by Eugénie | Dec 15, 2017 | Lifestyle & Fun, Marriage & Relationship, Money & Finance
The difference between real suicide and financial suicide is that in real suicide a person voluntarily and intentionally take their own life while in financial suicide a person voluntarily but unintentionally deplete their funds. And so it is very easy for someone to get into situation(s) that allow financial suicide to take place. Financial suicide happens as a result of something that was previously done. It is the effect of a cause. Here are 7 Ways You May Be Committing Financial Suicide.
1. Marrying the Wrong Person
One of the biggest decisions any individual can make, is choosing to get married. Choosing whom to marry is an epic decision with major implications, and there are many aspects to consider, discuss, and come clean about before making that big decision to marry. Unfortunately, the financial aspect of the relationship rarely gets discussed prior to many couples getting married, which has proven to lessen the survive-ability of those marriages. Remember: Marriage is also a financial contract! As such, it’s always a financially dangerous proposition, and should not be conducted without the proper pre-marital investigation of both parties with full disclosure, and a viable financial plan discussed and put in place. Also, there are countless “responsible” people who ended up bankrupt due to the actions of a financially undisciplined spouse. You can go into a marriage with the most assets, funds, and the most at stake, and you could lose it all – if you do not protect yourself from the beginning. If you are getting ready to be a bride, take note! Don’t take the plunge until the financial situations are disclosed, discussed, and decided with a plan. The average cost of a divorce is approximately $20,000, and that does not include any assets you stand to lose in your divorce. Be smart, savvy, and strategic in your premarital decisions and avoid financial suicide.
2. Living Above Your Means
Trying to keep up with the Joneses is a sure way to commit financial suicide. Yeah, we all like nice things! And what “nice things” are for me, may not be nice things for you; however, the criteria of what’s desirable is usually decided for most of us by our peers – famous, popular people in our age range. This desire often lead an individual to strain their finances to live in the same neighborhood as the Joneses, drive the same car as the Joneses, wear the same designer clothes as the Joneses, join the same clubs as the Joneses, eat at the same restaurant as the Joneses, take as many vacation to the same destinations as the Joneses, send our children to the same schools as the Joneses, and the list goes on and on. This type of living – if not carefully planned for, will wipe out every dollar, dime, and penny into financial suicide instead of financial prosperity.
3. Failing to Accurately Track Income and Expenses
Trying to get a handle on your personal finances without knowing how much money you are earning, and where it is all going, is tantamount to trying to drive while blindfolded. People who fail to take the time to analyze their finances typically end up crashing and burning because they lack a means of ensuring they get the most from their income. As with anything else, if you are taking out more than you are putting in, it will definitely be a matter of time before it is all depleted. So, whether or not you are keeping up with the Joneses, make sure you are accurately tracking and managing your finances. To do otherwise will have you committing financial suicide.
4. Failing to Establish a Plan for the Future
The young always seem to have more time than money, which is why financially important things like putting aside money for short and longer-term emergencies or feathering a retirement nest egg, are often never even considered until people approach their golden years. Of course, by then, it’s usually much too late. The old cliche really is true: Failing to plan is the same thing as planning to fail. The best time to start planning is always when you are younger; however, regardless of where you are in age right now, you need to start planning for those days when you are no longer able to work but still must survive and thrive. If you do not have ample amount of savings, you will run out of funds and end up committing financial suicide.
5. Abusing Your Credit Cards
Credit Cards are powerful! And can help you get ahead in many ways. However, without the proper financial knowledge, acumen, and discipline, credit cards can be detrimental to your financial health which could also lead to other personal ruin. If you haven’t yet gotten a credit card, learn how to use credit cards responsibly before doing so. It is also important that you not get a credit card if you do not have a secure job, or have a substantial amount of savings to use to pay the minimum balance in the event you lose your job. Using credit cards without proper planning can catapult your debt, ruin your credit, and result in you committing financial suicide.
