Things To Think About When Looking At A Second Income Stream

With little training or experience in marketing or sales I turned over £500 in my 2nd month in business

So here I was 36 years old and no longer married, no longer had the income to support the living I had become accustomed to.  It wasn’t lavish, but comfortable for where we were in our young lives I guess.

So the shock of being a sing mum with with two  young boys aged 5 and 10 years old having to manage on my own, with no one there as back up was petrifying.

 

 The difference an extra salary makes hits you right away.  Not having as much disposable income, if anything not having any was scary.   I had to get really creative in the situation as I am sure many in my position would do.  I was determined to survive a seperation, survive the indignity of being labled a ‘single parent’ and survive the debts.

This drove me to look at how I could earn an income working from home without affecting my day job which was my main way to pay the bills.  At the time I had a mortgage and credit card debt to pay.  Trust me, there were times when I didnt have more than £20 in my back account which had to last me 4-5 days until pay day.  I struggled how to use the £20, do I put petrol in the car, do I top up my travel card, do I buy food?  There were times I juggled with that £20 to make it last 4 days and sometimes had to phone in sick to work, because I couldnt afford to travel in.

I found a network marketing company through a leaflet that came through my door asking for distributors.  It turned out it was a neighbour who lived a few doors down from me.  I signed up with last £1800 in savings and worked like crazy to get that money back before the month was out.  In my first month I turned over £0.04p in profit, 4pence!  Yes you saw right.  I made 4 pence, but I was so excited becausde I could see the potential of leverage and in the following month in became £500. I haven’t turned back since. 

Having a reason WHY

Key to being successful in anything you do, is the reason why you are doing what you do in the first instance.  If you dont have a passion or something to drive you, when there are days you dont feel like getting out of bed, or when you feel like not doing anything in your business, you why has to be the driver to keep you motivated.

For me, it was making the extra income to keep me paying the bills and living in a lifestyle I had accustomed myself to and my kids.  Take time to find out what your WHY is, but make sure it is one that makes you emotional, one that keeps you on track, when you go off track, are low, dissappointed or feeling rejected. 

When will you have time?

It’s important that you factor in the amount of time you will have to work on a second income, because you do have to put in the effort.  If you are looking at making an extra £500 – £1000 a month, then you will possible need to look at 8-12 hours a week.  You will need time to attend online team/business training, have time for your own self development and time to run your business daily.  

To help me I worked out my day by looking at some of the deadspots in my day, ie after the school run, driving or travelling to my full time job I was able to do some personal development, team training catch up.  During lunch times, I was able to contact people, follow up people who were interested and set appointments for the evenings.  For travelling back home I would look at more personal development, ie reading, or listening to a podcast or audiobook, or catch up with friends via phone, text, etc. as well as planning my diary and putting down thoughts as they come to me.

What to look for?

As an analyst I looked at things thoroughly, and I would advise you to do your due diligence to. Here are some pointers that may help you decide if a company is right for you:

  1. Is the company in good standing? How do you check this well you can go to several websites and do a search on the company you are intending to join.
    1. https://bestcompany.com/mlm
  2.  Do they have consumable products that customers will come back to buy from you?
  3. Is there a market place for those products or services?
  4. Are the products competitively priced? Can you see yourself using them?
  5. What are the returns policy and the cancellation policy like?
  6. What support will you get from the team / upline / enroller

Bottomline, if you can see yourself using the products, why not become a customer first, or if you have the belief that this is something you can see yourself using, and see your friends and family using, then go for it.  Passion will help, so will enthusiasm. 

 

Good Luck with finding a second income that makes a difference in your life!

If you felt this post was useful please leave me a comment below.

 

About Colette Morris 38 Articles
Colette Morris writes about her life and business experiences and insights. She is passionate about Healthy Living, and giving back to society in any way she can. A very determined lady an excellent motivator and leader who loves a challenge. She is also a very down to earth and family orientated person. If you get value from her posts, be sure to leave a comment and let her know.