Multiple Streams of Income. Doesn’t that just sound nice? Most people struggle trying to get one stream on a consistent basis, whether that’s outside in the job market or online and network marketing.
There are differences of opinions about multiple streams of income and for the life of me, I just don’t understand the naysayers. But, they’re entitled to their thoughts and opinions.
I’ve heard it said on more than one occasion that if an individual is in a network marketing company and has multiple partners in his/her downline, that each of those people are an income stream.
And that’s true. Each business partner you enroll who is front line to you in your respective home based business opportunity is an income stream because you make money off of their production. In typical MLM business models, you may earn a commission (stream of income) off of several members downline from you, even though you didn’t personally enroll them.
Based on this senario, it’s been said by some to focus solely on the one home based business opportunity and allow your efforts into building leaders be the end all of your multiple streams of income. In other words, recruit more people into the one opportunity and each one becomes a stream of income.
Another opinion is this. Sure, you want to be a strong business builder to make money in your one opportunity and support your downline for those multiple streams of income. However, the flip side of the coin is this….. If that the one business opportunity shuts it’s doors, so does the income that was producing. Overnight. Immediately. Gone. Poof.
I would not suggest that a brand new rookie just getting started in a home based business opportunity take on multiple home businesses to begin with. It will be enough for them to just get going in one, let alone 2, but there are other ways to get some monthly cashflow through your checking account.
Other ways to generate multiple streams of income is to work solely your one home based business opportunity but market and promote your tools and resources. I know many network marketers who have access to these affiliate products but don’t count them as something marketable. Let’s look at a common list of products, tools and resources one can market outside of their business opportunity.
Video Submission Services
Training sites and platforms
These are the most common affiliate resources because they are all typical items in a network marketers toolbox. But what happens is the network marketer doesn’t add them to their blog for resources or do any extra marketing specifically about these tools so nobody every comes by their link. These must be prominately displayed on a menu of service/tools/resources built within the business owners online presence.
As you become more and more comfortable sharing, marketing, writing content, you will naturally add tools and resources to your toolbox and always check to see if an affiliate status is available. This will create multiple streams of income for you.
Just don’t go hog wild and bite off more than you can chew. Grow into your new shoes.
See my example of how your network marketing tools and resources can look on your blog.
If you enjoyed this content, please leave a comment and share how you are marketing your tools and resources or managing multiple streams of income. People are very interested in this stuff and your added thoughts and idea and experience will surely help others. I appreciate your comments and retweeting. Thanks!