6. Having Unplanned Children
Like any other huge decision, a plan should be in place for having a child including a time to start the conception process after the proper necessities are put in place, to ensure them the resources they will need. There is nothing more destructive to one’s financial future than bringing children into the world without having an established and stable means to support them. Raising children requires a tremendous investment of not only money, but time and commitment as well. Unfortunately, when those resources are in short supply, it becomes extremely difficult to maintain a stable home environment, meet basic needs, and accumulate wealth for their future and yours. This is not only unfair to you; it is unfair to your children as they did not ask to be here, and now without the proper provision they will be guaranteed to go with you into the financial suicide you are committing.
7. Maintaining Financial Dependency on Others
This is a disaster temporarily averted! It is a known fact that people who are being taken care of by others – financially and otherwise, will take full advantage of that situation and not try to help themselves. This is detrimental to the dependent, and I’m talking about grown, able-bodied adults – not children. This behavior has developed in them a dependency attitude that will cripple them in the long-term and leave them financially disabled. People who are taken care of by others are not usually working at enhancing themselves to come out of their dependency, but are instead becoming fixated and permanently financially disabled. For this same reason I’m absolutely convinced that the longer people remain dependent on government assistance or friends and family for financial support, the tougher it will become for them to achieve financial independence. What will happen when those sources are no longer available? They have already committed financial suicide and may now find themselves committing real suicide. Don’t leave your most important asset – yourself, to others! Get your priorities in order and move towards financial independence.
So there you have it! 7 Ways You May Be Committing Financial Suicide.
Unlike real suicide, financial suicide is not a death sentence! And it does not happen immediately! If you are committing any of the 7 financial suicide listed above, you have a chance to stop and turn it around in your favor. Remember, the first step is acknowledging, then and only then can you move forward in doing something about it. Make the change!
Xo,
by Eugénie | Dec 10, 2017 | Branding & Marketing, Career & Business, Funnel Power, Money & Finance
Successful businesses take time to build, but with the right tools in place, that time can be immensely shortened. As a matter of fact, if these key tools are not put in place, a business may not see success at all. And these vital tools are technology related – digital technology. Gone are the days when you could go about business as usual without keeping abreast of what’s going on in your industry, and still have a flourishing business. Technology has changed the way we do business, and the way people do business with us. There is a new way to be noticed and your business can suffer hugely if it is not on board. I know, as women entrepreneurs, we often buy into the idea that technology is a “man’s world”. But man’s world or not, technology is something that we will need to embrace if we are going to experience growth and prosperity in our business. So, why is your business not successful? Here are five (5) missing links to your business success.
1. Sales Funnel
A Sales Funnel is the blueprint for your customer’s journey from being a curious spectator to a paid customer, and subsequently transitioning to a raving fan and possibly your brand ambassador. You see just because you helped them with a particular goods or service does not mean that you will always be ahead of them or have a bigger network. I have helped many women who had no community but had the potential to command a huge community, go from zero people in their community to thousands in their community, by helping them become visible in this digital age so prospects – their ideal customers, can find them. And, I can assure you, if you give them what you promised in their first interaction with you, you can expect them to: a) do business with you again and again, b) talk about your goods and services with their family and friends, and c) share stories and @mention you to their audiences on their social media platforms. So the Sales Funnel is the first of five missing links that you must implement in your business in order to succeed in this digital age. Learn more about Sales Funnels and what Beyoncé was able to do with her Formation Sequel.
2. Social Media and Community Building
Building a tribe – a selective, relevant group of people who are interested in what you do, as well as social influencers in similar areas of expertise, is a crucial component for your business success. And thanks to our technological advancement – social media is here to help us concoct this very essential task – seamlessly. How do you get social media to work for you? By setting up separate pages and groups for your business, fashioning your public persona across the social media sphere to tie in to your business model, using your business pages as well as your personal pages as your lead magnet source and tripwire, and channeling them all to your business website’s relevant pages known as your landing pages. Here is my WERK Your Money Making Genie landing page which is a great example of a landing page. Using the Social Success Cycle – a term I was introduced to by Ryan Diess and Russ Henneberry from Digital Marketer in their Social and Community Manager certification program, you are able to maximize your social media efforts, and also get maximum results from minimum time. It includes:
