By reading this article, you’ll discover that creating multiple streams of income is not as difficult as you may believe and that the rewards can be very exciting and worthwhile. While not as prevelant years ago, today’s network marketing leaders almost always use multiple streams of income to create lasting financial security.
Perhaps you’re one of the lucky ones and the recent economy hasn’t really affected the company you work for and seems to have held its own. You’re still working. In fact, you may even feel a sense of security because your boss told you not to worry. Don’t be gullible. Anytime you work for someone else, you’re always dispensable and one pink slip away from financial disaster.
Here’s where you can bridge the gap between maintaining your job/career and build a financial empire online through creating multiple streams of income. It makes for a restful sleep and alleviates all panic when watching the 6 O’clock prime time news with the unfolding events of falling stocks, more bankruptcies and world crisis matters.
Bankruptcy and having to shut the doors can happen to anyone and any business. The only way to protect yourself is by diversifying your income, just as you would diversify your money assets under management. Creating multiple streams of income is just good business sense these days. And it can actually be fun.
There are many ways to diversify your income. I’m certainly not referring to taking on a second and third job. I’m talking about starting a business of your own where over the next 12 months you can create an autopilot system that becomes a literal cashflow machine. And, you’ll enjoy reaping the tax advantages of business ownership at the same time.
If families knew how to create multiple streams of income, and be willing to put a little (or a lot of) elbow grease and time equity into the learning process, they would have a lifestyle most just dream about.
It’s not necessary to quit your job or give up your career. Far from it. It may be a good idea however, to begin diverting 10 hours a week or so of watching television into studying things like internet marketing, establishing your brand online, starting a blog, discovering the power of video marketing, uncovering the secrets to promoting a product or service and shopping for the right multiple streams of income system and marketing funnel that will work for you.
Slowly but surely, you’ll begin to build a list of prospects that you can market to over a lifetime. Some of these prospects will purchase your products or services and become loyal customers over the years.
Furthermore, you’ll want to consider various types of products and services. Information products, for example, are in high demand. Products that share the knowledge of how to create wealth online reveal exactly how to market and why you want to do something a particular way.
You’ll want to diversity and create income from what’s called ‘high ticket’ products that offer tremendous value to families. You’ll perhaps also consider a lower priced item that produces residual income on a monthly basis. So, you have a lot of things going here at once.
The process is referred to as having a ‘marketing funnel’. You’ll use a multiple streams of income system for this. It’s a combination of these things:
1) Low cost, high value, information product or tool or resource.
2) Low cost start up primary business that’s unique and in demand for long term residual income
3) High ticket item for primary business which is a one-time purchase that has tremendous value. It will be an in-demand high ticket but under value product.
4) A system that automatically follows up and helps you build a relationship with your customers.
You will have what’s called your ‘primary business’ inside your multiple streams of income system along with the other affiliate products at the price points listed above. It will not unusual to find 15 plus products and services inside these funnels. This means you’ll have 15 plus sources of income coming in each month.
There are various multiple streams of income systems that offer these types of price point products and services. However, you must make sure the products inside those funnels are true value and not a bunch of hype and garbage. This is the due diligence you’ll need to do.
Once you’ve found your multiple streams of income system (your marketing funnel), then it’s time to learn to market. Patience, commitment and determination in learning these skillsets will set you on a path to creating a 7 figure income over the next 3-5 years.
In this way, should the unthinkable happen and you are handed a pink slip without any notice, or even with notice, your world won’t fall apart. You have a plan B. You have a well planned backup.
In many instances, you’ll find that your creation of multiple streams of income out performs your job or career. At that point, you’ll have the option to continue to be employed or quit based on the level of fulfillment your job brings to your life. Now you’re talking lifestyle. Here’s where you decide how you’ll spend your time and how you’ll design your days for the rest of your life.
If you don’t have a wealth sales funnel or want to know what one looks like, visit:
Debbie Turner is a Renegade University Professional, a network marketing coach and business owner and is the author of ‘How to Avoid the 7 Most Common Rookie Mistakes New Home Based Business Owners Make.’ A free copy of this book is available on her website at http://www.MentoringWithHeart.com..
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