Multiple Streams Of Income?

by MommyEnterprises 13 replies
I am a believer in creating multiple streams of income. Anyone else?
#main internet marketing discussion forum #income #multiple #streams
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  • Profile picture of the author 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!
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  • Profile picture of the author 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.
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    • Profile picture of the author napoleonfirst
      Forex is a very good option.
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      • Profile picture of the author 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
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        Improvely: Built to track, test and optimize your marketing.

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        • Profile picture of the author 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.
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        • Profile picture of the author 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
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          ~ Matt Levenhagen
          Blog: Niche Marketing
          Latest WSO: Check Out Conversions Academy!

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