Multiple Streams of Income

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Multiple Streams of Income

In this big world of ours, there is something for everyone.  I love it when I meet people who actually love what they are doing for a job.  Yes, people can be very happy doing the 9-5 thing and I salute them.  They found their calling and can’t see doing anything else.  Except they do wish they could have just a little more money at the end of the paycheck.

That’s when I want to talk to them about having multiple streams of income.  It’s not always about having another “job” or taking on the efforts of starting a small business, even if it is technically is a business.  But it’s a way to have extra money.  To not have that paycheck as the only source of income to pay the bills and buy the things that would make your life a little easier.

In today’s economic environment, you need something else to help make the ends meet and get over any hurdle that may come your way.  So it’s best to have multiple streams of income.  The best form of multiple streams would be passive income. Things you do once and forget it for awhile.  Another would be to be paid for what you already do or already know.

Affiliate Income

My first real niche website went live in 1996.  I had signed up for some affiliate ad network like Shareasale or something like thatLinksys and was just playing around. Trying to figure this all out.  One day I went to my mailbox and there was a check for $16.65 for some purchase someone made from a link on my website to a company I apparently had advertised.  I thought that was cool.

Then the next month I got another check for the same amount.  I’m getting paid for doing nothing. I posted the ad code and left it there.  That monthly check continued for over 5 years!  It’s not much, but it was basically free money.  Add to that the other checks from other affiliates I was playing with and it was enough to pay a few bills, take my wife out to dinner, etc…   I now understood the power of affiliate marketing and multiple streams of income.    I was hooked.

Your Talents on Loan

Ok, so let’s say you have a job with a  paycheck.  You also set up a little niche website you are working on building and generating some affiliate income.  But there is more.  Have an hour or two available during the day?  How about offering your services online?  Can you draw a picture? Make banners?  Do voiceovers??  Join a site like Fiverr or Elance and offer your services freelance.  Work when you want and for how much you want in your spare time.

Sell Photos

With today’s camera phones, everyone is a photographer.  But not everyone knows they can sell those images of cityscapes, gardens, and wheelbarrows.  Media agencies don’t like to get sued, so they buy images and video clips from companies like Shutterstock or Getty.  So where do these places get the photos to sell? From people like you.  Again, it’s not much on a per photo basis.  But after you build up a portfolio and start selling two, three or more a month, it adds up.  Think back to the first example.  Shoot the photo once, sell it a thousand times.

So now you went from having a paycheck as your source of income to haveing the paycheck, affiliate income, freelance gigs and photo sales…  You went from a single source of income that if you lost it today, you would probably be in a bit of a panic, to having multiple sources to help you over those rough patches.  It eases the fear of being broke, homeless or worse.

You Are The Boss

When you have those multiple streams of income and know you are not tied to your job or to that paycheck for survival;  That you have options.  Life gets a little brighter and little more fun.  You  have control of your destiny.  With that, you start seeing other opportunities, other ways to make money, create income and build a better future.

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