Multiple Streams of Income - Does It Help or Hurt Your Online Success?

#1963 in SEO & Affiliate Marketing

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What Does It Mean to Create Multiple Streams of Income?

You hear it thrown around everywhere - in forums, in information products, on tele-seminar calls.

Is this just a catchy buzz phrase, or is it really possible to explain what multiple streams of income means?

Multiple streams of income is when you merge money-making opportunities on the internet. There are numerous ways to profit online, including AdSense, info products, affiliate marketing, and more.

When you take 2 or more methods and combine them, you've generated multiple streams of income, assuming they're bringing in revenue.

There are two camps who argue head to head about this concept - some saying you need multiple streams of income to reach your fullest potential, and those who believe it just acts as an obstacle and distraction to your success.

Let's investigate...

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Multiple Streams of Income - Let's Play Devil's Advocate

You're building up steam on the internet. You saw your first trickle of AdSense income ($1.43 - WooHoo!), you got an email from PayDotCom letting you know that you just made an affiliate sale, and you have Joe Designer whipping up your first membership site.

Sounds great, doesn't it?! You're seeing dollar signs floating all around you! But suddenly one day it's all too much. You're swamped, overloaded with emails and you're not even a guru yet!.

You have too many plates spinning in the air, so it all comes crashing down. You can't sustain the traffic-driving promotions of an affiliate, your members are hounding you for fresh content they paid for and forget building your AdSense site up - who has time to write hundreds of article pages?

The problem with multiple streams of income is that some people don't know that they have to develop a strategy early on - before they get swamped. They wait until it's too late and then frantically try to get organized.

It's okay to want to build an empire. Look at Trump - he has real estate, beauty pagents - even water and steak! (Let's just hope he doesn't move into the wig niche anytime soon).

If multiple streams of income sounds enticing to you, just learn to do it right - from the start.

Let's see how you can use a single niche and apply multiple streams of income to your financial portfolio.

Example of Taking 1 Niche and Creating Multiple Streams of Income

Stop Niche-Hopping!

Let's pretend you're targeting someone just like yourself - the online entrepreneur.

You target newbies, so you want to develop opportunities they'll easily latch onto:

1. Promote ClickBank Products as an Affiliate: Your first stream - the easiest and fastest way to make money online - is to work as an affiliate. In this case, you'd promote an info product via ClickBank that you felt was valuable and helpful to the newbie niche.
2. Build a List Via eBay: Ever see those $0.01 eBooks for auction on eBay? They're not worthless products - the authors are actually very 'net savvy in using those virtually-free info products as their bait to get you on their list.
3. Start Building Content Pages with AdSense: You don't have to have thousands of pages to begin with. But having your own domain with relevant, keyword-laden content will help you rise in the Google SERPs, not to mention tack on a few cents here and there with AdSense revenue.
4. Launch your own membership site.: A good example of this is how Craig Desorcy started building his list and branding himself in the marketing world - by launching a free membership site. Your site can always become a paid entity, but take the pressure off until you get rolling by making it a casual gathering spot for your demographic.

WARNING: The Pursuit of Multiple Streams of Income Can Lead to Information Overload

Entrepreneurs new to the online business world worry and are intimidated when they're inundated with endless offers and promises of fast cash.

Information overload creates a pitfall for those who don't yet know how to make one strategy a profitable venture, much less a dozen. They discover quickly that there are many roads to riches, but they don't know which one to choose, so they dilute their success chasing too many dreams at one time.

The Internet marketing novice decides to take many paths at once to see which one has the most profit potential. His attention is divided and no one venture ever becomes monetized.

So he gives up, soured on the entire "multiple streams of income" experience when all it would take to correct the mistake is focus and follow through.

Once you map out one step, move on to the next. Have a plan in place, but don't try to do too much, too soon.

Too many people believe the hype (true or not - it's still being glammed up to make you foam at the mouth for the same kind of money).

