Too many times, I find people saying things that are negative based on their current situation of not being set up multiple income streams. This is a strategy that needs to be taught to all teenagers in our school system and the fact of the matter is that it’s not even on the radar.
How Can Multiple Income Streams Help Us In Todays World
In the financial realm, there’s nobody that has anything to do with being wealthy that have just one income stream. When I realized that I started looking for ways to diversify our income.
And no. if you and your wife/significant other are going to work bringing in two incomes. This is not the diversification I’m speaking about.
A job is not considered a smart income stream. Sure it’s a stream of income to get you started on your journey to becoming a healthy and wealthy entrepreneur, but when you are trading time for money. It’s a no-win solution.Diversification of income is not as hard as it seems. The wealthy have kept their secrets from the poor, but now I'm revealing their secrets for your benefit Click To Tweet
I’d like to encourage you to watch this short video on how you can start to pick something up and run with it until you’re making the kind of money you want from just one source, then diversify that as much as you can.
Multiple Income Streams That Build Your Entrepreneurial Empire
Here are 10 suggestions that can help you start diversifying your life.
Start Selling On eBayGranted this can be more legwork than it’s worth unless you have a system in place to take care of all the shipping, packaging, and other monotonous chores. However, this can be great for immediate cash flow. You can easily sell things you no longer want that still has value. If you’re the type that loves to handle inventory this is a great option for you. NOTE: Make sure you have yourself incorporated and you’ve figured out how the taxes will be declared. You’ll be selling nationwide and sometimes internationally. So get a great CPA to give you some advice.
Start A Brick & Mortar BusinessUsually, people who have a bit of money stored up will take this route. Knowing that it’s going to take at least 3-5 years to start making any type of money. This option will take the local community to support your ideas. This is why it will take some time to succeed with this business model. Usually, investors will go the route of a franchise because everything is set up for them. Also, the rate of failure is MUCH less than if you start from scratch. If you need to make money sooner than later, then you should consider the next option in this list.
Start An Online Business
There are many types of businesses out there on the internet and although there are a few that are scams that you don’t want to get stuck in, most of the businesses are honest people working their butts off to become successful. So if you’re going to do that you may want to start selling affiliate products through commission junction or Clickbank. These are 2 of the biggest platforms to help others sell their products to people.
The online affiliate model is more than just selling one product after another. You’ll want to sell something that is a renewable resource rather than a one time shot. Although the one time sale can be quite lucrative, you’ll need a residual income, which is why you will need a blog to start promoting your affiliate products as well as a place to call your home on the internet. Here are a few ideas you can do online for fast cash:
A place for the techie to do some testing for the developers on their newly created apps.
This is usually for those that have extra time but not enough money such as college students in their off time that can do things such as run errands, join a team of workers to help get a project done in the business world or for a private party.
- Upwork, Fiverr, Freelancer.
Pick up jobs for entrepreneurs and businesses around the world. You can do things such as a designer work, coder, graphic artist, or anything that is online related. FYI: Odesk is now part of eLance, which is all part of Upwork.
That’s right, Bing is now paying you to drop Google and start using their search engine. It’s worth your time to check it out and for the very sake of getting different types of results that Google doesn’t or won’t provide to you.
If you are a book enthusiast this might be a tougher option for you. To make money you need to find books that are sold at thrift stores for dirt cheap and then sell them for a higher price. For instance, you may find a book being sold for $.50 and then you turn around and sell that same book for $3-$5. It’s your job to find the book at a garage sale or a thrift store that has clearance on books. Use your smartphone to scan the book and get instant results on which books to buy and sell.
- Online Surveys
This may be one of the most intensive (at first) and yet profitable solutions to making money. You can do this on autopilot after you get your blog all set up and have written about 10 blog posts. Blogging is a multi-billion dollar per year business. I have met a few bloggers that have made over a million dollars in the last 18 months. It’s all in the power of relationships and providing value to your readers.
- Done For You Systems
Lately, there’s been a lot of talk about MIS (Multiple Income Streams). To really put your mind at ease, these things do work. But the only way to get yourself into profit with this type of business is to give yourself some time. Passively promote this sort of system. I’ve found an MIS (Multiple Income Streams) system which runs autopilot. This system includes a 400-day email campaign. The first 30-days are all training on how to make 6 figures in 90 days using this system. If you like step by step training, even if you are a newbie, you can make money if you can follow directions.
Here’s the link: http://SimpleWealth.Us/MultipleStreams
The process to this is simple and repeatable. Put your name and email address into the capture page. You’ll have the option of starting up your website. Typically, the cost involved here is buying a domain name and informing the company what your domain name is. You’ll want to buy hosting from them as well.
This is what I did. Blogging on this website is a suggestion that some will do or have them do the blogging (auto-blogging).
The domain name that I use for this program is located at http://www.rapidfinancialsolution.com/ You will be able to see what your site will look like out of the box after it’s been set up.
If you do not have a blog, this is a great start. It will be in the financial niche, make money niche and you’ll be able to do your own blogging or have them do it for you for a small price.
The plug-in profit website/blog will make multiple income streams easy for you. Rather than going through the bright shiny object syndrome, you can focus on driving people to your blog and let the blog solve the problems for those that find your blog.
Who Should Engage Multiple Income Streams?
There are many more opportunities to create multiple income streams that you can profit from in the short-term. None of them will be a viable option if you’re a lazy person or are a procrastinator. Just prepare yourself to work for what you get and everything will be worth the effort you put in.
So, get your thinking juices going and think of something you would enjoy doing. Then, get your blog all set up, and get some blog posts up for people to read. REMEMBER: a blog is a FREE method of promotion.
The blog platform allows you to suggest to people what you believe in. The best method is to recommend products that you’re already using and love. It builds a trust and trust is one of the 3 elements of building your tribe.
The blog I’m showing you is all set up for you with reviews and yes, you can start blogging on it and driving traffic to it as well. Many more tools are given to you that most DO NOT know about. All of these tools are sent to you in email and are also located in your blogging system.
In today’s society, it’s not a suggestion to use multiple Income streams, it’s required for abundant wealth. The only caveat to this statement is that you MUST work on one project at a time or have this all set up like a system, just like a done for your system would be packaged.