Imagine waking up, checking your email inbox and seeing that you actually made money while you slept.
Now imagine you made more during the time you were in dreamland than many people make in a week or a month.
Is this possible? Absolutely.
It’s being done all the time by men and women around the globe.
There are dozens of ways to do this. Two of my favorites are selling my own information products and selling as an affiliate marketer by recommending products and services I know my clients and customers will benefit from.
These are just a couple of the many ways to generate multiple steams of income.
Life Upside Down
I’ve made money online for nearly 20 years. It’s an incredible way to make a living. I realized how truly powerful this is during the time I was my mother’s care taker. Not only was I able to be fully present for my mother during this most difficult time, I was able to literally make money by her hospital bedside.
Generating revenue online gave me a freedom I am forever grateful for.
What is Multiple Streams of Income?
Multiple streams of revenue is exactly what it sounds like; money that comes from various sources. One way to create multiple streams of mailbox money is with information products; yours and those you sell for others.
The more information you have to offer that your market has an interest in the more revenue you can generate.
Additionally, you can generate multiple streams of revenue with services. Whether it be a one time VIP Day, a short-term coaching package or full service, done-for-you programs, these are yet more ways to increase your streams of revenues.
Affiliate Revenue is as Sweet As it Gets
No products of your own? No problem. If you have no products of your own you can start by becoming an affiliate seller. I have colleagues who make all their income offering affiliate products and services to their market. This is a viable way to make a great living, when you know what your doing.
Make sure whomever you sell for, and whatever you make available, you are selling an outstanding product or service you are proud to make available to your market. Never, ever, ever sell anything you can’t put your personal stamp of approval on.
A common way many of us become affiliates is by using a product or service, liking it, and then recommending it to our market. For example, one person I stand behind her products 100% is Nicole Dean. She is the founder of Coach Glue. The products her company makes available are beyond compare and priced in a way that virtually anyone can afford them.
One example is the Blog Content Planner.
Avoid This At All Costs
Don’t sell simply to make money. Making money simply for the sake of making money is very short sighted.
Start from the point of, “What would create the greatest value and truly serve my market?” When you think in terms of being of service, the money will follow for a long time to come.
You may have to test a few products to identify your markets’ sweet spot both with the type of information you are introducing and the price point.
Some online entrepreneurs are very successful by selling other experts’ products. Others prefer to create their own. Still others like a combination of the two.
I lean towards the latter.
If you’re planning on developing your own products now is the perfect time to begin. However, you will be well served to plan out what you introduce.
Steps to Success
Follow these simple steps to move you in the right direction.
- Identify what your potential customers are interested in. A survey can help considerably in this area.
- Determine what knowledge you have that people would be willing to pay for.
- Decide the format for the information product; video, audio, MP3.
- Determine method of delivery; ClickBank, autoresponder, other.
- Determine method of payment; PayPal, credit card.
- Develop the product.
- Develop a landing page. If you’re not qualified you can find plenty of eager designers on www.elance.com or get a free or low cost template program.
Does it Take Work?
The short answer is YES! it takes work. Putting systems in place to generate multiple streams of revenue isn’t something to be taken lightly. You need to know what your promoting that will generate the revenues AND you need to know that if you promote garbage products and services simply to make money is NOT the way to go. You will be setting your community up and you’ll be setting yourself up for a lot of unhappy people.
Start immediately to make it policy that you only recommend products and services you can put your personal stamp of approval on.
I can assure you that when you have several things to offer your market, both yours and those of other experts, you’ll get very used to watching your “mailbox money” arrive on a daily basis.
So much in fact, you will know what it means to have a lifestyle business.
Ready to get your share of multiple streams of income? Join me for 10 Ways to Make Money Online. This is a FREE training on how you can begin immediately to generate revenues.
Everyone who registers for the webinar receives my free report – Make Your First $100 Online.
Click here to register.
Be sure to join in on the Power Up for Profits Facebook Group.