How Many Online Income Streams is Enough??

33 replies
I know that this is quite a general question but for about 3 years I was trying to do everything at once, a bit of CPA, arbitrage, YouTube videos, Sniper sites and in the end I learnt a lot and made a little but didn't have the full time income that I needed.

After 3 years or so I finally concentrated on focusing on one website (arbitrage) and started to build a solid business then recently I started another 2 sites which being a full time work from home guy I could manage but now I have been getting distracted by a few people that I have been coaching and have my arbitrage business with all my repeat clients, I've stopped prospecting for now, I have 2 sites to maintain with new and relevant content and at the beginning of this week I started several CPA Bing campaigns and am thinking about getting back into video and focusing on building my list faster plus launching my next product.

Now when I see it written out I know that I will be back to spending 10 to 12 hours a day working...I was thinking of outsourcing and have been looking for some good courses but my main concern is giving away my tricks, sure in arbitrage I was outsourcing but that is kind of different...

So I guess my question and what I would be greatful to hear is how many streams of income you guys concentrate on and do you outsource much? (Im not asking what the income streams are) but just getting an idea of how you manage your time would be helpful...

Thanks in advance for any replies.

Marc
#income #online #streams
  • Profile picture of the author Zodiax
    Outsource as much as possible.
    Signature

    'I hated every minute of training, but I said, 'Don't quit. Suffer now and live the rest of your life as a champion'
    -Muhammad Ali

    {{ DiscussionBoard.errors[10149098].message }}
  • Profile picture of the author ZanyZebra
    Originally Posted by daftdog View Post

    I know that this is quite a general question but for about 3 years I was trying to do everything at once, a bit of CPA, arbitrage, YouTube videos, Sniper sites and in the end I learnt a lot and made a little but didn't have the full time income that I needed.

    After 3 years or so I finally concentrated on focusing on one website (arbitrage) and started to build a solid business then recently I started another 2 sites which being a full time work from home guy I could manage but now I have been getting distracted by a few people that I have been coaching and have my arbitrage business with all my repeat clients, I've stopped prospecting for now, I have 2 sites to maintain with new and relevant content and at the beginning of this week I started several CPA Bing campaigns and am thinking about getting back into video and focusing on building my list faster plus launching my next product.

    Now when I see it written out I know that I will be back to spending 10 to 12 hours a day working...I was thinking of outsourcing and have been looking for some good courses but my main concern is giving away my tricks, sure in arbitrage I was outsourcing but that is kind of different...

    So I guess my question and what I would be greatful to hear is how many streams of income you guys concentrate on and do you outsource much? (Im not asking what the income streams are) but just getting an idea of how you manage your time would be helpful...

    Thanks in advance for any replies.

    Marc

    After many, many years of trying a large number of different online business models, I now have one stream of (very significant) income. It's ecommerce.

    Felt like i've spend a huge amount of time and money on IM 'gurus'. After doing this for sometime i began to realise that the 'gurus' were in fact mostly BS. But i still went ahead and kept buying their crap. All I ever had was minor success.

    Couple years ago I went into ecommerce, have never looked back. Six figure sales monthly.

    Good luck with your ventures.
    Signature
    Want Straight Answers About ASM? (Amazing Selling Machine). Go To:

    https://www.facebook.com/groups/ASMEntrepreneurs/
    {{ DiscussionBoard.errors[10149121].message }}
    • Profile picture of the author idiots89
      Originally Posted by ZanyZebra View Post

      After many, many years of trying a large number of different online business models, I now have one stream of (very significant) income. It's ecommerce.

      Felt like i've spend a huge amount of time and money on IM 'gurus'. After doing this for sometime i began to realise that the 'gurus' were in fact mostly BS. But i still went ahead and kept buying their crap. All I ever had was minor success.

      Couple years ago I went into ecommerce, have never looked back. Six figure sales monthly.

      Good luck with your ventures.
      Not all gurus are crap. The ones which try to sell for $5, $10. Those are totally crap. They're probably selling PLR ebooks written 100s of years ago.

