Tag Archive - Multiple Streams Of Income

Wanting Multiple Streams Of Income? Now It’s Easier Than Ever…

April 15, 2012 in Business Opportunities with Comments Off

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There are a variety of things that can boost people’s financial income in these times of economic uncertainty, if they know where to look and what to do!  One of the most exciting and effective of these ideas is to create multiple streams of income now, and enjoy the additional income for years to come!

The opportunities for this kind of business endeavor are many, but it takes a unique mindset and willingness to create something special to make it a reality.  Do you have what it takes?

The Internet Makes Income Streams Function Faster And Easier

Selecting a home business that consists of several income sources is a smart decision, as long as they do not eat up all of your time during the week!  For example, choosing multiple newspaper delivery routes might bring some extra money in, but each of them would take a significant investment of time (and lack of sleep) to complete.

Fortunately, it is not necessary to take on these kinds of part time jobs with the use of the best internet technologies.  With an insightful look at what is available through a number of web-based businesses, a sharp person can create a home office business that does, indeed, create a profitable enterprise.

Yes, Some Of The Income Streams May Be Smaller… So WHAT?!?!

The beauty of multiple income streams is not that any one stream can necessarily be expected to make tons of money, but rather that the individual sources each do not require a ton of hands-on management and can offer a steady income over time.

With this in mind, an entrepreneur can create a significant amount of money with several reliable streams of income, each of which does not require significant investments of time or energy.  Now THAT is leveraging time and technology to make money!

Choose The Sources Well For Maximum Effect

Again, the most important way to ascertain the success of this kind of business effort is to focus on the income streams and make the right decisions about where to spend time and effort.  In most cases, there will be an initial investment to get things rolling, which only makes sense.

However, the goal in this case is to make sure that the development of the income stream can become relatively “hands-off” within a reasonable period of time and with only periodic updates available.

Cynthia ~Social Cowgirl
www.SocialCowgirl.com

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Blending Multiple Streams of Income and Network Marketing

March 3, 2012 in Uncategorized with Comments Off

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Multiple Streams of Income is the result of a lifetime of research and experience in teaching thousands of people how to achieve financial freedom. Multiple streams of income is an excellent concept but one should never be obsessed with it. Multiple Streams of Income is different from the many online opportunity because it doesn’t suggest things that you can’t possibly learn and do. Multiple Streams Of Income is the easiest way to create your own online wealth. However, it is best not only for those who doesn’t make a penny online but for those who are already successful but wishing to extend or expand their online empire. In all actuality, the idea of Multiple Streams of Income is not a new concept.

Stream

Having multiple streams of income will most likely mean that you are offering more to your customers. Find NEW quality income streams every month to increase your home business “take home pay” -”He can who thinks he can, and he can’t who think she can’t. Yes, you can work from home and develop multiple income streams doing what you absolutely love. Those in offline business refer to Multiple Streams of Income as DIVERSIFICATION.

Cynthia ~Social Cowgirl
www.SocialCowgirl.com

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Earn on Multiple Streams of Income While Building your Network Marketing or MLM Business

June 23, 2011 in Uncategorized with Comments Off

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MSI – ‘Multiple Streams of Income’Robert Allen even wrote an entire book dedicated to this subject and the importance it should have in our lives.

We’ve also heard the term ‘Don’t put all your eggs in one basket’ OR ‘Diversify or die’.

Essentially, it is to have many different sources of income coming to us in various forms for various things, and for the most part: the majority of these sources on a passive basis.

The real question I am addressing here today is this:

Why do most network marketers build their businesses WITHOUT adhearing to this philosophy?

I know that if you work very hard and build your network marketing business to a significant level; you can make a great deal of money from just that one source.

However, most people think that their primary mlm company will always be around and don’t really consider what other situations could play out that could drastically alter their entire networking career.

As a consultant, I’ve seen and heard it all too often:

A supposedly great company goes bankrupt, gets raided by the FDA, gets shuts down by the government, changes their comp plan, makes a goofy business decision, sells the company, changes volume requirements, switches to an affiliate structure, decides to market products at retail chains, gives control of the company to stock holders, the owner decides he doesn’t like this industry anymore, etc.

