Do you have multiple streams of income - and if so, which one did you build FIRST? P.S. Be sure to jump on my free training, “How to Use a Holistic Approach to Create a Profitable Business Without Burning Yourself Out”. Learn more and reserve a seat here: xotara.us/training
so true,I've experienced that too I've started with clothes online shop and after half a year started coaching business which made me slow down on both and now I'm stuck,I pause one business and move other one ahead a little bit and then again pause this one and try on another one and I can't remove one of them now! so be PATIENCE and don't do that to yourself and your business.
Is there a way to pause, simplify, outsource or time block perhaps (just to name a few)? Cuz I’ve been in that position too and it IS tough. Hang in there!
@@TaraWagner YEAH, actually tnx to covid 19 I can find some BOTTLE NECKES in my clothing business because of quarantine the market gets closed and I can't buy clothes to sell SO NATURALLY IT GOES ON PAUSE
Excellent pretty lady Tara! I definitely can relate to having so many irons in the fire and being overwhelmed and not really going anywhere. I just started letting things go and focusing on one thing and yes that book was amazing! I did need the advice on what 1 thing I should stick with in the beginning so thank you for the advice that really helped!
Thanks for your thoughts! But did you watch to the end? Multiple streams of income is the EVENTUAL goal, but building them all at once is where people trip up, especially for small biz owners. One at a time ensures they get built and we're not spread too thin before they actually bear fruit.
But all those streams of income you did in the past were physical labor. That's why they didn't work. Doing online influencing, selling books, selling online courses, and online merchandise IS doing multiple streams of income. I do agree however that you must have 1 revenue stream that is "killing it. " But your additional revenue streams should never be physical labor but digital content creation, sales, and wise investments. In 2021, people under the age of 40 are making 6 figures before they leave grad school because we understand the market we live in. I don't think we should encourage people not to have multiple income streams or at an arbitrary number at the revenue they should hit before doing so. I know dozens of 19 year olds making 7 figure internet money doing everything from shopify to affiliate marketing. This information being taught in this video is outdated and will hurt young people going forward. No one can live off of 1 income today without help in the USA as the average rent for a 1 bedroom apartment is between $1200-1400. However I do believe we should encourage people to diversify their revenue EARLY strategically making money online in order to discover their heavy hitters early on without wasting a decade or 2 doing something that will never profit them....if we're genuinely trying to help people become financially fit. Multiple streams of physical labor, unless you're opening a vegan fast food restaurant or some other kind of unicorn business...will fail. Massage therapy doesn't pay unless you're doing it for celebrities who tag u on social media, teaching online massage classes, own a massage certification academy, and also hold a PhD in that field. In 2021, one must work smarter.... not harder.
I hear what you’re saying. But the principles remain the same whether it’s physical products or not. Splitting your energy in too many directions before you’ve figured out ONE (meaning it’s selling, scalable, and locked in) is a recipe for burnout. I see entrepreneurs do this on repeat. They have so many ideas and try to build them all at once, which means none reach their full potential. This isn’t just what I did years ago. It’s what new entrepreneurs are doing on the daily. The ones I see make MASSIVE strides are the one who narrow their focus, build ONE, master it, and then strategically add more. And many find they never actually need more. Jut because people ARE doing well with multiple streams doesn’t mean MOST do or that there aren’t successful businesses doing less. I know 6 and 7 figure entrepreneurs doing ONE thing. And they are the happier and healthier ones because again...burnout is a bitch. 😂 This doesn’t mean to NEVER build multiple streams. It means to do so wisely. One bridge at a time. Did you see the second part of the video where I talk about ways to diversify early without splitting your energy?
PS. I want to be clear that what I’m saying here has little to do with massage specifically. That’s only one example. I’d hate for anyone to think I’m only talking from that experience and not the experience of personally operating and/or coaching others thru operating multiple other businesses (service based or otherwise) successfully and in ways that don’t lead to burnout. And the key has always been “less is more to start...and often to keep going”. This is small business 101...not Hustle/Burnout Culture. I hope that makes sense. :)
I feel like I personally have to agree with 4everfaithful. When I ran a physical goods business, it still did very well even though I had plenty of downtime. I still had to produce the goods, package them, deal with customer emails, QC them etc. but even then I still had down time. Rather than play games, watch RUclips or other things, I could've spent that spare time building up other more passive and compounding streams of income while running that other business. I agree that you obviously can't do 3 physical businesses at once, but you CAN record youtube videos, record a online class, write an article for your blog in your down time etc. And those streams of income will compound over time. It's better to start now than wait and wish you had joined youtube 10 years ago.
I honestly think a lot of people just don't realize that they did one at a time. They often tell people the most recent thing they did instead of understanding that there are "seasons" of business and different things to do in each season (which is what I show in the Breakthrough Boss® for this reason!). Glad you're already aware of it!
Do you have multiple streams of income - and if so, which one did you build FIRST? P.S. Be sure to jump on my free training, “How to Use a Holistic Approach to Create a Profitable Business Without Burning Yourself Out”. Learn more and reserve a seat here: xotara.us/training
You risk “duplicating your failures” when you spread yourself too thin (BEST ADVICE), thank you so much ❤ definitely working towards MASTERY✨
so true,I've experienced that too
I've started with clothes online shop and after half a year started coaching business which made me slow down on both and now I'm stuck,I pause one business and move other one ahead a little bit and then again pause this one and try on another one
and I can't remove one of them now!
so be PATIENCE and don't do that to yourself and your business.
