November 3, 2022

EPISODE 252: 3 Questions to Ask Yourself If You Have Thought About Having Multiple Streams of Income

Have you thought about having multiple streams of income? If you’re a business owner or entrepreneur, chances are you have. 

In this episode, Kat is walking you through the most important questions you need to ask yourself if you’re seriously considering expanding your business to involve multiple streams of income. She starts by discussing why it is that you’re craving this expansion before she dives into discussing how persuasion affects your credibility. Then, she asks you the key questions you need to ask yourself before diving head first into establishing multiple streams of income. 

From the skills you have to help people win to your security in your ability to sell anything, this episode will give you the reality check you need to launch any idea or new endeavor with confidence. So tune in, take notes, and let Kat guide you into working smarter as you expand your revenue streams.

We cover:

  • Why do you need multiple streams of income?
  • How does persuasion affect your credibility?
  • Do you have the skills to help your people win?
  • Why and what is your reason for pivoting?
  • Is your ability to sell anything or to start anything more secure?
  • How to be the person people want to buy from
  • Why being in alignment with your relationship with money makes everything make sense

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Hey, welcome back to the podcast. This is Kat again. And I’m a master trainer and co-guide culture, and master sales trainer for school of sales, which is our sales training program. And we really believe that meaningful conversations done well can lead to more sales. And those sales can pay off in financial commissions, or life missions. So that’s what this podcast is all about. And, you know, when it comes to sales, there can be so many different thoughts that come about, right. And one of them that we just had a really good question in our Instagram messages about yesterday was about multiple streams of income, multiple streams of income, if you know how to sell, and all of a sudden, the world opens up to you. And you realize that you could sell one thing, or you could sell multiple things, you can do so much.

So should you have multiple streams of income? I mean, if, if you’ve been on Instagram more than 10 times, you’ve probably seen a post reposted, that says, you know, most millionaires have at least seven streams of income or something like that. And, you know, it’s usually the, you know, someone who has a business opportunity, really building their case for why you should also add on a business opportunity, and I get it, you know, being able to help someone see that there is a way for them to add more money to their life. Like, that’s great. That’s the best intentions. The question that came into our messages was specifically around does multiple streams of income, especially when you’re selling and marketing on Instagram, you know, like a public platform? How does that affect can affect your credibility, your credibility, and credibility is defined as your ability to be believed? Your ability to be believed?

Because the difference between someone buying from you trusting you wanting to even talk to you, honestly comes down to that ability, the ability for them to believe that you’re worth buying from that your product works, that your service is valuable, right, they need to believe you. And that is honestly why persuasion skills are so powerful. persuasion skills help you get through to people, the word actually breaks down into per and swayed. And per means through and sway can be looked into the root of the word as sweet. So to get through to someone, like with sweetness with a delicacy about you with a palatable nurse with a easy to digest way about you. Okay, so anyway, persuasion skills are absolutely powerful. If you are wanting to sell period, especially if you want to be credible enough to buy from now.

There are multiple messages out there about should you do this? Shouldn’t we do this? I would say most of the information you’re gonna come across on Instagram, you know, is do it have as many streams as whatever, because if you diversify your income and all this stuff, then that’s amazing. I heard on a podcast, gosh, this was like over a year ago at this point, but the podcast, actually he was talking against that point of multiple streams. And I’m not taking one side or the other right now. I’m just telling you what I heard. He said, you know, what, basically said, What makes you think that you can go out on multiple streams if you haven’t proven one stream. But you need to go prove yourself, create a knowledge, confidence within yourself, but have have like a way of knowing that this works that you work before we move on to more, because if you just add on more streams, and you don’t actually know how to make one work, take the number one one stream. If one stream is working, because you know how to work it, then that could be a sign that you can diversify.

