How to make a million dollars: Multiple Sources of Income

How to make a million dollars- Multiple Sources of Income

In this article I will approach the subject of Multiple Sources of Income or also know as Multiple Streams of Income. This model is not new as people have been doing this in one fashion or another through history. Be it anyone that has two jobs, or a job and also selling something from home such as cookies or pies.

This is also the process through which most if not all millionaires have made their fortunes to become millionaires.

Let’s talk about the assorted sources. You should have one primary source of income that will be your main steady money maker so you have a base of income to work with. You want to have money to start your other income sources. This can be a job that you love or not but keeps steady money coming in. Then you start adding other sources such as a part time job, or selling something you can make or if not something you can resell at profit.

There are many ways to make money on the internet. You can resell products or services using the many affiliate programs that are existing, some for no money or investment. Another way is to sell intellectual property such as writing an e-book on a subject you have good knowledge. You don't have to be an expert on a subject; you will still have more knowledge then others that would pay for that knowledge. You can even make an e-book out of others knowledge. Just research a subject and become knowledgeable on it and then write the e-book.

Keep your eyes and ears open for opportunities at all times. You may overhear a conversion of someone looking to buy something, then another conversion of someone wanting to sell something. You can bring them together and make money as a broker. I guaranty that if you keep yourself open to opportunity it will present itself.

Make sure that any source of income such as selling a service or item to another, that item or service has to exceed the expectations of the buyer. Over deliver on all your transactions and you will attract much more in return.

Remember that your primary source of income should be kept independent from your other sources so they won’t interfere or jeopardize your primary source of income. Then at some point you will have multiple sources bringing in more money then your primary source and you can either quit your primary source or use your time developing your other sources and starting new ones.

How many sources of income should you have? I don’t think there is a limit, I suggest starting with a few and working towards 15. Much of your sources of income should be automatic. Set up processes that run automatically 24/7 so you don’t have to spend much time on them.

Here’s a good suggestion, make an e-book that sells inexpensively, say $14.95. Advertise and spread that e-book all over the internet. Have clients enter their email address as part of buying the e-book (make sure you put a disclaimer that you will be sending the emails but not selling their email address.) Use this email list to market your other products or affiliate programs. I will cover this concept more in depth in another article.

Multiple Sources of Income will eventually free you from working a JOB allowing you to live the life you want.

Article Source: http://www.articlesbase.com/internet-marketing-articles/how-to-make-a-million-dollars-multiple-sources-of-income-1350387.html

This article was writen by Joe Mathys, Online Business and Marketing Coach.See his other articles on his blog