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Robert G Allen Multiple Streams Of Income

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One of the great things about the internet is that things change so quickly. This is good as it allows new marketers to take advantage of novel trends and new developments. On the other hand of course, if you don't respond quickly to new market conditions, your business ? and income ? can be adversely affected.

That's why you need to have multiple streams of income ? so that if your current top earner disappears off Google's radar or one of your many competitors introduces a new product that wipes the floor with your best offering, you have other income streams to fall back on.

It's just like buying stocks and shares ? you want to have a diverse portfolio to avoid any sudden spikes and glitches in the market. Or put it another way ? don't put all your eggs in one basket.

That's all well and good, but just where are you going to find these multiple streams of income? Sometimes it can be difficult to find even one business opportunity that's worth investing your time, energy and money in. The first logical place to look is the market.

It's not always easy to get hold of hard facts and figures when it comes to marketing and often, when you do get some, they are well out of date. However, the figures below show the UK market percentages of directly sold goods for 2000, a year when the total spend in this area was $2 billion. These figures are sourced from the UK Direct Selling Association and make interesting reading.

SERVICES 32%

(telecoms, utilities)

PERSONAL 26%

(cosmetics, fragrances, skincare?)

FAMILY 17%

(Books, toys, games, business aids ?)

HOUSEHOLD 14%

(Security, water treatment, electrical?)

WELLNESS 7%

(Nutritional, diet plans, supplements)

FOOD 4%

(Frozen & other)

The size of the market may vary, and the relative positions may change ? but the top five above will probably be able to provide consistently good income streams. The obvious omission from the above list would be online gaming, which is a relatively new phenomenon.

So how do you get started? Simple, just pick one of the areas and do some background research. Remember to use a logical approach when evaluating your options ? the key areas to look at are; the company; the pay plan; the product; the level of admin; the sales methods available and the cost ? both start up and running.

If this is your first business then try to start off with an opportunity that will provide you with residual income. Concentrate on only one business at a time. Work this until you get it to an acceptable level where it is growing without too much time input on your part. It doesn't need to be making thousands of dollars every month ? it's easier to arrange for 5 businesses to return $1000 each than it is to arrange that a single business will return $5000 a month (the law of diminishing returns).

When you are achieving consistent growth month on month, pick a business opportunity in a different sector and repeat the process. Then do it again ? and again. Aim for at least 3 and preferably 5 solid businesses. Try to have at least 40% of your income as residual income ? this is your baseline.

It will probably take at least 6 months, and possibly more, to get each business to the steady growth phase, but it's well worth the effort. This will provide you with a diverse income which will be stable and highly unlikely to be severely impacted by changes in market conditions.

If an opportunity arises in one particular area you can focus on that for a period of time in order to maximise your profits. And if there is a downturn in an area you can always use the income from the other sectors to weather the storm.

And when you eventually have your multiple income streams online and they're all working well ? always be on the lookout for any new opportunities to add to your business portfolio. You can never have too much of a good thing.

Robert G Allen Multiple Streams Of Income

This is a huge topic and is one that you must completely understand. Otherwise, you will get ripped off and lose a lot of money. Let me explain what multiple streams of income are and what they are not. Multiple streams of Income are a concept that many millionaires use to have many revenue avenues. Michael Corcoran, who was the founder of the first multiple income stream marketing system on the internet in 2001, would agree with this concept.

When Mike Corcoran created the first Multiple income stream marketing system, he never imagined how so many people would take advantage of this concept and use it against you to rip you off. Before I get into detail about the ways that these so called "internet Guru’s" are taking advantage of you, I’ll get into the way it was intended to be used.

Multiple income streams was intended for a person to start a business with one company, affiliate program, MLM or direct sales company. It was intended for a person to master one program, have success with it for a minimum of one to two years and then add another business to the portfolio when, and only when, the first business was running on autopilot. While still running the first business, putting little time into it because it was running so well, focus a little more time and money into the second business to get that one up to speed where it was duplicating the results of the first business. This is how you can double your results. Like, I said, it usually would take a year or two to get a business and multiple incomes up to the level where they were running on autopilot.

If you have spent many years developing the above strategy, it is alright to add a third or a fourth business to the portfolio as long as you maintained the original businesses. Adding more than one business to your portfolio in less than a year just proves that person is not focused and says a lot about their character. Having a total of more than 3-4 businesses in a portfolio just means that a person is simply a program jumper and is out to take your money.

Program jumping is becoming more and more popular these days from these so called "internet guru’s". This is a typical case in which someone is a program jumper. Watch out for these people. If someone has joined three programs in 6 months time, they are a program jumper. Program jumping makes sense for the leader of jump. They usually say things like "Bran New" or "Get in Early" or "This one is so much better". The truth is, they take all the followers from program to program to program. They make excuses of why they left to old program to find another one. The truth is, they have suckered all the people they can sucker into the first program and their income is suffering, so they say they’ve found a better mouse trap over here, so come and join me over here and you’ll make a ton of money with me over here….I know people who have joined 5 programs in 7 months. Anytime a new program came on the market, they were in it, suckered all the people they could into it until the next new program came about.

I know several people, who on the outside look great, but jump ship every two months. They put together training packages, marketing tools such as capture pages and auto responders, professionally written letters, etc. They look like a leader until you pay them $1000 for program A, then another $1000 for program B, the $1500 for program C and so on. Pretty soon, they are rich, you broke and left to fend for yourself.

Use your common sense out there. Do your homework before you join anything with anybody. The first question should be, What else do you promote? What have you tried. How many have you tried this year? Last year? If they do NOT have a stable track record, run for the hills. Think about it. If you were an employer and wanted to hire an employee and you get an applicant that has had four jobs this year alone, would you hire them? NO Way! You know that by the time you trained them, they would leave looking for more money! Isn’t that right?

My suggestion, use your common sense and beware of the so called "Internet Guru". They disguise themselves as an expert, but they are really just program jumpers.

Rj Sherman

http://www.theegoldmine.info

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Both Hamish Hayward & Rj Sherman Sherman are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Hamish Hayward has sinced written about articles on various topics from Computers and The Internet, Entertainment Guide and Internet Marketing. Hamish HaywardDiscover the key criteria you must evaluate when starting your own online or offline business. Free e-books and ne. Hamish Hayward's top article generates over 22200 views. to your Favourites.

Rj Sherman Sherman has sinced written about articles on various topics from The Internet, Marketing and Multi Level Marketing. . I have failed so many times on internet businesses, that I am qualified to share what works and what does not. The more money you make wil. Rj Sherman Sherman's top article generates over 480 views. to your Favourites.

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