But you know, you look at people like Jeff Bezos, Mark Cuban, and it just looks like they’re billionaires, because they have all these strings. But Mark Cuban would tell you and I think he has said this many times that he sold one thing for a very long time. I wish I knew that one thing right now, but I don’t have it in my head. He sold one thing for a very long time and made most of his money with that. And then he started investing and then he started diversifying. Okay, so keep in mind and then Jeff Bezos, did you know that Amazon was a only bookstore, only a bookstore for years, before he diversified into all the things now that Amazon makes money with. Plus, I mean, not to mention all the other stuff we probably don’t know about, that they have streams in. I mean, you even look at just a normal person, just kind of like your normal run of the mill, Instagram, mom, who looks like she has, you know, five, three or five streams of income. There’s so much beneath the surface, that it’s easy to see, like, oh, they have so many streams, there are coach, there are network marketing, they do this, they do that.

But there’s so much unseen. So I want you to be careful. This is kind of my warning for the episode, as I asked you these four questions that you can ask yourself, if you’re thinking about multiple streams, because I don’t want to tell you one way or another, I can be persuaded either way, I can see sides of both of this. What matters to me as your friend, your sales trainer, your podcast host is that you do the right thing by your future and by the people who you serve, that you’re doing the right thing, the best next right thing for you. So the warning for you is that there is so much under the surface and there is so much that you can easily assume what people have done, oh, they just added on, and they just added a new stream. And it’s not all of the story, if not all of the story. And I want you to know that there is more to the story. There is more than just they decided to sign up for something new.

I want you to ask yourself is do I have the skills to add another stream of income? Do I have the skills to pivot my feet and play this games business game? Do I have the skills and there’s a To be honest, there’s quite a few skills that can go into business, right? There’s honestly a skill to building the business putting an infrastructure into place the I’m sure there’s that between like all the technology and whatever, I’m still learning it, that’s for sure. The skill that you really want to make sure that you are checking yourself on is the ability to sell. Because your ability to sell will be the reason that you can get people to believe you. That’s your key to credibility right there. Do people believe you that’s a persuasion and a sales skill, it’s a good good thing. Because if you have something good and people don’t even believe you, then you haven’t even gotten to the level of the product yet, you’re not even there, they need to be sold on you and you need to be sold to you need to be sold on you, you need to be sold on your product. Because if you don’t believe you will, then absolutely no one else will.

So you need to be sold on you. You need to be sold on your product. And then other people can be sold on you. And then they can be sold on your product. Do you see the layer of sales and necessity that is here. And that is a skill, the skill to sell yourself the skill to sell your product, the skill sell people on you, this is all part of it. And everything else can honestly be learned during the process on this kind of tangent, but my biggest fear for you would be that you go build a business system. And one there’s no sales to fill. It’s like an ice machine with no ice coming into it doesn’t matter if you want crushed or cubed, there’s no ice in it. And then too, you build it and it’s really not what the people enjoy going through. Like maybe you build a mastermind, you know, and people don’t actually want that they would rather just have a course or you build a course they’d rather have coaching. I mean, who knows right?

But when you’re in the selling game, you actually have the freedom and the information from humans to create the best possible product in real time. I’m not saying sell something that you don’t have yet I’m saying do your very best but don’t obsess over it or hold it too tightly. And be really loose with your your process. Make sure that the people when that’s your end goal and honestly that’s a sell too. Because when you have the skills to sell the people who buy in your product you can keep them bought in you keep the vision in front of them you keep the value up front and center. their end goal is keeping their eye on the prize and that’s a sell because swiping their card that is the easiest thing you’ll ever do. I know why not feel like it. If you’re in a dry season. I know it might not feel like it. If no one is messaging you. I promise you if you stay at this and you keep your skills sharp that will become the easiest thing you do.

And the hardest thing will be keeping them in their, in their motive in their heart playing the game winning with your product. Okay, actually going through your course those courses have a I mean a abysmal, abysmally low finish rate it’s disgusting it’s like 20 something percent or something so if you can keep their eye on the prize because I think school of sales has something of like a 95 98% completion rate because that is a sell to help people complete it to hold them accountable to finishing it so that they win. That is your goal. Okay, so do you have the skills? Do you have the skills to do that? Because when you do when people are winning with you, regardless if it’s a product or service or whatever, even if it’s just winning with your Instagram content, you’re free content, amazing. When you have the skills to do that, the next thing you do, they’re much more likely to believe you.