1. Social Listening – what is your target audience talking about? What is their biggest concerns?
2. Social Influencing – Are you sharing content that answers their concerns?
3. Social Networking – Are you connecting with influencers on social media?
4. Social Selling – Are you sharing and making your offers on social media?
So, social listening is first, and social selling is last in the Social Success Cycle. Don’t mess up on this! A lot of people do! You cannot start out trying to sell without listening, influencing or networking and expect to accomplish your sales goal. Like you would in a romantic relationship, date your audience first, then you can ask them to enter into a financial relationship with you. So, this is the second of five missing links that you must implement in your business in order to succeed in this digital age.
3. Email Marketing
Email marketing is not dead! It is very much alive. Having followers on Facebook, Twitter, Instagram, Periscope is wonderful but you must get those people on your list. Why? Because a) you get to nail down who those people are that you are resonating with, b) you get to send them direct messages and see how they relate and interact with it, c) you get to fashion your offers to cater to their needs and d) if those third-party platforms close your accounts, you would lose all your followers which means zero contact with them. I know it is highly unlikely to have all your social media accounts close out all at once but many of your contacts are not all the same on all platforms, and again the benefits of having an email list, trumps the time and effort it will take to build that list. This is the third of five missing links that you must implement in your business in order for your business to succeed and thrive in this digital age.
4. Content
We are living in an information age, and although it can be overwhelming and is for many people, you need to get in on the fun if your business is going to be found and noticed. What you have to share is important and can change people’s lives, right? You wouldn’t be doing this business if you didn’t believe in it and thought it could help others. So you will fashion your content to showcase yourself and your business, how you as a brand will help make their lives better, and position your content so they can access them – effortlessly. Stephen Curry, my fave basketball player who is the point guard on my fave team – the Golden State Warriors, did a piece about the noise – in salute of veterans and those whose voices are not being heard – called “The Noise”. And it’s his version of what’s going on in this information age and how you can make your noise (which is substantive and needs to be heard) louder than the “common ineffective noise” (which is just “empty” noise). So, how do you separate yourself from the noise in this noisy information age? Getting your content out there is the only way for your ideal tribe – the people who resonates with you to access what you are about and get on board in whatever ways they need. But it has to be developed and targeted to your ideal customer. You cannot, will not, and should not aim to write for everyone. Instead you will write specifically for your unique ideal customer and thus be more effective in reaching them and having a bigger possibility of converting them from fans to paying customers. So this is the fourth of the five missing links that you must implement as part of your sales strategy in order to succeed in this digital age.
5. Paid Traffic
Regardless of how optimized your website is, it is going to be extremely difficult to get organic traffic to your website, and you need traffic in order to sustain your business. So, if you are just starting out in the social media sphere and you do not yet have a following, you will need to invest in paid advertising to kickstart those traffic rolling in. The good news is that all the popular social media platforms offer the opportunity to advertise on their platform at minimal cost. This is amazing news! Especially since they allow you to set your advertising cost and target specific demographics. So, figure out where your audience hangs out and start advertising there. You can start with a small budget and work your way up, as you sell more products and services. This is your fifth of the five missing links that you must utilize in your business in order for your business to succeed and thrive in this digital age.
So there you have it! Five Missing Links To Your Business Success In This Digital Age
Regardless of the type of business you run, if you are not already an established BIG name business such as Apple, Toyota, Virgin, or Tesla, you need to implement these five (5) missing components in order to be successful.
What other tools are you using in your business that are helping to make it a success? Do tell!
Xo,
by Eugénie | Nov 12, 2017 | Lifestyle & Fun, Marriage & Relationship, Money & Finance
Money and finance is the most influential, dependent variable in relationships, and the aspects of how they are handled in the relationship will be the deciding factor on the health of the relationship or the breakdown of it. Misalignment and mismanagement of money in relationships are the number one stimuli for arguments, mistrust, and resentment in relationships that most often lead to breakup and divorce. It may be surprising to learn that many couples who date and later marry have never discussed their individual personal finances before they get married, and this is a dangerous practice that will not only lead to divorce but can cause the partner in better financial standing to lose their money. Merging together in marriage is serious business! Not only are you entrusting someone with YOU – physically, mentally, and emotionally, but you are also entrusting them with your finances – your lifeblood which allows you to live the kinda lifestyle you enjoy, and make plans to enjoy later on when you retire. When you get married, you two become one! But you know what else become one? Your finances! You are responsible for mishaps or financial infidelity your partner makes, and vice versa. Therefore, it is imperative to examine your partner financially in order to know what you are getting ready to merge with, before getting all in.
