I remember the exact year I became a 6-figure woman…it was 2004.  Up until then, I made what the “median” average income was according to the US Government statistics; which was probably in the $40,000 to $50,000 range.  That’s not much when you are a single mom with 3 young kids to support!

Thank God I found the book, Secrets of Six Figure Women by Barbara Stanny which turned the light bulb on for me and gave me the awareness of other women who were making a six figure income.

When I left my 15 year legal career to pursue my passion of writing and teaching, I started creating multiple streams of income.  At the time, I was receiving income from several different sources:  I was a freelance reporter for the Capital Gazette Newspaper, I was a freelance teacher at 2 of the Community Colleges, I taught my own online and offline classes, I had rental income, I was also in outside sales.

Multiple Streams of Income is the key to making 6 Figures regardless of whether or not we are in a down economy.  The only difference now is where those streams come from.  For example, one of my streams was my outside sales job where I sold high ticket hot tubs in a commission only job.  Now, because of the down economy I make zero dollars in that job.  In a down economy people aren’t buying a luxury item like a hot tub.

So in 2007, when that income started to go down, I started putting my focus on other income streams.  What I highly recommend is that you have some type of online business.  An online business is something you can work on in your spare time and it has very low overhead to get started.  Right now, my online business is my biggest source of income!

I have other streams as well.  I am involved in a direct sales/network marketing company whose service is lowering people’s energy/electric bills.  I have rental income.  I do ghostwriting for clients, coaching, etc.  The point is I have 6 streams of income and to protect yourself and your family, you should be creating new sources of income.

The days are gone when people had one job and relied on that one job as their only source of income.  I recommend a minimum of 4 streams of income; this way if one stream dries up, you have other ones flowing in!

It’s tough to start a bricks and mortar type business these days and who has that much money to take a risk with.  My niche’ is helping women take their passions, hobbies and even their problems and transform them into an online business.  To find out more about my 6-week “guided” online course, click here. 

Once you add one stream of income and get that up and running, then you can add another and another and another!  The key to success is to be proactive rather than reactive.  So do it now, instead of when/if you find yourself in crisis mode and having to scramble to replace some lost income.

Having an online business is fun, rewarding and the best part is you get to make a nice income while helping others!