How To Use What You Know, To Make Extra Dough': A Guide To Increasing Cash Flow

| January 22, 2017 | 2 Comments

bymaria

One of the biggest pieces of advice that my business mentors have taught me is to have more than one stream of income. This rule of thumb definitely saved my butt last year during a few ‘rainy days’. I’ve been working since I was 13 years old and haven’t stopped hustlin’ since the day I discovered how to turn my passions into profits. Extra cash flow has allowed me to save, invest and watch my money grow and it’s a great feeling to know that I can hold my own. To be honest, I don’t have the secret to becoming rich, nor do I want to give you the impression that I chase money. Actually, the fact is, I chase my dreams. I’ve always believed that if you focus on your passion and master it, all of the pleasures that come along with having a successful business will naturally follow. This space is where you become rich in experience, health, love, and life.

What I do know for sure is that pursuing your passion and viewing it as a possible business venture can create a better lifestyle for yourself and loved ones. Perhaps your parents are about to retire, or your siblings need financial assistance applying for post-secondary education, or maybe you want to travel the world, or save for your first home or prepare for a new addition to the family. The needs vary from person to person, but the reality is that sometimes there just aren’t enough funds to support them. I totally get it. Through heart, hard work and building healthy relationships, I’ve experienced the fruits of my labor in only a few short years. I’ve gained travel opportunities, brand partnerships, a beauty endorsement deal, national television appearances, and financial gain.

Happiness has always been the ultimate goal and I feel truly at my best when I’m doing what I love. I say none of this to boast, but to prove to you that anyone can turn their passion into profit. All you need to do is get focused. Maybe your passions include painting, singing, fashion & beauty or something else. Wherever your skills/ talents lie, it is possible to attract the life you want if you are ready to earn it. Consider these key factors to help you.

1. Figure out exactly what you want

Ask yourself what you want your life to look like years from now. Paint a picture inside your mind and envision everything. I mean down to the very last detail including the feeling you want to experience. Is it peace? freedom? Joy? Danielle LaPorte suggests that you should navigate the decisions in your life based on how you want to feel. Your primary objective should be to feel good. I couldn’t have said it any better. Once you understand how you want to feel, the next step is planning what you need to do to make it happen, again down to the very last detail.

2. Build your business around passion

If you’re not passionate about what you’re doing, then you can forget about it. You’ve already sabotaged the entire process. In order to succeed at this, you have to be obsessed and work at your master plan daily. At the core of your being, whatever you choose to pursue has to align with your beliefs and values. Spend time with people living their dreams and they’ll tell you. Here are a few suggestions that may spark an idea: self-publish a book to sell on Amazon and other booksellers, create a product to sell online, become a freelancer, host seminars/workshops, create a blog/platform to sell a service, become a coach/consultant related to your passion. Did this list help? Grab a notepad and pen and continue jotting down some ideas of your own or invite some friends and have a mastermind session.

3. Become an expert

Talent is not enough, you must fuel the desire to learn more about your field of interest. It is vital that you improve your skills and actually invest time and energy into your passion. No amount of fairy dust replaces hard work. Find out what drives you because you will not succeed unless you have a purpose for why you do what you do. Master your craft and give 110%.

4. Make financial education a priority

Read books, take classes, seek council from a financial advisor to learn about how to live below your means, save and invest wisely. Many people fail because they mishandle money. Don’t allow this to happen to you.

5. Face your fears

Not everyone will support your dreams but you should know that with or without them, you are still amazing! Walk your path confidently and don’t expect anyone else to understand your journey. Trust me, it’s hard but you have to fight through some of the bad days to earn some of the best days of your life. I know this because I am living it.

6. Practice patience

This is the most important tidbit of advice I will leave with you. You may not be rollin’ in dough within the first few weeks, months or even a year, but you have to keep the faith and stay on target. It took me at least a year to get to finally generate strong and steady income streams. But before I was on my feet, I worked for free to gain experience and build clients, networked my butt off and spent countless hours getting creative with marketing and business strategies.

Remember, success is a mindset. If you want to be successful, start thinking of yourself as a success. Never ever, ever, ever, EVER, give up on yourself! XO

Peace & Love,
PRxo

Tags: , , , , , , , , , , , , , , , , , , , , , , , , ,

Category: Arts, Beauty, Blog, Career and Business, How To, Lifestyle, Mentorship, Networking, Self-Help

About the Author ()

I am the co-founder of New Girl on the Block, a mentorship platform for millennial women who are dealing with major life and career transitions. In addition, my passion includes advocacy for anti-bullying and mental health in which I contribute my free time spreading awareness, providing expertise on media platforms and delivering keynote talks in schools nationwide. When I'm not working with young adults, I am growing my brand as a content strategist. I have successfully crafted a business in storytelling as a Journalist, Author and Ghostwriter.