Episode #83 – How important is it to have multiple income streams in your business?
Have you ever been involved with a network marketing company, or mlm and they either closed down, the ftc shut them down, or the owner changed up the comp plan?
Have you ever promoted an opportunity online only to find out the owner was taking all the money and running?
This happens all the time, there is just no way around it.
I have had my fair share of opportunities go away and I was left with nothing.
But now I have multiple things going that bring in income. If one goes down I just replace it and move on.
It’s vital you have multiple sources of income. But it’s also important that the different sources of income don’t compete with each other.
Promoting 2 different mlm companies is not the right thing to do. They are competing against each other and you will never get any income going.
Promoting 1 opportunity and 1 System that helps generate leads for that opportunity.
Well now you are on the right track. Because that would be 2 income streams and they would not compete against each other.
My system looks like this.
I promote 1 opportunity, I promote 1 system that generates leads for the 1 opportunity, and I promote traffic sources with affiliate programs built in.
We all need system to help build leads, and we all need traffic to send to the lead capture page.
When you setup these income streams, if one goes down, just replace it and move on.