Over the years, I’ve accumulated many personal rules that have helped me establish my career and make my way to the top. So what’s my number one rule for becoming a million-dollar woman?
Simple- M$I- Multiple Streams of Income
We are all given advice from time to time, and as entrepreneurs and high-achieving women, I’m sure people are always trying to give their opinions left and right- but if you’re going to follow anyone’s advice, make sure it’s this one. Any high-achieving woman NEEDS to have multiple streams of include to create stability.
Of the 46.8 million millionaires in the world, 65% of them have at least three streams of income, diversifying their income dependence from any one stream.
You should never be reliant on only one income source. As an entrepreneur, it’ll make you less stressed about finances and put less pressure on you so you can focus on other goals or your mental and physical health.
Diversifying your income (just like you would your investments), whether you are in corporate or entrepreneurship, is extremely important as it creates stability and increased opportunities.
M$I enables you to work smarter, not harder (a key principle at The JW Method). We need to get your business, career, and money working FOR YOU.
If you’re an entrepreneur, M$I can look like:
✶ Optimized Service/Product Suite (EX: Intensive → Group → Private → Consulting)
✶ Passive Products/Courses
✶ Corporate Consulting
✶ Speaking Engagements/Keynotes
✶ Investment Income
✶ Strategic Partnerships
✶ Freelance Work
✶ Commission Affiliates
If you’re an entrepreneur, you’re already setting your own hours and working hard during every moment of your day. When you find the right balance (and at the JW Method, we put a huge emphasis on work-life balance), you can learn to make time for your other streams of income.
If you’re in corporate, M$I can look like:
✶ Salary + Bonus
✶ Employee Share Purchase Plan/Stock Share
✶ Earned Equity
✶ Side Business Income
✶ Investment Income
✶ Speaking Engagements
There are so many ways you can add another stream of income if you dig a little to find something that works. For example, side hustles are hot right now because being successful is sexy. You can turn a talent you have into a side job, just to have some other source of income to make your life more stable and get that cash flowing in. (dollar sign and champagne emojis)
If you currently don’t have an optimized M$I stack, we gotta have a lil chat, babe. 📈
Remember- you’re already successful at what you’re doing. By adding to your sources of income, you’re only making yourself more successful- you have nothing to lose and everything to gain, and you definitely have what it takes to get there.