      The ones that keep a certain standard and don't offer like a 75% commission, are where you need to be looking, if you're new and want real answers.
      {{ DiscussionBoard.errors[10151730].message }}
    • Profile picture of the author mentat47
      I tip my hat to your success!

      I tried some of those biz-ops, and you're right. Most of them are BS. You spend a lot of time to get marginal results. eCommerce is a huge business, and I heard that Amazon has a pretty good program for selling. The sales volume is pretty good as well -- at least from what I've heard.
      {{ DiscussionBoard.errors[10154294].message }}
      • Profile picture of the author Tyler Pratt
        You can have to many income streams, but you have to have one that is actually making you money.

        I used to have this same problem, and now I focus on one source and that to build an email list.
        Signature

        Get the Top 11 Millionaire Tools and 7 Of them are FREE
        >> Yes Get Instant Access <<

        {{ DiscussionBoard.errors[10154360].message }}
  • Profile picture of the author frambles
    Just posted a similar thread than saw yours. I am ike you, always trying lots of things out and finding it hard to stay focused on one thing. The one thing I found with a previous business was once I had around 1,000 unique hits a day, the rest flowed in quite quickly and naturally purely by making sure my site was accessible to the search engines and then pumping content into it daily. It was a product based website so I made sure everyday at various times I uploaded at least 10 new items. It really worked for me,
    {{ DiscussionBoard.errors[10149134].message }}
  • Profile picture of the author ProServices
    It's always good to diversify and look at a few different income streams. Too many and it's easy to lose focus and suffer from info overload....we've all been there, right?
    Signature
    {{ DiscussionBoard.errors[10149146].message }}
    • Profile picture of the author daftdog
      Originally Posted by ProServices View Post

      It's always good to diversify and look at a few different income streams. Too many and it's easy to lose focus and suffer from info overload....we've all been there, right?

      Thanks for the feedback. I spent a bit of time making a plan with paper and pen today and my projects and time just do not add up. I really think that I am going to learn more about eCommerce and building niche sites while building my list and focus only on that!!

      @ZanyZebra, would you be willing to point me in the direction that you took with your eCommerce site(s)?

      Thanks again....Have a great weekend!
      Signature
      MMO Product Reviews, Bonus Products and Marketing News!!
      The Wolf of Online Marketing
      {{ DiscussionBoard.errors[10149821].message }}
  • Profile picture of the author dana67
    How Many Online Income Streams is Enough??

    You should have enough to cover your expenses even if you lose 1 or 2.
    {{ DiscussionBoard.errors[10149934].message }}
    • Profile picture of the author daftdog
      Originally Posted by dana67 View Post

      How Many Online Income Streams is Enough??

      You should have enough to cover your expenses even if you lose 1 or 2.
      Helpful....thanks!
      Signature
      MMO Product Reviews, Bonus Products and Marketing News!!
      The Wolf of Online Marketing
      {{ DiscussionBoard.errors[10151414].message }}
  • Profile picture of the author RichardSalinas
    I would say, for me personally, I would at least want 3 income streams making me money so I can fall back on two if one happens to disappear, for me affiliate marketing model is very lucrative, totally hands-off.
    {{ DiscussionBoard.errors[10151851].message }}
    • Profile picture of the author iam8iam
      Finding one profitable stream is hard enough, but three...
      {{ DiscussionBoard.errors[10152000].message }}
      • Profile picture of the author kilgore
        When I read your post, I don't see "multiple income streams", I see multiple businesses. And these are very different things. Multiple income streams would be something like a single website using affiliate marketing and selling ad space on their website. Multiple businesses would be like running an arbitrage site, doing coaching, and creating new products. If they're all somehow linked to a single brand, I could see that working as a single business. For instance you could create new products that are upsells or loss leaders for your coaching activities. But my guess is you don't (and shouldn't!) offer coaching on your arbitrage site and your CPA campaigns aren't really related to the product your launching. In other words, you're juggling several distinct businesses.

        But is that a bad thing?

