Do you have multiple streams of income in your business?

[Justin Lukasavige]

More and more I've been finding that many of my clients do not have multiple streams of income. So when whatever they're working in slows down they really feel it.

I'm developing multiple streams with a tech company I'm working with now that will pay him regardless of whether or not he's even in the country.

I've found it helpful to chart out a business using a Venn diagram. You can take a look at one here:

http://www.teach-nology.com/worksheets/graphic/venn3/venn3.gif

The very center should be your main focus and everything else should align around it. I have seven streams of income clearly laid out in my business. Anyone else find this helpful?

[Angel Lebak, Virtual Assistant]

Justin - I am working on my 2nd stream, how do you manage your time to do 7? I guess that is the key - managing- huh?

[Justin Lukasavige]

It's not something I focus on every minute of the day. In fact, speaking is one of my streams, but I only do that a few times per month.

Also, affiliate income is another small stream and that doesn't take any work at all. Whatever is in your center is where you should spend the bulk of your time. Coaching is mine. Writing is a close second, but I only spend a few hours each week on that.

[Michelle Gower]

I have multiple streams of income in my life overall, not centered around my business. Better than nothing for now! :o)

[Julie Wall]

Actually, my "day job" boss and I were just discussing this a little while ago. She gave me some very valuable suggestions about branching out so that if portraits aren't selling like hot cakes, there are other things that I can do within my studio to generate some income during down times like this.

[Teresa Molter]

Thanks Justin. I too have multiple streams of income. I'm finally realize that I don't need trade time for money! My new favorite words are leverage and residual income!

Thanks again for sharing.

Teresa