The Benefits of Becoming a Multipreneur
Here's some good financial advice:
“Don’t put all your eggs in one basket”
Have you ever heard the saying, "You can't save your way to wealth?" If you really want to become financially free you are going to do more than eliminate debt and save your pennies. True wealth comes when we create multiple streams of income that can support us when our primary stream fluctuates. I didn’t make a mistake there, I do mean WHEN not IF. Today especially markets can change on a dime. What was financially lucrative yesterday can be gone tomorrow so it’s important to have multiple streams of income if even if you are only looking for financial stability and not wealth.
During my lifetime I’ve seen pensions disappear, social security dissolve, and huge recessions that destroyed the employment, stock, and housing markets leaving those of us still working without the hope of support in our older years. Since then we see the necessity of income coming in much later than our parents or grandparents did. Because of that it’s smart to prepare yourself to survive other unforeseen changes that could still arise before you are ready to retire.
One of the things I’m seeing in the generation coming after me is that they are very entrepreneurial. I know so many young men and women who have worked in the traditional employment market for only 5 years or less and have instead began their own businesses. I think this is amazing and gives me great hope for the future. It also is an indicator of how different the future will look with so many entrepreneurs in the market. That said, I think it is important to recognize that with as fast as things change it is a good idea for entrepreneurs to consider multiple entrepreneurial ventures in the event of a catastrophic loss.
I myself have an established real estate business. We are 5 years strong and the business continues to grow, however, recognizing that if everything were to change tomorrow such a change would be devastating for my family I too turned my focus to developing a second business this year. I also have future plans and expect to invest in multiple ways to create even more income streams in the near future. This is simply a wise strategy for anyone who could not survive the loss of their primary income.
Since becoming an entrepreneur I now see revenue opportunities everywhere and often consider them in addition to what I currently do. My mindset has shifted from "getting a good job" to bringing in revenue in many different ways and quite frankly that also seems to be the recommendation of most financial experts today.
I hope this post inspires you to think about ways that you can expand your revenue streams and help guide you into a more secure future. And of course, if you want to talk about doTERRA as an option I’m always willing to share why as a traditional business owner I chose this as my next venture! Click here to learn more about what I do.
Wishing you well in all your (hopefully many) future endeavors!
Be Well!