But if honestly, if you’ve not been sharpening your skills if you haven’t been delivering, then like why would someone want to buy the next thing you do? It streams? Streams only matter if they’re flowing. Right. So are you flowing? That’s my question for you. That’s my first question. Do you have the skills? And are they sharp enough? If you do have the skills if you haven’t been through school of sales? Are they sharp enough for you to justify and be honest with yourself? To move around and to diversify, because we heard a quote, and then I’m done. I’m moving on to the next question. We’ve heard a quote that said people underestimate the volume it takes to get a result. I think Alex mosey said that it, people underestimate the volume it takes. And that’s what I mean with Mark Cuban and, you know, Jeff Bezos, which are totally unrelatable examples, if I’m being honest, I can’t feel like I don’t even relate to that.

But as me being maybe possibly a few steps ahead of you possibly is, I can attest that the amount of volume, the amount of posts, the amount of consistency, the amount of honestly, sales, like we just hit 1000 students in school of sales. After almost three and a half years or something, four years. It’s like, Well, four years. Anyways, volume, volume, volume, it feels like we’ve done work to have 10,000. We know what it’s volume, it’s a volume game. And that’s how you know your skills are staying sharp, because you are producing as much as you can do the very best you can. Okay. The next question I want you to ask yourself, is a little bit all these are all introspective, but this one might be more so why? And what is your reason for wanting to pivot? What is your reason? Is it because you see other people doing it? Is it because you want more money? Is it because you really really love this other thing? And it’s perfectly aligned? Is it because you’re afraid that no one likes your current product anymore? I mean, there’s so many reasons. And I want you to ask yourself, like write that down. What’s the reason that I want to diversify? What’s the reason I want to pivot?

And so many times, when you ask yourself a question like that, your first thought might be like, well, cat, I want security. I want diversity in my income because I want security. And that is such a, you know, easy thing to rattle off potentially because that’s what we’re told. More income means more security, more income means more security. So is that what it is for you? Or does it look cool that other people are doing it? Are you a little bit jealous that other people make it look easy? Do you admire people who do this? Ask yourself the question and be honest. And if I were sitting across from you in the minivan or at coffee, I would I would say you know as much as I get it that more income streams would could mean more security. Like I see that on the face of that statement. It seems obvious so obvious that sounds dumb. Think about it, what is more secure, your ability to sell anything? Or your ability to start anything? Your ability to sell anything, or more of something or your ability to start anything?

Because if you’re asking me, Kat, should I start another network marketing business that is totally aligned with my values. So I might say, Hey, I don’t know, I don’t know what you should do. What I do know is that it’s easy to start stuff. It is easy to start stuff. And guess what, when you start something new if you pivot from, you know, skincare to houseware, from this to that, I mean, whatever you added to your portfolio it’s not like it’s bad, but it’s easy to start. And when you change people, sometimes like it, they actually do want to buy from you they Oh, I already love, Katy. So I’m just gonna buy leggings from Katy. I’m just gonna buy makeup from Katy, because she’s selling and I like Katy. Awesome. You know, great. But it’s easy to start in those starts, don’t always they actually could give you a dopamine hit because you do get rewarded initially, typically. But will it last? Will it last? That’s the question that you don’t always want to answer to until you’re in it.

I want you to just be aware that it is actually I don’t want to say it’s not easier, it’s more potentially rewarding actually really believe it’s more rewarding for you to sell where you’re at, be as sharp as you can possibly be become as credible as you can possibly be. And see that that’s actually where the security is, because of guy culture burned to the ground. I mean, my husband just quit his job in the last couple of months and started something new. And now he’s in our the sales program, School of Sales program to sell. I know that with both of us having sales skills of everything burned to the ground, that we could go sell something, we could go create something profitable. And I know Macy goes that way, I know that Cortney feels that way, you can actually have security knowing that if something’s not working in your life, if your current business isn’t working, you can dig deeper and make it work. It’s not your business that’s not working. Because there’s proof out there. There’s someone successful in your network marketing business, who’s proof that it works.

