Wednesday, July 16, 2008

Multiple Streams of Income

"Don't put all your eggs in one basket"

For as many years as I've been doing network marketing, the quote above has been used by people as justification for joining and promoting more than one mlm program at a time. I know this may be point of contention with some, but for as I've been following the debate the consensus among those who are actually "successful" in network marking is that trying to build more than one mlm downline at a time is counter productive.

I think there's a Better Way to develop Multiple Streams of Income



multiple streams

Obviously, as a proud network marketer I wholeheartedly believe that finding a High Quality Network Marketing program to promote and build, can and should be a solid foundation for anybody who's interested in Earning Extra Income to supplement and enhance their lifestyle.

Without making any explicit income claims, I can tell you that my own experience indicates to me that there's no other way that ONE relationship I formed 6 years ago could have resulted in literally 10s of Thousands of dollars in my bank account ... even as I traveled all over the world with the military, and was unable to devote nearly as much time and effort than I would have liked to the endeavor.

Bottom line, Network Marketing works



Ok, so if network marketing is such a great way to earn extra income, why not just build up a portfolio of several different types of network marketing companies?

One simple answer ...

TIME MANAGEMENT

Despite what you may have heard, network marketing is NOT passive income. It's all about team building. And I can tell you (again from experience) that building even one successful team is hard enough. I can't imagine trying to juggle 2-3 network marketing groups at once. For most people, it just doesn't work.

Ok, so how do we build multiple streams of income, while complimenting our network marketing business?

Learning SEO and Internet Marketing skills is the key.



Learning to blog ... and more importantly, learning how to attract traffic to your blog, is an invaluable skill that will definitely come in very handy when it comes to increasing the size of your network marketing checks.

In addition, you can use these skills to directly earn additional income from your blog(s), through affiliate programs, and/or adsense.

One of the programs I've recently had the most success with is Build a Niche Store. It runs off the eBay affiliate program. I'll make some more in-depth posts about this in the future, but the gist of it is, you find a good keyword focused domain name, install your BANS store, customize and text to the theme, then go get links to drive traffic to the sites. You can see a couple of store examples (in various stages of being "finished") over on my sidebar under Great Deals.

Network marketing is still my main source of extra income, but for a couple of months in a row now Build a Niche Store has added another couple hundred bucks to my bank account ... something I would never complain about.

So what are some of the best non-network marketing methods that you've found to bring in additional income?

I look forward to your thoughts.

Todd

1 comment:

  1. Finally, to find someone else who believes multiple streams of income (ie... multiple internet programs) to be a total diversion of attention.

    I've been there, done that, and of course, failed to focus on anything I was doing.

    I appreciate your blog post and hope that others will stumble upon it just as I did.
    ~Kudos
    ~Jennifer

    ReplyDelete