Increase the depth and breadth of your income -18

To develop depth your goal is to earn more income from each of your
current sources. You can develop expertise or get training for your job
or profession that entitles you to better pay.

Increase the depth of your passive income by finding higher interest
paying investments or raising the rent on your rental properties. Move
your mutual funds or non-dividend paying stocks to those that pay
dividends.

Increase the breadth of your income
For breadth, seek out multiple streams of income to increase the
number of sources of repayment. You can develop enough expertise in a
field to become a highly paid employee or consultant, or use that
expertise to write a book, create an information product or conduct
seminars.

Develop and diversify new classes of income producing assets. Consider
dividend paying stocks, bonds or real estate.

For a business loan, lenders determine capacity by looking not only to
the business’s financial projections but also to your personal ability to
repay the loan if the business does not work out as planned. They will
want to know if you have other income (investments, a working spouse,
royalties, pensions, etc.) to help you repay the loan if necessary.

Lenders will want to know the answers to questions such as: if the
business fails, will you be able to return to your present or previous job?
Do you have other skills that could produce income? Be prepared to
provide solid answers to these questions and be able to offer real
evidence to support your answers.

To improve business capacity, increase the products and services that
your business provides. Look for turnkey systems that build off of what
your business already does. If you are a construction company,
consider hiring a certified home inspector in the business. If you own
rental real estate, install a coin operated laundry or vending machine.
With a retail shop, consider candy vending just inside the door, or a
mechanical ride by the entrance.