Multiple Streams Of Income
Of course this advice goes against the grain taught by most online gurus, upline sponsors, coaches and even many financial planners but hang with me here for a few minutes and I’m confident you’ll walk away with a better appreciation about why creating multiple steams of income is not only in your best interest, but how it will greatly increase your odds of having success as well.
Pick One Business Model and Focus
Wouldn’t you be better advised to pick one primary business model and focus 100% of your time and efforts towards building out that one business to give you the best chance of success?
Yes and No.
Let’s say you decide to join a well-known network marketing business in the health and wellness arena.
The company has been around for many years, has a proven track record and offers a wide variety of skin care, weight loss and nutritional supplements.
So you get in and get busy.
You set up a nice blog and a great looking Facebook Fan page and start driving traffic to your new online business by placing a few “business opportunity seeker” ads.
The ads work and, sure enough, you start getting a few leads.
But, let’s say you get 100 leads and NO ONE joins your team or buys any of your products…
How much money have you made?
And since you are ONLY promoting this one business opportunity and you are ONLY promoting products within that one niche – what are the chances any of those 100 people will come back some time in the future and actually make a purchase?
Creating Multiple Streams of Income
Same scenario…
Only this time let’s ALSO sign up to sell a few “affiliate marketing” programs that are not network marketing related and let’s ALSO sign up to offer tools, training and other “how to build your business” resources as well.
Because not every business opportunity seeker will be interested in joining a network marketing program… and not every person will be interested in buying your health and wellness products. But if you are attracting the right people and driving the right traffic to your site – MANY of these people will buy something if you present them with the right offer.
So the ONLY DIFFERENCE is you would add these additional OFFERS to your email follow up series to promote these additional products and services you now offer.
Now let’s crunch the numbers.
Again you get 100 leads who ALL SAY NO to joining your MLM deal but after a week or so of follow up emails about that one program – now they all get an offer to learn how to make money on Facebook. It’s only a $29 book, but it pays a good $15 commission and, sure enough… two people buy it and one of these guys also joins the monthly coaching program that pays out another $20 per month.
Next week you send out another email that promises to show them how to generate leads to promote their current business. And, sure enough, two more people join that program! You are now enjoying the wonderful benefits of creating multiple steams of income !
Multiple Streams Of Income Increase Your Odds of Success
When you learn how to create multiple streams of income you are putting the odds of success in your favor.
In fact, let me share my personal story and maybe this concept of “income diversification” will make more sense.
Back in 2004, I decided to start a business teaching computer stores how to get customers away from Dell and Gateway and the other big boys.
We sold a SYSTEM for $129.00 If they purchased the system we were golden. If they said NO to the offer we walked away empty handed.
So we added a monthly newsletter teaching how to please their customers and increase parts sales without spending $$$ on inventory or a warehouse to keep it. Selling parts and computers all over the world but it was not necessary to keep inventory in stock. They loved it! Now we had two things to offer. Then we added web site hosting and custom web site design and SEO and marketing advice.
The result? We increased our business almost overnight! Because while not every computer dealer or parts broker bought our SYSTEM… some purchased our monthly newsletter and a few more paid for hosting and a few more paid us to build them a custom web site. And, even better, once someone actually did business with us, they often went ahead and bought everything we had to offer. We earned their trust first and then we earned their business.
Multiple streams of income! And the ONLY DIFFERENCE was we added a newsletter to help increase their business at no cost to the stores! Something we were doing anyway, so we showed others how to do it. Similar to what we do on The Prosperity Team and Empower Network & the EZ Money Method.
WE TEACH OTHER THE KEYS TO OUR SUCCESS.
Multiple Streams of Internet Income
Now, worse case scenario – if one or two of those income streams goes down – it would be a bummer but it would not be catastrophic.
The key is to focus on your PRIMARY BUSINESS and leverage the marketing process to create multiple streams of income from a variety of sources by increasing your “product inventory”.
In our case, we FOCUS on building out our primary business, selling computers and parts & repairs but added an opportunity to teach others HOW we do it too. Which is now paying us over and above what the store was doing as the amount of people getting into the computer business skyrocketed. So we had to add another income stream. My wife being an artist, we decided to sell her art work on the internet. Then we added her teaching others to do what she does, like I added teaching others to do what I do.
We started selling other peoples products to add another stream of income.
THEN CAME BLOGGING FOR DOLLARS AS ANOTHER INCOME STREAM
But not everyone will be interested in building a profitable blogging business so we promote a variety of different money making programs on the BACKEND via our email auto-responder.
Most of these products come from Clickbank and we pull in an ADDITIONAL few hundred per week from that source.
We also feature tools, training and software from a variety of other free to join affiliate programs and pull in multiple streams of income from them as well.
So just think of all the money we would be leaving on the table if we JUST promoted one product, service or business opportunity.
MULTIPLE INCOME STREAMS = MULTIPLE PAYDAYS
Especially when you consider the fact that the ONLY DIFFERENCE is you are increasing your product inventory. Your marketing model pretty much stays the same.
![multiple income streams](https://thewordsinsidemyhead.wordpress.com/wp-content/uploads/2013/02/numbersgm2.jpeg?w=604)
In fact, I would venture to say it is far EASIER to attract the people who would be most likely to buy your PRIMARY product, service or business opportunity by leading with a variety of tips, tricks, tools, products, services and other opportunities in addition to your primary. It allows you to cast a wider net. After all internet marketing is purely a numbers game when it comes right down to it. Not everybody watching the Super Bowl likes Doritos or Budweiser but it didn’t stop them from paying exorbitant amounts of money on their commercials. Some Super Bowls were so lopsided that the commercials were more enjoyable than the game.
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“The Prosperity Team”
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