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Hi Friends,
If your new to marketing online this is well worth a look!
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The Importance of Multiple Streams of Income
Any prosperous person out there; be that Richard Branson or Bill
Gates, knows the importance of having multiple streams of income
(MSI’s). If you possess MSI’s then you are already, or, are on
your way to being a wealthy individual.
However, it is not just a case of having one or two streams, but
several; if one slows down or dries up altogether then others
can carry on regardless, enriching your life continually.
Incidentally, it doesn’t have to mean you need to possess the
desire to be incredibly wealthy like the gentlemen I mentioned
above. It could just simply be the case that you want to gain
control of your finances, e.g. pay your debts off or just not
have to worry so much about paying for life’s basics. The
importance of having MSI’s is still just as essential in the
latter case.
The question then you must pose yourself today if you want to
become wealthy or have control is: do I possess multiple streams
of income?
The Importance of Residual Income
The term residual income (RI) pops up a lot in literature and on
the internet, all it actually means though is recurring income.
Its income that continues to flow whether you’re there or not,
e.g. the interest paid on your savings account at the bank or
dividends paid on shares you own.
The importance of RI is that for each of the MSI’s above, each
stream should be functioning on a residual basis. These streams
require all the time and effort at the outset i.e. from the
idea, to the planning, to the implementation, to the checking
and refining then they are finalized and left on ‘autopilot’.
You then need to do very little to them after this point, they
work for you instead. You can then begin your next residual
income stream and so on and so forth.
This leads to the final questions. Do I have MSI’s? If so, are
they on a residual basis?
Where Does Affiliate Marketing Fit In?
Affiliate Marketing fits in perfectly, you don’t even have to
set up a residual stream that generates a lot of profit and I’ll
tell you why.
Think about it, set up 100 income streams of $1000 per year
profit each and you would be making $100,000 a year. Now, think
about that more closely…
For an income stream to generate $1000 per year you need to be
profiting $83.33 per month how possible is that? Very. Just
with Google Adsense revenue from a reasonably visited website
would generate that $1000 a year stream and likely a lot more.
Affiliate Marketing allows you to set up these multiple streams
of income without actually owning the products or services!
Couldn’t be better!
You’ve got your whole life to set up these streams too I’m not
talking about overnight success here. If you think this comes
overnight you’d better go up the corridor to that ‘Let’s All
Live in the Clouds’ seminar.
So, returning to my $1000 a year point, if you could set up a
stream generating $1000 per year, could you make it turn into
$2000 a year or $166.66 a month? Of course you could, now you
only need fifty $2000 a year streams to hit your $100,000 a year
target.
Now, upscale each one and it doesn’t take a genius to see that
not only is $100,000 a year an achievable target - it may also
be an easy target. $200,000 a year doesn’t look far off either
does it? How about $500,000?
I’ll leave that for you to ponder over.
-----by Anthony Docherty
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Dont forget to check out other great info on business and marketing online.
http://community.adlandpro.com/forums/14857/ShowForum.aspx
Thanks for your visit
Leanne Busby
http://www.aussie-money-tree.biz
http://www.aussie-money-tree.info
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