Multiple Streams of Income Can Bridge the Gap

Mostly when we hear a about the concept of multiple streams of income we are talking about affiliate marketing business opportunities. This is a very sound theory that includes the ideas that if one program isn’t doing great at any time, the other programs will make up for it; just the fact that some commissions may be small for some programs, but if you put them together with others they even out pretty nicely.

Another way to see this multiple streams of income concept is in having for example a day job and a home business, both earning income, and/or if you have lost your main source of income and need to earn money to survive while you find another. It actually fits very well with the idea of working temporary jobs or contracts on a flexible schedule, while looking for a permanent full-time position OR building a home business!

Temporary positions can be long or short term, full or part-time. Either short term or part-time will give you the freedom to search for a job, go on interviews, etc while still earning money ‘in the meantime’. This can also work wonderfully if you have unemployment insurance, and this usually has parameters – a certain amount of money weekly for a set number of weeks (depending on your work history, etc).

There is actually a lump sum dollar amount that corresponds to this process. If you declare your part-time income from temporary assignments, then they will deduct what you earn from your unemployment benefits. It is not that you lose them — you actually save the number of dollars you have earned and thereby lengthen the term in which you will receive benefits. So by working part-time, for example, you can take 12-weeks of benefits and turn them into 16-weeks.

This gives you more time to decide what you want to do. Do you want to work permanently as a temporary part-time and run your home business? Or do you want to find another full-time job and run your home business part-time? Another good thing about temporary work is that you ‘get your foot in the door’ in businesses and may be privy to information about all of the available positions there It could perhaps go a long way if the department you are ‘temping’ in speaks highly of you to a hiring manager.

The thing is though that it is so much fun and so liberating to work at home and if you want that to be your focus so that you can eventually do it full-time, you may start getting pickier and pickier about your job interviews. You may even find yourself ‘self-sabotaging’ the interviews – completely sub-consciously – because you really do not want another job and although you need the income, there may be multiple ways you can get as much as you need!

Affiliate Marketing – Earning While Learning

All of the skills you have gained from your training and experience in your working life are all relevant to starting a business. There are some specific skills that you should acquire as you go along in your online business endeavor. Just as you learned on the job by experience you will do the same with whatever you focus your energy on.

affiliates

Hands down the easiest way to get in there and start learning how to earn money online, is by being part of an affiliate program. You need to learn how to do marketing and advertising online, as well as how to write and communicate. With the affiliate marketing program business model, thankfully what you don’t need right off the bat is knowledge of how to develop, program and produce a product to sell; or need to know how to build your own organization and membership system.

Obviously developing a product or program yourself is time and money intensive. Probably more people would try to start a business if they knew they didn’t have to invest their resources this seriously without the benefit of any formal training or experience in this area. Everything in life is a gamble, but it is always best to be conservative and not to ‘gamble with more than you can afford to lose’ – because there are never any guarantees.

There are different kinds of affiliate programs and if you don’t feel comfortable earning commissions from referring people, then you can focus on selling the products and services provided by that program. These can be digital or physical products. Having multiple ways to earn money from one program is a great thing if people will fully engage in it. You can theoretically start earning money right away, keeping in mind that this usually involves marketing and advertising first.

This kind of program will supply you with an ID and a link that they give you to advertise along with a web page that is all ready for you to use. No programming or technical skills are required. You just set up your account and they will give you what you need to start. Most if not all affiliate programs also provide some level of training or coaching as well as possibly the use of some resources. You pay your membership dues which are usually very reasonable although there is a wide range as far as cost.

Another form of affiliate marketing would be where you work directly for a manufacturer selling their products by ‘drop-shipping’. You see some of the oldest home businesses in this niche – such as selling beauty or health products for example. Even though you don’t have to buy an inventory or deliver things to customers, these type of businesses may charge you for all materials you use such as order forms, brochures, etc. So while tangible products may be easier to sell, and have a reputation that you can benefit from, it is not as inexpensive for a start-up as a purely online-based business.

Work At Home and Avoid the Rush

When you stop to consider how much of your life is spent being involved in your job, it is shocking. There is rushing to get ready for work, hurrying to get to work on time, getting all your work done, getting back home in rush hour, getting to sleep so you can get up on time to start the whole rut over again. Really, the only other activity that gets as much time as work is sleep if you can squeeze it in! You really must, you know because if you collapse from the stress and exhaustion who will do all that you do?

 

If you have small children it is even more effort to get to work, not to mention you do have responsibilities to create a ‘home’ and to be there for your family. While as adults we may realize the necessity of working to support our families and we may even try to make our kids understand, to a child’s mind the only thing that seems to stick is you are not there. When you think about it, to a kid it is their waking hours when you are away at work. Nice touch to be able to spend an hour or two with them out of a 24-hour day.

This is why, particularly for people with kids that it makes so much sense to work at home one way or the other; either by convincing your employer to at least let you work from home part-time or by starting your own business. When you start to consider other things besides time, like money, you have another whole level of reasoning of why it would be best if you can make the arrangements to work at home.

Let’s calculate how much you spend on commuting/traveling to and from work, which usually is not in any way repaid to you by your employer. This calculation should include public transit costs or gasoline, and if you drive, add the parking, bridge tolls, and auto maintenance. Then there are costs that come in the ‘getting ready for work’ category, such as grooming, clothing, dry cleaning, etc.; along with eating lunches out unless you have time to make a bag lunch.

If you have small children you are likely paying a large percent of your income for child care at the minimum. Again this is in addition to the fact that your child is growing up without your presence most of the time. Not to make you feel guilty as it is a fact of life, even with two parent households, it is necessary financially to have two incomes; but again they just don’t really understand.

