Spreading Business Risk Through with Multiple Income Streams
You hear a lot of online coaches talk about leveraged, passive or recurring income. For me, this is my training. It is far from fully passive, but certainly leveraged, and pre planned marketing campaigns mean I am still showcasing my products, and selling them, without physically doing the work at that time.
Last month did not gone as planned for me.
Financially, it's been a disaster.
At the start of the month 2 of my 3 pets crossed the 🌈 bridge, not entirely unexpectedly, but still a shock when it happens, then I've been struck down with this awful cold bug doing the rounds.
As a result, the number of days chargeable work I have been able to do is scarily low...........
No level of insurance is going to cover these type of things which makes me very glad I have various income streams which mean I am always covered, to some extent, when the chips are down.
You hear a lot of online coaches talk about leveraged, passive or recurring income. For me, this is my training. It is far from fully passive, but certainly leveraged, and pre planned marketing campaigns mean I am still showcasing my products, and selling them, without physically doing the work at that time. So despite my low output this month, I have taken course bookings right though to September 2024 and can invoice for them right now.
Other examples could be a fully remote course on You Tube, a downloadable PDF or an online membership. Anything which is generating revenue which does not involve you directly trading your time for money.
Taking this a step further, longer term arrangements for ongoing monthly support will also get you over such humps when focussed outreach is not an option.
There's never been a better time to explore different options to spread your risk in the tough times, and the opportunities are endless.
Don't wait until it's too late and your bills are stacking up, lets talk!