Reasons Why Multiple Stream of Income Will Make You More Successful

Guy Mendelson
 


Visitors: 103

One of my favorite things about being an internet entrepreneur is that I can literally wake up in the morning with an idea for a new product and have it become a reality by the afternoon. Or I can find new ways to promote an existing product. Or I can join a new affiliate program. Every time I repeat this process, I create a new stream of income to add to my existing revenue base. The reality is that prosperity and security do not just come from following one area of professional expertise but from using all of our gifts and talents fully. The whole idea of multiple income streams is a reflection of the fact that people who have any level of self-awareness realize that they have multiple talents.

If you have multiple streams of income, the loss of one income stream will not devastate you the way losing your only stream would. If you rely on only one source of income, and that single income source goes away you're left broke and desperate. This is why every successful internet entrepreneur I know has multiple streams of income.

Once you become self-employed the next step is to consider all your options like, writing a book, managing property, becoming a public speaker, consulting, coaching, being a tour guide and go on and do other things too.

The biggest advantages of running a multiple revenue stream business are:

  • 1. A continuity of cash flow that is not present in a single source business.

  • 2. It attracts a wider variety of people and opportunities to you that wouldn't otherwise have appeared.

  • 3. When you're living with passion everything you do is done well, this isn't just good for you and your self-esteem it's terrific for your clients too.

  • 4. Following your own calling is the most responsible thing you can do.

  • 5. Greater peace of mind and security.

    That exactly why I encourage my readers, newsletter subscribers and e-business clients to establish multiple streams of income, which is easy to do online. However, there is not one but innumerable opportunity for those involved in e-commerce to make money on the web. Some of these are listed below:

    [1] Selling Info Products. Your company’s core competency could be of real help to select people across the globe. You can transform this into an information product in the form of e-book or ezine, which will guide others in a step-by-step manner. Either you can charge for your information or better still, create a database using information about those who wish to download your product for free. This database can fetch you a decent amount.

    [2] Become an affiliate marketer. This is one of my favorite ways to create multiple streams of income because there are hundreds (if not thousands) of affiliate programs that you can sign on with and begin making money immediately. As an affiliate marketer, you market a company's product or service, and when you send them a customer or make a sale, you're paid a commission. You can sign on with as many affiliate programs as you like, and each one has the potential of creating another stream of income for you. Many internet entrepreneurs have become millionaires without ever having a product of their own. They did it by promoting affiliate programs.

    [3] Selling services. The best part of Internet is the ability to reach out to millions across the world. If you are a service provider, it could be possible for you to provide this service to someone in the different time zone. For instance, a copywriting studio or a designing studio can work online. There are various sites, which offer such opportunities.

    [4] Market your services online. Are you a computer programmer, a writer or editor, or a graphic artist or website designer? If so, you can market your services to customers around the world, and it doesn't cost you a dime.

    These are just a few ways to create multiple streams of income. There are hundreds of other ways to make money online. No matter which ones you pursue, just remember, the more streams of income you have, the bigger your money lake becomes.

    Guy Mendelson, is a respected internet marketing expert, and the founder of leading home business http://www.great-money.net His website contains the best make money, and make money online tools anyone can use to get started making money from the comfort of their own home. To subscribe to Guy Mendelson E-zine, send blank email to great-money4u@aweber.com or goto: http://great-money.net/newsletter.html

  • (793)

    Article Source:


     
    Rate this Article: 
     
    Creative Multiple Passive Income Streams: Make Money from your Artistic Talent
    Rated 4 / 5
    based on 5 votes
    ArticleSlash

    Related Articles:

    Multiple Stream of Income - Multiple Stream of Residual Income Online

    by: Lubano Lim (February 04, 2008) 
    (Home Based Business/Network Marketing)

    Earn Multiple Income Stream Online. How to Automate Internet Income

    by: Ben Frank (February 01, 2010) 
    (Internet and Businesses Online)

    Are You Using These Primary Concepts To Create A Multiple Stream of Income?

    by: Earl Taylor (June 10, 2007) 
    (Home Based Business)

    3 Free Ways to Make Money Online That Can Create a Perpetual Income Stream For ..

    by: Fabian Tan (July 28, 2008) 
    (Internet and Businesses Online)

    Make Money Online - Turn a Simple Web Site Into an Income Stream

    by: Angela Booth (July 09, 2008) 
    (Internet and Businesses Online/Internet Marketing)

    Can You Make Multiple Streams Of Income Online?

    by: Don Hayes (April 30, 2007) 
    (Internet and Businesses Online)

    Create Multiple Streams Of Income And Make Money

    by: Kevin French (June 09, 2007) 
    (Home Based Business)

    Residual Income Affiliate Program - Building an Income Stream

    by: Joe Simpson (September 14, 2008) 
    (Internet and Businesses Online/Affiliate Revenue)

    The Secrets To Using Multiple Marketing Strategies For Multiple Streams Of ..

    by: Liz Tomey (September 06, 2006) 
    (Home Based Business)

    Creative Multiple Passive Income Streams: Make Money from your Artistic Talent

    by: Angela Booth (December 11, 2005) 
    (Business/Entrepreneurialism)