Creating multiple streams of income means that you have different ways of generating income that are not dependent on each other.
For example, you can provide a service, sell a product, host paid mastermind groups, create an inner circle, provide training, and more. There are many things you can do to bring stability to your income so that you don’t have all your eggs in one basket.
Blogging
You can earn money blogging by getting your name out there, becoming popular in your niche, and generating traffic to your blog. You can make money from ads, sponsored posts, affiliate products, and more.
Junk mail
Collect specific audience information (from a form on your blog), and then you can market affiliate products, information products, training programs, and more to them.
Marketing information
Do you know of things that have worked for you in any area of life within a particular niche? If so, you can create and sell information products, such as books and videos, that teach your audience something valuable.
Affiliate marketing
This type of marketing works both ways. If you have information products or other types of products that you sell on your own, you can create a program that allows other people to promote the product and earn a small commission. Rather, you can do the same by selling products for a commission on your website, blog, and email marketing.
Training programs
While information products are sometimes types of training products, you can go much deeper into training. You can create an electronic drip course for email or by using some kind of learning management system on your website.
Continuity programs
One of the best ways to earn money is to create a recurring monthly schedule that never ends. They pay by subscription. There are many types of examples of this, such as a paid inner circle or a private group.
Coaching programs
If you are successful in running a particular type of business, you can start training people on how to do what you have done. This can be a lucrative additional stream of income.
Online communities
A popular stream of income is online communities, such as think tanks, inner circles, and private groups, which you can only get into if you pay and are part of the right audience. Typically, space is limited.
These are just some of the ways you can create multiple streams of income online. There are also ways to do it offline, like savings, investments, rental income, and more.
