Simplifying Your Way to Success: Why One Income Stream is Better Than Many

Are you thinking about creating a source of “passive income” - a.k.a income that doesn't require constant effort - in your beauty business?

It may seem like offering more products, services, or becoming an educator can allow you to quickly and easily bring in the big bucks, but have you considered the time, money, and resources needed to produce that revenue?

Investing money and time to research products, creating an e-commerce store, marketing the products and giving away products to get people to try it, etc - all happens before you've ever made a sale.

Becoming an educator means establishing credibility as an educator, building an audience of people who trust you, creating your curriculum, then having sales convos to get a student to buy from you. THEN you actually can do the education part of teaching a student. Not to mention a whole hell of a lot of MARKETING to consistently get new students into your program. 

These are all great growth opportunities in our industry - however - if you haven't had success and the time/money freedom you want in your life with the CURRENT business you have - you are spreading your time and money REAL THIN trying to add more complications and distractions by creating these different revenue streams.

Instead of spreading yourself too thin, use that same time, money and energy to master one income stream at a time. Focus on building out processes that work and generating sales and profits in one business before you move on to the next. 

By doing this, you'll have a solid foundation for your business and be better equipped to  add on  more business models in the future - IF you want to! 

 

Episode Highlights:

[2:10] Why Social Media’s #hustle culture is super misleading. [3:26] Lash services, product lines, and education are each separate businesses with their own unique business models. [10:54] Building a team can be a fulfilling way to scratch that itch for education and mentorship - without having to constantly find new students. 

 

How do you build out processes and create a team that can help you scale? That’s where our Society Xcelerator program comes in. We’ll teach you how to build out a process dependent business with a team so you can focus on what you do best and grow your business with confidence.

To learn more about how you can join our Society Xcelerator program and start building your dream team, DM me on Instagram with #hire. I’ll show you how you can hire your first (or next) profitable team member and take your business to the next level.