Hey there. Welcome to today's episode.
We are talking about 'How to protect your families security with other streams of income'.
So options for having a plan B.
My name is Brandy Shaver, coming to you from Utah. And it wasn't long ago that I was in the same situation!!
Looking for ways to build a leveraged income or another stream of income so that we weren't one legged when it came to the security of our family.
So here are some things I want to talk about leveraged income.........
Leveraged income is where you continue to get paid after the work has been done.
So some would call this residual income, residual is not a word that the FTC likes. So I would say more of a leveraged income. All right.
So there are obviously way more ideas than what I'm going to give you here to create a leveraged income. I've tried to include the ones that are the most constant, with the least upfront capital to get started.
1. Things to Consider
But here's a couple of things that I want you to remember before you dive into any risky plans for you and your family, you want to remember and understand what your risk tolerance is, because some people's risk tolerance is higher than others.
And then also you want to know how much upfront capital do you have to work with because some of these are gonna need more capital than others.
And then how much time do you have to invest in each week with your leveraged income plan?
So not every plan is going to work for everyone. So just so you know, not every plan is going to work for every person. I wanted to share with you the ideas that you can create a leveraged income with.
2. Ideas to Create Leveraged Income
So obviously one of the ones that I do, is sell digital products. So the annual income for that is anywhere between, when you're first starting out, a couple thousand dollars a year. To up and above, like we're talking seven figures.
Upfront capital needed is going to be anywhere around, well when I got started, my upfront capital was right around five grand. But my upfront capital now is way higher, depending on how much advertising I'm doing in the marketplace to grow that income.
So it's a pretty low risk to sell digital products or to affiliate, it's pretty low risk. But the hours you need to invest each week is about 30 plus and that's pretty accurate.
Now once you've built that leveraged income, you can replace yourself by hiring a couple people and they can continue to do what you do. But the upfront, like if you're kind of a bootstrapper and getting it up and running, there's a lot of work that has to go in on the front end.
And that's how I built my brand online is by being an affiliate to a company.
So the other one I want to share with you is a YouTuber or a blogger. YouTuber or blogger, your annual income potential is way above seven figures. Your upfront capital is right around, I would say, anywhere between $1000 to $5,000, and then the risk analysis there is pretty low as well.
The hours you need for that is right around 10 hours. It's going to take some time, so just know that it's not like a right now. It's kind of like, you continue to build up as you go.
Now my last one that I want to share with you, and my favorite one, is network marketing. And some of you are probably already in a network marketing company. And if you're not and you want to be, let me know, but network marketing is one of my favorites.
That's where products move and you leverage that product distribution and you make a percentage off of that as well as build a team that move products as well.
3. Consider ALL The Risk Factors
So those are the few that I wanted to share with you. My favorite way is, of course, the network marketing, because it's low risk, low upfront capital, and it has a huge income potential if you do it right with the right mentors.
So if you want to learn more about that let me know down below, but I wanted to just share with you a couple of ways that you can create that leveraged income so that you have a plan B for your family, if anything crazy goes on.
Of course, there's way more ways to create a leveraged income, but you want to remember your risk tolerance, your capital and the time invested, and then really get mentorship from someone that knows more about it than you do, right?
You don't want to kind of just cowboy it up and go the cheap route because it can cost you a lot more money on the front end than it needs to.
Hire a mentor or work with someone that already knows how to do it!!
So I appreciate you being here. I'm going to drop a link down below where you can get more information on how to start affiliate, and then I'll also drop the link if you want to check into joining my team inside of network marketing. So there's an interview process, we don't accept everyone to our team because we want to work with people that are super enthusiastic, but I'll drop that link down below as well.
So have a great rest of your day and we'll talk to you soon. Thanks. Brandy xx