Ep 19: The Truth Behind Multiple Streams of Income
Have you ever wanted to know the secret behind the people you see with businesses that are bringing in money in every single direction?
Most people have trouble holding on to one stream of income, let alone create multiple different revenue streams.
Chances are you are reading this and you have a job. We want you to know there is absolutely nothing wrong with having a job. The only thing we don’t want you to have is a job you hate, with no exit strategy. You may already have a business, or you may be looking to start an online business. Where ever you are in your journey to financial freedom it’s important that you understand the core principle from today’s message. In order to create incomes from multiple different sources, it means shifting all of your focus to ONE MAIN thing!
Seems odd right? If you want to make money in multiple places, focus all your energy on ONE place. Let us explain this so you can apply it in your life and business.
But, before we dive into what sets apart those that understand what it takes to create multiple streams of income, and those who don’t, let’s start with our language. The truth is, most people don’t understand the phrase multiple streams of income. Especially, your average person who isn’t up to speed with entrepreneurship, personal develop, social media influencers, etc. So, first piece of advice, do yourself a huge favor a use words and phrases your audience will understand. The last thing you ever want to do is use lingo that your audience can’t understand.
Remember, if you confuse you lose!
Instead break it down into something they can understand. “How cool would it be if you could make extra money, without having to get a second job”
Its important to know, when you hear things like “millionaires have seven different income streams” that you don’t need to be doing seven different things. Especially things that don’t align with each, and now you’re doing a bunch of random stuff. If you have a job, thats a linear income stream. It doesn't have much depth, if any. Meaning you trading your time is the only way to create income. The goal of this episode is to help you create vertical sources of income that grow with our without you.
“Okay” at Everything Means Master of Nothing
For some odd reason being a “jack of all trades” has become some sort of badge of honor among entrepreneurs. Being the person that can do everything for everyone will get you nowhere fast. Ask yourself, what do you want to master? What do you want to be known for if you could only pick one thing. Is it ok to be good at multiple things? Of course it is. But remember the riches are in the niches. Do one thing really well, for one audience and you will be rewarded for it.
The One Thing Rule:
As an entrepreneur you want to have your main thing/offer and make that the ONE THING you knock out. If thats a network marketing business, or course, training, etc. Have one main offer. For Daymon John, founder of the clothing brand Fubu. He made that his ONE THING. Because he put all his focus there, thats the reason he has a spot on the show Shark Tank. He now often ends of taking most deals in the clothing industry. Because of the exposure and testimonials from helping and investing in other clothing brands he has exploded his brand online as an influencer and in addition to his Book deal, does speaking and training courses. Most people see everything, and don't see the ONE thing that started the flood.
For us in our career as online entrepreneurs, it was because of our network marketing business, that led to our income as affiliate marketers, coaches, course creators and membership owners. But trust us when we say, we made our mistakes too. We thought that a certain stream of income was strong enough, when it wasn't strong enough to take away focus. We didn’t make certain streams strong enough before focusing on the next thing and everything suffered a result. We fixed it by honing in our focus to ONE thing and thats how you get back on track!
Finish The Drill
Most people start things and just never seen to finish them. Finish something you started.It’s ok to say no to things. You don’t have to do everything. Focus on one thingThe rich focus on one thing. That’s
Just Say No
As an entrepreneur, saying “no” is a skill most have not quite developed. Sometimes we feel like just because something is a good opportunity that means we have to take it. The truth is your ability to say “no” is part of your test. We have things presented to us each day, many are amazing and we would likely make good money with. We analyze it, and even though it looks great, most of the time it doesn't line up with our overall vision. We are reminded just because you can do something doesn't mean its right or the right timing. Focus on one thing, and remember that its ok to say no. After that, be happy for them and wish
Creating new audiences is the key to your success. Creating the first audience and getting success in one venture, will lead to more exposure from that one thing and will often create success much easier for the next thing, and the next! Create your cycle by crushing what you're in now and if you need help, connect with us. We will help you build your business faster.
The core message is here is go make money in one thing. In our career we chose to make money in a network marketing business. Because we did that, it created the audience
We want ILC to be your go to resource for you succeeding as a digital entrepreneur! So be sure to stay plugged in, stay connected, and let us know how we can help you in YOUR business and life. Don't be shy. Comment below, email us, comment on YouTube, FB or IG. We will ALWAYS get back to you and get you moving in the right direction!
We believe that you can create passive income online to create the lifestyle of your dreams, never give up, never settle, be intentional, and always create! You're always one choice away from a completely new lifestyle!
📝 Show Notes and Resources Mentioned in Today's Episode:
💻 – Mentioned Resources:
📘 – Books We Suggest:
Thanks again for tuning in to today's episode!
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