Are you serious about securing your financial future?
Then focus on creating 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 me explain.
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
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 and… viola! You are now enjoying the wonderful benefits of creating multiple steams of internet income!
Putting the Odds of Success in Your Favor
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 journey online and maybe this concept of “income diversification” will make more sense.
Back in 1996 my wife and I decided to start a business teaching real estate agents and brokers how to get more leads and sales without prospecting.
We sold a SYSTEM for $647. 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 to our product inventory and now we had two things to offer. Then we added web site hosting and custom web site design.
The result? We tripled our business almost overnight! Because while not every agent or 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.
Multiple streams of income! And the ONLY DIFFERENCE was we added product inventory.
Multiple Streams of Internet Income
Since 1996 we have built FIVE six-figure, even multiple six-figure business online. Well, actually just ONE business – consisting of varied diversified revenue streams.
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 affiliate marketing business which is now paying us over $40,000 per month in commissions. Over $94,000 in the past 90 days alone.
But not everyone will be interested in building a profitable blogging business so we promote a variety of different make money program on the BACKEND via our email autoresponder.
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.
Doesn't make much sense, does it?
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.
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.
Bless and be blessed,
PS – Make sure to LIKE, COMMENT and SHARE this post. What challenges are you struggling with? What have you learned here today? How can I best help you produce the results you are looking for?