The Best Way To Diversify Income Streams In Your Biz

“When you rely on one stream of income, you are revolving your entire business around that ONE way of earning revenue.”

— Melissa Houston

If you’ve been scratching your head trying to figure out how to diversify the income streams in your business — or wondering if it’s worth the effort — then you’ll definitely want to listen to this episode!

Here’s the reality: even if your business is currently profitable, relying on a single source of income puts you in a very risky position. Income diversification not only allows you to increase your revenue, it offers you protection against market fluctuations, supply chain bottlenecks, changing customer preferences, or other unforeseen circumstances that can affect your bottom line.

The trick? Figuring out which types of income stream are the best fit for your business.

In this episode, I demystify income diversification for your business, share real-life examples of how I’ve diversified the income streams in my own business, and bust the #1 myth about passive income!

In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌

9 different income sources that you can use to build wealth in your business (both active and passive)
How sponsorship can enhance the ROI you receive from your content creation
BONUS: my top tips for getting your money to work for you in your personal finances, too!

Highlights:‌ ‌

00:50 Intro & holiday thoughts

03:15 Why diversify?

04:08 Diversification example

05:13 Overview of income sources

09:02 My diversified streams

12:24 Personal finance strategies

16:01 Final thoughts & the bottom line

‌

Links:‌ ‌

Link to calendar (free 30 min consult call)