EP7 How to Create Multiple Streams of Income?

How to Create Multiple Streams of Income “Switch Your Mindset Over to Being A Business Owner or An Investor.” -Rae Irelan (06:03-06:07) Imagine a dream that's bigger than any other goal that you've imagined when it comes to your finances. What would it look like if you could have the streams of income that you wanted? What if you're doing work that you love? With the rise of technology, there are many jobs available for anyone right at our fingertips. In this episode, Rae Irelan talks about how you can create multiple streams of income. Part One of ‘How to Create Multiple Streams of Income’ It can be a tough economic time for many people right now. I'm talking about the many ways to impact more people throughout your lifetime. It's not about the money. It's about the impact. If you can look at it in that frame, it will help you open up to new possibilities. I'm excited to share my process around how to create many streams of income.  It all started with the necessity of being an artist, being on tour, and always being on the road. There was no opportunity for me to have a regular job with a steady paycheck because I was into my gigs. It came from this space of necessity because I knew that I couldn't live like the other guys from my band. They were okay with having McDonald's for every meal. I thought something needs to shift, and I love what I'm doing. So, how do I bring in more money? The first thing I considered was my strengths. What started as a necessity has turned into an experiment of abundance. I call it an experiment because these different streams of income are always expanding and changing. You see all the time how people are like clutching into this dream of the nine to five job. It's like a security blanket, but it's not secure. And if you're looking for security, then that can only come from within you. That can only come from a journey of going within yourself and finding that deep sense of security.   “Many people wrap themselves in a safety blanket with little opportunities for growth.” – Rae Irelan (08:34-08:42) There's a significant shift that's going to happen as you start to understand that the money is going to be working for you. I don't know if you realize this, but you are currently most likely working for your money every day. You are in your money's fingertips. Whatever your money tells you, you do it no matter what. You have more control and power than you think. What would happen if you take control of your money? You think no one can control money. That's one of the things that control everyone in the world. If you are reading this, you're likely an entrepreneur, or you're working on your current job. You may be someone working on going full time into your business or your dream. I'm a person that is on the other side of the building process. Step out of the employee mindset. Unfortunately, that keeps us in this one mental space or mindset where we rely on a regular check to come in, to support you, and to fulfill all your needs or what you thought were your needs. Because many people realize that it isn't fulfilling them, it's not giving them the security they've always wanted. Part Two of ‘How to Create Multiple Streams of Income’ Successful entrepreneurs, business owners, and investors are people who take full responsibility to create new opportunities that bring them wealth. It might feel like you're stepping off of a dark, long cliff. And you're not sure what's at the bottom. It might sound scary to hold all that responsibility because no one's going to send us a check in the mail. Most people choose to play it safe. They want that nine to five. They want that safety blanket, but they keep themselves in this certain financial bracket with little opportunities for growth. Many people are taking that risk, and the reward is a hundred-fold. I'm not talking about monetary compensation, although it's part of what we do. Freedom and creating more streams of income has so much more to offer. It's usually the opportunities that money can provide to be a stay at home mom, to spend more time with your partner, to travel and see the world, to support others in their dreams, or to build something. This is where the need for support, education, coaches, and mentorship comes in because you can converse with these people that are at the bottom of the cliff. If you're reading this blog, you know you're taking that step. Money is one of the tools that we use to help us achieve our goals. This is why having multiple streams of income can change your life. You can sell products, services, experiences, things, environments, access, and the list can go on. When you start to play around with these ways to make money, then you're beginning to put yourself in a new financial bracket with limitless opportunities. Every person has the chance to do this. All you need is the tenacious focus to push you when things get complicated. As you climb into that mountain of success, you encounter something that doesn't work, but they become manageable over time. You are learning and growing. “The best way to move forward with collaborators is to join people who have similar values to you.”– Rae Irelan (13:26-13:32) You probably have a little bit of that adventurous and explorative spirit in you. So, it's just a new way to be able to expand upon that. The cool thing is that you can begin to create these many streams of income and work for yourself. There are many opportunities and ways that you can do things where you can build new streams of income while not having to create the ins and outs or all the backend of businesses. You can go into partnerships, you can team up, you can invest, and you can work with companies as an affiliate. There's network marketing. Collaboration is the name of the game here. When creating many streams of income, you do not want to do this all by yourself. You want to build up your team. You want to build up your community. This is going to help the relationships last much longer. It comes down to values, and it comes down to people. What you can genuinely be doing is working, collaborating, and investing in people. That is how we come full circle back to being able to talk about creating an impact and creating multiple streams of influence for people throughout your lifetime. How to Get Involved Are you working for yourself or are you building a business? If you are an entrepreneur and want to learn how to grow multiple streams of income, let’s have a conversation. I can help you grow your business to the next level. Book a call HERE.   Learn more about your ad choices. 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