I recently interviewed master marketer Paulie Sabol, and there were just too many nuggets in that interview for me not to expand on. One of the things that Paulie talked about was a book that he purchased when he first got into entrepreneurship. The book was “Multiple Streams of Income” by Robert Allen which is definitely a must read.
There are many ways to build an Internet Business such as:
- Create a product
- Affiliate Marketing
- Network Marketing
- Many many more
There are many ways to create multiple streams of income so you have to decide which one is best for you. The awesome thing about creating multiple streams of income is for the simple fact that if one of your “streams” or internet businesses dries up, then you have other streams that you can rely on to continue to bring you money. Creating multiple streams of income is definitely a wise decision for any entrepreneur.
Paulie talked about how he took PLR and created a membership site out of it. Crazy thing is he took the same process he used to build the first successful site, he used it again and today has many successful recurring Internet businesses.
He went on to talk about how when some folks make money, they end up going to the next venture not using that same ‘recipe’ for success. What works once, will work again. The ingredients might be different but the recipe, the process, will always be very similar.
The question I get from a lot of people is “How do I know which type of Internet Business should I build?” The problem is that the answer varies from person to person. A great place to start is your passion. Some people say that it doesn’t matter if you’re doing what you’re passionate about to make money. I agree that you don’t always have to be passionate about the niche or type of Internet Business you’re in, but I promise you it makes it a whole lot easier.
I’m a firm believer in creating multiple streams of income, but you’ve got to come up with a system, a recipe for success that you can duplicate into other ideas or passion’s that you have.
While exploring creating multiple streams of income, don’t get caught up in creating multiple drips of income which I’ll talk about tomorrow.
Stay Hungry – Stay Foolish