What are your revenue streams?
What are your revenue streams?
Always have more than one.
Last Friday, my 76-year-old mother fiddled her way into figuring out Substack notes just to support me.
On Tuesday, she sent me a Reel on Facebook Messenger.
I love it when her support spills over to social media. But those streets can be bumpy. And neither my mother’s eyes nor her thumbs work like they used to, yet she doesn’t let that stop her. She’s the best mom a son like me could have.
After my aging mind finally figured out how to check Facebook Messenger, the Reel’s caption looked too good to be true.
“Make $2,500/Hr with your voice,” the caption screamed.
Before clicking play, I wanted to call my mom. I would have reminded her that anybody can say anything on the internet. She would have described my caution as fussing.
But one day after I wrote about my newest revenue stream, my mom didn’t send me a scam but a service that might have helped me generate income.
The Reel promoted voices.com, a site that pairs brands with voice over artists. I checked it out, and it’s not for me. There’s a membership fee, although a free tier exists, and past users have complained that the company takes an unusually large share of the profits.
But thanks for trying, Mom!
She introduced me to another avenue for getting my name — and my voice — into that industry when the time is right for me. It wasn’t a route I had considered. Instead of fussing, I was reminded to be intentional about all income streams, even mild passions. You never know what you will find.
It’s a lesson I learned late. I’ve only recently understood the importance of a side hustle. I wasn’t taught to supplement my income with additional revenue streams. Pouring into my career was always my priority. Before launching Money Talks last year, I never had a side hustle or two to pour into.
As for consistent revenue streams, my list started and stopped with one.
Somehow, I was shocked when the realization hit me. I suppose I was just that content, satisfied financially so long as my next paycheck came. And when it did, it always provided just enough security that I never gave thought to needing another source of income.
I write down my revenue streams now, and I suggest you do too.
I didn’t spot the leak in my earning power until I seriously began managing my money late in 2022. Each time I checked my accounts, I’d wonder why more money wasn’t coming in.
That’s when I grew intentional about listing my income streams. That simple task organized my thoughts and sparked ideas about ways I can generate more money.
I’ll never forget filling out surveys, playing online Bingo and selling household goods to add anything I could to our pot. I was determined to stretch my money-making ability. None of it paid well. But I was developing a habit. Whether I knew it or not, I was programming myself to produce more money.
Switching our money from banks to the stock market added appreciation, capital gains and dividends to our revenue streams. A high-yield cash account adds monthly interest.
Those are commonly used mechanisms I never considered.
Sometimes you just need someone to expose you to possibilities.
Sometimes it’s your 76-year-old mother via social media.
