Do NOT Build Multiple Streams of Income - Unless...

There is a HUGE myth around multiple streams of revenue: that if you diversify income streams you’ll make more money. Let me set the record straight (and save you the mistakes so many of us make).

I want to talk about passive income streams, investing, and building one bridge at a time, so you can learn how to diversify your income the RIGHT way.

ESSENTIALISM BOOK:

FREE CLASS: How to Use a Holistic Approach to Create a Profitable Biz Without Burning Yourself Out

// MORE INSPIRATION

LLC VS. S CORP - WHICH IS BEST:

7 HABITS TO MAKE MORE MONEY:

GROSS VS. NET - HOW TO KEEP IT STRAIGHT:

4 HABITS TO REMOVE MONEY BLOCKS:

‘CHARGE WHAT YOU’RE WORTH’ IS BAD ADVICE:

5 MONEY HABITS O START BEFORE THE NEW YEAR:

7 MONEY MINDSET BOOKS:

ARE YOUR FINANCIAL GOALS TOO BIG?

26 WAYS TO MAKE MONEY AS A COACH/CONSULTANT:

3 MONEY BELIEFS HOLDING YOU BACK:

ENTREPRENEUR VS. INTRAPRENEUR - WHICH ONE ARE YOU?:

START A BUSINESS IN 10 HRS/WK:

BEFORE YOU SET BIZ GOALS, WATCH THIS:

// LINKS

// MY VIDEO SETUP + EQUIPMENT

// EMOTIONAL AROMATHERAPY

Want to learn more about how to use aromatherapy to impact your limbic system (mindset, emotions, and thoughts)? Or to increase the impact of your affirmations, journaling, or personal development work? Check out these links below:

// ABOUT ME

I’m Tara Wagner, Breakthrough coach and lifelong entrepreneur. I help female entrepreneurs get their heads, their hearts, and their habits straightened out, so you can take back your time, make more money, and finally crush your goals, not your soul. Looking for mindset and business coaching?

// DISCLAIMER

[DearStephanieX]

You risk “duplicating your failures” when you spread yourself too thin (BEST ADVICE), thank you so much ❤ definitely working towards MASTERY✨

[Taranehko]

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.

[ShewedDude]

Actually got more out of this than anticipated!

[ShelitaRN]

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!

[DMV_Mav]

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.

[everfaithfulunHim]

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.

[HiMyNameIsKim]

I think this is a must watch for new entrepreneurs! I mostly just needed the reminder as I stumbled upon this. Great vid!

[melaniesmith]

Patience!!! Great advice. Thank you for sharing.

[ansonkydd]

I share your method on this topic, most of them don't tell you this or be honest about it.

[OwlofDating]

As someone who has 5 YouTube channels I can relate to this lol

[giap.]

Ok but I have ADHD and it doesn’t work like that for me