Clever entrepreneurs understand the power and importance of building multiple income streams.
A 2020 study from Finder revealed how many Britons have some cash set aside for a ‘dark day.’
Here are some of the latest figures on who has the savings:
- The average Brit saved £6,756.81, but many people don’t have that much.
- 40.93% of Britons do not have enough savings to live without income for a month.
- 1 in 10 Britons (9%) have no savings.
- A third of Britons have less than £600 in savings.
Experts recommend saving three months on living expenses.
Don’t Cry Over Spilled Milk, And Start Building Multiple Income Streams
If you are an average person, have an average bank account without saving, a standard job, a family to feed, and basic bills that consume a large percentage of your earnings.
The odds are against you.
If this will make you feel better than check once again on statistics above and acknowledge that you are not alone.
I learned from my own financial mistakes that what’s happened it’s happened, I can’t change it. But, I can learn, and make it better for the further.
Starting a business can be a difficult task regardless of financial status, but the degree of difficulty grows far higher the lower you are on economic class hierarchy.
Related: Changing The Generational Patterns
Over three years ago I lost almost everything in my life.
I ended up sleeping in a hostel in London with another five people in the room.
Now I run an Athletic Lifestyle Business with multiple sources of income.
That’s including an online academy, speaking at universities, giving corporate advice and signing a sponsorship deal for the upcoming ultra running challenge.
START YOUR FREE CLASSES TODAY: “UNSTOPPABLE COURAGE TO CONTINUE”
Success doesn’t happen overnight
The lifestyle business is gaining a bad reputation for working with less reputable internet marketers.
You’ve seen ads promising quick cash, million-dollar profit in a year and a life of luxury – if you buy their course.
Well, maybe even after 23 years of being an entrepreneur, there is still something I don’t know about running a business.
The secret formula for getting rich in a few months. Somehow it never worked for me. Building a profitable business takes time. Don’t rush the process as this will not take you anywhere.
Building a lifestyle business is a revolutionary move
Before I move into the ways how you can build revenues for your Athletic Lifestyle Business. I have to warn you but giving a piece of advice at the same time.
In the short term. It may not be popular after you tell your coworkers, friends, and some family members that you are starting to build a lifestyle business.
The painful truth is that everyone wants to see you grow until you outgrow them. This is the reality of the society we live in. There aren’t many people who want to see you do better than they do.
In the long run, you will be grateful that you did not heed the criticism and choose a radical move to improve your mental and physical health, as well as your financial freedom and security.
Rather than being an option for the weak, lazy or uninspired, the decision to build a lifestyle business focused on making you happy or doing good in the world is a radical statement of counter-cultural values.
If your lifestyle business idea proves that round-the-clock work is not necessary for fulfillment and success. It will create uncomfortable true for workaholics and make them truly annoyed.
This is a move for the brave, not the shy.
Building financial freedom and security through multiple income streams
I have been through this many times in my life, and all entrepreneurs know this. Spending more time on work, do not always translate into higher revenues and income.
Lifestyle Business is your chance to build financial freedom and security in your company with multiple income streams and passive revenue.
I emphasize on the word ‘build’! Everything that is worthwhile, stable and last for the long term, takes time and effort.
The goal of the lifestyle business is to keep the word “life” always at the beginning. Making taking care of yourself and your loved ones a priority!
Online revenue streams for a kind of Athletic Lifestyle Business that I run and you can build too, include selling webinars, courses and masterclasses, as well as client coaching and virtual corporate consulting.
At the moment, with the coronavirus outbreak. I cannot use my main source of income, which are sponsorships for ultra-running challenges, workshops and speeches at universities and for businesses.
It took over two years of consistent work to build all of these revenue streams. And I started from scratch building my profile as a new and unknown industry expert.
Remember that it all starts with building your audience. By adding value through free content and training, such as webinars, guides, eBooks and videos highlighting your expertise.
When you build your email list, personal branding, social media presence and network – your revenue naturally increases as you sell your products and services to a growing base of potential customers.