Just like they say to not have all your retirement income held up in only the stock market, but to diversify and find several investment vehicles because what if the market crashes right when you are ready to retire!

What if your network marketing company is the next ‘Enron of MLM’?

No way, you say ‘not my company – they are the best and will be around forever’!

If you are not the actual owner of the company, you can never know anything for sure.

I’m not trying to be a Chicken Little here; rather I am trying to impress upon the fact that it may not be a wise business or financial decision to solely rely on your primary network marketing business to take you all the way and think that it will always be around.

 

Cynthia ~Social Cowgirl
www.SocialCowgirl.com

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Multiple Streams of Income: Earned Income – Can It Make You Wealthy?

June 12, 2011 in Uncategorized with Comments Off

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Sources of income can be categorised into 3 broad types: active (earned) income, passive income, and portfolio income. Any money you ever make (other than maybe winning the lottery or receiving an inheritance) will fall into one of these income categories. In order to understand how to become rich and create wealth, it’s vital to understand the interplay between these 3 sources of income.What is Earned Income?

Earned income (sometimes called active income) is linear income you earn through working. Essentially you trade your time and skills for money and there is usually a direct correlation between the amount of time and the money earned.

So, earned income is usually limited by the time and skills you personally have. Therefore, trying to earn your way to wealth is an arduous, inefficient way of generating wealth. You can only work so many hours and add so much value by yourself so that your earnings will ultimately be capped at a certain level. When it comes to earned income, you’re the golden goose and if you were to rely exclusively on yourself to generate wealth the golden goose will eventually cease to produce income as a result of overwork or perhaps even ill-health. It’s important also to remember that as you age, your physical or mental capacity will reduce and so you will sooner or later have to start supplanting earned income with passive and portfolio income.

Time and Tax – 2 Limiting Factors in Wealth Creation

There are 2 main shortcomings of earned income:

Time – or more specifically said ‘Your Time’. Earned income requires you to trade your time for money. Time is a limiting factor i.e. the amount of time you are willing or able to invest. As soon as you stop working, you stop making money. No matter what, there are only 24 hrs in the day and you can only reasonably expect to work 8 of those on average over the long term. Tax – earned income is the most heavily taxed form of income plus the more you earn the more tax you pay. Personal tax rates in the US range from 10% to 35%. However, earned income is also subject to other taxes as well, such as social security (12.4% (half paid by employer) and Medicare taxes (1.45%). Therefore, if you are a relatively high earner your earned income could be taxed at true rate of almost 50%! Ouch…that hurts!

One huge benefit of earned income over the other income types is that you generally don’t need any startup capital in order to start making earned income. Hence, most people rely on earned income from the start of their working life.

Can You Become Wealthy from Earned Income?

Most people work for earned income …most people aren’t wealthy. Regardless of your definition of wealth you will never be truly wealthy if you are relying exclusively on monthly earned income. You can end up in an endless cycle of earning income and paying bills. That said, used correctly, earned income can be a good way to start your investing and wealth creation endeavours, so long as you save minimum of 10% of your income with a view to accumulating a lump sum of cash. This lump sum of (i.e. capital) can then be used to generate the other two types of income. In addition to saving a percentage of your earned income you could also look to reduce your debts by allocating part of your earned income to accelerating the reduction of personal debt which is eroding you wealth.

Building wealth and achieving success shouldn’t be about extracting every last ounce of your own energy and resources to get there, for that carries a huge personal cost and can sometimes prevent you from sustaining this success. If you’re serious about wealth creation and learning how to become rich than you will have to make the leap from relying on earned income and start generating passive and portfolio income as soon as you possibly can. You find out more about passive income and portfolio income in other articles and Blog posts on www.MillionaireMindsetSecrets.com

 

Cynthia ~Social Cowgirl
www.SocialCowgirl.com

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Create Multiple Streams of Residual Income

