How to successfully create multiple revenue streams

Most jobs limit the amount of money that can be earned. Unless your compensation package has some type of commission or bonus, the money provided by a job is either based upon the time you put in or it is capped by a set salary. Whatever amount of money that your job currently provides, is it enough for you? Or are you someone who always desires more? If you are anything like me, you always desire more, writes business mentor Gary Douglas.

With 50 years of experience as an entrepreneur and owner of multiple businesses including antique stores in Australia, a luxurious castle in Italy, and a thriving ranch in Houston, Texas, I still continuously look for ways to add revenue streams to my life, I always find them, and you can too.

Here are my top 3 tips for creating multiple revenue streams successfully

1.    Educate yourself about money

Educating yourself about money can be as simple as doing a Google search such as “What is wealth?” Or, “How do wealthy people get wealthy?” Or, “What are the assets that create revenue?” If you are willing to educate yourself on anything, you will know more than 99.99% of the people out there. People aren’t often interested in increasing their knowledge, and if you are, you will know a little more about something and will be able to see the value that others are not.

2.    Use the money you have to create more money

 There is a book by James J Hester called the “Penny Capitalist.” This was a revolutionary book for me. It’s all about using the money you have to create more money. After I read this book, I started doing what he said. I went to garage sales and estate sales and started finding things that were worth more than I paid for them. I built a portfolio of things that were worth something that I had paid pennies for, quarters for, or dollars for. For example, I bought sterling silver earrings for 25 cents a pair. Once I bought them, I stashed them. Two years ago, I traded them in and got $300 for what I paid $50 for. You’ve got to start to ask, “What are the choices I have that I haven’t considered.”

3.    Ask questions

When it comes to money and creating multiple revenue streams, most of us immediately use our logical, linear way of thinking to try to come up with what will work. We look at research that has been done. We choose which direction to go based on logic. While there is nothing wrong with research and logic, they can only take you so far. Questions, on the other hand, take you beyond your logical, thinking mind and open the door to possibilities you have never considered.

Rather than jumping to the “how” of creating multiple revenue streams, start asking questions. Here are a few questions you can start with:

• How many revenue streams would be fun for me to create?
• What other revenue streams are available that I have never considered?
• What are the unlimited ways money can show up for me now?
• Am I willing to give up having to compute, define or calculate how money will show up and allow it to come into my life in random and surprising ways?

 There is no limit to the amount of revenue streams you can create. Educate yourself about money. Use the money you have to create more money. Ask questions every day and allow multiple revenue streams to show up.

The purpose of money is to change people’s realities. How many realities would you like to change?

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