Do You Have A ‘Multiple Streams Of Income’ Mindset?

Multiple Streams Of Income

I expect you are aware of the fact that – you have to focus on one thing until it becomes something great, right?

Sure, but once you have mastered an area and been able to deliver something amazing from it in order to build a great income, you can then focus on other streams of income.

In a world where there are no certainties either I believe that we really need to learn how to create multiple streams of income in order to survive these days.

 

 

 

Now, you might be thinking “well, one stream would be amazing right now even!” Sure, I get that, and that’s why it is important to be able to find your niche and become a master of it.

And that’s why you need to be able to work hard to dominate and beat others in a specific area if possible in order to create your market share.

Once you grow your brand and identity in the marketplace you can then add other streams.

For the case of this post I will assume that you already know an area or work in an area where you earn something.  it might even be that you have a job or career which you earn from, and even if that isn’t an ideal area for you now, you have that and it sustains you.  Great!

Don’t walk away from something, rather, look to invest a small amount in business growth in a particular area.  So, you can start to grow what you now have even – if that means you need to diversify into something completely different.

 

I don’t just mean online either. If you know of ways in which you can earn offline then also consider this.  The point is that we can work on something and grow it regardless of whether we are in full time employment or not.

 

I will give you an example; I have so far earned in these areas, eBay and dropshipping, ebooks, affiliate marketing, coaching, courses, recommending others for a % of commissions, Editing books and content, and cleaning businesses up so they are more productive, network marketing and in mentoring (which is slightly different to coaching).

NOTE: I didn’t just simply try all of those things at the same time and then say NONE OF IT WORKS!

I mastered one area, started to scale that up, invested into it and then moved on.  The idea is to discover those things first of all that WE CAN DO best.

Strengths, skills, talents, passions, experiences and interests and then focus in on one of them.

So, why not take a pen and piece of paper now and start making a list of some areas you could be passionate about working in.

From that list you will see which ones may be easier or cheaper to start off, as some business models can be relatively easy to start and quite low costs also.  Meaning that – little investment is required from you.

So, you can look at what might be easier for you start now on the side perhaps and gather ideas as to what you may need to help you out.

An example of an easy to start business would be – Service providing. I know that this is an area which is low cost but can also create a great revenue.  As a service provider you need very little start up costs, you just need an internet connection, and an ability to stand out from others in order to maximise your exposure and growth.  You need to be able to essentially aim to be the best in your market or niche, and attract the right fans, followers, target customers and of course revenue.

Having worked in various sectors over the last 25 years I have been in many business types and structures, and what I found was that being a Coach or advisor, as an expert is by far the best way for me as I can add to my revenue by adding products and services to it.

Once you can master one 

stream you can then expand.

Do You Have A ‘Multiple Streams Of Income’ Mindset?

For example – I charge £2000 for my premium Coaching package where I help new business owners grow and start right and there are many components to this but I just wanted to illustrate some prices I charge for now.   I work deeply and personally with few people in order to get better results, so I only work with 1 person per week.  This adds up to £8000 per month.  Then I have my Self Study Course Passion to Profits start up course. Which is just £29.70.

I also make around £1000 on average per month from this now and I also offer affiliate products here at my blog, and share other experts sites to earn commissions.

Then i trade on forex, I sell ebooks, offer mindset coaching and create my own art work.  I paint and each piece goes for around £300-400. My total per month is around £12k and with this I save some of it, invest some and live on some.

I am an entrepreneur so I am always looking at ideas and looking for ideas. 

I invest into other businesses and ideas with inventors, marketers, speakers and authors and look to see where I can add revenue to help and then take a % of the revenue.

So, my income is always growing up and I am always measuring the effectiveness of each area.  So I can then scale any area and add or remove whichever ones don’t perform so well.

Something I love to do is work with others ideas and I even wrote a book about it:

So, if you need help with defining your idea I will send you a copy when we create a strategy and plan.   Simply contact me @ www.GregDeTisi.com to book in your FREE strategy session. 

So, what are/s can you look at?

Can you look at what you might charge for each of these areas?

Will you charge per hour or for a project or package?

