4 Things About Multiple Streams Of Income You Should Know
Earning a steady monthly income online is something
that eludes many online marketers. One of the main
reasons for this is because they have not learned
how to maintain multiple streams of income. So many
will focus all of their energies and marketing
dollars into promoting one single product or program
and if they don't generate sales from this each month
they will have no income.
So what is the key to earning a steady monthly
1. You must have multiple streams of income.
You've heard that old adage " don't put all your
eggs into one basket " The same holds true when
you are running an online business. To insure a
steady flow of income each month it is extremely
important to have multiple streams of income.
2. What are multiple streams of income?
Good question. Basically it is when you have income
coming in from more than one source at a time.
Imagine having 3 jobs with 3 paychecks. If this
were the case you would have multiple streams of
income. Lucky for you this is not the type of
income streams I am referring to. I just wanted
to give you the basic idea. Now in an online
business it is much easier to achieve multiple
streams of income and it doesn't require that you
hold down more than one job. I bet your relieved
to hear that!
3. How do you get multiple streams of income?
I know what you may be thinking "it's hard enough
to keep one income coming in how am I going to manage
to get multiple streams coming in at the same time?"
I'm glad you asked. It's really not as complicated
as it may sound.
As a matter of fact if you have your own business
website you may already be earning multiple streams
If you sell a product or a specific group of
products and you also sell advertising on your
site then you are earning an income from two
different sources. Are you earning commissions
from an affiliate or partner program? That is another
stream of income. If you are generating profits from
backend sales add that to your stream.
So as you can see it's really not that difficult
to earn multiple streams of income.
4. Why is it so important to have multiple streams
Another good question. Your making me work here!
The main reason it is so important to have multiple
streams of income is to insure that you will
maintain a consistent monthly income each month.
Some months it may be higher than others but it
will be a constant flow every month.
Just think if one month your basic product sales are
low, you will still have the income from your
advertising sales and your affiliate programs.
Then maybe the next month you don't sell as much
ad space on your website as usual, you will still
have money coming in from your product sales and
your affiliate programs.
If you didn't have multiple streams of income
coming in then you may have no income at all!
That's Not Good!!
Now I'm not saying that if you have your own product
or program that you should stop putting your heart
and soul into promoting it and start adding all
kinds of other things to your already busy schedule.
I'm just saying it is a good idea to add a few
more eggs to your basket to ensure that you will
maintain a consistent monthly income.
About the author:
Lisa M Cope - Creator of http://Find-1.com an
online directory of products services.
And http://flipidy.com a premier source for
online business information. Contact: Lisa@flipdy.com
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