Mulitple streams of income…. a concept that many people talk about and desire having in their lives, but very few people fully understand it and even fewer achieve it.
So what exactly is “multiple streams of income“?
For most people, when they think about multiple streams of income, the image that they see in their mind looks a little bit like this.
Multiple Streams of Income Diagram
Basically most people imagine that having multiple-streams of income involves trying to build many different types of income streams all at the same time.
Here’s how most people approach building multiple streams of income. All at the same time they are:
- Trying to increase their JOB income
- Trying to start and build a team in an MLM company
- Trying to get into REAL ESTATE investing, flipping houses or renting out properties
- Trying to build up an INVESTMENT INCOME portfolio
- Trying to MAKE MONEY ONLINE
- Trying to start a SIDE BUSINESS with a friend or based on some idea they dream up
- Trying to look for a SECOND JOB to make some extra part-time income
- Trying to start and build a second team in a second MLM company
When they do this, their energy gets scattered in all these different directions all at the same time.
This DOES NOT work very well!
Your energy gets scattered, you get frustrated, and usually besides your JOB income, the other income streams never really amount to anything.
What I recommend that people do instead is to follow a strategy that I call Multiple Streams of Synergized Income.
What is Multiple Streams of Synergized Income Diagram
Multiple streams of synergized income is a strategy that you can apply in your life, which can give you all of the benefits of having multiple streams of income without all the frustration and overwhelm of trying to do 50 things at the same time in different directions.
Here’s what it looks like:
With the Multiple Streams of Synergized Income strategy, instead of trying to build 5 or 10 or 50 different incomes streams which are all going in different directions and all separately competing for your time, energy and resources, we instead employ a different strategy where we LINE UP all the income streams in ONE direction.
For example, let’s say that the MAIN income stream that you want to focus on developing right now is being a Professional Network Marketer.
Meaning, let’s say that you’ve joined an MLM company that you really like and you want to build up an income stream as a network marketer.
Now you have your main income stream that you are going to be focusing your energy on.
What else do you have?
Well, you might also have your current full time JOB that you work Monday to Friday 9am – 5pm, and that job pays you just enough to cover your bills.
Okay, that’s fine, there’s nothing wrong with that. You WANT to make sure that you’re not under intense financial pressure while trying to build a new business or income stream, so if you currently have a job that pays your bills, then keep it!
Build your second, main income stream as a Professional Network Marketer in your spare time, on weekends and evenings!
So now, you have your JOB and your have your income stream as a network marketer.
What about all those other income streams we mentioned before?
Well, what you wan to do is you want to take a look at your income streams and see if they:
- (a) create SYNERGY and benefit the current income stream you’re focusing on building, or;
- (b) create a DISTRACTION and take up resources and time and energy away from the current income stream you’re focusing on building
For example, let’s say that you hear about one of your friends getting into real-estate and renting out houses and making an income stream as a landlord.
Ask yourself “Would trying to buy a rental property right now, and learning how to be a landlord create SYNERGY with my current focus on becoming a Professional Network Marketer, or would it be a DISTRACTION?”
The answer to that question would most likely be that trying to do that right now would be a DISTRACTION.
Because of this, I wouldn’t recommend it! Let your friend be the landlord and let him focus on that, and YOU focus on the income stream YOU’RE trying to develop.
Next, let’s say that another friend of yours tells you that he just started a part-time lawn-mowing business and he wants to know if you want to be his partner.
Again, you’ve got to ask yourself if that income stream is going to create SYNERGY or DISTRACTION.
Again, the answer will most likely be that it’ll be a DISTRACTION for you from your goal of becoming a Professional Network Marketer.
You can go through all the different income streams that you might be thinking about getting into in your life and honestly ask yourself this question… SYNERGY or DISTRACTION?
Now let’s look at some income streams that could be SYNERGISTIC with your main focus of trying to become a Professional Network Marketer.
Let’s use the Kalatu Brand Builder platform and the Empower Network training system and affiliate program as an example of another income stream.
Would utilizing this system have a SYNERGISTIC effect on becoming a Professional Network Marketer, or would it be a DISTRACTION?
Well, let’s take a look at what this system does and what it teaches you:
- It sets you up with and teaches you how to create a personal brand on the Internet
- It teaches you the most up-to-date strategies for generating leads for any MLM using the Internet
- It teaches you how to become a Top Producer in any MLM
- It teaches you how to build a successful Team within any MLM
- It teaches you how to engage Duplication and Synergy within your Team
- It teaches you how to convert cold market leads into raving fans WITHOUT having to cold-call anyone or hold meetings in your house
- and much more!
