services and representing over eighty percent of our revenue.
I had let it get disproportional large. Fortunately, we were prepared with backups, and other 'standby' pillars of revenue, ready to be rushed in, to support the revenue roof.
Think about your income and revenue, and prepare for worst case scenarios. Make the choice today to support your revenue roof, and your income streams by using the Parthenon Principle.
1. Build an emergency fund of at least three months of expenses. Not only will this fund provide emergency support if needed, you will have a sense of financial freedom just knowing it is there. Think of it as a spare column for your roof. You might not need it, but it feels good having it!
2. Consider additional sources of income. Can you create something to sell? Is there somewhere you can add on part time work, doing something you enjoy, which would provide you with added income? Even a small amount of money will build a financial reserve, and give you an income if your primary source fails.
3. Eliminate your debt as much as possible. You can manage without income far longer if there are no monthly payments to be mailed.
Think Parthenon Principle!
Your online friend and Coach,
Miami Phillips
Helping others find their path - and stay on it.
www.creativemasterminds.com
Quotation of the Week
"Failure to prepare is preparing to fail." Mike Murdock
About The Author
Miami Phillips is an ANSIR Certified Personal Coach and the founder of Creative MasterMinds who believes personal growth is an essential ingredient to being happy and contributing to this world. While his main focus is affordable personal and business coaching, he also offers motivational teleclasses, ebooks, reading recommendations and much more. To find out more visit his site at http://www.creativemasterminds.com or send him an email at coach@creativemasterminds.com
Here are some thoughts about the morphing of thought and... Read More
Everyone wants to be wealthy. Only a few actually achieve... Read More
Want to be one of the lucky ones on the... Read More
Very few people whom I know are familiar with the... Read More
As someone who loves to shop, enjoys holidays and owns... Read More
The cashflow board games, Cashflow 101, Cashflow 202, and Cashflow... Read More
Simple tips on saving can very often make quite a... Read More
Parents must give serious thought to protecting their family through... Read More
To lose weight in the 80's, we went on low-calorie... Read More
This is a true story about a homeless man from... Read More
Uncle Sam and his band of merry-men, better known as... Read More
We all go to school for about twelve years, kindergarten... Read More
Many people assume that the offshore world is accessible only... Read More
Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More
Turn to the year 1999, a couple of friends sitting... Read More
When young men ask me how to succeed, I tell... Read More
Wealth - an abundance of values. Each of us determines... Read More
"Any fool can rich, the wise get wealthy." Chris WidenerGetting... Read More
Feng shui coins can allow you, among other things, to... Read More
From tender age, we were exposed to myths about money... Read More
While you need to have a lot of positive-thought and... Read More
You've been thinking that your financial life could probably be... Read More
It all begins with a simple calculation.You are home on... Read More
The business of banking has changed dramatically over the last... Read More
Any successful person, or any anyone interested in self improvement... Read More
E-currency is very popular on the Internet today. People use... Read More
Top Investment PerformanceThroughout history, many coin collections have produced substantial... Read More
I have given many prosperity lectures over the years and,... Read More
We will start the Financial Fitness System with the assumption... Read More
Remember the bloodied face of Randall "Tex" Cobb?He was a... Read More
Financial planning at an early age may seem complicated, however... Read More
OK, this article will start with the cheapest piece of... Read More
Self-Made Millionaires are not smarter or better than you. They... Read More
The fact is that most people continue to work for... Read More
You have $100 in your bank account, your rent is... Read More
Many people have a false understanding of what it actually... Read More
Part of learning to become financially free is to begin... Read More
The business of banking has changed dramatically over the last... Read More
This article focuses on generating cash as a full time... Read More
You may think you have to be an entrepreneur to... Read More
There is no questioning that the amount of unclaimed money... Read More
A mole travels one road, according to the way nature... Read More
So you want to become wealthy? While there is no... Read More
When Building Wealth by Russ Whitney was released a few... Read More
As you sit in traffic, inching along between irate drivers,... Read More
Estimated Reading Time: 4 minutes -- Envision your life 10... Read More
Wealth Secret 1 - Decide Your Outcome Right Now.Unless you... Read More
Most people know it's important to keep and organize all... Read More
Look at Forbes' top 10 United States wealthiest people. Notice... Read More
"If you know how to spend less than you get,... Read More
It all begins with a simple calculation.You are home on... Read More
"Any fool can rich, the wise get wealthy." Chris WidenerGetting... Read More
We all go to school for about twelve years, kindergarten... Read More
While you need to have a lot of positive-thought and... Read More
This new way is catching on around the world. People... Read More
Masters degree not required...just a little common sense, a $5.00... Read More
There could not be a better time to mull over... Read More
Money is probably the most challenging thing for many people... Read More
Almost all of us go to work everyday and do... Read More
Would you like to profit from your own information empire?... Read More
In his best selling book, "Rich Dad, Poor Dad, Robert... Read More
Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More
"Join our program and retire in 3 months..." yeah, right.We... Read More
The four main steps in building a wealth cycle foundation... Read More
Uncle Sam and his band of merry-men, better known as... Read More
"My people are destroyed for lack of knowledge." Hosea 4:6... Read More
Wealth Building |