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posted on:
6/20/2012 2:29:27 PM EST
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Importance of Creating Multiple Streams of Income
make money online, create multiple income streams, mutilple streams of income,
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One of the most important things I learnt in Making Money Online is to create Multiple Streams of Income. This has so much importance and needs to be remembered throughout your Marketing Campaigns. The trouble is, and I have done it myself, is that it is so easy to get hooked on one particular project, and then become so dependant on it that nothing else happens. Many people make this same mistake and very often do not even realise that they are doing it. They will spend hours or days or whatever putting their latest Campaign together then when its done simply sit back and wait … and wait …. and wait. You cannot become dependant on one system. Period.
The problem is, is that there are so many scams etc out there, where the rich gurus are simply ‘cashing-in’. This is what often causes the ‘Sit back and Wait’ scenario. What you need to learn, and learn early and fast is that there is no super one-button formula. The secret to success is time, hard work, dedication and creating the Multiple Streams of Income.
You will learn throughout this Blog many techniques for doing just that, and I will give you an idea now of how it all comes together. I will teach you over this Blog how to make money online from Blogs, Facebook, Websites, Fiverr, CPA and many other forms. The secret is to do all the methods I will teach you. Think about it. If you rely on one system, and one alone, then what happens if that method becomes saturated or dries up? Now lets say that from the above 5 methods I just described you start to average a mere $1.00 a day. That would be $30.00 a Month…… Each. So now all of a sudden that makes $150.00 a Month. Big difference. Now once you add more Income Streams, and build on the ones you have got, the measly $1.00 a day becomes $5.00 a day, then $10.00 a day and so forth. I will let you do the Mathematics yourself from here. Just stop for a moment and work it out.
Now if you had put all your faith in the one system then you would be stuck on your $30.00 a month, maybe more if lucky, but also maybe less or even nothing at all.
Creating these streams is not easy. Some take time and a lot of effort, but the beauty is that a lot of them once done really can be set-and-forget, which means they start to bring you a steady residual income permanently. For example, I have a site that does not really do very well. It makes about one Sale a month on average, making only about $27.00 each time. But it is every month. The good part is that I have not done anything to it for over a year, and it still makes the same on average. I would be more than happy to have another 7 or 8 of these ‘not doing very well’ sites. Are you starting to get the picture now? This site is one of many in just one particular Income stream. Build Multiple Streams of Income. Keep telling that to yourself until it is set firmly in your head.
The important thing as well to take from this is that you need to prepare yourself for failure before success. From the many Campaigns that you set up, try out, and pour many hours into, there will be some that fail miserably (probably quite a few initially), others that end up ‘not doing very well’, then other ones that quite literally take-off!
But its the combination of all of them that will bring you success. That is what you need to learn. That is what you need to remember. To Create Multiple Streams of Income.
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 | | Great post, thanks for sharing. |
| | |  | | This is a Great Blog Phil, teaches us to not put our eggs in one basket in case the basket breaks. Learned that lesson a long time ago, the Hard way! And if you can find business programs that compliment each other, not compete against each other, that is definitely a benefit! Happy IBO Marketing! |
| | |  | | Thanks for the kind words and comment Sandy |
| | |  | | Phil, this is a very good blog and very good advice. People become so tunnel visioned ... all they see is their one business and they focus on building only that one business. They lose sight of the fact that anything can happen to their one business that they have no control over and then they are then stuck. Multiple streams of income are definitely the answer for a truly successful professional marketer. Thanks for sharing! |
| | | | | Great comment Jack, thanks, and so true. I learnt that early as I used to just wait for 'something to happen' with one system etc. |
| | |  | | Thanks for sharing this Phil, very well said. Have a great day and GO IBO |
| | |  | | This is one of the reasons I love network marketing and affiliate marketing. There are so many opportunities to make money, how could anyone put all their eggs in one basket? Thanks for sharing Phil. |
| | |  | | i am new to this,but something to consider |
| | | | | Thanks for the feedback, agree with your trains of thought |
| | |  | | Two trains of thought... don't put all your eggs in one basket. The other is, if you put all your eggs in one basket, watch that basket! |
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