Is there a way to pause, simplify, outsource or time block perhaps (just to name a few)? Cuz I’ve been in that position too and it IS tough. Hang in there!
@@TaraWagner YEAH, actually tnx to covid 19 I can find some BOTTLE NECKES in my clothing business because of quarantine the market gets closed and I can't buy clothes to sell SO NATURALLY IT GOES ON PAUSE
Actually got more out of this than anticipated!
Haha I'd call that a win. What was your biggest takeaway?
Excellent pretty lady Tara! I definitely can relate to having so many irons in the fire and being overwhelmed and not really going anywhere. I just started letting things go and focusing on one thing and yes that book was amazing! I did need the advice on what 1 thing I should stick with in the beginning so thank you for the advice that really helped!
Glad to hear that! It’s a hard first step but soooo worth it once we define that focus.
I disagree cause multiple streams of income can enhance in areas where you are deficient at. Focusing all eggs in one basket...leads to complacency.
Thanks for your thoughts! But did you watch to the end? Multiple streams of income is the EVENTUAL goal, but building them all at once is where people trip up, especially for small biz owners. One at a time ensures they get built and we're not spread too thin before they actually bear fruit.
But all those streams of income you did in the past were physical labor. That's why they didn't work. Doing online influencing, selling books, selling online courses, and online merchandise IS doing multiple streams of income.
I do agree however that you must have 1 revenue stream that is "killing it. " But your additional revenue streams should never be physical labor but digital content creation, sales, and wise investments. In 2021, people under the age of 40 are making 6 figures before they leave grad school because we understand the market we live in. I don't think we should encourage people not to have multiple income streams or at an arbitrary number at the revenue they should hit before doing so.
I know dozens of 19 year olds making 7 figure internet money doing everything from shopify to affiliate marketing. This information being taught in this video is outdated and will hurt young people going forward. No one can live off of 1 income today without help in the USA as the average rent for a 1 bedroom apartment is between $1200-1400.
However I do believe we should encourage people to diversify their revenue EARLY strategically making money online in order to discover their heavy hitters early on without wasting a decade or 2 doing something that will never profit them....if we're genuinely trying to help people become financially fit.
Multiple streams of physical labor, unless you're opening a vegan fast food restaurant or some other kind of unicorn business...will fail. Massage therapy doesn't pay unless you're doing it for celebrities who tag u on social media, teaching online massage classes, own a massage certification academy, and also hold a PhD in that field. In 2021, one must work smarter.... not harder.
I hear what you’re saying. But the principles remain the same whether it’s physical products or not. Splitting your energy in too many directions before you’ve figured out ONE (meaning it’s selling, scalable, and locked in) is a recipe for burnout.
I see entrepreneurs do this on repeat. They have so many ideas and try to build them all at once, which means none reach their full potential. This isn’t just what I did years ago. It’s what new entrepreneurs are doing on the daily. The ones I see make MASSIVE strides are the one who narrow their focus, build ONE, master it, and then strategically add more.
And many find they never actually need more.
Jut because people ARE doing well with multiple streams doesn’t mean MOST do or that there aren’t successful businesses doing less. I know 6 and 7 figure entrepreneurs doing ONE thing. And they are the happier and healthier ones because again...burnout is a bitch. 😂
This doesn’t mean to NEVER build multiple streams. It means to do so wisely. One bridge at a time.
Did you see the second part of the video where I talk about ways to diversify early without splitting your energy?
PS. I want to be clear that what I’m saying here has little to do with massage specifically. That’s only one example. I’d hate for anyone to think I’m only talking from that experience and not the experience of personally operating and/or coaching others thru operating multiple other businesses (service based or otherwise) successfully and in ways that don’t lead to burnout. And the key has always been “less is more to start...and often to keep going”. This is small business 101...not Hustle/Burnout Culture. I hope that makes sense. :)
I feel like I personally have to agree with 4everfaithful.
When I ran a physical goods business, it still did very well even though I had plenty of downtime. I still had to produce the goods, package them, deal with customer emails, QC them etc. but even then I still had down time.
Rather than play games, watch RUclips or other things, I could've spent that spare time building up other more passive and compounding streams of income while running that other business. I agree that you obviously can't do 3 physical businesses at once, but you CAN record youtube videos, record a online class, write an article for your blog in your down time etc.
And those streams of income will compound over time. It's better to start now than wait and wish you had joined youtube 10 years ago.
I think this is a must watch for new entrepreneurs! I mostly just needed the reminder as I stumbled upon this. Great vid!
I'm so glad that you found this video helpful. I agree! Sometimes we all need the reminder, especially our fellow entrepreneurs and small biz owners.
With patience
Patience!!! Great advice. Thank you for sharing.
Glad it was helpful!
This was helpful thank you!
Glad to hear that!
This video is gold! Thank you, Tara!
I hope it’s helpful!
I share your method on this topic, most of them don't tell you this or be honest about it.
I honestly think a lot of people just don't realize that they did one at a time. They often tell people the most recent thing they did instead of understanding that there are "seasons" of business and different things to do in each season (which is what I show in the Breakthrough Boss® for this reason!). Glad you're already aware of it!
As someone who has 5 RUclips channels I can relate to this lol
Right! What are each of your YT channels focused on?
The greatest video!
Ok but I have ADHD and it doesn’t work like that for me
Hey Gia! How do you mean?
👊
You rock. ❤️
fist bump