In this week’s podcast episode, Vangile talks about the importance of creating multiple streams of income and shares her experience of launching an AirBnB to cover legal fees in one of her companies.
She explores the concept of scarcity of attention and emphasizes the need for focus and undivided attention in growing a successful stream of income.
She shares her experiences with creating multiple streams of income in different industries and the challenges she experienced because of limitations of attention and resources that come with managing multiple streams of income.
She also emphasizes the importance of deep work and mastery when building multiple streams of income. She shares her own experience of gradually adding new income streams once they had mastered the initial one.
This is another eye-opening podcast episode.
Tune in!
During this episode, you will learn about:
00:00: Introduction
03:56: Talking about being in Koh Phangan, Thailand and launching an Airbnb
08:43: Challenges and anxieties of launching the Airbnb
11:45: Re-evaluating multiple streams of income and lessons learned
14:41: Discussing the failure of having multiple companies simultaneously
17:51: The misconception that more is always better and the importance of focus
19:44: Lessons learned from managing multiple streams of income
24:24: Evaluating different potential streams
27:27: Scarcity of attention, decision-making fatigue, and resource allocation
31:03: Maximizing profitability and quality in each income stream
35:25: The importance of mastering one stream of income
39:58: Hiring assistants and expanding the team as the business grows
45:26: Trade-offs and considerations when pursuing multiple streams of income
48:11: Invitation to the Next Level You Mastermind program: wealthy-money.com/mastermind
Notable QuotesMoney Magic course: https://www.wealthy-money.com/moneymagic
Bank Account Challenge: https://wealthy-money.com/bankaccount
Wealthy Money Mastermind: https://www.wealthy-money.com/mastermind
7 Day Tapping into Ancestral Money Wisdom Training: https://wealthy-money.com/training
Next Level You Journal: wealthy-money.com/joournal
Let’s connect on Instagram: https://www.instagram.com/vangilemakwakwa/
Episode 96: Money, Trauma, Ballet & the Power of Presence
Episode 95: Exploring Entrepreneurship, Nomadic Living & Investing Across Continents
Episode 94: Navigating Money, Family, and Business from South Africa to Dubai
Episode 93: Legacy Building: Teaching Children Financial Fluency
Episode 92: Reclaiming Indigenous Birth Practices with Mmatshilo Motsei
Episode 91: The Evolution of an Entrepreneur - Money, Healing and Expansion
Episode 90: Insights from my 10 day Vipassana Meditation Retreat Experiences
Episode 89: Healing and embracing purpose after grief and loss
Episode 88: Exploring the Deep Connection Between Womb, Wealth and Wellness
Episode 87: Creating Financial Freedom by Saving only 25 Cents per Month
Episode 86: Understanding our money archetypes and how they impact our money & family dynamics
Episode 85: What’s your money personality?
Episode 83: Scapegoating: The Financial Cost of Being the Black Sheep in the Family
Episode 82: Embracing the Divine Feminine to overcome trauma
Episode 81: Healing the Trauma of Asking, Receiving, and Guilt-Free Spending
Episode 80: How to Travel the World and Work from Anywhere with Kristin Wilson
Episode 79: The Global Nomad Chronicles: Embracing Change, Living the Nomadic Life, and Cultivating Global Citizenship
Episode 78: Living through my worst fear and healing my vow of invisibility and not good enoughness
Episode 77: The Link Between Mother Wounds and Self Sabotage
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