You don’t have to do dramatically different types of things to generate multiple streams of income. “There are many ways you can earn money within a single bucket. For instance, within content creation, there are different ways to monetize your audience”, says Tan; YouTube ads, sponsorships, digital products, merch, affiliates, and so on. “You don’t have to pursue them all, and not every stream will work for everyone”, says Tan.
Case in point: Tan generates most of her income from content creation, which comes from YouTube ads, affiliate marketing, and sponsorships. She also makes money from e-commerce and investing.
Barbosa’s streams of income stem from modeling and acting, affiliate marketing, brand deals and content marketing gigs, money earned from her investments, and reselling items on Poshmark. Sugumar has nine streams of income, which include an admin office job, investing in crypto, and creating Instagram theme pages.
If you have an e-commerce business, you can find new ways to monetize, like branching out and selling different products, or maybe through collaborations with other e-commerce brands.
No surprise, but Sugumar suggests starting a TikTok page, as you can gain tons of exposure and use it as a funnel to grow your different streams of income. “Once you have a social media account with an audience, you can create many streams of income through that — trust me,” says Sugumar.