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Why Multiple Income Streams Work

Written by: Robin Elliott

Article Overview: Use what works and make more money, plus increase the stability of your business.

Why Multiple Income Streams Work

Small business owners understand the danger and frustration of seasonal sales. That “Feast or Famine”, “Chicken or Feathers” scenario can be hard unless you are very careful in your planning. And some things, like a fire, a water shortage, or a new competitor, cannot be planned for, except with a substantial financial cushion. Multiple Income Streams takes care of seasonality if they’re from different industries and different geographic areas. Another threat that can be diluted and even removed from your business by multiple, diverse income streams is “Having all your eggs in one basket”, meaning one major supplier, customer, or regional market.

Joint Ventures allow you to create and develop multiple back-end income sources that can eventually eclipse the income from your traditional business for two simple reasons: First, the income from Joint Ventures is generally 100% profit. Secondly, there are virtually unlimited JV options out there, so you can create multiple income streams that in turn create more opportunities for you. Once you get out of the ego box, you will see many options that you never realized existed. It’s like switching on a three million candlepower flashlight in a dark diamond mine. Opportunities leap out at you, and the more sophisticated your approach, the more JV’s you will attract.

We’ve all heard the term, “Multiple Income Sources”, but the fact is that the people touting them seldom do it in their own lives, in the real world. And if they do, those income sources are generally limited in range, reach, and genre. I’m talking about real world, real business, real money from diverse sources. It takes a little setting up and managing, but it’s nothing compared to running a conventional, risky, and expensive business. Especially if you carefully remove the risk and cost from all your Joint Ventures.

Where do you start? If you haven’t joined the DollarMakers Joint Venture Forum, do so right away at www.DollarMakers.com. Then get our training, get involved and get active. And if you are a Member, get more active and involved. It’s a lot easier to succeed when you have the support and input from others with the same ideas and understanding, so surround yourself with people who under stand and love JV’s in order to fast track your path to success, retirement and fun. See our Hotel Sponsor below – highly recommended!

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Related Forum Posts
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: 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.
What are your success criteria? - 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?
Re: Five Personality Traits of Successful Business Owners - 1. Focus 2. Ability to Adapt 3. Hard Work 4. Good planning 5. People Skills


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