Why Multiple Streams Of Income Is A Good Concept For Your BusinessMultiple streams of income is a theory that Robert Allen talked about in a book a few years ago. The Internet in fact makes this possible for ordinary people to do more easily than in the past. Here is why this is a good hypothesis if you are earning money online.
First of all putting all of your eggs in one basket is never a good hypothesis in nowadays' economy. You could be stand for a product or program that appears to be acutely stable.
However what would happen if the company that is sending you checks every month when out of business? For instance what if you were a ClickBank affiliate and ClickBank closed their doors tomorrow? This could be a misfortune to thousands of Internet marketers who rely on their products as their sole origin 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 theory for your business as it protects you from the unforeseen.
A wise Internet marketer once stated they would rather make $100 a month from 200 varying programs, then they would to make $20,000 a month from one. This could never been more true than it is nowadays in a faltering worldwide economy.
This article is not meant to be a doom and gloom article. In reality just the reverse 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 stand for varying products in varying niches. Or by enrolling varying programs in the same niche, but make money promoting products in getting checks from multiple companies.
This is not hard to do as you can set up websites and blogs very speedy nowadays. Driving traffic to them is not as hard as it once was either! Once you learn the skills creating multiple streams of income is acutely easy to do and is a clever thing furthermore.
Here's another instance of creating another stream of income. You can do a joint venture with other Internet marketers and blend your talents to make money. This is crafty as it allows you to do the things that you enjoy most and work with people who have talents varying than your own.
In summary you should now get the point about multiple streams of income being a good theory for your business.