The Average Millionaire has 7 Streams of Income (2024)

The average millionaire has seven streams of income, which may sound surprising to many. However, it is their mindset that leads them to achieve this financial milestone. Having multiple sources of income can help one sail through the ups and downs of any industry, be it network marketing or real estate. Hence, it is essential to consider different options and build sustainable businesses.

The key to success lies in leveraging one's time and money by scaling their business. One can create multiple streams of income through coaching, group sessions, and direct sales. These streams can be evergreen, providing long-term financial benefits. Developing a wealth-oriented mindset can help overcome poverty programming and pave the way for abundance and financial freedom. Ultimately, one should keep striving, be coachable, and learn from the successful people around them to achieve their financial goals.

Scale Your Business

Multiple streams of income work because we’re leveraging our time and our money. If you have a coaching business going on and you are spending your time group coaching, and one-on-one coaching, you’re not leveraging your time. You can only take on so many people. Now, if you decide to train and certify other coaches under you to let them coach within your program, that is a different story. Having people work with one of your coaches, you make revenue and pay out the coaches. Now you’re scaling! Now you’re leveraging your time! It’s the same concept.

Each of these streams of income, such as courses, will be evergreen. Once you create it, you can sell it forever. I have an Instagram course from 2019 and that is our number one selling course. We periodically update it when new features come out, such as reels, but all the content is still relevant.

Social Proof

When you think about those that are successful around you, I want you to do some homework for me. I want you to pick three people on social media that you look up to and/or who have the kind of life you want. Poke around on their social profiles or maybe on their website to see if you can figure out how many streams of income they have. I bet if they truly are successful, they have multiple streams going.

Remember that there are people who are successful right around you wanting to teach you how they created wealth in their life. I just happened to be one of those people. I’m somebody who struggled and had a life of poverty. I never knew nice. Not until I actually got into Cutco Cutlery, and it changed my life. It’s like personal development on steroids, but I worked really hard at it and realized it could pay for college at a private university.

Mind Over Matter

It wasn’t until I got around that in my early twenties that I realized that there was this whole other world of wealth. It took me over a decade to work through all the programming that growing up in poverty put me through. But when you are around people who grew up in poverty, and they achieved wealth, abundance, and health, it contributes to your mindset. You will see why they’re so passionate, and I’m one of those people. I want you to have the money that you need to have, to not hesitate when your child asks if they can go to this camp or if your husband wants to invest in something, to have wealth when someone needs something and not even flinch. That’s what I’m absolutely committed to doing. This teaching comes from my heart, and I just know that you can do it.