February 28, 2024

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Multiple Streams of Income Or Multiple Streams of Debt?

Many entrepreneurs are brought into the home based business industry believing that building multiple streams of income is as easy as building a single stream. In online marketing this is technically true, but the online entrepreneur must first understand how to develop ONE stream of income before focusing on building any other. The riddle is knowing HOW to make money online, once this happens building multiple streams is easy.

The unfortunate outcome for many online entrepreneurs is the accumulation of multiple streams of debt. What this means is in an attempt of building income, the entrepreneur has taken a full plate of income producing opportunities, only to find they are paying out money to multiple sources instead of collecting income from these sources. Much of this has to do with poor selection of income producing opportunities.

Experienced online entrepreneurs will build multiple streams of income by utilizing business building tools that also become additional income streams. The secret of making money from multiple sources is to monetize what you cannot be without. This includes traffic generation tools, email marketing campaigns, even the auto responder experienced entrepreneurs choose to use is likely an alternative income stream that grows passively in the background while they build their primary business. The experienced online entrepreneur promotes a SINGLE opportunity or system, and within that system they refer their customers to the tools they use to build their business. This is the secret of multiple streams of income.

Newbie marketers on the other hand buy into a number of “opportunities” with no thought out plan and with the hope of growing each business individually. What this does is spread the online marketer thin and they end up producing zero profits because none of their income generating opportunities are getting enough promotion, advertising, or attention. In order to consistently generate profits and begin building the elusive ‘Multiple Streams of Income’ the newbie marketer must first master their online advertising and marketing tools.

In the end one of two things usually happen with the newbie online entrepreneur. In the first case scenario they lose money, quit, and swear off internet marketing as a viable means of producing a real income. The second case scenario does not happen as often and is much more rare. In this scenario the newbie marketer learns from their online marketing mistakes, and cracks the code of earning from multiple income streams. If this happens the ‘newbie’ online marketer enjoys a long career of internet marketing success.