Creating Multiple Streams of Income

A true entrepreneur will not put all his eggs in one basket. I understand it’s important to remain focused but sometimes one must be willing to think outside the box and get creative. Robert Allen was probably the first person to coin the term, “multiple streams of income” and it is in fact a brilliant strategy to get rich and stay rich. Robert is the Author of The One Minute Millionaire which by the way is a great book that I have read twice.

 Here are some ideas to kick around if your looking to add to your current income stream.

1. Google AdSense

Google’s AdSense program is probably one of the easiest ways for anyone, even a complete newbies, to start building a passive stream of income. AdSense is a pay-per-click advertising network that pays you every time a visitor to your website clicks on an advertisement. Apart from placing a simple piece of code on your website that AdSense provides, the only other “real” work you have to do is create relevant content and drive traffic to your site.

2. Create An Online Directory

Online directories make great bait for search engine spiders because of its ability to create lots of content very quickly.  An increasingly popular way of building a passive income with an online directory is by selling text links.

Selling text links is like selling advertising space except that instead of displaying banners, your directory displays links.

If you don’t want to create a directory but you already have a website, you might consider creating a category where you place links to other websites for a fee. The higher the page rank of your website, the higher the fee you can demand. So, if you have a popular website with a huge email list then I bet you probably have some business people subscribed to your list who would love to advertise on your website.

3. Get Paid To Review Products

Another increasingly popular way of creating a new revenue stream is to become a paid blogger. You simply start a blog and get paid to review products, review someone else’s blog, or review just about anything an advertiser would want reviewed. Services like ReviewMe.com and PayPerPost.com caters to both bloggers and advertisers who are interested in this business model. Over on payperpost.com advertisers pay bloggers to write sponsored posts on their own blogs.

4. Create A Membership Site

If you have information that you think people would be keen to pay for, consider starting a membership site. Impose a low monthly subscription fee and offer information that is exclusive to that community. If you think your information is worth a higher subscription fee, then raise the price. Prospects will pay if they know the information is made exclusively for them.

5. Selling Domain Names

Buying and selling domain names is a great way to build your income fast if you know what you’re doing. There are folks making a full-time income doing this, but there is a learning curve required to achieve optimum results. There is money to be made in selling domain names so learn the trade if you’re interested.

6. Affiliate Marketing

Probably, the most popular business model for earning an income online, affiliate marketing is a really simple way of creating a new stream of income online on a very low budget. Affiliate marketing is about selling someone else’s product or service for a commission, without having to deal with customer payments and product deliveries on your end. Amazon.com is a perfect example of how affiliate marketing works and is definitely a great business model to get into.

7. Teleseminars

If you already have a subscriber base, then consider selling them your expertise via a series of paid teleseminars. Offering paid teleseminars is a wonderful way of helping your customers and prospects learn more about your products or services. You can monetize your paid teleseminars even further by recording them and selling them in different audio formats, or even have them transcribed to be sold as eBooks.

8. Special Reports And eBooks

If you could record a teleseminar and sell it as an eBook, imagine what you could do with the rest of the intellectual property you own. People love consuming information, and packaging solutions to a problem in the form of special reports and eBooks is a revenue stream that can truly last you a lifetime. Once you create an info product then you will need to promote it. I personally created an info product ebook called The Nutritionist Online Business Guide. You can see the sales page here: The Nutritionist Online Business Guide. If I can create one so can you!

9. Direct Sales/Network Marketing

If you enjoy meeting people and enjoy working with people then being a part of  this type of industry might be just what you are looking for. You can join a company at a low start up price. This is so much cheaper than starting a brick and mortar business.  My husband and I joined a Network Marketing company a few years ago to add to our income. We joined the company called MonaVie. You can read more about the opportunity here: MonaVie Opportunity.   MonaVie has amazing health and wellness products. (And I am not just saying that because I am a distributor.) Click the link to see our MonaVie Products. Network marketing is a people business. You must enjoy meeting people and have the desire to want to help them succeed. The people you meet and the relationships that are created are priceless.

Creating multiple streams of income isn’t rocket science and is very achievable. All it takes is a little creative thinking and lots of determination to succeed.

To Your Success,

Kari St. Louis

P. S. Interested in trying some  MonaVie products? We love our preferred customers! Click here to become one