I am going to break down the topic ‘Two super important reasons to have multiple streams of income in your online business and how you can manage that‘ into 2 parts. First let’s discuss two important reasons why to have multiple streams of income and then I’ll talk about the second part- how you can manage that.
Two super important reasons to have multiple streams of income
First let’s talk why you want to have multiple streams of income in your online business or home-business or MLM.
Number one reason I’m going to state here is security. It’s a kind of extra security for your online business to see a side income stream. It’s like having an extra cushion to fall back on when things are not going right in your business.
And you might have heard many times that don’t put your eggs in one basket. This same thing is true in your home business or online business, if one income stream goes dry then you’ve another one flowing to sustain you.
A little story would be good example here. I love farms, it’s not that I grew up on one or I would like to live on one, except a grape farm(as being vegan I use them everyday in my shake) but they are pleasing to the eye and and openesss and spaciousness is pleasing and relaxing to the mind and body. We used to go for vacations on farmhouse that my father owned. And always loved going there, jumping in big tanks of fresh tube-well water and river water. And loved watching and enjoying the different crops in different seasons.
So, you might be thinking that what does multiple streams of income has to do with a farm crops. You are right. But my point is even nature has a system where during a year usually 2 or more than two crops are rotated to keep the soil fertile and to provide different grains or different fruits for different seasons of the year.
So if one crop during a year is not sustaining then the farmer has another one to look up-to and moreover the soil is getting more fertile by crop rotation.
Can you see what I see here! It’s some extra security with not only one but multiple streams of production just like multiple streams of income for your online business.
Number two reason is that having multiple streams of income is going to be less stressful for you your online business.I personally like to have a back up for everything. So extra income stream for your business is like having a back up plan for revenue to keep rolling in.
Suppose if a company you’ve joined is doing great and you’re benefiting. And god forbid if in future it’s not there then it’s going to be very stressful for your online business which you built from scratch with your sweat and blood.
Two super important reasons to have multiple streams of income in your online business and how you can manage that.
Part Two- How you can manage that
Do some research and choose something that’s going to supplement your primary business where you like to spend the big time of chunk in. Choose something that is fairly compatible with what you are doing already. So that the new venture and the old one, both go hand in hand.
Most of the network marketing and affiliate marketing and mlm companies have the structure of bringing in the new affiliates in. So if you’re already into recruiting just like me then choose a venture that has to do with recruiting too. So that it becomes easier for you too recruit in two different MLMs.
Choose a new venture for your side income stream that goes with your values and personality. And that which makes you more productive and fertile.
Be careful not to spread yourself too thin that you’re not mastering anything.
If you’re fluttering from one venture to another without learning and going deep in one. Then that’s not going to benefit your online business in the long run. You need to establish credibility in your online business. And credibility comes from authority and authority comes from mastering something.
Hope you’re enjoying my story, video below and this blog post! I’ve one more little interesting story in the video since this is the month of valentines!
If you want to know what am I doing to have multiple streams of income for my online business then connect with me on Facebook HERE or join my group BeYourOwnBoss and I would love to help you out.
Or comment below which kind of different multiple streams of income you have and would like to share here.
Two super important reasons to have multiple streams of income in your online business and how you can manage that
PS. If you want to know what products I recommend & love that I buy & use from Amazon on regular basis ,then click the Store link on my homepage.