Remember your islands are why you are doing this in the first place! Islands in the streams Having multiple streams of income sounds like the Dream Life we all wish for. However, if you are going to work towards having this idyllic life you will have to look at exactly what it is you are going to have to put into your multiple streams to achieve your ultimate incomes. I have done it and I have to tell you it isn’t easy
One thing I have learned about running a business is that you have to give it 100% effort, time, commitment and most of all passion and enthusiasm.
If you don’t have time because you are already using up those skills on something else then think wisely about what you can afford to give your 2nd or 3rd stream. Once you start delving into multiple streams you need to be aware that initially you will need to give it multiple hours of your time too. NULL
Now, we all know there are only 24 hours in a day so how on earth are you going to manage more than 1 business as well as the “Islands” you may come across in your day to day life.
By islands I simply mean your personal stuff.
Your family, kids, home etc… What islands will your streams need to swim around to make sure they run smoothly and efficiently without flooding your islands!? I was very lucky to have grown a MLM business for 9 years before I took “time out” to become an author and build a website to accompany my new business of guest speaking and consultancy. I had so much passion, enthusiasm and belief in my new business that I knew it was a matter of being able to give it the time to build it. From my own personal experience I can honestly say I couldn’t have done it if I hadn’t already secured the 1st business to run efficiently on its own.
My MLM business was well established and it practically ran itself. And only at this point would I encourage anyone to go into multiple streams of income.
I mean, you wouldn’t start building on a foundation that was only a few inches deep would you? My 3 top tips for anyone considering going into multiple streams of income are:
1. Always ensure your 1st business is secure and bringing in a steady income that can take care of itself. 2. Choose a 2nd 3rd or even 4th stream of income that will compliment your 1st business. Being able to draw of the skills and experiences you have had from your 1st successful business will help you build steadily and wisely. 3. When you decide what it is you are going to do, make sure you don’t simply “follow the crowd” and you build your businesses to fit around your very own “islands in the stream”
Having said all of this, I have many friends that have several streams of income from working multiple networking and MLM businesses, but, they don’t have any one great success. They all seem to “tick over” and make a small income from each. Many people like to have many fingers in many pies, I personally don’t believe you can give it your all and really go for success if you are timing out on each business. Surely success comes with time, experience and passion for what you believe in, and having several beliefs for several businesses may stretch the individual a little too far. My advice would be to find the perfect network or MLM business for yourself and build it with 100% of your time and commitment. Only when you have mastered the art of your 1st stream of income should you consider beginning your 2nd stream. Remember your islands are why you are doing this in the 1st place. Let’s not forget them and flood them before you or they see your success.