I can personally help you with a plan for creating this if you need it of course @ www.GregDeTisi.com

Advice

This is what I do and help others who work at home to do also:

1. Ensure you have a good work space without distractions.
2. Know your goals and vision and maintain it
3. Work on the most important tasks and outsource your weak areas
4. Finish what you start. Don’t just flirt with one thing and move on – Vitally important
5. Get the right tools for the job period.  Don’t cut corners or costs
6. Invest in yourself and your own skills – become the best you can be
7. Lead your day – take control and master your mind
8. Ignore less important messages and deal with needy people quickly otherwise it can ruin momentum
9. Communicate effectively in all the you do

Personally I will do my in-depth research and look at what others are charging and see what a competitive amount would be.  I will look at the various of the business model – and I will look at how it is structured and look at where I can stand out from others.

How about you?

What could your unique angle be in what you choose to do?

My suggestion would be to see how you can bring a different angle.

For example – i recently watched a program where a bagel seller in New York made his bagels very colourful and like works of art.  His gimmick based idea got him attention on Instagram and his business went viral. He has a business where global travellers come to see him and buy his bagels.  It is self marketing now as so many people share his business.

He also created a yellow coloured bagel just for a property owner who called his AirBnB apartments the Yellow Brick Buildings.  So, this meant that the AirBnB guy got more business and became more well known and his earnings per month gross went from $14000 to $29,000 in only 6 months of having more exposure.  And the bagel guy got free marketing from the famous Yellow Brick Apartments business.

You see how they both helped each other? 

So, you and I can also leverage others businesses to help ours.  And vise versa.

So – what can start to putting an hour a day towards in an area?

Another example i once used to raise capital was – I started editing others books using a site called Fiverr. So, I was a freelancer, and it cost me $0 in money to start this, but it did cost me in time investment to build a brand there and position myself as the expert there.   I put time into it and took some exams in order to be the best I could be and I started to attract Gigs.

As I built that income I placed  it into My Coaching certificates so I could become a Life and Business Coach.  Once I had invested in this I then had two incomes as I built my Coaching brand.

I wrote the books and courses which created further streams and positioned me as the expert.

And from there once positioned as an expert I added affiliate products and services to my site.

Do You Have A ‘Multiple Streams Of Income’ Mindset?

Today I have several streams of income from various sources, but these will change at times, so here’s the thing and why I suggest having more than one:  One of these may be gone tomorrow, and so, I cannot afford to rely on just one.  Make sense?

IMPORTANT:  I want to reiterate that any of these could be gone tomorrow, and that’s why I do not rely solely on one, as we are in a time when things change RAPIDLY.  So, take note.

That’s why it pays to invest in other more stable areas also such as property.  Whilst nothing is guaranteed in life or business, we can take more calculated risks rather than aimless random ones.

So, of course, lower risk where you can.

The more revenue you and I have – the more we can invest back into creating more.

The rich mentality.

Some thin of the rich as greedy, selfish and corrupt, and whilst a lot of people are on Earth, this doesn’t mean that you or I have to be, so we have to see that capital per say is not a bad thing.   What we need to see is that ‘if’ we are of value, and can grow ourselves then we may help others to grow.  We can make a bigger difference in our communities and societies, so – we are assets and thus, this is a good thing.

I will also have cash reserves, meaning that I have a reserve of money in case of unexpected expenses, this also means that it won’t affect my personal revenue.  So, I need to keep business and personal accounts separate which reduces the risks involved.   If we just spend aimlessly what we make we will put ourselves into more risky situations.  My advice is DON’T DO IT!  Be smart about it.

FROM IDEAS TO START UPS : From Experience To Becoming An Expert

We all can draw from our experiences and develop from these and our skills.  I have been studying the Stanford Startup training’s from the worlds most successful startup companies and many of them have had several years of training in order to understand the fundamentals of starting right.  I highly recommend studying this training if you are passionate about starting a startup particularly in the tech industry.

Certainly the City where I live Bristol in the UK is one of the most popular areas for startups outside of London so, there are many young and dynamic minded types here all keen to make their mark and grow their ideas.

CLICK HERE TO TAKE A LOOK AT THE ACADEMY OF ENTREPRENEURS 

who can help you with your idea.

E-Commerce:

With E-commerce you can create an income  even before you have a website or blog! How?