Get Financially Organized Before Committing To Marriage & Ensure Your Partner Is Too
Before you enter into a serious relationship with someone, you need to consider your own financial situation whether it’s your debt, your credit score, whatever the case is with your finances. Know your financial stance so when you come to the table to scrutinize their financial situation, yours will also be in order, because they will need to scrutinize yours as well. And if they don’t, I would really be looking at them through the side eye and not taking them seriously. You cannot enter into a relationship half stepping and expect your partner to be full stepping, and neither should they. It doesn’t work that way! At least not long-term! And what may start out as a fun, romantic, happy relationship may end up falling apart when the ooowww and aaawww phase of the early stages of the relationship are over. (And it will!) Especially, if not done right, with the kind of full disclosure and premeditation that needed to take place prior to jumping in together. And as Dr Boyce Watkins wrote in his book Financial Lovemaking 101: Merging Assets With Your Partner in Ways That Feel Good, “I recommend not considering having financial sex until you are ready. Getting ready doesn’t necessarily mean increasing your income, since income isn’t everything, it means spending time working on your own financial habit before getting someone else involved.” Examine your financial situation and be prepared to examine your potential partner’s financial situation, as well as have him examine yours.
Discuss Finances Before You Get Married; It Is Too Important To Ignore
Like any other partnership, knowing where each other stand financially before making any commitment, is not only common sense but it is crucial to the health and survive-ability of the relationship. Does each partner have debt? How much debt does each have? Is it good debt or bad debt? How will you work together to lower or eliminate those debts? Will you be combining those debts and working together to lower or eliminate them? Or will each party work to lower or eliminate his/her own debt? How are the credit histories looking? Who has been better with money? Who stands to lose more if the marriage collapses? Will you be instituting a prenuptial agreement? How will you navigate the financial aspects of the partnership once merged? Who will be responsible for what? Will each party have their separate bank account and another that is merged for each to use for the partnership? Will a life insurance be established for each other? How will each party keep the other accountable? These are just a tip of the iceberg on the questions that should be asked and the financial examination that must take place prior to entering into marriage – if the goal is to have a lasting, happy, and fulfilling marriage.
Make Love to Yourself Financially Before Inviting Someone Else To
Money allow us to take the utmost care of ourselves. It creates for us a bedrock where we have choices in the way we eat, sleep, take care of ourselves, and live. As such, establishing a solid financial foundation is vital to our well-being, and instrumental to the way we are treated. If you love yourself, your physical well-being will be a reflection of your financial well-being. When you show that you not only place importance on your physical well-being but also your financial well-being, you can be sure you will get a lot more respect from your partner at the beginning of the relationship which will have no choice but to spill over and continue throughout the relationship. As humans, we tend to treat people based on the way they treat themselves. If they love and respect themselves it will translate in their words and actions, and if they don’t, then that too will translate. Why do you believe that poor women who marry rich men and vice versa are abused so much? Because they have left their most important priority – their finances, up to someone else. Remember, our finances allow us to care for ourselves, and live the lifestyle we design. If we value ourselves we will not leave that most essential part of our livelihood to someone else. And so people with money know and understand that, and have devalued you based on the way you have devalued yourself. There is no way that those rich partners would allow themselves to be broke and resort to depending on someone else finances – long-term. Not gonna happen! So this is huge to think about when planning on marrying someone wealthy or financially secure. If you are not bringing anything to the table, nine out of ten, you will be taken advantage of. Having your finances in order is the highest form of self-love, a love that cannot help but command respect.
