Multiple income streams online
Listen while Judith Shuttleworth chats in Marketing Conversations about why it’s so important in this economic uncertainty to generate multiple income streams online.
Relying on your job or one income stream in your business can be fatal at any time, let alone when we have extraordinary events hit us like we are experiencing at present with COVID-19. It’s important to remember that from time to time there will always be something huge that will affect our economy. Remember the global financial crisis of 2008? We should all learn from these events and not get caught the next time.
The Internet creates endless opportunities to create multiple income streams online.
Some of the benefits include:
1. Security
Your job could be gone tomorrow (if it’s not already at the moment). These days there is no such thing as job security. Likewise, businesses can experience a downturn at any time for a range of different reasons.
2. Agility
Setting up multiple income streams online is relatively quick and easy compared to setting up a whole new business that takes time and money. Once you’ve set up one new stream of income, just repeat!
3. Low risk
Because setting up an income stream is relatively easy and low cost, you’re not risking too much. If one doesn’t generate income, look for something else that will.
4. Alignment with values
When you work for someone else, you have to abide by their values. How they get their products or how they go about delivering their services. When you set up multiple income streams you get to choose so they are totally in keeping with your values or aligned to your business.
5. Ability to earn like the top producers
It’s common knowledge that all the top earners and millionaires have multiple income streams. People like Gary V, Marie Forleo and Tony Robbins all have multi-faceted businesses. If you want to earn top dollars, then you too need to diversify your business and add new streams of income. The quickest and easiest way is to do it online. Try affiliate products or, even better, start with an investment company with a conscience which is investing in climate action, social structure & smarter cities for a sustainable future. E, S and G (environment, social and governance factors) underpin their investment strategy and give exceptional returns.
6. Residual Income
Working for someone else or having a business that trades time for money doesn’t set you up with security for the future. One of the benefits of generating multiple income streams online means that you can choose to add in any businesses that will set you up with residual income. This is how you create a secure future for you and your family no matter what is happening in the economy.