        One thing to consider is that growth for a successful business is often modeled using a sigmoid function or S-curve. This, of course, is an "average of averages" and may bear little resemblance with the experience of any one particular business, but in general what this means the following:
        • Businesses start with very little growth.
        • As they mature they hit a rapid period of exponential growth.
        • Eventually this growth flattens out.

        I should note that the point at which the exponential growth begins and then fades depends on a number of factors some of which you have some control over (such as how well you run your business) and some of which you don't (such as the total market size).

        Here's how that applies to you: Let's assume you have a successful business and the model above applies to you. (After all, if your business is not successful, it doesn't matter how many income streams you have as they'll all trend toward zero.) Now look at all the businesses you're juggling. Where do you fall within the signmoid curve for each of them? Are you still at the bottom, waiting for the exponential growth or are you in the midst of that exponential growth? Or have you already more or less maxxed out your market?

        If the latter, it may make sense to think about starting other businesses. But if you're going through exponential growth or if you're still trying to get there, I think you're making a mistake. Because of exponential growth it's usually much easier to take one business from $10,000/month to $20,000 (or whatever artibtrary figures you choose) than to keep one business humming along at $10,000/month and then grow an entirely new one to earn an additional $10,000/month.

        This doesn't mean you shouldn't branch out and grow your business. For instance, Google was able to use its core search to be able transform the way internet advertising worked, both in search and through AdSense. But at least initially, they largely focused on this core technology, just applying it in different, creative ways. So if I were you, I'd think about what your "core technology" is (or more accurately your competitive advantage) and think about how to build upon that in new and creative ways rather than just starting businesses left and right in an effort to chase a few bucks here and there.
        {{ DiscussionBoard.errors[10152206].message }}
  • Profile picture of the author fernelis2009
    How many income stream would enough?

    Well that´s depends on your situation
    on how much you need
    whether you have a wife, child.
    There are a lot of factor...

    But starting from 3 income you´ll be ok.
    Signature

    Will Design your Info Product Business for you

    Ebook
    Funnel
    Ads
    Etc

    Text me.

    {{ DiscussionBoard.errors[10152162].message }}
  • Profile picture of the author Randall Magwood
    Originally Posted by daftdog View Post

    So I guess my question and what I would be greatful to hear is how many streams of income you guys concentrate on and do you outsource much?
    I just count on 2 streams of income. One is very much larger than the other. Here they are:

    1) My ebook sales

    2) Ebook consulting

    That's it, and i have alot of free time to do whatever i want (and whoever i want ).
    {{ DiscussionBoard.errors[10152243].message }}
  • Profile picture of the author iAmNameLess
    Honestly a lot of the advice here, not necessarily this thread but this forum in general, when it comes to diversification is a bunch of crap.

    How many streams of income do you need? You need to have one solid stream before you think about a 2nd, 3rd, and 4th.

    It's easier to scale up one stream of income than to take another stream from 0 to whatever amount you're wanting.

    Diversification is for managing risk, while also expanding profits. If you don't have enough income in the first place, you're wasting time and spreading yourself thin if you think you need to diversify.

    Lets put it this way, if you open a brokerage account and you have $200 to invest.... there's no point in diversifying. Your "diversification" gets eatin alive by trade fees. The same thing applies in business.

    The whole "don't keep all your eggs in one basket" cliche is nonsense for most people on here, because most people only have one egg.

    Scale up your existing stream of income and then worry about diversifying.
    {{ DiscussionBoard.errors[10152580].message }}
    • Profile picture of the author Bradtastic
      Originally Posted by iAmNameLess View Post

      Honestly a lot of the advice here, not necessarily this thread but this forum in general, when it comes to diversification is a bunch of crap.

      How many streams of income do you need? You need to have one solid stream before you think about a 2nd, 3rd, and 4th.

      It's easier to scale up one stream of income than to take another stream from 0 to whatever amount you're wanting.

      Diversification is for managing risk, while also expanding profits. If you don't have enough income in the first place, you're wasting time and spreading yourself thin if you think you need to diversify.

      Lets put it this way, if you open a brokerage account and you have $200 to invest.... there's no point in diversifying. Your "diversification" gets eatin alive by trade fees. The same thing applies in business.

