3 Reasons You Should Have Multiple Income Streams
One of the most debatable topics in the marketing industry is whether or not it’s important to have multiple streams of income. Some will say it’s distracting and that you can’t maintain focus if you’re giving attention to more than one thing. While others will swear by having multiple opportunities, or offers. I am going to GIVE you 3 reasons you should have multiple income streams. I want you to understand why it is extremely important to have this in your business!!
1) Getting Shut Down
This is one topic people don’t really like to discuss. If an opportunity or company gets shut down it impacts everyone involved. Not just the business owner themselves. I believe it’s important to surface this so people know that the “shut down” potential is there, and that their business may be in jeopardy if they don’t comply with the rules and regulations. When you have multiple streams of income you’re never dependent upon just one source of income, and multiples equal leverage when shut downs happen.
2) Reciprocal Info and Edifying Peers
Teaching the same info that you just learned, or adding it into YOUR mastermind or training is considered reciprocal info. Most people are afraid to “copy” others, or teach the same information online. Yet most mentors encourage this, especially if you’re just starting out. If you don’t know what to teach, teach what you were just taught. This practice will get you into the groove of edifying (doing what others are doing) your peers, putting into action the training you just absorbed, and quickly getting it back out to your own audience. It’s also a huge compliment to your mentor/teacher. I’ve been afraid of VERY few things in my life, teaching others information is not one of them.
3) Learning REAL Skill Sets
In order to absorb an in-depth understanding of what is being taught, one must apply the techniques. You should have, or plan to acquire, a true skill-set from within the training or coaching/mastermind you are part of. You might find a certain area you’re better at than other methods you’re using, or being taught. It’s a good place to focus some energy on, and become an expert at. Banking on a skill-set versus joining programs, coaching or masterminds just to make money, puts you in independent control of your income.
#2 plus #3 when you HAVE the actual raw skill sets it takes you are not dependent upon others to teach your students.