You can learn to use E-Bay to start with and sell what’s around your home.

it is said that most of us have around £3k worth of junk, so get rid of it.

When you get better at selling you can begin selling products for others with areas such as drop shipping – and this is where you would find the right suppliers for goods that you want sent out for you.

Dropshipping means others buy from you and the products are sent by the suppliers, so you don;t have to store anything in your home which is different to buying products wholesale and selling them yourself.

This is how it works: You would attract the right types to your store who buy through your website – and when they order the goods YOU will get a % of the commission – and the supplier will get some money also.

This is a great way to begin your online career when just starting out or when you need to start growing your revenue.

But, a word of warning; don’t just see millions of opportunities and try them all halfheartedly.
I would suggest that it is worth getting good at one WORTHY SKILL and then moving onto another remember?   Once that one area is working for you then focus your time and energy into the next thing.

As I said before – there are no guarantees at all especially online – so, master one then move on. 

Another tip is that – it is wise to think outside the box and to do it right – THEN YOU BECOME MORE VALUABLE IN THE MARKETPLACE.  So, I have my coaching brand, and I made it valuable, from there I added more to it. 

NOTE:  PERSONALLY I WOULD AVOID OPPORTUNITIES ONLINE AND BECOME ONE!

There are many out there promising to change your life and business, but much of it is utter crap!

There are a few who are legitimate, and I have shared them in this blog in the online tools section, so I vet them beforehand.  But if you do have any questions about this message me at the contact form.

I would also suggest that you build a list from the beginning.

NO LIST, NO FUTURE:

Without a list there is not really a business, because when things come and go at least you will have loyal subscribers who are committed to you and so IF or WHEN you change your products or services they will still buy from you.  Make sense?

So, build a list as soon as you can and if you don’t know where to begin i wrote this post for you.

CLICK HERE TO LEARN HOW TO BUILD A SOLID LIST

Multiple Streams Of Income

Do You Have A ‘Multiple Streams Of Income’ Mindset?

Work hard

There is no escaping that hard work will need to be done.

Obvious as it may seem, many think that working at home or from home means the easy life. It certainly isn’t that way for me. It might be for some, but not for me.   I work harder than I did in any job role as its simply down to me to earn, so it forces me to stay on top of my routine.

My advice would be – be prepared to face challenges, unexpected setbacks and obstacles and be prepared to have a mentality of an entrepreneur rather than that of an employee.    With a an employee mentality you will think that you can simply log off at 5pm and take long breaks, but this may become your greatest downfall.

Yes, i believe we all need breaks, but our business has to be treated as OUR BUSINESS, not as just something which we can casually work on or not when we feel like it.

Anyone who wants to build AN INCOME online and is not prepared to work at it will never get anywhere -and that’s just the way it is.  People who just say ‘I JUST WANT TO EARN’ are missing the point big time as it’s just not as easy as that.

So, get the head right and build that list as you will never create a sustainable business otherwise.

PASSIVE, AUTOMATED CONSTANT INCOME:

IS THIS POSSIBLE?

IS IT REALLY REAL?

YES! But, it is again not just an easy thing. 

We can automate most things, and with courses, memberships and subscriptions, this is a great way to create a consistent monthly income.  So, we can use our training and our value to place into courses which we can launch and sell and can sell for us for many years without much after work. 

HERE IS MY $10k per month passion to Profits Course where I teach students how to build the revenue streams in various areas.

So you will see at this course when you scroll to the bottom what’s included and how you might wish to do something similar in your niche/area.

I also enable students to try it for free first of all.

For me , this is not about ‘ONE off sales’ every now and again, this is about having a constant stream of income – WHETHER YOU DO NOTHING OR SOMETHING.  THIS TAKES TIME like anything else WORTHY, so we need to learn and master the SKILLS, gain the knowledge and this way you will be rewarded.

You have to run it like a REAL business not a game and SPEND REAL TIME WITH IT.

In order to be a well respected expert with a great brand and a foundation for global trading YOU HAVE TO DO IT RIGHT. I don’t know what type of venture you are in right now or wish to be in, BUT – you must find the right tools and even hire a great teacher to help you in order to not waste 5 years trying yourself.