They see one person who made $1 million in one day and they, too, want to do that! Then they land on a page where one guy makes $500 per day on one minisite, and they follow that path, too - at the same time. Don't spread yourself too thin.

Instead of allowing yourself to fall victim to information overload in the Internet marketing world, make sure you put blinders on and stay in touch with one aspect of the marketing field at a time.

Get one system up and running and automated as much as possible, and then add on another stream of profits.

Need to know: Robert Allen

The term 'Multiple Streams of Income' was actually coined by Robert Allen, who is famous for the bestsellers like 'Nothing Down' and 'One Minute Millionaire'.

This is his book about multiple streams of INTERNET income, which gives you an insight into the world of online income generation.

It is a good read and I recommend it.

Multiple Streams of Internet Income

by: Robert G. Allen

Written by Robert Allen, the marketer who actually coined the term 'Multiple Streams of Income'.

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Amazon Price: (as of 01/09/2009)

Selling Information as One Stream of Online Income

Non-Fiction Information Is a Hot Commodity!

Information sells and can be a huge portion of your multiple streams of income strategy. We're at an era where we demand instantaneous results - who has time to drive to Barnes and Noble and sort through the shelves anymore?

Information lines the shelves at bookstores nationwide in the non-fiction section, but they're permeating the online market and catering to the needs of millions of online consumers hungry for advice and insight at all hours of the night.

As a seller of non-fiction information, you can build an empire of profits targeting a single niche of consumers. Or, branch out and offer solutions to a multitude of people who need guidance.

If you sell information products on the 'net, you'll get to charge more and keep almost 100% of the profits for yourself. Social Bookmark Traffic is a perfect example of this - a topic in demand, turned into an eBook!

Typically, a non-fiction book at Barnes and Noble would cost the consumer an average of $9.95 to $29.95. But when you're selling information products ready for instant download on the 'net, you get to price it higher, because the selling point usually begins at $37 and rises all the way to the top at a $97 price point.

Your overhead costs are low. Even if you outsource the creation of your information product, you're still able to recoup the investment after a short period of sales.

Why are consumers rapidly downloading information products? This is the age of high-tech development. Your readers may be sitting in an airport, accessing your eBook from their laptop.

They want information now, not the next business day. If their child is up sick crying from colic at 3:30 in the morning, a mom can't drive to a bookstore to get a self-help book - but she can log onto her personal computer and download your eBook, putting your advice into action within mere minutes.

Plus, they come with great money-back guarantees, so there's virtually no risk involved. Top quality is of utmost importance and you want to convince your readers near the end to start taking action with what they've learned to keep refund requests low and demand for your products high.

When you're developing your own multiple streams of income, make sure you center every aspect around what the public demands, and right now, downloadable information is one item you must have on your menu of success.

News Around the World Regarding Multiple Streams of Income

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Are You a Multiple Streams of Income Advocate?

Do You Dabble in It or Have Nightmares at the Mere Mention?

Have any tips, tricks, or warnings about multiple streams of income?

Don't just be a cautionary tale - share your wise words!

SEO & Affiliate Marketing

Multiple Streams of Income - Does It Help or Hurt Your Online Success? by myReview

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What Does It Mean to Create Multiple Streams of Income?

Want to See How Others Are Making Money Online?

Multiple Streams of Income - Let's Play Devil's Advocate

Example of Taking 1 Niche and Creating Multiple Streams of Income

Stop Niche-Hopping!

WARNING: The Pursuit of Multiple Streams of Income Can Lead to Information Overload

Need to know: Robert Allen

Multiple Streams of Internet Income

Selling Information as One Stream of Online Income

Non-Fiction Information Is a Hot Commodity!

News Around the World Regarding Multiple Streams of Income

Are You a Multiple Streams of Income Advocate?

Do You Dabble in It or Have Nightmares at the Mere Mention?

Multiple Streams of Internet Income

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