Scripture to Memorize
She makes linen garments and sells them,
and supplies the merchants with sashes.
She is clothed with strength and dignity;
she can laugh at the days to come.
Proverbs 31:24–25
Passage to Read
She considers a field and buys it;
out of her earnings she plants a vineyard.
She sets about her work vigorously;
her arms are strong for her tasks.
She sees that her trading is profitable,
and her lamp does not go out at night.
In her hand she holds the distaff
and grasps the spindle with her fingers. . . .
She makes linen garments and sells them,
and supplies the merchants with sashes.
Proverbs 31:16–19, 24
Guided Prayer
Dear heavenly Father, I marvel at the accomplishments of your ideal woman. Sometimes I’m also a bit intimidated. I’m not sure I could manage all the various enterprises that she did. Thank you for reminding me, even now, that I don’t have to compare myself to anyone else—not even the Proverbs 31 woman. Lord, I know you said you’ve included all of these examples throughout the Bible as an encouragement, not to make me feel bad about myself. I know I don’t have to do everything all at once, but I can do something at once. So show me today and in the coming days what you would have me do to become a smarter businesswoman. Remind me that I have the mind of Christ and I can do all things through Christ who strengthens me. I can invest in real estate; I can work hard and turn a profit in my own home business enterprise; I do have creative gifts that people might very well be willing to pay me for. Lord, show me the talents you’ve placed within me. I don’t want to keep them hidden. I want to recognize the financial potential in each of my gifts and use them for the benefit of my family and your kingdom. I’m excited about the adventure ahead. Lead on. Amen.
Personal
Every once in a while, you read a book that changes your viewpoint entirely. For me one such book was Robert Allen’s Multiple Streams of Income. (He has similar material in a more recent book, The One Minute Millionaire.)3 In it, he points out the foolishness of relying on a paycheck, or even a single income source, to provide current financial security and a solid foundation for your retirement years.
Of course the Proverbs 31 woman had multiple streams of income long before Mr. Allen wrote his book. She operated various manufacturing and direct-selling enterprises: “She makes linen garments and sells them, and supplies the merchants with sashes.” She invested in real estate: “She considers a field and buys it.” What’s even more significant is that she reinvested the profits into yet another income-generating business: “Out of her earnings she plants a vineyard.”
Rather than expanding her manufacturing business or simply reinvesting everything into real estate, she diversified her income streams. If we are wise, we will do the same. Here are some possible ways to develop multiple streams of income:
The key to financial success is moving from employment or even self-employment to business ownership and investment. Business owners and investors are not limited to earning money only when they are working. Instead, they enjoy passive and residual income. In other words, they earn money while they sleep, either because other people are busy working for them or because they’ve put their money to work for them. Do you remember that I mentioned discovering the major pitfall of operating a one-woman marketing communications firm: no residual income?
The wise woman develops multiple streams of residual income by leveraging other people’s time and money and profiting from it. Here are the criteria for evaluating if a particular business is a wise investment:
Now you know how to evaluate the viability of any potential business.4
During Week 6, we explored two streams of income—interest and dividends from your automatic savings and investment. (You did set those up, right?) For the remainder of this week, we’ll explore the remaining options.
Affirmation: I see that my trading is profitable.
Begin to investigate the option of developing multiple streams of income.