Did you know that the average millionaire has seven streams of income? What is up with that number, right! When I was building out my business and my multiple streams of income, it was my mindset that got me where I wanted to be.
Let’s dive into why the average millionaire has that many income streams and how to alter your mindset to get there.
The Up’s and Down’s
If I really look back to my turning point, it was when I finally put my head down long enough to get traction and figure out what I was doing. But it wasn’t until I had my network marketing income coming in that I started doing workshops and introducing the boot camps, which is when I hit 6 figures. It was like this magic formula of the three things coming in at once. Ever since then, I’ve been so passionate about it. There are ups and downs when you are in network marketing, but that can be in any industry. So if you’re in real estate, for example, you’re going to have times when you don’t have a sale, but having multiple streams of income can get you through the ups and downs.
Almost my entire team has multiple streams of income. I’m very open about them because I want to teach you how to build a sustainable business. I want to teach you how to build financial freedom. I don’t want you to feel like you just have to do our network marketing company and never do anything else. There’s such a stigma around network marketing of how that is the only thing you can do. I think that’s why people leave, quit, or go to another company.
We can’t put people in boxes that make them feel bad for wanting to do other things. I used to get in trouble all the time because I wanted to do multiple things. That’s why I’m with the company I’m with now. I’ve been with them for a couple of years, and I’ll be with them forever because I got in trouble with compliance once.
Consider Your Options
Let’s say you bring someone onto your team, they’re having some initial success because of the newbie bonuses, and they’re excited. They’re telling their warm market that they are doing pretty well. But then maybe the next paycheck’s not so great. Well, if we can teach people to have multiple streams of income and how to utilize those streams, then you have money coming in from all areas. You can have money coming from your network marketing, direct sales, affiliate work, etc.
If you feel network marketing isn’t working for you and you feel like you are pushing a boulder up a hill, this is the time to figure out what is going on. Let’s get some systems in place that duplicate right as I teach. But why don’t you consider another stream of income? If you have built this huge team, why don’t you teach others how you did that. People will pay good money to learn how to earn money, for real.
Scale Your Business
Multiple streams of income work because we’re leveraging our time and our money. If you have a coaching business going on and you are spending your time group coaching, and one-on-one coaching, you’re not leveraging your time. You can only take on so many people. Now, if you decide to train and certify other coaches under you to let them coach within your program, that is a different story. Having people work with one of your coaches, you make revenue and pay out the coaches. Now you’re scaling! Now you’re leveraging your time! It’s the same concept.
Each of these streams of income, such as courses, will be evergreen. Once you create it, you can sell it forever. I have an Instagram course from 2019 and that is our number one selling course. We periodically update it when new features come out, such as reels, but all the content is still relevant.
Social Proof
When you think about those that are successful around you, I want you to do some homework for me. I want you to pick three people on social media that you look up to and/or they have the kind of life you want. Poke around on their social profiles or maybe on their website to see if you can figure out how many streams of income they have. I bet if they truly are successful, they have multiple streams going.
Remember that there are people who are successful right around you wanting to teach you how they created the wealth in their life. I just happened to be one of those people. I’m somebody who struggled and had a life of poverty. I never knew nice. Not until I actually got into Cutco Cutlery, and it changed my life. It’s like personal development on steroids, but I worked really hard at it and realized it could pay for college at a private university.
Mind Over Matter
It wasn’t until I got around that in my early twenties when I realized that there was this whole other world of wealth. It took me over a decade to work through all the programming that growing up in poverty put me through. But when you are around people who grew up in poverty, and they achieved wealth, abundance, and health, it contributes to your mindset. You will see why they’re so passionate, and I’m one of those people. I want you to have the money that you need to have, to not hesitate when your child asks if they can go to this camp or if your husband wants to invest in something, to have wealth when someone needs something and not even flinch. That’s what I’m absolutely committed to doing. This teaching comes from my heart, and I just know that you can do it.
I want you just to keep going, not give up, and be coachable. Learn from those around you because I know I wish I would have done this. Go get lit in your business and set your soul on fire.
Time to start living the life you want, Goal Diggers!
If you want to check out this blog in audio format, listen to the latest Goal Digger Girl Podcast episode!
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