Multiple Streams of Income and Money-Making Options

 'Multiple streams of income' is often trumpeted about as one
of the biggest advantages of doing business online. There's
no doubt about it; even a bunch of 'little' cheques can add
up to a solid income every month.

The problem occurs when people try to build multiple streams
of income all at once. It takes time and hard work to build
*anything*, and that includes an online business. Here are
a few common ways to make money online ... choose a path and
put forth your best effort.

= Promote affiliate programs. Many people build
websites centered on selling a core group of affiliate
products or services, where they earn a commission for
every sale made. All the billing, inventory, shipping,
and customer service is handled by the affiliate company.
An excellent directory of affiliate programs can be found
at http://www.associate-it.com/ .

= Purchase resell rights. Instead of working on
commission, buy the resale rights to a product (or
group of products), resell it to your own customers
and keep 100% of the profits. This way you avoid the
costs and hassles of developing your own product ...
however, you're typically responsible for handling
all the marketing, delivery, customer service, and
everything else that comes with taking orders. One
place to find resellable products is
http://buildyourhomebiz.com/resell.html .

= Offer a service. Services are highly customizable, and
as such, you can charge on the high-end of the price
range depending on the level of personalization you
offer. The downside is that service businesses are
limited by the amount of time you have. Freelancing
is just one way to get started in the service business;
it gives you the opportunity to build both your
reputation and a customer base. A good freelance site
can be found at http://homebasedwork.com/freelance.html .

= Create your own product. You control the quality of the
product, and it's your 'baby' -- you can enthusiastically
and sincerely market it with first-hand knowledge.
Electronic products, such as eBooks or software, are
extremely popular because they're cheap to both produce
and deliver. A good guide to creating an information
product is 'Make Your Knowledge Sell',
http://buildyourhomebiz.com/myks.html .

= Join a business opportunity. Please remember that no
single opportunity will be 'right' for everyone. Find
one where the *average* representative earns a reasonable
income. Look for a company that can offer you support
and/or tools to help you succeed.

Opportunity is everywhere! Take your time to select the
right path for *you* ... each of us has different needs,
interests, skills, and talents. Once you've chosen an
option, give it your best shot -- until either you start
to see results, or you've proven that it won't work for
you. A good place for beginners to 'get their bearings'
is the US Small Business Administration website at
http://www.sba.gov/starting/ .

It's important to make an honest effort at whatever you
choose. It's all too easy to jump from one money-making
fad to another without truly giving ourselves a real
chance to make things work.

Why run yourself ragged with 10 money-losing businesses?
Concentrate on building one profitable venture first ...
then gradually build up to the famed 'multiple streams of
income.

About the Author

Angela Wu is the editor of Online Business Basics, an
exclusive newsletter for eBusiness beginners. Every issue is packed with helpful
tips and useful tools, specially selected to fit a
beginner's shoestring budget. Visit her online today at
http://onlinebusinessbasics.com/article.html

 Angela Wu

More Articles 

Drop-Shipping – A Great Way Of Making Money Online - Nowshade Kabir
Using the Internet to sell products and services to ever increasing number of net users is a good way to start your own business. If you are not taking advantage of this great opportunity you are just missing the boat! Consider this: e-commerce,...

Auto Loans: Don’t Dig a Money Pit in Your Garage - Joel Walsh
Carloans are certainly less costly than home mortgages, student loans, or other kinds of loans. So why do so many people end up defaulting and losing their cars? Find out these hidden dangers: Biggest Hidden Car Loan Danger: The Inherent...

The Mathematecal Formula For Making Money: How To Apply Its Leverage To Increase Yor Profits Exponentially. - Angelo Ioanides
No matter what markets you serve; what products you sell; or what marketing tools you use, in business there's one truth you cannot escape. Embrace this truth and profits will flood your business. Disregard this truth and financial-cancer will eat...

Is It Still Possible To Make Money On The Internet? - Larry Lim
Many people are saying that the internet is dead. So is there still money to be made on the Internet? The answer is a definite YES. Research shows, time and again, that consumers want to spend more online, and that the internet is fast...

Show me the Money!! - Skip Shuda
Show me the money!!! Are you ready to raise money for your startup? Leslie Mitts, Managing Practice Leader at the Wharton SBDC and Lead  Advisor for the Wharton Venture Initiation Program, tells us that most ...

"Making Money Out Of Nothing At All" - Ewen Chia
"Make $10,000 In One Day, No Way!" Are you spammed by such claims daily? You know that's ridiculous, but then you know that there IS money to be made online. If you're serious about making money from the internet, serious about setting up a...

Finance Your Small Business: So Much Money – So Little Time - MaryAnn Shank
$47.4 million venture capital funded projects today. $86.4 million yesterday. $51.4 million the day before. These amounts are not made up. They are actual numbers from actual reported venture capital funding. I get these notices emailed to me day...

How to Make Money From Your Book And Get Massive Profit Before You Finish Writing It - Eo Lim
You can generate instant income from your book instead of waiting till you complete it. There is a way to do it. However, this method may not suitable for all. One way to get into profit immediately is by strategy of On People's Money. ...

Paid To Read/ Paid to Click Programs: Can You Really Make Money From It?? - Jon Dell
Paid to read and paid to click programs, otherwise known as PTR/PTC are legitimate online scheme that are now proliferating on cyberspace. This method is employed by many internet companies in their advertising campaigns. These companies pay...

Making Money With Information Products - Rob Rawson
Profit Puppy Ecourse No.8 Making money with information products -Guys, this is one of the most powerful business strategies on the internet!- So have you ever thought about becoming an infopreneur? Info marketing is a multi-million...

No Money Down Loans - Ethan Hunter
You want to buy a home but you do not have money for a down payment or for closing costs? Well, just forget it. At least that is what you have probably been told by people who think they know what they are talking about, but simply do not. ...

Make Money Blogging Using These Nine Powerful Strategies - Brandon Hong
I'm sure there are more creative ways to make money blogging, the ideas below are meant as a resource pool for you to draw from, and a launchpad to kickstart the thinking process of making money from blogging.... The question "How to make money...