912. Why I Will Never Go All-In On One Income Stream

I know that you might want to go all in on that one thing right now, but I actually don't know if it's a great idea. I actually. No, it's not a great idea. I think it's so brilliant to be looking at your life as how many different forms of income can I get into my bank account? And not just that, how many different forms of income can I get into my bank account? With minimal work? With the most minimal work foreign. Hey, everybody. Welcome back to another episode of behind the scenes of Building a business. I am sitting here with my chief of staff, Lauren Kuhlman, and we're so excited because we're going to answer your questions this week. Lauren, what is up? How are you?

Hi. I am feeling really good today. Actually. We've had a big project this week. It's Friday. We got the project done. I mean, the deadline was yesterday, so I knew Friday would come around and I would feel like a different person. Very accomplished.

You literally crushed it too. And Lauren, like, keeps me on task. And I swear to God, if I did not have you during this project, it literally would have been one of the most stressful experiences of my life because it was so much project management. We are getting together things for not only the light pink website, but also for my website. Just because they're going to kind of go hand in hand with what we're going to be all launching with light pink. So we want them to support each other. And let me tell you that getting two websites together, launching two websites, redoing them, rebranding one in itself is insane. Two is just like next level. So we just got our first major, major, major deadline in which was last night. Oh, my God, it was the craziest. And I had like a dinner that was really important to me last night. So many different reasons. And I was literally. Lauren and I were on zoom. While I was putting makeup on, doing my hair, we were answering questions like last minute everything. Woke up at the ass crack of dawn to see if I could like sneak some things into the deadline and like try to finish things because they didn't go right yesterday before I was leaving. And, you know, we totally could have been probably psychotic and neurotic together. I feel like you thrive under deadlines. How did you feel?

I found that out about myself. I mean, I always knew I thrived under deadlines because I'm like, okay, I have to shift my focus under one thing and not 100 things today. So I always know that works for me, but I always know it's not ideal to do every day. So when I was doing it this week where it was like, okay, like you have the deadline Thursday, you have to get this done, even though other things need done. It was also like a good feeling because I'm like, okay, there's other things that need done, but they're not as urgent as this. Where on a day to day basis all things kind of seem urgent to keep moving everything forward. But when there is a big project, it's so nice. I feel like I got all of this done in such a shorter amount of time than I normally would have because I didn't check my email hardly as much. I didn't check Slack hardly as much. I didn't email all the people back right away that I normally would or look in things or whatever. But it literally let me focus on one project at one time and have my mind focused on one thing for such a long period of time that I'm like, okay, I can understand right now what the homepage is versus the about page or whatever with, you know, when you go somewhere else for your email and then you come back and you're like, where was I? And like, how did that all connect together? It literally flowed so, so well. And I feel like I did better work. Like my mind was firing. I'm like, okay, now this is next. We don't need, we need to remember this. I wouldn't have maybe remembered everything if I was bouncing back and forth for totally.

I love that. I love that you're pointing that out because it's the truth. It is. Why? And I shared this with you when you were like, I think I work so much better in these like super contained pockets where it's like, this is your deadline, it has to be done in this time. Even if it feels like something that honestly, this was something that we could have milked out over like a two week period for sure. And it was pretty much all done in like two to three days. And so I find that I work better like that as well. Because what happens, it's the time that it takes to move from one thing to the next and refocus. And that is right down to like looking at your phone at a text. Then it's like a 30 second to one minute, you know, timeframe to get even refocused back into your computer again. And let's be honest, you go to your text, then you're all of a sudden checking your social without even knowing it because you're now a programmed robot like everyone else in the World. Or you check your text. Like, I better check my email. And then you write back to one email, and by this time, it's like 20 minutes later and you're distracted. And then it takes refocus time and you're like, well, hell, you know what? Let's go to the bathroom and get another sparkling water. So you've now wasted, like, another hour or two. This is real. Like, this is really how people function all day.

Oh, my God, you're. Yeah, I'm nailing it on the head.