When you work at home your time is really your own. Not that you can slack off because you really do need to work at your business aggressively, especially if self-employed. But the point is you can work your job around your life instead of the job running your life 90% of the time. That means if you want to do your work at night, or half in the morning and half at night, or maybe have a day off in the middle of the week, that is up to you. You can then make time for your kids activities and to participate with them – and still get your work done on time!

Why People Fail to Succeed in Online Business

The main reason people fail at online business is said to be because they quit too soon, without giving it a fair chance. The underlying reasons for this are that they (a) Believe there is some sort of magic about the Internet that will allow them to succeed by osmosis; (b) Want something for nothing, meaning they are not willing to really work at it. (c) Do not actually have a realistic plan of action that includes investing their time and effort; (d) Do not treat it seriously as they would a job.

Let’s examine each of these things in a little more depth.

(a) Belief in magic. It is true that some terminology may lead someone to feel that things will be a lot easier and faster than they really are. This is where normal people should employ whatever common sense and logic they may have. Understand that the statements are addressed to the public at large. There is a broad spectrum ranging from those with skills, resources and previous experience, all the way to people brand new to the Internet, computers and/or sales and marketing.

Many statements are telling us that it is POSSIBLE – and it is POSSIBLE for the first group who have experience. Does this say it is IMPOSSIBLE without it? No, not at all, but being realistic, they will need to accept that fact that they have to learn and get some experience in order for the eventuality of success to happen for them. If they are willing and able to accept this then they have a chance to succeed with an online business.

(b) Something for nothing. People may feel that they are doing all they need to do by joining an affiliate program and paying the monthly dues. However if nothing else is done to promote the business after that then it is the same as doing nothing. Having a link with an ID does absolutely nothing without promoting it aggressively by marketing and advertising.

Yet some people feel entitled to everyone else doing everything for them and they just sit back and wait for the money to roll in. They have a very long wait because without their active participation nothing will ever happen. They are very willing to accept anything that is free which is meant to help them get started. If they don’t see anything tangible at the end of the trial period they are out of there, often with very unkind things to say about the program when it did not produce magical results for them instantly.

The correct attitude for someone who is sincerely trying to start a business would be gratitude for the opportunity, and a real effort to make proper use of the resources that were shared with them in good faith. They need to understand reality and the fact that nobody achieves wealth without work other than lottery winners and heirs to fortunes. If it seems so effortless for the ‘guru’s with their sensational stories, you are not reading the part where they struggled uphill for years to achieve what they have now.

It is true some don’t elaborate on that so you have to be realistic in your own thinking to be sure you are not mislead. An important thing to realize is they were for the most part not born with ‘a silver spoon in their mouth’ – had no special privileges or superior intelligence – and they don’t owe you anything even if they did – other than to honor their promises and guarantees.

(c) A realistic plan. This would include having a definite business plan just in so far as what exactly you need to learn to do. You need to define in detail the whats, whens, hows and whys. What exact steps you need to take to do all the necessary things in conducting a professional business. Do you have what you need to do that? If not take steps to find out how to get it.

(d) Do not treat it seriously. You must be disciplined and focused if you want to achieve anything with your online business. You have to stay motivated even though you may not see any results at first. Just because you can work on your own time schedule does not mean skip it or put it off until ‘tomorrow’. You need to include a work schedule in your plan and be committed to it. Then work it out.

While Making Money Can Be a Hobby, It Isn’t a Game

If you work at a demanding full-time job and have a gnarly commute to boot, you probably are not real enthused about spending more time working to start a home business so you can be making money on the side. However this is the very thing you should be doing. It may help to look at it as a hobby – one that you are interested in and find to be a fun project that you look forward to.

@ super business man

The motivation doesn’t even have to be making money – you can imagine not having that grizzly commute and just working from home someday, kicked back with your feet up, enjoying the journey as much as the thought of the eventual destination. The point is this could be critical someday, so find a reason to love it and pour whatever is left of yourself by the time you get home into it.

We can never know what is around the corner. Whether it is going to be something that helps or something that hinders. Therefore we need to be prepared, and making the most money now, while you still can, is a wise decision. There is a whole laundry list of possible disasters of varying magnitudes that could befall you and your family. If you had some money saved and/or an alternate way to support yourself well-established, landing on your feet would be a lot more sure.

So many things that we may have grown up being accustomed to are either gone or in a precarious state. You just never know what will happen to the company you are depending on to pay you a pension. Their investments can tank just like your own. There is no longer the concept of ‘too big to fall’. We have seen the biggest corporations fall to their knees and it can happen to individuals as well, as a result.

We saw what happened to millions of people in the last ‘recession’ where people lost their money on the stock market and even lost their homes that they worked all their lives to buy. We saw people who were reaching retirement age realize they had insufficient retirement funds and instead of planning a trip to Cabo they find themselves looking for part-time jobs for senior citizens. It’s just tragic. It’s heartbreaking to imagine looking forward all your life every day to something that is only a mirage, built with ‘funny money’.

What is the risk for you to invest your spare time in starting a home business to start making money so that you can feel a little more secure? For one thing, if nothing catastrophic happens where you need the money, you may be pleasantly surprised when you see you actually have enough money saved to buy something you really want but felt you couldn’t afford, like a new car or to take a vacation now while you still can.

The bottom line is it isn’t a game – if you are going to start a home business you need to take it seriously. Your home is a ‘kicked back’ environment, and lots more relaxed than the hostile corporate or retail work environment; however this could mean that you have to even more so be really determined and focused – absolutely committed, so that you will stay motivated to take care of business.