When we look at this list, it becomes VERY obvious that engaging in a system like this can create a LOT of synergy towards achieving your goal of building an income stream as a Professional Network Marketer.
Therefore, if that is your goal, to become a network marketing pro in any MLM, I would recommend checking out this system.
Not only will it help you to become a much more successful network marketer, but you can also develop a synergistic income stream with the Empower Network affiliate program!
But this is not just about the Kalatu system or Empower Network.
Let’s use another simple example to illustrate the idea behind Multiple Streams of Synergized Income.
Let’s use the emailing platform called AWeber.
AWeber allows you to build email lists, auto-responders and communicate with your audience.
AWeber also has an affiliate program which can help you develop another residual income stream.
But before we decide whether we want to participate in the AWeber affiliate program, we have to ask ourselves again…. Will joining the AWeber affiliate program and promoting it help to build SYNERGY for us as Professional Network Marketers – OR – will it just be a DISTRACTION?
Well, since most experts today will agree that if you want to be a successful network marketer, you MUST learn how to use the Internet and how to build email lists and how to communicate with your prospects and clients via email, learning how to use a tool like AWeber would DEFINITELY have a positive SYNERGISTIC effect on your plans to become a Professional Network Marketer.
Also, as a network marketing professional, you’ll have a TEAM that you’ll be leading as well, and guess what? That team is going to have to learn how to use auto-responders and how to build an email list and all of those things as well, and they’re going to ask you which is the best tool to use for that purpose.
Well, in that situation you can promote the AWeber platform to them as an affiliate, helping them out with their business, while simultaneously building another small SYNERGISTIC income stream in your business.
Is this starting to make sense?
I often find that a lot of people misunderstand the concept of multiple streams of income and their thinking is usually polarized in one of two directions.
(1) I Love Multiple Income Streams and I’m Trying to Build 100 Of them Now!
This is the type of person that starts 100 different businesses, income streams, jumping around all over the place trying to make money in 50 different directions all at the same time and never actually making ANY real money with any of them.
I’m not going to judge these people because I’ve been there myself!
It’s called the “Shiny Object Syndrome” where you jump all over the place trying to make money in 50 different ways at the same time and never succeed with ANY of them.
On the other side of the spectrum we have the other person…their thinking is more like…
(2) Multiple Streams of Income Are Evil – You Must Focus Only on One Thing Forever and Never Give Up
This is the type of person who joins an MLM and falls into the energy and excitement of the meetings and seminars and get-togethers that the company or their sponsor has, and is brainwashed to think that EVERYTHING else except for that one MLM they are in is a SCAM.
This is the type of person where if you ask them what they’re up to, they’ll spend 30 minutes talking about their MLM, but if you try to mention some resource or training or tool or something that could help them, or you mention another MLM that another friend of yours is in, they’ll be like “OMG! That thing is a total scam! My company is not a SCAM but all those other companies, are all SCAMS!”
LOL. These types of people make me laugh because then they wonder why everyone THEY talk to thinks that THEIR MLM is a scam!
These types of people will usually completely ignore ALL other income streams, regardless whether they’re SYNERGISTIC to their business or not, because they’re afraid of losing FOCUS.
They won’t even look at any tools or resources that anyone recommends to them which could be a HUGE benefit to their business, because they they’re afraid that their sponsor will spank them or something for trying to expand their field of knowledge – LOL.
There Is a Better Way
Look, I totally understand that if you’re in an MLM company, staying FOCUSED and not jumping around from one company to the next every 2 weeks is one of the KEYS to success.
Trying to go in 50 different directions at the same time is counterproductive. I totally agree with that.
Shiny object syndrome is NOT going to help you become successful.
However, embracing Multiple Streams of SYNERGIZED Income can be the difference between struggling and THRIVING in your business.
I’m not just talking about people who are trying to become Professional Network Marketers. That’s just an example I used.
Maybe your main income stream that you’re trying to focus on building right now is to be a coach or a mentor.
Or maybe it’s to be a healer or a teacher.
Or maybe you ARE trying to start a lawn mowing business.
Whatever it is that you’re looking to build right now, LOOK for other income streams that can be SYNERGISTIC with the income stream you’re currently building.
Most cell phone kiosks and stores make more money from their SECONDARY income stream – selling cell phone accessories – than they do from their primary income stream!
Most electronics stores make a higher profit from their SECONDARY income stream – selling warranties and service – than they do from their primary income stream (selling electronics!)
If you ARE in fact currently involved in an MLM company, and you want an awesome example of a SYNERGISTIC income stream that fits in with your MLM income, I highly recommend checking out this system by clicking here.
If you’re building another type of income stream, just start looking and I’m sure you can find some synergistic income streams that could significantly multiply your income as an entrepreneur.