Episode 23 – Is It Important To Have Multiple Streams Of Income?

So, people always go on about how cool it is to have “Multiple Streams Of Income”.

But, is it as great as people make out?

multiple streams of incomeThat’s the topic of today’s video where I discuss the concepts of Multiple Streams Of Income.

Enjoy and please share and comment!

Video Transcription

In this episode I’m going to talk about how important it is to have multiple streams of income in your business. This gets talked about a lot, I really want to shed some light on it and give my opinion.

So is having multiple streams of income in your business important? You hear some people go on quite about MSIs, or Multiple Streams of Income, so I want to talk about it.

First of all, I will say that it is important to have multiple streams of income, and I’m going to explain why. I always explain this as if you had your own shops, because your online business, network marketing business or affiliate marketing business is basically like you have people going to your shop every single day, but your shop is online. There’s a number of different things available, there’s different things on the shelf. Only, it’s not like that to a lot of people. I see a lot of network marketers where they’ve got their business opportunity, and they may even have the products for that opportunity, but they don’t have things to offer.

Multiple streams of incomeWhat happens when they talk to the massive amounts of people in the home business industry who have already got a home business opportunity, and they’re completely happy? What do they do then?

A lot of times, when you get two network marketers talking to each other, they end up butting their heads against each other, both telling each other how great their opportunity is. No one is really making money there, no one is really getting anywhere at all.

If you’re a network marketer, you’re going to be talking to a lot of people within business opportunities already. There’s going to be some people who are “married” to the business opportunity, they’re attached to the business opportunity, they love it and go to the events, and they don’t want to move away from it.

In that situation, it’s disrespectful to just harp on about your own opportunity if they are already happy building one. What you can do is offer them training, your own training or valuable training through something else.

What I do is I have my own business opportunity, we have a whole range of products as well as the opportunity itself, but in addition to that, I use a lead generation platform to help me generate leads for my business opportunity that I have been using for a few years. That has helped me be a top earner within my business opportunity.

I also promote that platform to other people who want to build their business opportunity online. Why do I do that? Because I want to help other people with what they’re struggling with.

If they are struggling to build a home business and get leads, I’m going to help them get leads through the lead generation platform. If they’re not happy with their opportunity or they want something else, I can talk to them about that.

The point is, I find out what people want. I find out what people actually need, and then I offer something, where as what most people do, as soon as they see someone they actually assume that they need their opportunity which isn’t the case in a lot of situations

Let’s get back to the point.

Multiple streams of income don’t just promote your business opportunity and your system or affiliate products. I’ve said this a million times before, you do that because typically, 97-98% of people will not want to join your business opportunity. They may already be in a business opportunity.

But you still need to make money off that 97-98%, and you do that by offering multiple things. Affiliate products, training products, lead generation platforms, just like I do.

If this has resonated with you, and you want to know how to do this better, add me to Facebook, the link is to the right, and get in touch!

About the author

Nick Pratt

I earn a full time income from the Internet and my passion is to teach other regular ordinary people to do the same!