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,