Too many people are committing financial suicide by entering into marriages without first checking their partners financial pedigree, or lack thereof. Make sure your financial situations are all in check before you move to attach someone else to it. And after you work at getting your financial T’s crossed and I’s dotted, make sure the partner you are planning on merging with, have their T’s crossed and I’s dotted as well. Do this one thing right – from the get go, and you can expect to: avoid financial suicide, experience financial prosperity, and have a more stable, happy, and transparent marriage.
Xo,
Disclosure:
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by Eugénie | Jul 17, 2017 | Inspiration & Motivation, Money & Finance, Self Empowerment
Money, money, money, money (sing with me) money!
Money, money, money, money…money!
Hey guys, welcome again to another blog post where I’ll be discussing the BIG one – MONEY! Only this time it will be about the MINDSET. Yes indeed, a shift need to happen first before you can start to really make the money you so long for and deserve. Everyone wants to know how they can make more money, and with good reason! I mean, how many things can we possibly get done without money?! Really, barely anything!
I’m discussing this today because my inbox overflows constantly with people all over the world asking this very question, “how can I make more money?” And the simple answer to this is, shifting your mindset about money, and start capitalizing the result of that shift.
I’ve developed a system which is designed for you to not only look externally for solutions but to most importantly look inwardly for solutions. We’ll talk more about this later on, but for now, here are the main things you need to do in preparation for this new money abundance to manifest in your life.
The first thing you need to do is to change your money mindset. Meaning, change the way you view money, treat money, interact with money. If your mindset about money is that it is unreachable, unattainable, and just impossible to get a hold of, then your actions will undoubtedly work in accordance with your view of lack – and the impossibility-ness (yea, my word) of getting and retaining it. Stop with the limiting belief that it can never happen for you, and only a select few were meant to experience monetary overflow and thrive. Your thoughts will keep your actions in alignment with it, and thus that’s what will be manifested. Also, the way you view money will reveal itself in the way you treat and interact with money. If you see money as the “root of all evil” as some people see it, then that’s exactly how you will treat it. And if you know someone is evil you’re not going to treat them with respect, right? Well same thing with money, if you think it is evil or not good for you, then of course you’re not going to treat it with respect, and money command respect. If you respect money and the power money affords, then you will no doubt treat it with respect, and thus do the things that allow money to be attracted to you and want to stay with you. Respect money and keep it, disrespect money and lose it. This may sound pretty simple or unreal perhaps, but we are connected to this universe and there are vibrations constantly operating inside and outside of ourselves, and those vibrations oscillate based on what we are experiencing and most of all – how we view what we are experiencing and deal with them. I’ll probably be touching on this at some point later on, so stay tuned.
What I find in my assessment of dealing with people around the world as far as making more money, is that many of them are doing way too much and creating far too little. In other words, the returns on their investment – be it time, money or other resource – is way too minimal and not at all conducive to maximum results.
In order to make more money you don’t necessarily need to do more. You just need to be effective and more efficient. One way of doing that – if you are a service-based business individual, is to stop charging for the hour you are actually present doing the work, and start charging for the value of the work. In other words, charge them a fixed fee based on what you know your service is worth, regardless of the number of hours you spend actually doing the work. You cannot allow your client or prospect to tell you how much your service is worth. They can tell you how much your service is valued to them but only you decide on your cost or the value you place on what they need to get done. The other thing that you can do, and should do, is to find a way to package your services or one aspect of your services so that you can monetize that regardless if you are sleeping or awake. As billionaire Warren Buffet rightly said, “If you don’t find a way to make money while you sleep, you will work until you die.” And I want to add “work until you die” without ever living the life you dreamed. Also, find ways to automate things in your business that can be automated and delegate tasks that others can do without jeopardizing your business in any way.
If you are operating a product-based business, then your products can already be in automation and monetization mode, if you make them accessible online. Making your products available only when you are able to open your brick and mortar storefront will not help you make more money, and definitely not allow you to maximize your profit potential.