So people aren’t tired of it, they’re probably just not believing you. Something about the way that you’re selling might not be getting their attention. It might not be evoking curiosity, it might not be interesting. It might not be building value, they don’t see the value. And it’s not because the product, I’m sure the products amazing. Okay, so going back to the original question, What is your reason? And challenge yourself? If you’re willing? First question I would have you ask is very simple, which is, does it make sense? Does it make sense? And this question could obviously come in a lot of different forms of answers. And it’s relative i That’s why I’m asking you, I’m not telling you, but doesn’t make sense. Because if you are, we’re living and working in alignment, which means that things are streamlined, then it probably will make sense. I’ll give you a perfect example of somebody, someone that has been on this podcast and is one of our not only a graduates of the school sales program and a coach for the school sales program, but she is one of the first franchise owners of the school sales program. And that program is actually opening up in 2023, officially, where you can host and sell your own guide culture to work. Which means that you would coach the lab host the lab and make commission on it. That’s what a franchise through school of sales is.

Anyways, Shelby Rose is that person she has been around this school sales and guide culture bubble for years now. And what I can tell you people look at her and you can look her up on Instagram, if you want to know what I’m talking about. Her name is Shelby Rose says that’s her Instagram handle. And people look at her because she has multiple streams of income. And she makes it look very easy. Not in a bad way in like the effortless, joyful, light hearted way. And I’ll tell you what the income is okay. She’s in network marketing. That was her first thing when she was a college student. She became a like I said a school sales students so she learns sales skills and has been just going hard at them for years. So she her pencil theoretic metaphorically never dulled. Okay, she’s stayed sharp for years and And when she saw how sales skills changed her business, she ended up starting a email marketing company called glow and go. And that was helping her network marketing friends sell through email, because so she took the network marketing, she took sales skills, and she matched up a baby called Glow & Co. And so she has an email marketing company.

And then just recently, when the guide culture franchise opportunity was announced she was one of the first to raise your hand and to be all in and to be bought in. And she sold out two labs, two labs, which means that 14 People bought from her wanting to be in her classrooms in her seat, and learn and be coached by her. That’s what they want. And, you know, it’s easy to look at someone like that and dig man, like, that’s cool. Like, that’s what I want, I want to be able to diversify. I want to pivot I want it to work. Like that is just so amazing. And I get it. Like, I also just admire the heck out of our sweet Shelby. She is like family, as are so many of our students and coaches. And, like I said, in the very beginning, the warning of this episode was, Do not be fooled by how easy people make this look. Because there is there is no doubt in my mind period, that someone like Shelby has not only stayed sharp, which is word and built multiple businesses, which is so much unsane work.

Because here’s the thing, when you put your hands to a business, it’s not just signing up for you know, MailChimp, it’s not just signing up for the email marketing platform. It’s not just doing all your little like pieces that come together. It’s being the person and that’s like 90% of the work. Staying in listening to the right things, keeping your spirit high, keeping your energy, your enthusiasm, healthy. Being someone who can stay full, right, emotionally. And something that you may not know, why would you know this, this is a fun fact, Shelby and I have the same exact due date, this past March and 2022. And our due dates were March 8. So needless to say, show me in our you know, talking every single day about pregnancy and stuff. The babies are born two days apart and continued okay, just talked every single day. And let me just tell you, me, Kat when I had Judah, my brain was functioning for like eight weeks. Okay, like I mean functioning. I could hardly think straight. And it was honestly discouraging, like, put me in front of Instagram stories and I could not talk. It was painful. Shelby, on the other hand, the girl was selling with Macy. Shelby was selling guide culture, I’m the co CEO of Guide Culture, and I cannot form a sentence and show me that we’re here selling. Hello. Like, what is that all about? You know what I mean?

