Tweet

3 Reasons Why You Aren't Making Money From Multiple Streams of Income

Written by: Michele Pariza Wacek

Article Overview: If your multiple streams of income look more like trickles or maybe a ditch filled with water, you're in the right place. Below are 3 reasons why you aren't making any money from multiple streams of income and what you can do to fix it.

3 Reasons Why You Aren't Making Money From Multiple Streams of Income

Imagine -- money flowing into your business from all sorts of places. That's what it's like to have multiple streams of income. Your business isn't dependent on one stream of income but instead you can make money from a variety of places. Is that what your business actually looks like? Or are your streams limited to one or two? Especially for you service providers out there, I know it can feel a little daunting to think about creating other streams of income. But the reality is, if you don't do it you're really going to be limiting your growth. So, with that said, if your multiple streams of income look more like trickles or maybe a ditch filled with water, you're in the right place. Below are 3 reasons why you aren't making any money from multiple streams of income and what you can do to fix it. 1. Start selling something other than your services. Okay, this sounds really obvious but we got to start somewhere. And this might be the reason why your business doesn't look the way you'd like it to. So which category do you fit in? Are you working on the same info product or book for the last 6 years and are (almost!) done with it? Or do you create products the way you change your clothes but you never actually put a marketing system around them so you actually sell a few? Regardless, you need to stop what you're doing right now and take stock of what you have. If you're still struggling to finish your first product, remember good is good enough, and you're losing money every day you're not selling that product. Ditto for the too many products and no way to sell them. Put a plan together to get them on your site so you can start getting some income in the door. 2. You have info products but they aren't selling terribly well. There could be a number of things wrong, but here are some of the top problems: * You don't have a sales letter (or the sales letter you have isn't very good) * You don't have anyone visiting your sales letter on your web site * You don't have the RIGHT people visiting your sales letter on your web site (i.e. those who would actually be interested in buying your product) * You're selling something your target market isn't much interested in buying You may need to hire an expert to help you pinpoint which one (or ones) is the problem. 3. You're not thinking outside the box. There are more ways to get multiple streams of income then selling an info product. There are group programs, licensing, certifications, classes, events and more. Or maybe you need to vary your service offerings or offer a high-ticket program. There are a lot of different ways you can package what you sell, and depending on your prospect, they might want something different than your usual offerings. My guess is you have a bunch of loyal fans following you, but if you're not packaging what you offer in a way that's attractive to them, they won't bite. They need to feel like what you're offering is a fit for them. So try mixing it up. Offer some out of the box things and see what happens. Who knows, you might discover a whole new product line out of it.

Related Articles
  Home Business Expert: Multiple Streams of Income
  Why Multiple Streams Of Internet Income Is The Best Way To Go
  MULTIPLE STREAMS OF INCOME IS NOT DUMB
  You Must Have Multiple Income Streams in Your Home Based Business
  Four Benefits of Earning Residual Income Online

Article Tags: 6 years, all sorts, clothes, ditch, ditto, marketing system, money, multiple streams of income, service providers, stock, streams of income, trickles



Related Forum Posts
Making Money in 2011 - Hello forum members! As we draw closer to the new year I thought it would be appropriate to change the title of our forum category "Making Money in 2010" to "Making Money in 2011" - I'm looking forward to some interesting discussions and wish everyone a prosperous New Year!
Revenue Streams for Websites - Too funny, I was just reading a book: Multiple Streams of Internet Income: How Ordinary People make extraordinary money on line, by Robert G. Allen. 2001 That's a misnomer, though - they're not ordinary people, they're people with established careers who can take their expertise and exploit it on the web. Ways to generate income? 1) Sell your own material on the site. Ebooks, etc. 2) Join various affiliate programs that match what your website is about. 3) Google adsense - All my money comes from this... it's started out slow but as readership of my sites grown, the income has grown. Nothing to write home about yet... 4) Google adwords - the advertisers whose ads show up on Google Adsense. Unless you're selling big ticket items on your site you don't want to use it, your keywords can cost from 20 cents upwards.
Re: UPDATES: New Campaign! New Layout! New Ideas! - [quote="Ringo So":2696kbgu]Trent - It's actually a sub-forum within the "Making Money in 2010" category. Please let me know if there are any troubles finding it.[/quote:2696kbgu] Nope, still don't see it. I see the Online Businesses forum but that has been there for a long time. Is that what you mean? I don't see any Internet Marketing section.
Re: What are your success criteria? - [quote="DwayneGarrett":1igrdgib]Out of curiousity, what has to be present for you to know that your business is a success? The top three things for me are: 1. Maintaining a 6 figure income year in and year out. 2. Creating and promoting my own products. 3. Income not solely dependent upon my personal effort. How about yours?[/quote:1igrdgib] I would have to say mine were: 1. Monthly Residual Income that exceeds all expenses by 110% 2. Free time to create and promote my own products (relies on #1) 3. 5% of all revenues generated by my team going to feed starving kids Now that is "feel good work".
Re: Bad SEO techniques? - [quote="jacksonp":1y3g8bot]that is quite true.We all should avoid these kind of techniques.I am here sharing few more points which we should take in mind..As an experienced person of SEO I want to share here some facts which should be avoided by us.I hope that these will help some of the newcomers a lot.. Choosing a title that has no relation to the content on the page Using extremely lengthy titles that are unhelpful to users Using a single title tag across all of your site’s pages or a large group of pages Stuffing unneeded keywords in your title tags Writing description meta tag that has no relation to the content on the page Multiple domains Multiple identical sites Cross Linking[/quote:1y3g8bot] re: Cross Linking, how do you define that? I thought linking to other pages on your website (that are related) was a good thing...maybe that's not what you meant.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

Email Marketing Made Easy #11 - Avoiding Spam

Soda Vending Machine = Energy Hog

Business Coach Explains To You How To Add Value

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.