      The whole "don't keep all your eggs in one basket" cliche is nonsense for most people on here, because most people only have one egg.

      Scale up your existing stream of income and then worry about diversifying.
      This is the right advice.

      As you scale the stream of income, focus on creating robust, documented, repeatable systems for the crucial activities of your most profitable income stream. Think like a franchise here, they are the best at that process.

      Find the ones you love to do (or are a control freak about, let's face it, we all have one or two things we don't want others doing) and keep doing those. Outsource, hire, or automate the rest.

      Chances are, you'll make even more money than you expected at this point. All your energy will be focused on things you care about doing, and you have some level of peace of mind about everything happening in your business.

      As you continue to streamline, once you start gaining more free time, then sure, think about another income stream. At that point it's up to you - who knows, maybe the profit will be enough that you decide you'd rather take up a hobby instead of start another income stream.
      {{ DiscussionBoard.errors[10154427].message }}
  • Profile picture of the author web lover
    My Advice yo You : The Main Factor To keep Making Money Online is " Tracking " , First your work must be into different sources , I know it's very diffuclt to focus into more than one target but this is essential step at the beggning , after that you we see which of the sources have the best conversion and best earning , Now you should focus in your best source and don't forget the other sources .....

    I wish you Good Lck
    {{ DiscussionBoard.errors[10152663].message }}
  • Profile picture of the author jasondinner
    Originally Posted by daftdog View Post

    After 3 years or so I finally concentrated on focusing on one website (arbitrage) and started to build a solid business
    Seems like this was working for you the best out of everything else you've done or tried.

    Why not get back to this?

    Scale it as big as you can, then automate as much as you can and when that happens, either rinse and repeat with another site or branch out into other complimentary areas that can turn into additional income streams.

    You essentially answered your own question in your OP.

    I have multiple streams, but only a handful make me most of my money - and that is where my focus stays.

    Also, the streams I have are tied together in my businesses as well, so it's all part of one massive stream as opposed to being all over the place.
    Signature

    "Human thoughts have the tendency to transform themselves into their physical equivalent." Earl Nightingale

    Super Affiliates Hang Out Here

    {{ DiscussionBoard.errors[10152876].message }}
  • Profile picture of the author aizaku
    somewhere between 'WANT TO' and 'HAVE TO'.

    Are you loving your current state? If yes, then keeping moving. If no, then outsource or sell off some of your businesses



    best of luck,
    Ike
    Signature
    >> 2018 Money Making Method Video Guides [NO OPTIN] <<
    80% Of These Proven Guides Are Free... ]
    {{ DiscussionBoard.errors[10153048].message }}
  • Profile picture of the author JohnGravelle
    Even one is enough if you have mastered it and bringing in reliable money, but I would say two income streams would certainly be good..
    {{ DiscussionBoard.errors[10153517].message }}
  • Profile picture of the author JJHaynes
    One can be enough. I created a full time income by writing articles for SEO companies and then started selling website design, social media, and other internet marketing services.

    Now I am tired of dealing with clients all day so I am scaling down and focusing more on email and affiliate marketing for myself.
    {{ DiscussionBoard.errors[10154219].message }}
  • Profile picture of the author LaunchPurveyor
    I think you can be safe with just one income stream so long as you're not totally reliant on:
    1. only one affiliate program (what if they change their terms or stop affiliate program?)
    2. single source of traffic (e.g., Google SEO, etc.)
    Signature
    [New WSO]
    Create Fully-Functional WordPress Sites In Mere SECONDS With
    Only A Few Clicks Of Your Mouse Using This Powerful WP Plugin!
    >> CLICK HERE <<
    {{ DiscussionBoard.errors[10154270].message }}
  • Profile picture of the author John Moore
    Well having multiple income streams are always important, in case something happens. I try to focus my attention at one at the time and build that solid, before moving to the next one.
    {{ DiscussionBoard.errors[10154274].message }}
  • Profile picture of the author PedroKing
    Just one is enough, for me, there's no plan B, if you master just one income stream, that should be enough!

    just my opinion though..
    {{ DiscussionBoard.errors[10167417].message }}
  • Profile picture of the author BripTech
    Diversifying is the best strategy IMHO.

