When you hear that someone has 10, 12, or more streams of income it might cause you to either be impressed or possibly even depressed because you’re wondering how you’ll ever get there.
Let me let you in on a secret…….it happens one stream at a time and it doesn’t happen overnight.
I have about 16 different streams, but I started with one and it grew from there.
And when I say multiple streams of income I’m not talking about parallel streams that don’t connect or have anything to do with each other. It could be that way, but it’s much easier to leverage one you already have going.
Let me explain….multiple streams usually doesn’t mean that you have an e-commerce business then on weekends you run a carnival, and during Christmas season you open a Christmas décor store all while you’re running a fitness coaching business.
Those streams don’t intersect at all. Not that you couldn’t do that, but the fastest way to grow your business is to branch off from what you already have going on.
Take my friend and student Jimmy Smith for example. He and his wife Brittany have built a very impressive Amazon business from sourcing replenishable products (You can learn more about this in my interview with Jimmy in Episode 3 of my podcast).
I saw Jimmy’s success and knew that his strategy would be something other sellers could do so we partnered together to create a course.
Based on Jimmy seeing a need from his students he created a coaching program where he and Brittany will fly to your hometown and teach you this strategy personally.
Another need arose from this replen strategy…..keeping track of all that inventory.
So Jimmy met that need by creating a software tool to track all of it. (Use code “FriendofRyan” for 10% off for life)
That makes 4 streams of income from one niche!
And this all came about because Jimmy saw the needs and filled the gap with products that served his audience well. YOU can do the exact same thing!
If you’re working a full time job or you already have a business and are wondering how you can just get one or that next stream going then listen to this week’s podcast episode.
I go into detail on the formula you can use to manage your time and how you can outsource what you currently have going on to be able to focus your attention on the new stream.
Also, please join Jenni Hunt and myself on our free webinars Monday and Tuesday night where we’ll unpack how you can monetize your passion and create multiple streams of income.
As always I’m here for you. Let me know how I can serve you.
By God’s grace Ryan has built a thriving online business with multiple streams of income ranging from selling physical products to a variety of books and courses on the topic of starting and growing an online business. Ryan’s passion is to help people discover their gifts and talents and use them to fulfill their purpose in life – thus the reason for this book.
Ryan is happily married to his wife, Melane, and is a proud father to his son, Callen. They reside in Southlake, TX.