Multiple Streams of Income – The Marketer’s Dream
Multiple Streams of Income – The Marketer’s Dream
Throughout history, many financial experts has extolled the need for financial diversity. They understood the risks of only having a single source of income and have written many books and articles explaining that risk. Unfortunately, a large percentage of the world still doesn’t understand diversifying. They understand the concept but are afraid to deviate from the status quo for fear of alienating their friends and family.
Many of the decisions people make throughout their lives are predicated on their upbringing. They have been taught to do what their leaders (parents and grandparents) are doing and not to try new, risky adventures. This concept has its roots in early creatures where survival of the individual was necessary the good of the group. The larger the group, the better the chances of surviving an attack from predators or other clans.
The risk of this style of upbringing is that new concepts are considered exceptionally risky, whether they are or not. Because the clan dictates what is acceptable and unacceptable, new thoughts are quickly ridiculed and dismissed. It takes an unusual amount of effort and fortitude to survive the efforts of the clan to kill an idea. Not that the idea is good or bad, it’s just different and that is unacceptable.
In today’s world, that used to mean working a job for 30 or 40 years and retiring. People who moved between jobs who called job-hoppers and usually felt the wrath of the clan. They were ridiculed for failing to stay in that one position, like their ancestors did. Whether they were able to improve their lifestyle was irrelevant. They were different and that was not acceptable.
People who worked in direct sales seemed to be the people that were disliked the most. Because of the quantity of true scam artists, the salesman was considered a scam artist whether he was legitimate or not. These salesmen, because of their nature, were also people that understood the benefit of having multiple products to sell. That way they almost always had something of interest to everyone. This allowed them to make a sale when other people that didn’t have multiple products would walk away empty handed.
As sales and marketing evolved, these people taught their protégés the way they were selling and how to incorporate that thought process into their lives. As this passed from generation to generation, more and more people began to understand the financial benefits of having these multiple income sources. At some point, this process came to be called multiple streams of income.
Unfortunately, because this concept is different from the traditional, single income source, many people today still don’t understand. They don’t understand that multiple income streams will allow fluctuations in the market to occur without impacting the total income. The more streams of income that exist, the better the chance of having your lifestyle survive market changes. You don’t have to panic because something changes. You also have less financial risk of being laid off or downsized because you are not dependant one only one income source.
The vast majority of today’s marketers have been taught to develop multiple income streams for the reasons listed above. In review, they will have a more stable financial picture. They usually will develop a larger gross income. They tend to have a standard of living that is higher than the people around them. Usually they will be risk takers, chasing the new opportunities that come on the market to try to grab their piece of the pie before it gets out to the masses.
Today’s marketers are living in the best financial times. They have the opportunity, and because of online marketing, the total number of opportunities available is almost mind boggling. Any marketer that does not have at least three different income streams is missing the boat. Only marketing a single product or service is grossly inefficient and limits their total income potential. As with the true direct salesman, the more products one can offer, the better the chance of putting money in your pocket.
Multiple Streams of Income The Marketers Dream - To learn more about this author, visit Bill Palte's Website.
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According to a recent survey, over 80% of the population is committing a serious lifestyle error. They are banking their entire livelihood on a single income. If that one income stream is disrupted, they will face a serious financial situation.
Throughout history, many financial experts has extolled the need for financial diversity. They understood the risks of only having a single source of income and have written many books and articles explaining that risk. Unfortunately, a large percentage of the world still doesn’t understand diversifying. They understand the concept but are afraid to deviate from the status quo for fear of alienating their friends and family.
Many of the decisions people make throughout their lives are predicated on their upbringing. They have been taught to do what their leaders (parents and grandparents) are doing and not to try new, risky adventures. This concept has its roots in early creatures where survival of the individual was necessary the good of the group. The larger the group, the better the chances of surviving an attack from predators or other clans.
The risk of this style of upbringing is that new concepts are considered exceptionally risky, whether they are or not. Because the clan dictates what is acceptable and unacceptable, new thoughts are quickly ridiculed and dismissed. It takes an unusual amount of effort and fortitude to survive the efforts of the clan to kill an idea. Not that the idea is good or bad, it’s just different and that is unacceptable.
In today’s world, that used to mean working a job for 30 or 40 years and retiring. People who moved between jobs who called job-hoppers and usually felt the wrath of the clan. They were ridiculed for failing to stay in that one position, like their ancestors did. Whether they were able to improve their lifestyle was irrelevant. They were different and that was not acceptable.
People who worked in direct sales seemed to be the people that were disliked the most. Because of the quantity of true scam artists, the salesman was considered a scam artist whether he was legitimate or not. These salesmen, because of their nature, were also people that understood the benefit of having multiple products to sell. That way they almost always had something of interest to everyone. This allowed them to make a sale when other people that didn’t have multiple products would walk away empty handed.
As sales and marketing evolved, these people taught their protégés the way they were selling and how to incorporate that thought process into their lives. As this passed from generation to generation, more and more people began to understand the financial benefits of having these multiple income sources. At some point, this process came to be called multiple streams of income.
Unfortunately, because this concept is different from the traditional, single income source, many people today still don’t understand. They don’t understand that multiple income streams will allow fluctuations in the market to occur without impacting the total income. The more streams of income that exist, the better the chance of having your lifestyle survive market changes. You don’t have to panic because something changes. You also have less financial risk of being laid off or downsized because you are not dependant one only one income source.
The vast majority of today’s marketers have been taught to develop multiple income streams for the reasons listed above. In review, they will have a more stable financial picture. They usually will develop a larger gross income. They tend to have a standard of living that is higher than the people around them. Usually they will be risk takers, chasing the new opportunities that come on the market to try to grab their piece of the pie before it gets out to the masses.
Today’s marketers are living in the best financial times. They have the opportunity, and because of online marketing, the total number of opportunities available is almost mind boggling. Any marketer that does not have at least three different income streams is missing the boat. Only marketing a single product or service is grossly inefficient and limits their total income potential. As with the true direct salesman, the more products one can offer, the better the chance of putting money in your pocket.
Multiple Streams of Income The Marketers Dream - To learn more about this author, visit Bill Palte's Website.
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Stephanie RobeyStephanie Robey is President and CoFounder of Pivot Positive, LLC - an Internet marketing business focused on helping people start work at home ventures. Previously, she was employed at The Search Agency with over 20 years experience in graphic design and 10 years experience in online marketing. She was responsible for launching the Conversion Path Optimization (CPO) unit where she and her team have conducted hundreds of optimization tests for online companies across multiple verticals. She is a successful entrepreneur having started and sold 2 companies and remains on the board of directors of the third, PhotoSpin.com Stephanie began her career in the direct marketing realm creating and producing direct mail for many of the major cable television companies and directly attributes her understanding of Internet marketing to those early offline experiences. Stephanie is a graduate of San Diego State University with a BFA in Graphic Arts and also holds an Executive MBA from the Graziadio School of Business and Management at Pepperdine University. Read Steph's Blog Meet Steph and Dave Sign up for our Free 7-Day BootCamp: Self Employed & Rich - Visit Stephanie Robey's Website |
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