Multiple Streams of Income – Different Perspectives

Copy (2) of make_money_online-300x200Multiple 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.

Autoresponder
Video Submission Services
Website Software
Hosting
Training sites and platforms
Blogging services
Information services

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!

Debbie

Comments

  1. says

    Multiple streams of income is my passion. As long as you said above, to have all things in place so you don’t miss a beat, it can be done. Juggling is easy when you practice. I feel it is the way to go because think of investing…would you put all your eggs in one basket? Of course not, have to spread it around. This is the same as creating income. Woopie…thanks for this amazing blog post! It makes me feel sane.
    .-= Donna Merrill´s last blog ..11 Steps to Cultivate Your Internet Marketing =-.

  2. says

    I totally agree with your philosophy about developing multiple streams of income. No longer can we count on one company providing for us, especially in the Network Marketing arena. Smart business people from ALL walks of life invest their money into several different “systems” that generate cash flow, whether it be real estate, merchandising, services, etc. Warren Buffet is the King of this and he owns a couple of NM companies to prove it! When we want to own our own lives, it is up to us to ensure the cash flow keeps coming. As long as we build our multiple businesses ethically, there is nothing wrong with having more than one.
    ~Mary Lou
    .-= Mary Lou Kayser´s last blog ..Why Saying Thank You Will Increase the Value of Your Personal Brand 100-Fold =-.

  3. says

    hey Debbie!

    I completely agree that people need to capitalize on multiple streams of income! Look at iLearningGlobal, for example… I was not involved with this company but I heard about it just shutting down it’s internet marketing branch overnight. People were making 10’s of thousands of dollars per month… and that company is just one example.

    I would also suggest that affiliate marketing is a great place to GET STARTED in internet marketing even before joining a company. It gives you the opportunity to begin building your list, to learn HOW to market online (which let’s face it, there is a learning curve and it DOES take time), and allows you to get more familiar with the various leaders in the internet marketing scene so you can make a more educated decision when choosing a company.

    I completely agree with you though about the importance of multiple streams of income and LOVE that internet marketing is one of the few industries that allow you to have as many income streams as you want AND allows you to leverage your time so greatly!

    Thanks for sharing! :)
    .-= Amanda´s last blog ..Tribe Syndication Community: How They Work & How They Multiply Your Online Presence =-.

  4. says

    Great Point Debbie. Everything today has an affiliation or affiliate opportunity associated with it. Getresponse, Aweber, traffic geyser, micro-niche finder, etc. If you are using these tools doesn’t make sense to recommend and teach others how to use them as well. It’s all nickles, dimes, quarters…The bottom line, teach teach teach…
    .-= Nick Logan´s last blog ..A Hidden Niche For Your Online Marketing Company =-.

  5. says

    Good post, Debbie!
    The opportunities are endless, you just have to be a selective sifter :)
    And take it one step at time.

    Francesco

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