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Casual Articles - Multiple Income Streams: Don't Put All Your Eggs in One Basket
Viral marketing is probably the number one method for generating traffic and sales - IF it is set up properly.Take the case of a viral ebook - which means a book that can be passed from one person to another bringing benefits (profits) for each party in turn.How is this achieved?The basic concept i
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that yo
When your family sits down to set a family budget you might not be considering the value that coupons and rebates hold. Those little slips of paper you clip out of the newspaper and magazine can add up to big savings.The practice of cutting coupons is decades old. People get their scissors ready and flip through ne
How big can you compound your thinking?
Apply Multiple Income Streams to Your Life
There is a dilemma, a conundrum that is raised by this concept that everyone needs to resolve. What works for one person may be too challenging for another. The question remains: "Is it better to focus on only one activity and get to be an 'expert,' or should we spread ourselves in several directions?" No one answer is right for everyone.
Consider that "No one person, or investment, or activity, should ever make you or break you." If "all your eggs are in one basket," aren't you are at the mercy of the success of that venture or relationship?
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that yo
Last month, I wrote about the importance of selling when it comes to making money in the investment markets.Simply put, even the best investment in the world will lose it's appeal sooner or later. When that happens, or when another investment looks even more inviting and potentially profitable, a reallocation of ca
How big can you compound your thinking?
Apply Multiple Income Streams to Your Life
There is a dilemma, a conundrum that is raised by this concept that everyone needs to resolve. What works for one person may be too challenging for another. The question remains: "Is it better to focus on only one activity and get to be an 'expert,' or should we spread ourselves in several directions?" No one answer is right for everyone.
Consider that "No one person, or investment, or activity, should ever make you or break you." If "all your eggs are in one basket," aren't you are at the mercy of the success of that venture or relationship?
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that yo
It is amazing to think how popular affiliate programs have become in recent years. Today nearly every ecommerce website has an affiliate program.Although it is normally very quick and easy to join an affiliate program for free, you can save yourself a lot of time and money in the long-term by making sure that you s
There is a dilemma, a conundrum that is raised by this concept that everyone needs to resolve. What works for one person may be too challenging for another. The question remains: "Is it better to focus on only one activity and get to be an 'expert,' or should we spread ourselves in several directions?" No one answer is right for everyone.
Consider that "No one person, or investment, or activity, should ever make you or break you." If "all your eggs are in one basket," aren't you are at the mercy of the success of that venture or relationship?
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that yo
One of the most difficult tasks a new prospective entrepreneur faces is the construction of a Sales Model. Many books devoted to instruction for writing a business plan devote little or no attention to this vital exercise. The knowledge needed to assemble a quantified, qualified and clearly narrated Sales Model is essenti
Consider that "No one person, or investment, or activity, should ever make you or break you." If "all your eggs are in one basket," aren't you are at the mercy of the success of that venture or relationship?
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that yo
Stock trading is carried out by stock traders who for the most part need an intermediate such as a brokerage firm or bank to carry out the trades. Stock traders work for themselves by investing money in shares which they believe will increase in value over time and then sell the shares at a later date for profit.Th
Scattered focus seems to offer a possible solution. Two wealth-building concepts are clearly in opposition to each other: focus (The 80-20 rule / Pareto's Principle) and the power of momentum. Common sense suggests that your core business, your expertise, should be your primary focus most of the time. There will be lag times in your business, however, when things are seasonally slow, and perhaps your time will be better spent in another endeavor.
Understanding how "cycles" affect your business is one of the most important things you need to study. It defines cash flow, payroll, inventory, and a host of other factors. Become an expert on your business. Get it running smoothly, and put it on auto-pilot (stream number one). Then focus on beginning another business that can be built and run in the "off season" of your primary business (this is stream two). Once stream two is started, you are utilizing the concept of multiple streams of income. Continue as your talents, time and expertise will allow.
Like a good sports team, each income stream has their own role to play for the benefit of all.
Remember that one of these businesses should be a reliable income producer, essential for your financial survival. Other businesses you build, however, should have th
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