How To Build Multiple Streams of Income

How To Build Multiple Streams of Income

How to Build Multiple Streams of Income

Did you know that 90% of the world’s wealth comes from 10% of the population? Those who fall in that 10% have got there by creating multiple streams of income.

Diversifying your income sources and creating residual income flows are the keys to creating lasting wealth.

The Myth of Job Security

Most people think that as long as they do good work at a stable company, they have guaranteed job security. Their sense of security is enhanced by employment perks like great benefits, great vacation time, and maybe even a company car.

But the reality is that there really is no such thing as job security. No matter how wonderful your job is, your income is dependent on someone else’s decisions. As an employee, you really have no control over your income.

While this has always been the case, nowadays jobs are even less secure than in the past. We have an unstable economy. A side-hustle is almost required if we want to build a stable source of income.

This point was made painfully obvious to me when I visited my former employer’s office a year after I left. I chatted with my previous assistant and learned that there had been many layoffs. Given the downturn in the economy at the time, I wasn’t surprised. Even when I worked there, I saw a trend toward hiring off-shore employees who worked for a fraction of the pay. 

What did surprise me, however, was who they laid off. There were two single women who never seemed to leave the office. Every time I stayed late or went in on the weekend, these two women were there. If anyone could be called dedicated employees, it was them. Yet they were included in the first round of lay-offs. My heart broke for them. 

Long-Term Planning

There have been studies done that show that the average Canadian only has enough retirement savings to last for 1 year. So much for the golden years of retirement! Without retirement savings, retirees are dependant on the government. I’ll let you decide if that is secure and safe.

I can guarantee that those with less than a year’s worth of retirement income had not have created streams of income. It is so important to think long-term. Having diversified streams of income not only creates stability now, it sets up you securely for retirement.

Income Streams

When it comes to creating a source of income apart from your regular job, it is important to think profits.

I chose network marketing as my first source because it has a low start-up cost and a proven product. My company of choice was doTERRA: the quality and effectiveness of the products is unsurpassed. If I am going to promote something, it must be a huge benefit to those purchasing it.

If you are choosing a secondary income stream and decide to go the network marketing route, be sure you have a quality consumable product. In order for your network marketing business to create residual income for you, you need two things: 

  • a high customer retention, and
  • a team of partners that duplicate your efforts.

Retention refers to whether a customer continues to purchase after their initial purchase. doTERRA has a 65% retention rate. This is unheard of in the Network Marketing industry! Most companies’ retention rates are between 8% – 11%. 

Duplication is another key to a successful residual income flow. In my business, I have successful duplicated myself in over 2,000 business partners throughout 40 countries. You business model needs to be simple enough that anyone can duplicate it and succeed.

To learn more about creating multiple streams of income using my business model, watch my webinar.

Getting Started

You can build wealth and create multiple streams of income if you focus and choose an industry that is profitable. Book a call with me to learn more about the dōTERRA business opportunity.

Want to learn more?

As great as learning about abundance is, it only works if you apply it – and that can be hard! If you’d like support and structure as you cultivate abundance in your life, check out my abundance resources.

Abundance can start with small, simple habits. All you have to do is learn and apply them!

If you’re serious about cultivating a life of abundance, work through this course.

If you’ve got an abundance goal you’d like some advice on, let me share my experience!

How to get the best price on doTERRA products

In my blog posts I often share links to doTERRA products. You can buy doTERRA products in two ways: 1) at full retail price, or 2) at a significantly discounted price with a doTERRA membership

If you purchase a doTERRA membership through me, I offer additional benefits above and beyond what doTERRA offers, including a customized welcome kit, wellness consultation, essential oil community access, community events and giveaways, and essential oil and natural wellness education programs. Learn More.

All doTERRA purchase links in my blogs are affiliate links which will give you access to these benefits, or you can use the following link for your country: Canada | United States | International

If you need additional support/advice, contact me for a free wellness consultation before placing your order.

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Hi, I'm Kimberley!

I grew up with a lack mindset. I had it tough growing up and I didn’t know better. God did though! Over a rollercoaster of a life, God has shown me simple principles and habits which helped me manifest the life of abundance I now live. A life I know He wants me to enjoy as His child. Now, it’s my greatest pleasure to share these truths with you!

Learn More About My Story

Looking to buy an essential oil?

The best way to buy doTERRA essential oils is with a wholesale membership. With a membership, you get 25-55% off all doTERRA products.  

All product links in my blog connect you with a doTERRA membership along with your products. There are no strings attached to the membership – simply order whenever you want and get 25% off.  Plus, I offer my members essential oil education, prizes, & community.

Learn More

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My Top 8 Uses for doTERRA Peppermint Essential Oil

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