EP 30: How to Create Multiple Streams of Revenue (+ What to AVOID!)
Being an entrepreneur and supporting yourself with your own business can mean that your income can fluctuate a LOT from one month to the next—and that can be scary and stressful, making it NO FUN to “be your own boss.”
BUT! There are things that you can do to create a stable cash flow month over month so you can work less and earn more.
You can diversify your income and develop multiple streams of revenue to really stabilize things. This also ensures that you’re earning a consistent amount of money every month and ultimately getting rid of the stress and enjoying the process of actually running your business a whole lot more.
However, there are some traps you can fall into as you try to create multiple streams of income. These mistakes can prevent you from successfully developing your multiple streams, keeping your business small, and ultimately wasting a lot of your time—and, in some cases, you might end up working MORE and earning LESS which is not what we want!
Listen to the full episode to hear:
- Types of income vs revenue streams
- A simple, step-by-step process you can follow to start developing multiple streams of revenue
- Big mistakes to AVOID so you don’t waste your time on efforts that won’t pay off
- Best revenue streams for people who are just getting started