7 Business Models to Quickly Multiply your Income

If you have a job with a consistent monthly income or some substantial savings, and looking for ways to multiply it, then you're not alone.

I've often found myself in this kind of situation where I have significant money but lacking the right ideas to put it to good use.

Most of the time, I'll eventually end up reinvesting the money back into the business I sourced it from.

But then, when I think of it, not everyone has a business they could invest in. Heck, most people looking to multiply their income don't even know how to start a business.

And that's why I decided to write this post.

You see, nowadays, it's no longer enough to have a job or a paid employment. You must either find ways to create multiple income sources or multiply your income.

Income multiplication can be done either actively or passively, but it is important to put money in assets, ventures or investments that are sustainable.

In this post, we'll look at a few business models that anyone can leverage in multiplying their income. I'm more inclined to passive business models, so many of the suggested business models would be passive.

I'm assuming that people who earn a consistent monthly income and looking for ways to multiply that income would fall in the category of either employed or self-employed.

These people would more likely be too busy at their day job or business to bother about managing a side hustle or investment portfolio.

So, here are some passive business models to consider if you fall in this category.

Invest in Passive Income Assets with Guarantees

The easiest ways to multiply your income is to invest in passive income instrument with guarantees.

This usually means investing via the bank in savings, fixed deposits and FX.

The goal is to invest where you can get a periodic guaranteed and consistent return. Some instruments are designed in a way that ROIs can usually be automatically reinvested into the portfolio to grow your holdings.

Join a Cooperative Investment

Cooperative investments are underrated as an avenue to multiply income.

The most important thing about cooperative investment is that investors can pool substantial funds to make large scale investments.

Many of the banks in Nigeria today were started via cooperatives that later metamorphosed into mergers worth billions.

Buy and Hold Physical Appreciating Assets

This is one of the oldest ways to multiply your income.

Infact, it was considered smart back in the days to buy and hold physical assets such as jewelries and precious metals, so much that people still indulge in that practice today.

Physical appreciating assets could be in the form of lands, vintage cars, antique furniture, rare fashion, etc.

Invest in Emerging Financial Trends

This is probably the riskiest way to multiply your income, but it often comes with a greater reward.

Financial trends come and go, but they leave trails of fortune by those who are brave enough to take the risk.

For example, cryptocurrency has made more millionaires than any other financial asset class in the past decade, with over 170 thousand crypto millionaires made so far.

So, if you're risk-tolerant and looking for ways to multiply your income, you should be looking out for the latest financial trends to put your money to work.

Start a Joint Venture as a Passive Partner

If you prefer to own a business rather than investing in a portfolio, then starting a joint venture can be a viable alternative to making a cooperative investment.

With a joint venture, you can choose to either be hands-on or passive, depending on how much time you have to contribute to the business.

The most important thing is that you are sharing risk with the aim of growing your money.

Joint ventures have proven to be easier to run and have more probability for success due to diverse input of ideas and resources.

Invest in Rental Assets

The world right now is powered by the rental economy.

Everything is now available for rent. Homes, cars, equipment, even pets!

So, what better way to multiply your income than to invest in assets that are rentable. Al you have to do is purchase the asset and put it up for rent.

Renting is probably the easiest passive income business you can start today. You can be making money while still owning the asset 100%.

Invest with a Hedge Fund

Just like the bank, you can invest in a hedge fund and put your money to work towards financial security.

Unlike the banks, hedge funds provide more diverse options for investing your money, but that also means more exposure to risk.

If you're looking to take a little bit of risk in exchange for higher ROIs, then a hedge fund could be the ideal place to invest.

FAQs on Multiplying your Income

Can you Multiply your Income without Risk?

It is possible to multiply your income without risk, but that would depend on the type of business or investment that you are putting your money into.

In order to minimize risk, you can invest in portfolios that offer guarantee of ROI or invest in a joint venture where you have some form of control.