Instead of like, okay, you know what? This has to be done, like, tomorrow. And if not, I'm screwed. Guess what? All distractions suddenly are eliminated. Yes, you're frustrated, but at the same time, you're like, oh, my God, I've got nowhere to run. Do you know that feeling where you're like, I have nowhere to run because I'm out of options. Like, no one's coming to save me, literally. And now I have to sit in the fire of how uncomfortable this is to figure it out. That was totally me yesterday.

Yes. Yep. And you know what I did? I didn't get on Instagram. Actually, this whole week, it's been very, very minimal. But especially the last two days, which has also been amazing. Like, I think I checked it maybe at the very end of the night, but, like, I did not check my Instagram at all during the day. I swear, the last two days, amazing. Only just because the distractions of it where you all of a sudden are like, how did I just waste? Especially if you're like, if you're. For me, it's like, if I'm in my email and I'm like, okay, I just need, like, a change of. I just need something different to, like, change me out of my email so I can get back in. Like, I need to reset a break. Or if it's like, after a call, I'm like, okay, I just need, like, a really quick break before I get to the next thing. And sometimes I'll open my phone and then I'm like, oh, but I hate that because then it's like, it just feeds you so much info and your brain's already firing in the day. Yeah, it takes the energy away from me so, so fast.

Yeah, that's actually what I have found. Not a break for me. I talk to Chris about this all the time because he's like, I feel like I'm always busy. And I'm like, because your version of breaks is looking at social or something like that.

Oh, my gosh.

And I'm like, it's because you're filling your head with more content. So when I really need to go reset, I get outside. Like, I try to go outside whenever I can and, like, take the data away. Because nature actually feeds you, like, the colors and the green. If you can be around green or water or anything like that, it's proven scientifically that it feeds you. It, like, energizes you. It calms your mind. It puts your mind in a different state when we just go from one state of stress to another state of stress. Because semi. That's kind of what's happening in your brain when you look at social. It's just, like, a lot of bits of information, so you're having to, like, go over everything. And honestly, I don't know if I've ever been on social where I haven't compared myself to someone else and lost immediately. That's, like, not a great break. You know, it's the, like, doing more.

More. You see it and you're like, shoot, I need to be doing this and this and this more, because I'm seeing this person do all these things.

Yes. Oh, my God. All right, well, let's get to one of the questions today. Let's start with one of whoever sent in the question. Who do we have?

We have Michaela McNaught, who asked this question. She said, how did you navigate phasing out of previous businesses as you launched light pink, both financially and mentally? For example, did you have recurring revenue or other income streams that would remain even with. With your pivot? And did you mentally focus 5050 on light pink and your previous businesses until you proved the concept? Or did you decide to go 100% in because you knew it was your purpose to do so?

All right, these are such amazing questions. So when I was thinking about starting light pink, I did have multiple income streams, and one of them would stay the same, which was network marketing, and another one of them, because we had built that up when we went really deep. Like, we went eight years of building, and we've had it for, oh, my gosh, probably 13 years now. So I know that I was in a different position than other people, but there are things that I would say I would recommend. Like, if you have something where you know that you could build it up to a place where it could be an income for you that is regular, that's always helpful. It takes some pressure off of having to make decisions in your life from a place of fear all the time. Not necessarily saying you wouldn't or that's how it would be if you didn't have network marketing or something like that.

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You'll be glad you did it. But. Okay, so the first one was I had an income stream along with. Obviously my husband has multiple income streams, and we're invested in a lot of different things. We're invested in over 10 companies now. So with that said, yes, income streams, I had another income stream that has gone down since I started, which was we had different memberships, so that was a regular income stream for us, fitness memberships. And then the other things that I was doing was launching courses all the time. And then also when we were selling a book and just different events like that, or different events which we had the Bliss Project, I was doing some other different events. So I did let go of those income streams because every year the Bliss Project was like a nice bonus income stream. And then all of our things that we were selling, our E courses was an amazing income stream. And while we're still selling part of them, it's mostly through Chris. But I have, like, that has dramatically gone down when I launched or when I started light pink. But if you're going all in on a business and you don't have that, that's not necessarily a super fun spot to be. Like, if you don't have an income coming in and I don't actually suggest it, I think that you should get your income to a place that feels.

