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Multiple Streams of Income: How to Create Additional Sources of Income From Your

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succoach

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answer is yes. The benefits of having of several sources of income include:

1. It’s easier to create several small income producing streams over one large one. For example, it’s easier to create three streams that earn $1,000 than one stream that earns $3,000.

2. It reduces the risk of being left without any income. If you’re laid off or one source of income drops, you have other sources to help you get by. Especially in home business, which has an ebb and flow, you can offset the ebbs through having more than one source of income.

3. It helps you avoid boredom in work by having different things to do every day

4. You can create income streams based on your interests, talents and passions.

 

1. Take out a piece of paper and write your main business product or service in the middle to start a mindmap. If you’re a virtual assistant, you’d write VA in the middle of the paper.

2. Create four spokes titled “Products,” “Services,” “Advertising/Affiliate,” and “Other” off of your main product or service.

3. Create spokes off of each of these options with ideas on how you can make money at them.

People who should listen to this show are home-based business owners, entrepreneurs, under-employed, coarre coaches

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