Conquer Your Business

Multiple Streams of Income

5 ways to create multiple streams of income within your business!

Multiple Streams of Income

Multiple Streams of Income

We hear this advice a lot these days: In order to grow wealth, it's important to have multiple streams of income.

I will tell you as someone who teaches marketing, I often cringe when I hear that advice. But why? Why would I be against that? 

It’s because most of the time when an entrepreneur starts talking about wanting multiple streams of income, they mean they want to have multiple businesses. And all too often, making it even more difficult, those businesses have nothing to do with each other. 

Now it’s one thing if you have truly stepped into the role of CEO and have business building completed dialed in…as well as a team to do the work. Then go for it!

But for most solopreneurs and entrepreneurs who are the face of their business, talking about multiple different businesses that you are simultaneously growing usually just results in confusion in the marketplace. And then nobody understands what it is that you do. Which means that it becomes very difficult to get clients. You don’t get any traction and you end up with less money instead of more money.

So what are some versions of multiple streams of income that I do agree with?

Well, if it’s your personal portfolio where you might have rental properties and investment accounts and earned income, that’s a version of multiple streams of income I can totally get behind!

Here’s another version of multiple streams of income that I’m a big fan of: multiple streams of income you can create within the one business you’re working to grow.

Your own business is the greatest money making asset you can have. So rather than confuse the marketplace, check out this guide for creating multiple streams of income within your business.

Download our FREE guide: 5 Ways to Create Multiple Streams of Income WITHIN Your Business