Multiple streams of income is a concept that Robert Allen talked about in a book a few years ago. The Internet actually makes this possible for ordinary people to do more easily than in the past. Here is why this is a good idea if you are making money online.
First of all putting all of your eggs in one basket is never a good idea in today’s economy. You could be representing a product or program that appears to be extremely stable.
However what would happen if the company that is sending you checks every month when out of business? For example what if you were a ClickBank affiliate and ClickBank closed their doors tomorrow? This could be a disaster to thousands of Internet marketers who rely on their products as their sole source of income.
You would hope that this would never happen. But the very fact that major corporations such as General Motors, Microsoft, and even Google are not as profitable as they once were should be a sign to you. Multiple streams of income is a good concept for your business because it protects you from the unforeseen.
A wise Internet marketer once said they would rather make $100 a month from 200 different programs, then they would to make $20,000 a month from one. This could never been more true than it is today in a faltering worldwide economy.
This article is not meant to be a doom and gloom article. In reality just the opposite should be true. Internet marketers have more opportunities to create multiple streams of income than anyone ever had in the past.
You do this by representing different products in different niches. Or by joining different programs in the same niche, but make money selling products in getting checks from multiple companies.
This is not hard to do because you can set up websites and blogs very quickly today. Driving traffic to them is not as hard as it once was either! Once you learn the skills creating multiple streams of income is extremely easy to do and is a smart thing as well.
Here’s another example of creating another stream of income. You can do a joint venture with other Internet marketers and combine your talents to make money. This is smart because it allows you to do the things that you enjoy most and work with people who have talents different than your own.
In summary you should now get the point about multiple streams of income being a good concept for your business.