So the girl is sharp, she is full of enthusiasm and energy and spirit. And that’s what I’m talking about. Like, do you have the skills to do this? Because the skill is not just saying the right words, it’s being the person people want to buy from that is a skill that you can be very intentional about. And people can feel that. So basically, what I was trying to explain with her network marketing, the email marketing company that she started, and then the franchise, it all works. Like she’s blowing out of the water. And it’s because of who she is. It’s because they all make sense together. They leverage one another. And it just makes sense. That doesn’t mean that it’s easy. It doesn’t mean that everyone or anyone could or should copy that method. Because when honestly when you know how to sell and you’re the right person to be selling, I have a new saying I could tattooed on my body. Everything works. Everything works. I also think that the girl could go sell solar panels. I think that Macy could go sell garbage disposals. Do you know what I’m saying?

Like, I’m not concerned with the people I know personally, who are sharp in spirit and in sales skills. I know that everything works and not just product wise, but strategy wise. If Instagram burned to the ground, great, cool. Well, we’ll do something else. We’ll stay on the podcast, we’ll stay on our emails. Macy’s tiktoks Do friggin amazing, because of our sales skills. People love to see it. So everything worked See, everything works. And I just want to challenge you. But does it make sense for you? Does it? I don’t know, I can’t say. Because when you live in alignment, things will be more effortless, they will be more streamlined, they will come more easily to somebody find the person buying will say, oh, like, I get it, but I get that her heart is just as enthusiastic for this reason.

There’s not a perfect product suite that I could tell you. But typically, the reason it makes sense is not because like, have some product feature like oh, like I’m into holistic health. So I could be with every holistic health company and just make sense. Like, no, not necessarily. It might not make sense to add 200 new products to your portfolio that’s actually can be harder to sell and more confusing. So I don’t know if that does make sense. Okay, so I’m not talking about that, necessarily. I just want you to ask yourself, like, Does this really make sense for me? Like, am I in a place? Have I been the person? Am I currently selling what I have? And that will be an indicator to either wait and say that hey, no, not right now. Or yes, people do believe me, people do trust me, I am selling, I have stayed sharp, I refuse to get dull. And this, this doesn’t make sense. I think I could do this, I think that you have, you know, potentially earned the right? To diversify for lack of a better phrase. Because you can do whatever you want.

My intention is to make your life easier to help you use your energy the very, very best. And maybe your energy is better spent, where you’re at, Be Where Your Feet Are, go deeper into that knowledge, get fired up about it, make some noise, shake the trees, let the people know that there’s value for them in what you’re currently doing. And see if it makes a difference. Maybe you even stop and just say, you know, only double down for another month. And just see, to see before you add something else. And I look forward to hearing if that helps you. If you’ve been tempted by going one way or the other, diversifying and pivoting, because I get it, it might feel like security is in the dollar amount. But like Dave Ramsey says it is not about the amount of money you make, it’s actually about the your relationship with money. Okay, and so let’s not make it about the dollar amount. Look I can I can spend it faster than I could make it if I if I had a bad relationship with money because your girl likes stuff, which is who I am. So don’t make it this about the dollar amount, make it about you, you are the vessel that sells, okay. And I totally believe in you. I’m excited for whatever opportunities come your way. And, you know, the saying that I don’t know if we made this up before we made this up or what but the saying luck is when opportunity meets preparation. Luck is an opportunity meets preparation. And I hope that you stay prepared and that opportunities do come your way and that you do get quote lucky. I hope you get lucky by that definition. Not any other definition. But that definition. And like I said, I hope this helped you. I hope that you feel encouraged and challenged in the right way to give it your all and to go make a difference where your feet are right now and just see what happens for you. And just know that I believe in you. I can’t wait to hear what you think about this episode. Let me know in the Guide Culture DMs and I’ll talk to you next time.





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