For years I’ve bombarded my audience with the virtually self evident rationale supporting the pursuit of “Multiple Income Streams” (MIS).
Stated simply,
Multiple automated income streams = Security
Only one income stream = Risky
If we can all agree on that point, then you’ll likely enjoy the rest of this article.
First I’ll dispel the biggest misconception about building multiple income streams.
FACT: If done correctly, generating multiple income streams online leads to SECURITY & LIBERTY of time & finance – it never feels like CHAOS.
There are numerous examples of success with this concept within our growing online community of online biz builders. Many of these success stories can be found in my $5 “Silent Sales Machine” book.
One important discipline that all “multiple income stream” biz builders have in common is that they control their schedules and commitments. They aren’t controlled by their schedule and they don’t operate in panic mode.
A true “Multiple Income Stream” entrepreneur approaches life with a harmonious blend of flexibility, discipline and creativity.
How do you get there form here if you are currently a one income newbie?
- Start with a simple system that requires a part-time flexible effort. This is why we like to start our students out by teaching them to sell on Amazon or eBay.
- As you start to succeed, hire help to do the stuff you shouldn’t be doing (i.e. putting tape on shipping boxes).
- Create systems that others can take over. Only do what ONLY you can do.
- Work ON your business not IN your business.
- Stop being a control freak (aka being the only decision maker in your business).
- A SMALL success in online business inevitably leads to numerous other opportunities. If your eyes are open (instead of looking down at a tape gun while you ship boxes yourself), you’ll see these opportunities everywhere!
The opportunity that lies ahead if you dare go down this path:
- True schedule flexibility and financial security free from a “one stream” existence and the stress is causes.
- Freedom to launch new income streams while keeping an eye on the other streams.
- Partnership and growth opportunities like you’ve never imagined.
- You’ll OWN your businesses. They won’t own you.
- Imagine having a TEAM serving and delighting your customers instead of being a one man show!
What do you do all day once you have multiple streams?
- Focus on the big three: Creativity, Leadership and Relationships – everything else can be done by others.
- Looks for RIGHT ideas – not just “good” ideas, but RIGHT ideas.
- Fill in where needed – tape boxes if the box taper is sick!
- Find the weaknesses in your system and fix them.
- Make mistakes and grow.
Let’s chat about it!
Here’s a Facebook discussion on this topic:
https://www.facebook.com/groups/mysilentteam/permalink/742614069188039/
Or post a comment right here on my blog.
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