Home-based business owner joined affiliate programs offered by big name retailers and earned money by imaginatively incorporating them into her heavily trafficked web site. To make easier marketing, it would be better that having specialization in one area
There are many benifits in having specialization in a single area. And you can also have multiple streams of income by trying in different ways in a particular business.
Everyone - well most people anyway - will agree that Multiple Streams of Income (MSI) is a good thing to have Think in terms of a river. One river may have hundreds of small tributaries and streams emptying into it along its path. Without these waterways, the river level would fall considerably and may one day disappear completely. The same is true in business. Your revenue is like that river; it needs to be nourished by many sources, not just one. If that one source slows down or dries up, the negative impact on the flow of your revenue is dramatic.
These are the examples that you've heard of the concept in terms of running an online business.This is the key for multiple streams of income.and which compliments to the existing income.
Just as investment advisers warn investors not to place all their eggs in one basket, so too you should avoid relying on just one golden goose. Get a flock of 'em!
Broadly speaking multiple income streams fall in to two categories active and passive. Whilst passive income streams are on the face of it the most attractive you should be aware that many of those you see advertised online are what they seem -too good to be true. You'd do well to be suspicious of any scheme that requires money upfront -not all of them are scams but many are. Do as much research as you can and never spend more than you can afford to lose unless you're certain of success.
So, if you're still looking for The Answer, your Big Break, The One, STOP. Stop thinking in terms of "ones" and start thinking in terms of multiples. Multiple part-time ventures (and don't limit yourself to just one part-time job and one part-time business, the best combination for you may be two part-time jobs and one part-time business - whatever works) which, when added together, bring in just as much or more income than your J.O.B. (Just Over Broke) and minimize your risk from the vagaries of forces and events over which you have no control.
There are many benifits in having specialization in a single area. And you can also have multiple streams of income by trying in different ways in a particular business.
Everyone - well most people anyway - will agree that Multiple Streams of Income (MSI) is a good thing to have Think in terms of a river. One river may have hundreds of small tributaries and streams emptying into it along its path. Without these waterways, the river level would fall considerably and may one day disappear completely. The same is true in business. Your revenue is like that river; it needs to be nourished by many sources, not just one. If that one source slows down or dries up, the negative impact on the flow of your revenue is dramatic.
These are the examples that you've heard of the concept in terms of running an online business.This is the key for multiple streams of income.and which compliments to the existing income.
Just as investment advisers warn investors not to place all their eggs in one basket, so too you should avoid relying on just one golden goose. Get a flock of 'em!
Broadly speaking multiple income streams fall in to two categories active and passive. Whilst passive income streams are on the face of it the most attractive you should be aware that many of those you see advertised online are what they seem -too good to be true. You'd do well to be suspicious of any scheme that requires money upfront -not all of them are scams but many are. Do as much research as you can and never spend more than you can afford to lose unless you're certain of success.
So, if you're still looking for The Answer, your Big Break, The One, STOP. Stop thinking in terms of "ones" and start thinking in terms of multiples. Multiple part-time ventures (and don't limit yourself to just one part-time job and one part-time business, the best combination for you may be two part-time jobs and one part-time business - whatever works) which, when added together, bring in just as much or more income than your J.O.B. (Just Over Broke) and minimize your risk from the vagaries of forces and events over which you have no control.
About the Author:
Earn multiple streams of income through a wireless business with Mike Prull. http://www.TeamUSAGlobal.com, is a new source where you can know how to create residual income from wireless products and services. This innovative wireless business is creating an unparalleled home based business opportunity for people everywhere. Visit the site and get benefited.
Post a Comment