Second Income Stream?Jan 20, 2022
I cannot believe still that it is 2022.
We are jumping in today talking about something that has been asked in my DMs so much over these past few months:
“Kayla, I know 2022 is the year that I'm going to do massive moves in my business. I'm going to really embody what being an entrepreneur looks like I have all of these ideas. How do I know that I'm truly ready for another income stream?”
As someone that has two businesses, two business models, two companies, and has over the past year, I have been really sitting back and thinking about what this ultimately looks like. And this question in itself was actually one of the biggest reasons that prompted me to retool my mastermind, which I will tell you about later.
But ultimately, are you ready for another income stream?
You've heard this a lot. You hear people telling you all the time not to put all of your eggs in one basket, you never know what's going to happen. And so you've been thinking like, Oh, what is something else that I can create? How can I put my skills to good use? And then of course, if you're feeling capped out in your income, where your business is at right now, this could absolutely be a great time to add another income stream without sacrificing your other business or your network marketing business. Because this does not have to be an aura thing. It gets to be a thing, you get to do both. So specifically, here, I'm talking to my network marketers who don't want to sacrifice their network marketing business, but they see other leaders in their company, creating offers and creating products.
You're thinking I want to do the same too. How do I know that? I'm ready. So the biggest thing that you need to know is number one:
#1 Are you recognizing that there are people in your audience right now that are going unserved with what your network marketing company currently offers?
I know when people experienced this, some of their gut reactions are to think about switching companies. But I actually don't think that that is the case at all, or it doesn't have to be right. If you are noticing that there's a chunk of your audience that is going unserved, and you have the skills to serve them, you 100% should be compensated for that. If you're recognizing that, then that is definitely a sign that adding another income stream could very well be a good fit.
#2 Do people want to keep working with you?
But right now, under your existing business, and the existing offers? Is there not really anything for them to do to continue working with you? If they already graduate? Maybe if someone wants to work with you, but they don't want to join the business? There are so many different scenarios that we could throw out here. But if you're noticing that people want to continue working with you, but there's really no existing way to do so, that can absolutely be a sign that adding another income stream makes sense for your business.
Do you have knowledge? Do you have skills? Do you have information that you could monetize, that you are not currently able to use to the fullest potential within your network marketing business? If that's the case, then it could very well be a great fit to add another income stream. The biggest thing here to recognize as well as there are ways that you can create what I like to call income stacking. When you have something that is making you money, and then you have another stream that is also making you money at the same time you're able to stack that income potential.
Of course with your network marketing, if you follow things or at least if you're in the Stop the Hey Girl Circle, you know that growing a network marketing business, for the most part, is for most of us, on average, a steady increase over time. But a lot of people have told me and have shared with me over the past couple of months and honestly years at this point that they understand that their network marketing business is going to be a gradual pace of growth, it's a gradual increase, but they really want to up the ante on their income potential.
So, what are the potential solutions? If that's the case, right, if your network marketing business is growing pretty comfortably, pretty steadily, and you want to double or even triple your income, creating another offer makes the most sense not joining another network marketing company necessarily, not necessarily focusing on selling more products within your network marketing company, because all of those activities are great. But those are contributing to the gradual growth, it's not contributing to the double or tripling of your income. So if you have an income goal that you are really focusing on in 2022, then that is absolutely a sign.
However, what are some things that you're going to want to have in place before you start doing it right, you have to have some sort of idea, if you don't have any idea whatsoever, that it's not a good time. Because obviously, you have to have an idea to move forward with, you have to be ready to commit to exhibiting some sort of structure in your business. So if you are someone that does not like structure or does not like planning, then you are probably not ready to add another income stream. You also have to be at a point where you are comfortable putting yourself out there online if you are not comfortable putting yourself out there online, but you want to have two offers or two income streams that are mostly online-based to build your business, then you are likely not ready to create another income stream.
The biggest thing you want to remember here is that when doing this, right, it is not sacrificing one for the other, when you have a plan. And you actually have a strategy with tactics paired with it, you get to do both. And you get to have both businesses, right. You've seen leaders in your company, they have been doing this for the past year, plus, you see people who are still rocking it in their network marketing business. And they also have a growing coaching offer or product based off or on the other side, you get to do both, but so many think it has to come at the expense of the other. But that is not what I teach. I teach how you can have both, but you have to have the right systems, you have to have the winning system in place. So that one continues to make you money while you're building up the other. And I can't wait to show you how to do that. You heard me talk about this.
Now, I have run up my Thank you Next mastermind for two years. But in 2021, I only did one round. And I will tell you why I recognized that there were so many things that I wanted to teach. And people were still coming, thinking that they had to sacrifice other things in their life or sacrifice their network marketing business to build this coaching offer. And that is not the case. So I decided not to run a second round, right? I completely cut that out of my business in 2021. Financially was that rough, of course, because this is the highest touch way that people can work with me. And so I made the decision to not run that second round in 2021. So that way, we could pull the curtain back and look at what things need to exist. And in what order to maximize the potential that someone that has family, kids, busy life, maybe a career outside of their business hobbies. How is it that we can structure this so that even the busiest of people can create an offer while still bringing in residual income and or growing their network marketing team?
So that's what we spent the latter half of 2020 2021 I can talk today 2021 doing. And that's what we are enrolling as of January, we rebranded the mastermind, the intuitive pivot mastermind, and I'll tell you why the word intuitive came up because when I checked with many network marketing leaders, some of the very top of companies who have added a coaching offer in 2020 and 2021. I asked them I said how did you know that it was time? Almost all of them said intuition. And so that word really stuck with me. And that is why we rebranded the mastermind applications will be going up I am not doing a fancy sales page. I'm not doing anything crazy. I'm pretty much talking to people exclusively behind the scenes for this mastermind because we are keeping this group very tiny because again, these systems are not for everyone. Multiple income streams are not necessarily for everyone but if you're feeling pulled, it's for a reason. So you know you can go ahead and shoot me a DM on Instagram.
I can't wait to potentially be a part of the launch and sale training to help you out with that offer in 2022 because when you have the right systems in place, you can absolutely have two businesses and two offers that run amazingly at the same time.
I will see you next week.