Good for you before you go all.

In on that life project or that thing that you want to do. Because that's really what I did before I started light pink. I wanted to get my life to a place where I could start to make decisions based more on exactly what I wanted to do rather than what I still needed to do. And like courses and events, as much as they were my life purpose, I also needed to do them, like, to make money. So it's really looking at how can you get an income stream that supports your life, that gets you to a place where you're like, okay, this is like the money that I want to be living on. And then how can you start your thing on the side or start transitioning where, yes, you're getting the income from the things that you need to make money from, but you get that to a place where you can now kind of like, that can hold steady and you can go all in on the thing that you want.

Love that. And it's a good idea, too. If you could do something that doesn't require a lot of work, like a course. Possibly it does up front, but then you just have it up. It reminds me to, like, influencers who make presets. Not that it's a ton of money to buy them, but if a ton of people buy your preset, you're making it all up front. And then you just have it live on your website or wherever it is your Instagram. Try to just sell something on Instagram if you want and get that recurring income from maybe multiple things.

Yes. And I think that, that it's always smart to be super diverse. So even if you have the one thing you want to go all in on, I gotta be honest, like, I will never be all in on one thing. I will always have multiple streams of income because the world is changing way too fast right now. And I am never, I am never too rich or too big or whatever that looks like in the future to not make money on, like, smaller things as well or try things out, because those smaller things can become the big things. So I am so all about if something piques my curiosity and I'm like, huh, I can really see how, you know, that would be like, an audience fit for me. Or, wow, I already use that product. Why can't I, like, affiliate for it or add it as a podcast sponsor? Like, I really look at everything that comes in my world now as, like, hmm, how can I make money from that? And I don't think that's a bad thing. I think that's a really great thing. Or, you know, if I meet a girlfriend and we hit it off and I'm like, what does she offer? How could I, like, either, number one, help her, or let's be honest, like, when you're incentivized to help, even if it's your best friend, when you're incentivized to help you remember it more. It's just how it works. So, you know, it's like, okay, well, I just met this woman. She's amazing. She has this product. I love it. I wonder if she would be willing to give me, you know, a 40% percent cut off of her digital product that if I push it to my audience, because I know that her digital product doesn't cost her anything after the initial setup, startup, and all of that stuff. So it's like, what would you be incentivized by? And then asking for that cost. It's very normal to Ask for anywhere from like 20 to 40 to even 50% to push someone's product. If it's a digital product, if there's margins in there and it's an actual physical product that is really, really high, you will most likely not get that at all. So you kind of want to what the margins are on that physical product, but these are all different ways to start looking at. Like, I know that you might want to go all in on that one thing right now, but I actually don't know if it's a great idea. I actually know it's not a great idea. I think it's so brilliant to, like, be looking at your life as how many different forms of income can I get into my bank account? And not just that, how many different forms of income can I get into my bank account with minimal work. With the most minimal work. So if you have a podcast, could you record one ad for your friend or for that product or to be an affiliate and just place those ads on every single podcast that you do? How could you maybe have that person on your podcast? It serves as an interview that you already needed, and then you could point everyone to a link where you get a percentage of the product sold. So I know that that's a more in depth answer, but I think it's the answer that I wish I would have heard earlier.

Love that. And maybe another thing, too, is just to add to that, if you need to acquire audience already, it's probably going to help you to do a couple different things too. Like, you can make money, but you're also doing it to promote this new business that you're trying to create and get audience. So it's helping you in the long run while you're doing this work to get your money right now.

Totally. I love that. All right, you guys, we always want to know your questions. You can text us. Lauren, do you have our text number?

Yes. So text the words light pink. Two separate words. L, I, T E P I N K to 310-496-8363.

All right, you guys, we're so grateful for you.

We love to hear your questions, and until next time, earn your happy. Bye, everyone. It.