If you are an employee wanting to make more money, apart from asking your employer for a raise, the only other way to do that is either a) find an additional job or b) start selling something that either you make, get made, or something that you can do. For example, writing a book about something that you know a lot about that is also relevant to our times, or starting a blog or podcast sharing what you know a lot about and monetizing it. Choose what you want to do, and execute it well! Again, as far as finding another job, there is only so much you can physically do, and if you’re not careful, you will experience a real burn-out. So the second thing you need to do in order to make more money is to get systems in place to pull money in on auto pilot, and subsequently put those monies to work for you. Invest your money! We’ll be talking more about this later on, so be sure to subscribe to this blog so you can get more info on this when those posts are published.
The third thing you need to do is to be knowledgeable about your current financial stance, set S.M.A.R.T. goals based on where you are now and where you want to be in a realistic time-frame. Institute an effective financial system, and ensure that system’s procedures are adhered to, at all times. If you delegate your financial tasks, be sure to stay connected and in the know so you can ensure you remain on budget and your money only go where you need it to go.
So make a concerted effort to shift what needs to be shifted, and align what needs to be aligned so that you can start making the money you need to, and ultimately get to your peak destination – whatever that marker is. I’m not there yet, I’m still on my journey! As a matter of fact, I’m not even sure if there is a destination to making money cause really I do not want to stop. I shouldn’t stop having money flowing in, because until I take my last breath here on this earth, I will continue to need money in order to not only survive, but to thrive.
So there you have it! How to get your millionaire mindset on so you can start making more money. Make your self-assessment, strategize and implement your plan of action, and start executing.
Please leave a comment below letting us know how this has helped you, and also like us on our social media platforms.
Until then!
Xo,
by Eugénie | Jul 6, 2017 | Money & Finance
7 Income Streams To Uplevel Your Net Worth
If you’ve been following me for a while now, you know that I go hard when it comes to money and building wealth. How else are we going to properly take care of ourselves, like really take care of ourselves if we do not accumulate wealth? And for those of us who have children, what about their posterity? Not gonna happen without money! And lots of it! So we must all learn how to attract and accumulate wealth.
“If you don’t have time, then you must have money. If you don’t have money, then you must have time. You can’t NOT have one or the other.” Eugénie Nugent
The biggest problem many of us have, is trading TIME for MONEY. There is no LEVERAGE! There is no way on God’s green earth that anyone can trade their time – literally, for money and become wealthy. No way! If you have to be physically present to earn, then how much money could you earn so? How tired and exhausted will you also be in the process of trying to earn enough to fulfill your everyday monetary obligations?
It doesn’t matter what type of job or profession you have – doctor, lawyer, nurse, engineer, architect…you can only be present for so long and physically do so much! In addition, the amount you earn and can earn in any one of those capacity is very limiting, and definitely not wealth generating – unless you invest or automate! Ooooh!!!! We’ll be talking more about that investing and automation on this blog, so be sure to subscribe and stay tuned.
The next biggest problem is believing and acting on the premise that wealth is money, and money is wealth. Wealth and money may be interchangeable but they are two different things! Money is the means to an end, and wealth is that end. According to the Merriam Webster, “money is a current medium of exchange in the form of coins, and banknotes”, and wealth is “an abundance of valuable possessions”. Wealth is the physical and money is the means of exchange that allows you to get those valuables or possessions.
So in order to get wealthy you need to use the money to acquire value or valuables. Not all of your money! Since money is the “current medium of exchange” you need to have ample supply of cash on hand to take care of your day to day, month to month, year to year responsibilities and needs as well as enough cash reserved or stashed in the event there is an emergency. Assets or possessions such as your home can be turned into cash or exchanged for cash, but not as readily as say a piece of jewelry. For this reason, among others, it’s important to also have various types of assets including liquid assets – assets that are easiest to convert to cash. (I know I started sounding accounting, but that’s a huge part of my background. Stick around and you will become accounting savvy too!)
This next huge problem is unfortunately what most people are faced with – using up all our time, exhausting ourselves with 9 – 5 and still barely able to make ends meet with our five (5) biggest and necessary expenses – mortgage/rent/utilities, medical/dental/self-care/insurance, food, clothing, car/transportation – let alone getting to any item on our bucket list. In other words, existing but not living.
