Part 1/5: Why You Need Multiple Sources Of Income . . .

Check out my 5 day live video series here, starting with this video on why you need multiple sources of income.

Multiple streams of income - we're going there today, we're talking about money! Having multiple streams of income is so important, because it puts you in a position to be prepared if one source of income fails.⁣⁣

One of my favourite podcasts on the topic of money, and the importance of diversifying your income is For The Love of Money with Chris Harder. One of the main points Chris talks about often is the importance of multiple streams of income, as protection, should one of your household income streams disappear. He uses his personal story of being laid off from his job due to the stock market crash, to highlight the point even further.

These days, the options are endless when it comes to creating multiple streams of income. Online businesses are everywhere!

Whether you want to start your own business from scratch, become an affiliate for a company or partner with a company in direct sales, the options are endless.

Here are some examples:

• Become an Amazon Affiliate - earn commission for recommending your favourite Amazon products.

• Join a direct sales company - earn commission for selling products and recruiting others to join your team.

• Open an Etsy Shop - monetize your talents/hobby!

• Create digital resources - e-book, online course, PDF guide, etc.

• Join Fiverr or Upwork - sell your services as a freelancer (podcast editor, photo editor, copywriter, etc.)

• Become a virtual assistant - reach out to online businesses and offer your services, this could be anything from inbox management to social media management, depending on your skill set and experience.

I bet you're thinking "I don't have time for that..."⁣⁣

If that's the case, ask yourself these questions: ⁣⁣ Could you:⁣⁣ ⁣⁣ 1. Replace one Netflix episode a day with a podcast or educational video? I know, I know . . . I'm addicted to Schitt's Creek too! Seriously though, It's never been easier to find the resources to sharpen your skills and learn everything you need to know about your new business. I love podcasts because I can listen to them in the car, while I work, while I fold laundry, etc.⁣⁣ ⁣⁣ 2. Wake up 15 minutes earlier each day to work your business? ⁣⁣ ⁣⁣ 3. Replace 15 minutes of "scrolling" with 15 minutes of content creation for social media? (photos, captions, posts, stories, etc.) Tip: you don't have to always post in the moment. You can create your content ahead of time, so you always have something to post. ⁣⁣ ⁣⁣ If you can do those things, that means you have found one hour a day to work your online business.

It won't happen overnight, it will take dedication, intention and consistency, but if you create the habits, and show up to work, it WILL happen.⁣⁣

Here are some things to consider:

While there are unlimited opportunities available, you need to ensure you have your ducks in a row when it comes to actually running your business.

Head over to part 2 of this 5 part series, where I help you answer the question, is now the right time to start a business?