NOTE: I have seen this all before and I cannot recommend trying it alone at all.

I believe we have to be:

> COACHABLE = Learn from others who have been there & be able to absorb right strategies

> ACTION ORIENTATED = Consistent and never ending application to test, tweak and build

> FOCUSED = Aiming in the right areas and not getting distracted with every other thing

> DRIVEN = Have a reason to do it and to be motivated enough to be ambitious about it
> HAVE SELF BELIEF = Without this we will struggle as we will doubt & this will impact on us
> ARE DETERMINED = Have a strength of will to never give up when the going gets tough
> ARE OPEN MINDED = An ability to explore options and not get too stuck in your ways
> ARE PREPARED FOR FAILURES = This will happen big & small but we have to keep moving

 

Then you do have what it takes to make it! HOW DO I KNOW?

Because that’s what I have been through and just about every other entrepreneur has been through.

I am not particularly technical either – so if I can do it then so can you!

Success comes from the right attitude. and a WILLINGNESS TO DO WHATEVER IT TAKES.

Do You Have A ‘Multiple Streams Of Income’ Mindset?

Multiple Streams Of Income possibilities:

I said that you will want to learn a variety of forms of wealth generating strategies and I believe it is worth doing so both ONLINE AND OFFLINE.  Even when you have a GREAT BRAND ONLINE and you are great at making money you may wish to diversify.  Working online is amazing and this is a very powerful age where we can sell information, ideas, advice and more to make a great income – but I always see what else there is.

Know your initial income goal and be sure you know your numbers so you can measure progress using either a simple spreadsheet or a more sophisticated tool.  There are many tools today which can help us, or we can hire others to keep our books and manage this depending on what is required.

Personally – I always manage my own because I learned to and I kept costs as low as possible.  This stuck.

So – you may prefer to keep things small and manageable, or you may wish to expand your empire, either way this will form a part of your plan and strategy.

May I Advice:

1) Understand Where You Are Coming From KNOW YOUR NICHE AND WHAT YOUR CORE SKILL/STRENGTHS TO WORK WITH IS FIRST OF ALL!
2) MASTER this area and then the best ways to express it in a role suited to you
3) Build on this and expand your products and servcies and gain recognition
4) Re-invest some into other investments ( i.e Other Online businesses, Buying homes and renting them, buying shares!)
5) Focus on one thing until you are awesome at it and ‘then move on to the next relevant thing’
6) Don’t lose sight of WHY you want to live this way. It has to be more than money alone.
7) Write down all your ideas and be playful.  Then start to define core areas and study others
8) START BUILDING YOUR LIST NOW. Start by GIVING AWAY FREE GIFTS.

Multiple streams of income

My suggestion is get started NOW as the world is fairly uncertain right now, and nothing is ever really guaranteed either, so it will be in your best interest to start a plan.

There Is Wealth Everywhere:

Once you see the bigger picture you won’t just LIMIT YOURSELF to one area.  When you master something you will also gain confidence and skills to try more – and this will create more opportunities for you. Increase is the answer always.  And creating Multiple streams of income requires an ability to see where there are problems or needs which you can SOLVE.   Sol be the primary solution.

Master your daily tasks:

Know what you are doing every day to create a return on your investments. This means daily, weekly, monthly and quarterly goals, and yearly and more.  Monitor your PERFORMANCE so that you can READJUST and keep moving.  If you don’t monitor what you do every day and see what’s working versus what isn’t you will become delusional and lose sight of what you are doing.

BEING REALISTIC:

Never expect wealth overnight, this takes time and the right specific, strategic and constant effort to start seeing growth.   Start a Plan now.  While plans will vary as much as businesses do, here’s a summary of the seven main sections of a business plan and what each should include.

