The Benefits of Using Multiple Streams of Income

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Imagine if you had a dozen different companies or products making you money every month. Would you worry much when one stops or doesn't make you as much as usually? This is the power of multiple streams of income and there's a right way to set your system up and a wrong way. We are about to cover both of them, so that you can maximize your online earnings this year.

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The Wrong Way

Setting up your system with multiple niches and products that don't fit won't help you maximize your profits. You cannot build a list in one niche and promote products to it from an entirely different niche. It's also a bad idea to enter more than one niche at a time, especially as a beginner. I made both of these mistakes year ago and it wasn't until I sold over 50 websites (in many different niches) and concentrated on just one niche, that I started really making money online.

The Right Way

1. Choose related products

Start with products you can promote in the same niche. For example, if you want to enter the internet marketing niche, choose products that work together. There are many sub-niches to a large niche, such as internet marketing, so you may want to concentrate your products in just one area, like traffic building or list building. This will make it easier to promote the right products to your list and visitors without promoting something they are not interested in.

2. Set up a System that Builds on Itself

If you wanted to start making money online, wouldn't you be willing to invest in a system that shows you step-by-step exactly how to do it and what you need? This can be done in any niche and it's done by setting up your system with product recommendations that enhance the system. For example, if I were to set up a system in the list building niche, I am probably going to recommend hosting, domain name services, an auto responder, a squeeze page template and other related products. I won't recommend things that don't fit in the system, but I will recommend things that make sense with what you are learning.

3. Use membership sites

If you can find a membership site to promote, use it. Of course, check it out first and make sure it's worth your time. Membership sites tend to pay lifetime or recurring commissions allowing you to get paid more than once per sign up. This can help make your income more sustainable and help to maximize your profits.

Setting up a system to use multiple streams of income will help you make and sustain an online income. You can set up your own system or use one that's already set up for you, like the one below.

Check this out

It's a pretty insane new system for making money online... It's called the 5 Minute Mogul List Building and Money Getting Game... The whole thing is designed around a Game Board (Think Monopoly)... Basically teaching you everything you need to know to run a successful online business, as easily as playing a simple board game.

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