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Building Multiple Streams of Income

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Building Multiple Streams of Income


If you want to make more money online, there are a few ways that you can make this happen. While the specific details will vary according to what kind of online business you are in at the moment, there is some good advice that you can use no matter what you are doing at the moment and what you would like to do in the future.

One of the important things is to: Work on building multiple streams of income, but do it well

We all hear that earning money online successfully involves having multiple streams of income. This is a common topic that comes back in nearly every “Make Money Online” ebook being sold. And this is not just another marketing gimmick to get authors to sell more products. The reason why so many give this advice is because it works, period.

This is even true in the “offline” world. If you ask a person who is very successful financially and has a net worth of several million about how they make their money, they will probably tell you that they run several businesses at the same time. They may own a restaurant franchise, an apartment building, a car wash, a gas station, etc. All of these businesses bring them money.

This gives them the opportunity to not only make more money, but to ensure that they would keep making money should conditions change and one of their businesses wouldn’t be as profitable anymore.

The same is true online. It is better to have 4 websites in different niches making $25 a day than just one website making $100 a day. However, some people don’t approach this concept the right way. They see “multiple streams of income” and believe that it means “do everything at once”. Obviously, this is not a winning strategy, because it would probably degenerate into “do everything at once but do nothing well enough”.

A better strategy for success would be building each site or business one at a time. Focus your efforts on only one or two things at the same time, maximum. Then, when this business starts rolling well and brings you revenue like you want it, you can then start thinking about whether you’re ready to build something else that would work too.

After some time, you would be able to get multiple streams of income coming in from different websites, businesses, products, etc. that you own. This is one of the principal elements of successful online money making.

There are other tips that you can apply in the online business world that will help you earn the revenue that you’ve always wanted from your activities. Tomorrow we will consider some other pieces of advice that you can use to do just that.

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Why Multiple Streams Of Income Are Important In The Online World

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Why Multiple Streams Of Income Are Important In The Online World


If you’ve been reading certain guides on online business, you may have been told that in order to succeed you need to have “multiple streams of income”. Now what does this mean? And most importantly, is it actually true or is it simply a gimmick that is used by product creators to try and have you buy their guides?

Simply put, having multiple streams of income means that you are making money online through various different sources. It’s actually as simple as that. And it is also a concept that can be applied to any online money making activity, whether you are running affiliate offers, selling your own products, providing services or publishing pay per click advertisements on your site.

Now is it something that is really necessary to have? If you are running a business that is bringing you a full time income, then the answer is yes. Now why is that? So that your business can keep operating even if one of your income sources declines or dries up completely. Sure, you may think that it won’t happen to you, but if you’ve read any internet marketing forum, you will find plenty of stories about it happening to other marketers.

There are certain products or offers which are only popular during a certain time and then their popularity decreases. Think of the Acai Berry CPA offers that were all the rage about a year ago. Sure, a lot of marketers made money from them. Some made very serious amounts of cash. But a few months after it peaked, the offer started going down due to the fact that the product received some negative press due to questionable claims made by manufacturers, plus many people complaining that they were having a hard time canceling their subscription to this rebill offer.

There has also been cases where some smaller CPA or affiliate networks were having trouble paying those who run their offers. Some people were getting paid late, others ended up not getting their money at all in some cases. Obviously, if you only work with one network and they have trouble paying their affiliates, this will spell trouble for your business as well.

Organizing multiple streams of income is not difficult at all. Say if you are a CPA marketer, you simply have to work with a few different networks and run some different campaigns on each. You don’t even have to do it all at once if it would be too hard for you to manage. For example, you could run offers from network A for the first half of the month and network B for the other half.

If you are a freelancer such as a content writer or web designer, advertise your services on a few different sites and not only one. Also, work with a few different clients if possible. That way, if one of your regular clients who you’ve worked for during many months suddenly doesn’t need any work done during this month, you won’t be left scrambling to find other ones.

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Choosing A Web Hosting Provider – Part 1

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Choosing A Web Hosting Provider – Part 1


If you are going to do business online, chances are you will need to put together a website. Whether you will only have one main website for your business or will need several different sites in order to promote products, you will obviously need a place to host your site. Here are certain things to look for when selecting a web host:

Bandwidth and storage

Today, many web hosting providers offer unlimited or very high storage limits. If your site is just a few pictures and some text pages, this won’t be much of a concern for you. But if you plan on running several sites, or include content that takes up a lot of space like videos or interactive games, it is something to look at. Bandwidth is the amount of data that can be transferred to and from your site every month. It won’t be much of a concern if you are just getting a few hundred hits a day or less and your site is relatively small in size. But if you host multimedia content such as streaming videos, or your site gets immensely popular all of a sudden, you may get close to your bandwidth limit. Note that if your bandwidth usage goes through the roof, even a host with supposedly “unlimited” bandwidth can kick you out.

Reliability

Everyone wants their site to be available at all times. After all, every minute that your site is down could mean lost money for you. While every host will advertise something like 99.9% reliability, it can be quite difficult to determine whether this is actually real or if it’s just an advertising gimmick. The best way to find out is to read some reviews online from some other webmasters to see what they think about a particular web host.

Price

Of course, this is a main point in making a decision about signing up for any service, including a web host. With decreasing costs and competition in the industry, the cost of web hosting has gone down in recent times. Do take note that certain web hosts require that you prepay for a certain amount of time. Some of them also give monthly rates, but they could work out to be more expensive than if you had taken a plan and paid in advance for a year or more. But you also need to consider as to whether you still plan on having that site up during all that time. Note that even if you decide to build a new site and get rid of your old one, you could still keep your hosting account. You would just need to get a new domain name and set it to point to your hosting account. But note that price should not be your main concern. Even if a host gives the best rates but their server goes down for hours each day, it will not be much of a benefit for you to use them.

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