Multiple Income Streams

Today I want to talk why we need Multiple Income Streams coming into our businesses. If you look at any type of business either online or offline then 99.9% will have multiple income streams or some kind of multiple income built into it.

Now for that 00.1% that only has one product (product means service as well) they have a very special niche and for me, although they can charge top price etc, their business is not built on a solid platform, all you need is something to happen to that niche and the business is gone.

So what are Multiple Income Streams ?

Let us look at a few niches to find out -

GiftShop – This is the main niche, Now you can have loads of income streams coming into your giftshop. 1) You have the main Holidays – Easter, Christmas, Other Faiths Holidays where gifts and cards are given, now these are broken down into adult, children, old and young male and female.

Next you have things like Mother’s day, fathers day etc, etc,

Now each of those main niche’s have many different income streams – cards, gifts, paper, flowers, so if suddenly everyone stopped giving flowers on mother’s day the shop would still carry on because they had cards and other gifts, and hey after mother’s day there are hundred’s more days where flowers are given.

Another example of Multiple Income Streams.

This idea is more for the Information provider.

You start off with a blog post like this – this then moves into a report- now you sell them an ebook- which leads into a hardcopy of the book – which leads into a CD – which leads into DVD – which leads into teleseminar – which leads into seminar – which leads into private  coaching – which leads us back into an eBook part two and we then move through the system again.
And once you have done this one niche let us say Tattoo designs for girls between 18 -25, you move onto girls 26 – 3o , then men, then sufer girls etc etc, .

The above is just one small example of Multiple Income Streams with one idea.

Another point you can have your own products, Clickbank Products, affiliate Products, Joint Ventures all giving you different income streams in case one dries up on you.

Hope this helps you, any questions on Multiple Income Streams please leave a comment and I will help you all I can.

Andrew Milburn and My Auction Empires