By the way – It doesn’t have to be super sophisticated either, it just has to be a plan whereby you can apply each element as you would in any business and thoroughly explore all aspects of the plan.  Deep research and understanding of these things;

1. Executive Summary: An executive summary (or management summary) is a short document or section of a document produced for business purposes. It summarizes a longer report or proposal or a group of related reports in such a way that readers can rapidly become acquainted with a large body of material without having to read it all.
2. Company Description: The company description section of your business plan is typically the second section, coming after the executive summary.  The company description outlines vital details about your company, such as where you are located, how large the company is, what you do, and what you hope to accomplish.
3. Products and Services: A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals.
4. Market analysis: A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses, the strengths, weaknesses, opportunities and threats of a company can be identified.
5. Strategy and Implementation:  This is the process by which an organisation translates its chosen strategy into action plans and activities, which will steer the organisation in the direction set out in the strategy and enable the organisation to achieve its strategic objectives.
6. Organization and Management Team: This is the process of leading a company and effectively using or controlling its assets and resources.  
7. Financial plan and projections: Short and medium term financial projections are a required part of your business plan if you want to create serious attention from investors. The financial section of your business plan should include a sales forecast, expenses budget, cash flow statement, balance sheet, and a profit and loss statement.

YOU CAN ALSO download your BUSINESS TEMPLATE HERE 

My best advice is to start right.  

Define the idea and connect to market need or demand and master the craft

Explore this and do research into others doing this already become better and stand out

Create the brand so you have a unique edge and message

Work our your income goal and all costs using right tools and create projected growth

Look to hire others and get the right business model for your working style

It is more about what you do every day and YOUR PERFORMANCE THAN it is about anything else.

IF YOU ARE A GREAT LEADER and a GOOD STUDENT OF LEARNING and application you WILL be able to start to hitting YOUR WEALTH GOALS faster.  But don’t become complacent either, as this means you get casual and lazy and this causes mistakes to occur more often.  That’s why you need a plan to keep you accountable and aware of what’s going on and what’s needed.

So, make sure that you manage yourself and your time very productively.

GET HELP WHERE YOU ARE WEAK. You will probably have to get help in some areas – but that is expected so you can maintain effectiveness and productivity in your chosen role.

Multiple Streams Of Income Truth:

THERE IS NO MAGIC PILL FOR THIS! 

Imagine that you are back at University as you will need this kind of mindset to build a great empire.

Most people go wrong as they KEEP TRYING MANY WAYS TO MAKE MONEY BUT THEY FAIL as they are not building on one thing thoroughly and on THEMSELVES. There are formulas and principles n everything – so it is your job to master these and to work with the right strategies required to reap the rewards. 

THERE ARE MANY WAYS that you can create for Multiple Streams Of income online once you have more knowledge once you have mastered one:

1) EBooks 2) Webinars 3) Home Study Courses 4) Software 5) Seminars 6) Tutorials 7) Workshops 8) Contributing towards Virtual University Training programs 9) Coaching Meet Ups 10) Affiliate Programs 11) Paid Newsletters 12) Coaching Programs 13) Interviews 14)Podcasts 15) ECourses 16) Audios, Videos 17) Social Media Groups 18) Mastermind Groups 19) Freelance Work 20) Public Speaking 21) Writing in various forms 22) Membership Sites 23) Resale Rights Products 24) Reviews and write ups 25) Case Studies 26) 1on1 V.I.P programs With you 27) Drop shipping 28) Retreats 29) Stock / Forex Trading 30) E-Bay 31) Amazon 32) Mentoring 33) Content creation and editing and more.

TOO MANY PEOPLE MAKE IT VERY COMPLICATED AND IT ISN’T.

We are the ones who make life and business this way TOO OFTEN.  Life doesn’t have to be. So keep things simple, and stay ORGANIZED IN WHAT YOU DO – because when you are PASSIONATE about CREATING Multiple Streams Of Income you will do so in the right ways.

As always, I wish you the very best

Greg

P.S If you need recommendations of experts who can help you with areas such as WordPress blogs, PR, content, defining a niche or anything else I can help you, so simply contact me below.

1ON1 Small Business Coaching Free Session Here

Passion To Profits $10k pm Self Study Course Here

My Books Here

Do You Have A ‘Multiple Streams Of Income’ Mindset?

GregDeTisi

Author and Small Business Blogger at Greg De Tisi Writing and Small Business Blogging

Author of 26 books, a course creator and business blogger - Greg has been supporting clients from all backgrounds all over the globe for over 15 years in developing ideas and passions into sustainable Small Business Models. Greg now has more of a focus on supporting his local business community in Bristol UK.