So without further ado, here are seven (7) Income Streams that can Uplevel your Net Worth:
Income Stream #1: Books
Books, books, books, love books! Both to read, and to profit from! Yes, you write a great book once, and you can profit from it for life. And did I mention royalties? Royalties rule! Those small consistent portions of monies coming in can truly enhance your net worth, especially if you have multiple relevant books. You can publish several books in a day. Ok? And as far as writing, that can take however long you permit it to! Or however short! Some people have actually written and published a book in a month, but depending on the type of book you are writing it may take less or more time. However, the main point is, books no longer need to take forever to write or publish. If you really want to get your books out there pronto, you can! Now with book royalty you currently get between 10 – 15% of the cost of the book, so if you sell your book for $15 you get $1.50 for each sale of your book. That is exponential and never ending as long as your books are being sold. Now can you imagine having 10 books – especially bestselling books? Your residual Income could up your Income ally and increase your chances of ever getting to your million-dollar mark. I say get to writing already!
Income Stream #2: YouTube
Listen ladies, it’s no longer a choice to be on YouTube! It’s a necessity! YouTube RED and Pay-Per-View videos can make you so much money! Whatever it is that’s holding you back from taking advantage of this powerful platform, denounce it! Trump it! YouTube’s pay-per-view option is HUGE! Just like Cable – when you want to watch your favorite specialty show you have to pay in order to view, YouTube has made that possible and you get to set your price per view for each video. Now, you have to ensure that the videos you are putting out are of real value – quality content, and that it is something you would purchase yourself had you needed that particular category of information. YouTube has become that launching place for projects! It is the second largest search engine second only to Google currently – well, Google owns it now which is making it what it is becoming – a power-tool for marketers. YouTube is the only social media platform that pays you to upload content, and that’s huge! People will pay for the quality videos you put up while you are sleeping. Yes, people are doing different things at different times throughout the world – thanks to time difference, and so they can access your videos and purchase them whenever they need to. You do not have to be available in order for them to gain access. YouTube is always open!
Income Stream #3: Network Marketing
Things have changed! No longer can you remain inside your own space and get found. You have to network, and the internet allows for that in a myriad of convenient ways. We are able to do so much more online than ever before! The entire front-end of your marketing can be taken care of before your prospects even get to you. You don’t need to recruit family and friends! You don’t need to host home meetings! You can do this entirely online! Network marketing can open doors for you that would not otherwise get opened! Share with each other, support each other and spread the word for each other – all while earning. If you want to have home parties good for you! I’ve had enough of that in my earlier years selling Mary Kay products. It was a lot of fun and great while it lasted, but it was also kinda like the only way to network back then – twilight days – no Internet. But today, you can make so much more money networking remotely. Thanks to the Internet! That’s a huge part of what it is all about! Bring amazing people into your circle. That’s what we do here at My Blooming Biz Power Circle. Whether you invest in, or start your own network marketing company, this type of income generation can increase your net worth – exponentially, and yes you do need people – a tribe, a circle to get you going.
Income Stream #4: Information Products
Yesssss! This is the information age! Again, like books, you write it once and continuously benefit from it – reaping the rewards. Regardless of where you are or what you are doing, your info products can be channeling in the money. This is a no brainer! If you know something that you can share that is relevant, you need to package that into a nice ebook and start capitalizing it. I want to share with you a very vital resource that I use, with a simple setup that can make your info products go from “where are you?” to “There you are!” And that resource is Gumroad. Gumroad is one of the fastest ways to setup your info products, and help to get them found. I really like their approach. They make it so easy to create your projects, you can have your info product up and running in no time at all – like literally in one sitting. You can create videos, PDF, audio training. Go to freeconferencecallhd.com and setup your FREE account. Next, you want to call into your conference call line and press record (*9) and start recording your info piece. Once you are done recording, just go ahead and hang the phone up. You can then have those info pieces transcribed (check out fiverr.com for affordable help doing this) and have them ready in little to no time at all. Now, all you have to do is open your account on Gumroad, link with your Paypal account (that’s how they pay you), and upload your info products. (If you do not already have one, it’s pretty simple to open an account with Paypal) People love great info products! Don’t you? Well, let’s make the most of this information age. Decide what you want to talk about and share, then start selling them on Gumroad. Love me some Gumroad!