    Once you identify a successful source of stream, keep on that way but at the same time try an alternative source.

    I think everyone of us should find at least 3 (or better 4) different sources of income, because on the internet things change fast, and you cannot predict how much long it will last every source.

    I am currently running: affiliate marketing, email marketing, CPA marketing and selling SEO services directly. Currently the last is the one performing best, because it looks like webmasters selling services to webmasters is a trend that will never die.

    IMHO of course
    Signature

    "In three words I can sum up everything I've learned about life: it goes on". (Robert Frost)

    {{ DiscussionBoard.errors[10167429].message }}
  • Profile picture of the author Adrian112
    It's always good to have multiple income sources.

    I had one case when I invested a lot and my only income was Adsense, and they couldn't send payment that month.

    I was broke for 30 days until next month payment came.

    From that day I stated lot of thing online but I never use only one network as income source.
    {{ DiscussionBoard.errors[10167449].message }}
  • Profile picture of the author DN85
    Hey man,

    I think there's never enough, if you can grow your business and add multiple streams of income then you should.

    It doesn't need to take more of your time though. Just put systems in place that will maximize your time and efficiency. Outsourcing is one of those things when done right will free up your time and grow your business.

    I've got 4 people working for me from the Philippines and they rock. They're very skilled at what they do (I've got a SEO specialist, writer, social media manager, graphic designer) they also don't break the bank.

    The aim for me is to spend my time masterminding the ideas to grow my business while I get help doing the manual tasks.

    If you ever outsource I'd recommend Hire the best Filipino employees and virtual assistants the Philippines has to offer!

    All the best :-)
    Alan
    Signature
    {{ DiscussionBoard.errors[10167502].message }}
  • Profile picture of the author camnettcontent
    I would say having at least 3 is important. Never, ever put all your eggs in one basket. Especially not online. I know people who did that and had their rear ends handed to them when the slightest ripple of trouble came along.

    I currently have 4 sources of income and looking to add several more over the coming years. This is especially important if each source brings a significantly different level of income.
    {{ DiscussionBoard.errors[10167828].message }}
  • Profile picture of the author pitgam
    I read a few times that the average millionaire has 7 streams of income
    {{ DiscussionBoard.errors[10167910].message }}
    • Profile picture of the author Devilfish168
      if I'm you I focus on that one bring more revenue.
      the rest once a while etc if sick of doing the " main project "

      Presently I building my website keep adding content just start on May.
      other affiliate I do " occasionally "

      i just want to concentrate building the site first as building a site adding content " May look simple " but it does consume time .
      {{ DiscussionBoard.errors[10167924].message }}
  • Profile picture of the author Bigpanda
    I personally have three streams of income. A membership website, and two service based websites in the writing niche. All three business are fully outsourced. If your business models are risky methods that can vanish with a Google update, then it be hard to say how many streams would be a safe number. But if they are service based, around a niche that is in high demand and has little to no risk of fading out in the near future, then a handful should be more than suffice.

    I outsource in chunks, so that no one person has all the information to steal my business models. I am the middle man between workers and clients and would never hire anyone to do this position...out of fear of them stealing my business .

    -BigPanda
    {{ DiscussionBoard.errors[10168031].message }}
  • Profile picture of the author MatthewBass
    I don't focus on a particular income stream, such as a single affiliate product, Adsense, etc.

    I've always built a site to serve a particular market and then added monetization. Once I have a site up and running smoothly I'll focus on another market and repeat the process. I think the more diversified you become in your niche markets the better off you'll be.

    For example, if you're in the 40 year old woman weight loss market and Prevention or some other big brand comes out with the latest fad for that market you might have just lost market share.

    But, you also have sites in other markets like mens weight loss, green living, etc. So, your financial hit is minimal.
    {{ DiscussionBoard.errors[10168197].message }}

Trending Topics