Which Coach or Entrepreneur does not wish for Multiple Income Streams?!
A question I am often asked is how to make it actually happen in practise.
In his book – Multiple Streams Of Internet Income – Robert G. Allen outlines 6 income streams to create online.
1. Your main product or service.
This is the best way to stand out from everybody else online and is your first goal: To use the internet to attract more clients.
2. Strategically choose TWO high quality affiliate programs that add value [to (1)]
This is an opportunity to partner or JV with another coach or online entrepreneur. You can save valuable product creation time by recommending a program you have taken, or know well, that ties in with your main offer (eg your primary service or product)
3. Paid advertisements on your website
Once you have sufficient traffic coming to your website (500+ unique “targeted” daily views), you can encourage appropriate other website owners to place banners or pid ads on your website or within your newsletter.
4. Reocurring Revenue
Overtime online, you inevitably employ useful “tools” within your business (Robert Allen calls these “picks and shovels”). If you are confident in a particular “tool”, you can earn a reocurring commission by recommending it. The best example of this is your website hosting company. Many hosting companies have affiliate programs where you can earn a monthly residual income from your referrals. These can add up.
5. Selling related digital products that come with resale or private label rights
Alternatively, you can easily create your own unqiue offerings by “repackaging” them within the terms & conditions given – and/or by adding some of your past articles, interviews or blog posts.
6. Your own affiliate program
This returns us to multiple income stream number (1). There are many ingenious ways to grow your online business virally nowadays. The end result is that your own affiliate army can vastly increase your visibility (& credibility) online, because you now have all these endorsements for your product / service!
Take Action:
- How many income streams do you currently have in place?
- Which additional one could you add?
- Which would be the quickest or easiest to implement?
Noel Lyons
Tel: 44-7972236404
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- 7 Ways to Transition into Passive Income Are you ready to stop running around around after clients?...
{ 2 comments… read them below or add one }
finding the income streams is actually the easiest part. Getting the potential customers on your website and building a trust relationship, that is so damn hard and is where most of the people fail at.
.-= raphael´s last blog ..Secrets Of Tonality To Improve Your Hypnosis Skills =-.
That’s where you must know your customers. Many are talking at them (interrupting) which is why they are not being heard (good marketing invites conversation). You must first be able to get their attention, then arouse interest, leading to desire to want to know more. How? Well when you are able to better qualify who you are, what you do, with who and how you are different, only then will you attract more of the right type of people to your website. Many miss these important steps and go for the direct sale! It’s all about creating systems and then improving them over time.