Building,Multiple,Streams,Onli DIY Building Multiple Streams of Online Income
When starting a new work at home business it is very easy to become consumed by it. We spend so much time trying to get the business up and running that we may end up becoming burned out and lose our motivation. There is so much to learn and Normal 0 false false false MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:"Table Normal";mso-tstyle-rowband-size:0;mso-tstyle-colband-size:0;mso-style-noshow:yes;mso-style-parent:"";mso-padding-alt:0in
Building multiple streams of online income is one of the mostconfusing issues for new internet entrepreneurs. I believe the reasonfor this is that most are transitioning from a traditional modernwork background that involves one, or at most, two, primary sourcesof income--in other words, a job! In this model, the "job"provides 100% of the income. This keeps things simple--that is, untilit's gone! Then life gets pretty complicated until another "job"is found.To become a successful online entrepreneur, this model of thinkinghas to take a radical change. Instead of looking for a single pot ofgold, you have to start picking up little gold nuggets along thepath. Although it's possible, most successful online business modelsare not built around a single revenue source; rather, many small(sometimes really small!) streams of income pool together to form asignificant resource.Building multiple streams of online income can be done at a macroand a micro level. The macro level involves having several totallydifferent internet businesses. For example, you may own a couple ofdifferent niche websites, or you may have your own website plus youearn money online from paid surveys or other work opportunities. Themacro level of internet business diversity is similar to havingdifferent "jobs" in the traditional work world.Online income is more complicated than that, though! Eachmacro-level income source can also have many micro-level sources. Anexample would be a single website that makes money through multiplesources, such as affiliate sales, ad placement revenues, proprietarygoods sales and membership fees.Each of these sources, correspondingly, has its own micro-levelincome streams! For example, each merchant for affiliate salesconstitutes a stream, and even each product from a merchant can beconsidered a stream. Similarly, each ad source, along with each ad isan income stream. Each page of a content-rich website also producesits own micro-stream of income.To have a successful internet business, you must continue buildingmultiple streams of online income and monitoring them to see whichare producing and which are not. Then, just as in any business, youhave to adjust your strategy accordingly. Non-profitable ads could betaking up valuable space on your website that could be replaced withmoney-producers, but you would never know this unless youconsistently check your earnings at a micro level.Building multiple streams of online income and managing themefficiently is the key to profitability for most new internetbusinesses. It is also one of the most difficult if you're used tohaving a single lump-sum payment every month from one employer! To besuccessful online, you must change your mindset!Instead of being the pig who's confined to a small area and whosebig bucket of feed is brought to it once a day through no effort ofits own, you must become the songbird who spends the entire daylooking for tiny seeds and insects to sustain it. I don't think I'veever seen a malnourished songbird, but--you know what happens to thepig! Article Tags: Building Multiple Streams, Building Multiple, Multiple Streams, Online Income, Successful Online
Building,Multiple,Streams,Onli