How do you create multiple streams of income?
Creating multiple streams of income means you have different ways of generating income that are not dependent on each other.
For example, you can provide a service, sell a product, host paid think tanks, create an inner circle, provide training, and more. There are many things you can do that will help provide stability to your income so you don’t have all your eggs in one basket.
blog
You can make money from blogging by getting your name out there, becoming popular in your niche, and increasing traffic to your blog. You can earn money from ads, sponsored posts, affiliate products, and more.
Junk mail
Collect information from the target audience (from a form on your blog) and then you can market affiliate products, information products, training programs and more.
marketing information
Do you know things that have worked for you in any area of life within a particular niche? If so, you can create and sell information products, like books and videos, that teach your audience something valuable.
affiliate marketing
This type of marketing works both ways. If you have information products or other types of products that you sell on your own, you can create a program that allows other people to promote the product and earn a small commission. Conversely, you can do the same by selling products for a commission on your website, blog, and email marketing.
training programs
While information products are sometimes types of training products, you can go much deeper into training. You can create an eCourse drip for email or by using some kind of learning management system on your website.
Continuity Programs
One of the best ways to earn money is to create a monthly recurring program that never ends. They pay by subscription. There are many types of examples of this, such as a paid inner circle or a private group.
Training Programs
If you’re successful running a particular type of business, you can start advising people on how to do what you’ve done. This can be a lucrative additional stream of income.
online communities
A popular stream of income is online communities such as think tanks, inner circles, and private groups that you can only join if you pay and are part of the right audience. Space is usually limited.
These are just a few of the ways you can create multiple streams of income online. There are also ways to do it offline, such as savings, investments, rental income, and more.