Income Stream #5: A Portfolio
Today, it’s easier that ever to Invest! And you have choices! You can choose to invest in stocks, real estate, gold, silver and a whole lot more. Go to sharebuilder.com or capitaloneinvesting.com as Share Builder is now owned by Capital One Investing, and you can open your account and pretty much start your investment portfolio with as little as $25. As their current tagline says, “This is Investing on Your Terms.” I say, “Yes, it is!” They allow for incremental, so you can do $25 every week, $25 every month, how much ever you can afford the important thing is to put some money aside in your portfolio and allow it the opportunity to grow. Very inexpensive way to get started. What I’ve also done is open an account with mint.com, and what this does is it allows me to have all of my accounts in order much like Intuit’s other popular software QuickBooks, but FREE. You can also choose to link your bank and investment accounts to mint.com and be able to better keep track of all your financials in one place and in an orderly fashion. What I like most about mint.com is that they not only keep track of your financial information, but they also send you weekly updates – snapshots if you will, of your financial stance – your net worth. Golden!
Income Stream #6: Affiliate Marketing
Affiliate marketing works! Period! One very good thing you can do, if you already have a following in a niche, is to market affiliates products to your tribe. Just put them on your website, talk about the benefits of purchasing and using them and watch your tribe buy, share and support you. It’s as simple as that, and the returns can be enormous! Also, as your website becomes more popular, more and more people will find your website based on your site’s relevant keywords, and of course your affiliate links will be right there to entice them. Affiliate marketing has been around for a while and it’s not going anywhere, so get on board!
Income Stream #7: Your Tribe
Influence, influence, influence! This is huge! People want to belong somewhere and be involved in something, so becoming an influencer in your best area is a phenomenal way to make some moola. If you are communicating and connecting with people about the things that they are passionate about, they will come on board and be a part of your tribe. The best part about having a tribe, in addition to having phenomenal, like-minded people in your circle, is the constant support they provide. The ability of a tribe to widen and strengthen your reach is priceless. Just really invaluable! They share your story on all their social platforms, as well as with their friends, family, and acquaintances – offline. Now, here’s a huge difference a tribe can make for you. Having a huge following makes you an influencer, ok? And there are companies that will approach you to place ad on your site that you set the price for, and then there is Famebit that allows you to bid on projects that thousands of brands are hiring influencers to write content for their brand and commercial/videos. Ladies, this is huge, highly competitive, but so worth the effort of being a part of. It’s actually mostly up to you, if you want to take on these projects since you are already a huge influencer in that branded area. In other words, when you have a tribe, you can participate in a myriad of opportunities on Platforms such as Famebit as mentioned and Patreon, knowing that your endeavors will be successful because your tribe will support you. Priceless!
So there you have it! Seven (7) Income Streams That Can Truly Uplevel Your Networth
Do not attempt to try them all at once! Start with one and gradually keep adding one until you are through. If you try them all at once, you’re most likely to become overwhelmed. Work your way from most viable for you, to least viable for you, and dive deep into each. You want to have a good footing in each so that it is best position to bring you the returns you deserve. There is no such thing as “get rich quick” and getting wealthy overnight. (Unless of course you win the lottery. Good luck with that!) You really have to put in the investment and time to market whatever you’re selling and set the ground-work for channeling the monies in. You also must ensure the products and/or services you are offering are relevant and needed.
When you start raking in the millions, you can uplevel some more with the big one “real estate” investment. You can do it! You are here to live YOUR dreams.
So, be sure to follow me on social media, like, subscribe and let me know your thoughts in the comment sections as well as any questions you may have. You do not want to miss out on valuable information! Cause I’m constantly learning and implementing as I go, and very happy to share the knowledge with you, so that you too can start attracting and accumulating wealth.
Until then, happy upleveling!
Xo,
