Multiple Streams Of Income?

[MommyEnterprises]

I am a believer in creating multiple streams of income. Anyone else?

[Steve OBrien]

Yes, indeed. One of my regular guests on a radio show I hosted for a year here in NYC, Robert Kiyosaki of "Rich Dad..." fame has been enthusiastic about multiple income streams for years, some joint venture, some direct sales. Of course, it's all about doing your due diligence as well as finding what hits your "hot button." I like this one since it deals with a number of FORTUNE 500 companies and ties in current web trends, too: Welcome to MyShoppingGenie!

[GuruGazette]

Of course

I primarily make money from...
- Licensing my stock photos through multiple distributers
- Selling articles and reports w/PLR rights
- Selling reports and ebooks direct to consumers
- Selling tangible products through various affiliate networks
- AdSense, CPA, and other advertising on content websites

Eventually I'll also add tax leins, stocks, small business loans, and various other things.

[napoleonfirst]

Forex is a very good option.

[Dan Grossman]

Absolutely. Us self-employed want "job security" just as much as someone with a boss. Having multiple sources of income is absolutely necessary to make sure you can pay those bills no matter what happens.

I have been living off the web for 5 years, including paying off a six-figure college tuition before I graduated, with websites that monetize in all different ways:

- Products I created to sell
- Services I charge a subscription fee to access
- Reselling others' products in ecommerce sites I created around them
- Affiliate commissions from review sites
- Advertising sales on content sites
- Selling scripts and websites on webmaster marketplaces

[Joe Trevison]

I Avon
2. Investments
3. Accounting Business
4. Shopping Cart on the net where I sell books you can't find of old Guru that the new Guru used to get rich
5. I do marketing and consulting and Payroll and taxes

some I make money a few a just break even for now.

[mlevenhagen]

I don't think it matters - no right answer. It depends on your situation and the volatility of what you are doing... it depends on what you are doing and how well positioned you are to absorb risk.

Especially if you have money in the bank for example that would absorb any disappearance of income - a cushion that would allow you to rebound from a worst case scenario - do you care?

Focusing on one thing, specializing and being an absolute expert at one thing can actually guarantee your income - is actually a ticket to big profits in a lot of cases..

Under the right circumstances -- if you have a HUGE income from one thing - do you care?

I think the *idea* of multiple streams of income works against some people on the Internet.. they do it because they are told it's the right thing to do, but they are so worried about spreading their risk and not having all their eggs in one basket that they never focus and fully develop any one thing to where they are making a nice, excellent income.

Maybe the answer is it's fine... as long as you develop each stream fully; one at a time.

My 2 Cent

[Dan Grossman]

That's some good advice as well. I should clarify that while I've created all those streams of income, it's been done over the period of the last 12 years.

• My first content site that runs advertising was started in 1996.
• My first affiliate site that makes money from commissions was started in 1999.
• My first subscription service was developed between 1999 and 2004 before it started charging membership fees.
• My first ecommerce site to bring in 6 figures a year wasn't started until 2004 after all those other things were taken care of enough to start a new project.
• I developed my first unique software products to sell within the past two years.

It is definitely important to follow through with your business/website ventures.. you can't just spend a month on it and call it done. Or build a product then not spend time learning to market it effectively. Or build a content site and not work to build up traffic before moving to the next project. It takes time to make something that will last!

[kumcheong]

yes, definitely.

=> Multiple Streams Of Income | Multiple Income Streams | Multiple Streams of Internet Income :-)

it's important to build up the money now so that you can have a beautiful retirement in future. good luck!

[Michael Lee]

Absolutely. Some of the ways I earn include:

1) Promoting to my lists
2) WSOs
3) Article marketing
4) Affiliate promotions
5) Copywriting projects

[JamesW]

You can't beat multiple streams of income. During the day I trade forex and indices and also invest in UK shares, and at night and during quiet periods of the day I'm busy maintaining my various websites.

[freudianslip27]

One thing I learned early on was the value of not having all of your "internet eggs" in one basket. I didn't like living in fear that the one profitable well I had would dry up!

Matt

[abelacts]

Definitely MSI is the way to cushion any unforseen circumstances. You can create MSI in the same market or different markets - depending on what you do. Thinking of new ways to generat income really excites me.

[Nathanial Anju]

I am a new on the net...

I have started with the submission of the web sites to the search engines and directories. It is a reasonable paying job for a starter.