April 24, 2011 in Business Opportunities with Comments Off

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Residual incomeis income that keeps coming in month after month, year after year, from work you do only ONCE. One type of residual income is earned when a product is sold and the customer reorders the same product again and again requiring no additional effort. This type of order is referred to as an auto-ship. This business volume is what your recurring income is based on, so the more affiliates (or customers) on auto-ship in your network, the higher your residual income will climb. A good example of this type of business is a nutritional program that allows for repeat sales.A home business that uses leverage (efforts of other people) and that provides residual income is the best first step to creating wealth, which can lead to financial freedom (fire your boss). It is therefore very important for anybody who is looking to create a reliable source of income from an online business. Internet based MLM (multi level marketing) business opportunities offers this combination of leverage and recurring income. This income is made possible by being able to earn commissions on future purchases by your down-line. I believe that creating a stream of residual income is one of the best ways to build an extremely profitable online business long-term.

Now you can create wealth with multiple streams of income. There is only one option you should accept in order to provide yourself and your family with a reliable source of income: Multiple streams of residual income. If so, then welcome to the wonderful world of ‘internet marketing,’ where the average Joe or Jane can actually create multiple streams of income with several great online business opportunities. Fortunately, turning a home-based business into residual income is not as hard as it may seem. We will examine a few examples below:

- Affiliate Commissions: Affiliate ommission or residual income is the main source of income from affiliate programs. An affiliate program is a business which allows you to sell its products or services and earn a commission on each sale. In many cases, you can earn income (commission) on a service which is paid for on a monthly basis by the customer. This is one of the best possible ways to build your home based business income. Building residual income is a strategy for attaining financial freedom, and my web site has been created to help people achieve that objective.

- Membership Commissions: Another way to earn a great residual income is to sell memberships and get paid a commission each month the membership is maintained. To be successful with this type of business the service must be perceived as valuable to members and be consistently delivered on time. The only way an online membership business can generate long-term income is through a high rate of customer retention. There are many programs available online which pay commissions for selling memberships and this can be a great source of reliable income for your online business.

- Online Selling: The ability to create a residual income is a powerful and very attractive feature in network marketing and one of the fastest growing areas of opportunity is found in online shopping. There are many online programs where you can become an affiliate and have your own online store. When you introduce this opportunity to other people you earn a commission on what they sell from their online store. When people shop on your online store you earn a commission on anything they buy. This year, about 28% of those doing discount mall online shopping are expected to be women, up from 21% last year, according to Forrester Research.

Residual income is the fun way to personal financial freedom. By now you should be able to see the advantages of setting up multiple streams of income. You can make money online with this simple and proven formula, which others use right now to earn multiple streams of income. I am a firm believer in the strategy of developing multiple streams of online business income to achieve true financial freedom.

How can you create multiple streams of recurring income for yourself? I suggest using the one-bite at a time principle to create multiple streams of income. You start with one good program and focus on that until you achieve a steady stream of income, then repeat the process with the next online opportunity as follows:

- First you need to identify a great affiliate program that meets all the criteria for success.

- Create a budget for a minimum of six months and enroll in the first affiliate program.

- Commit to spend a specific number of hours each week marketing your new business. Some programs like Six Figure Yearly (visit my website for more information) provide a comprehensive Starter-up Guide.

- DO NOT QUIT. You are building your own business and you must see this as the first step to achieving wealth and an early retirement.

- When you start to generate a residual income with your first affiliate program, find another great program and repeat the process.

A great way to build an income stream is to combine an affiliate program with smart marketing. There are thousands of articles written on the subject of marketing online and you can find many great ideas to help you get started. You will find that an endless flow of new ideas on marketing are being created for online businesses and you can always find more effective ways to market and grow your own business. This is what makes the Internet so exciting and challenging for most of us who are building multiple streams of residual income.

I have been earning an online income with several great affiliate programs and MLM businesses opportunities for more than ten years. Some programs are great for a beginner as they provide fantastic training resource for learning how to be successful while you have the opportunity to earn explosive income almost immediately. So, you can be selective in choosing a home based business that anybody can succeed with and develop a reliable, sustainable income stream.

Are you ready to start building multiple streams of income? Take action today and start building an income for early retirement.

 

Cynthia ~Social Cowgirl
www.SocialCowgirl.com

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