Archive | May, 2015

Work at Home – Multiple Streams of Income

By Lowell on May 10, 2015 in Blog

The concept of multiple streams of income is a very wise one that will give you some security. If you are just starting to work from home to build your own business, you should consider this because it makes so much sense on so many different levels.

Mainly the theory is that if you have different sources of income (for example different affiliate programs), that if one source is not doing so well one month, it won’t matter as much because you still have income from the other sources to tide you over.

Another aspect of this is that some affiliate programs pay lower commissions and only by virtue of sheer volume it adds up to a tidy sum; and/or it is also a good idea having commissions from other sources to create a more substantial income. This is how lots of different affiliate programs can work for you. At face value you may think you don’t want to go through all the trouble and expense to keep a program that pays $5 or $10 commissions – however if you have volume from taking massive action to advertise, $5 or $10 times 20 or 50 is not so bad at all! ($100-$500).

It is notable here that ‘residual’ income is the kind of income stream you want for the most part; this means you make the sale one time and then each month you earn commissions directly and indirectly from that source (mainly from your own effort but also possibly a percentage of your customer’s sales as well).

Possibly a combination of residual income and one-time-only (OTO) sales would be a good mix for your business. Sometimes you can make more money with OTO if you need money fast – but then again you are constantly having to ramp up your advertising and marketing to keep those one-hit-wonders coming. Either way you need to build and sustain your momentum at all times.

Still another way to look at the concept of multiple streams of income is as completely disparate sources – For example you may have a couple affiliate programs, and additionally to earn more money you may provide some service to your peers such as ghostwriting, editing, blog or link posting, research, etc. Naturally if you have any skills with web design – even just basic like being able to add or remove banners from websites, then that too could be a source of income that would all add up with the rest to create a substantial monthly income.

In all cases when you first start out to build your business, you may not know exactly what you want to do. As you acquire knowledge and skills to do affiliate marketing, (the easiest thing to do) then you may discover that you really like, or at least don’t mind some facet of your operations. This can be something you can pursue that can represent an additional stream of income for your home business.

Just don’t ever say ‘I can’t’ – because you can. If you just refuse to be put off or intimidated by technical terminology or concepts, you will find that most things are not that difficult to learn. With the way software and systems are today, they do most of the real technical tasks and you merely need to learn how to operate them from a menu-based interface. Keep an open-mind in this regard and remember that “there is no ‘can’t’” – there can’t be when you need to do what is necessary to run your own business.

… but you ‘don’t know how’? You can learn. You have search engines that can find just about anything you will ever look for – (they are truly amazing); if you encounter a term or concept you are not familiar with, just run a query and you will have the answer within minutes. You will find many free resources online that you can research even to deeper levels; and if you really find that you need training, there are many ways you can do that online as well, many times for free, so ‘just do it’.

They Say the Road to Success is Littered With Failures

By Lowell on May 9, 2015 in Blog

This is one of those sayings that really has a deeper meaning that is worth meditating about so as to get the benefit of the wisdom therein. Bottom line is it means that we don’t always reach our target goal on the first or even second attempt; but that if we are really determined to succeed, we get back up on the horse each time we are thrown until we do.

Many times, because of human nature, we tend to set our goals too high or expect magic because we are not thinking logically when we are excited about something. Surely the Internet marketing world is ripe with statements that infer promises that can lead to unrealistic expectations if we are not logical.

When we read that someone is making big money with little effort, we somehow skip the part where they tell us how many years they struggled to get to that place. Yes it is possible to make big money on the Internet. Yes it is preferable to work for one’s self rather than for someone else. Yes it is POSSIBLE that we can do both. What is not possible is wealth without work, unless we win the lottery or inherit money. Sorry, but that is the facts of life.

We learn from our mistakes and maybe we need some time to lick our wounds after we have had a failure. But the important thing is to keep trying – try and try again until you get it right. Analyze what you did and what you think your mistakes were or what you could have done differently to possibly have a different outcome. Then just start over. Each time you do this you will be starting from a position of more knowledge and more power. You will build momentum, gain confidence and you WILL make it some day.

For most people they will need to work very hard to earn a living in today’s economy, and that will just keep their ‘head above water’ – they will be able to survive, although just ‘living from paycheck to paycheck’, which infers never getting ahead but just keeping afloat. In the current economic environment we are pretty much trapped into taking whatever job we can get and being fortunate to have it, doing the best we can. After all, an underpaid job with no possibility of promotion is better than no job at all.

So are we just beaten down with no options? No, actually we can take control of our own destiny if we are willing to work a little harder. In reality no matter how hard you work the position you have is never going to expand and you may never be able to get a better position in that company because there just isn’t any opportunity. Bottom line is no matter how nice a company is they have tasks that need to be done and they are there to see that the company runs, not to make life better for their employees.

So think in terms of doing something for yourself, apart from your ‘day job’. Use the opportunity there to survive as well as you can while you build something on your own. You might have to make some further sacrifices in order to do this but it will be worth it. It may take some time too, so in the meantime, always be looking for a better job – funny how that works, but if you already have a job they say it is easier to find another one.

Success = Mindset Plus Action

By Lowell on May 8, 2015 in Blog

It is believed that if you have a positive attitude and have faith in yourself that you can do most anything you set out to do within reason. We must not forget that just ‘feeling good’ won’t do anything except maybe make you happy and you may even live longer as a result. However it does not get the job done. You have to take your positive attitude and put it to work for you by taking action.

The experts lately are telling people there are 3 parts to a successful mindset. #1 To be grateful for all of your blessings. This is not just money but includes talents and skills, your health and your entire lifestyle. Sometimes this is hard for us to realize when we have so many problems and ‘times are tough’ almost all the time now.

It is sad to realize how many people do not have the benefits that you enjoy – if you need to get down to the very basics, understand you are blessed just to have clean drinking water – many do not; many are starving literally to death every day or dying from preventable diseases. You can see how much better you have it than they do. Hopefully you don’t have to go that far and you can actually enumerate the many things you have had and continue to have going for you that are well above the basic survival level. Remember that every day if you need to.

#2 To have an abundance consciousness. This one goes with the parable ‘look at the glass half-full rather than half-empty’ – think about that. Half-full is good. Half-empty seems like there is something to worry about – the amount in the glass is exactly the same either way. Why not look at things on the positive side and know that you enjoy abundance. Feel that you are rich and you will be is how the concept goes.

#3 Look for opportunities. Things rarely ‘fall in your lap’ from out of nowhere. Usually you are in the ‘right place at the right time’ and you are able to benefit from the opportunities that present themselves. You can take this down to basics too if you imagine that you want a blue sweater – you can sit there and want it for a long time and it will not magically appear in your closet one day. You would need to go to the mall and start looking through stores at all the sweaters to find the one that you like.

This is all relevant to the mindset that is required to do things that are ‘out of the box’ – like starting your own business or creating a product or service. Or even if you like it in the box, then you likely would want to be promoted to a high-paying position, to have wonderful relationships and to be excellent at everything that you endeavor to accomplish. There is a lot to be said for believing that you can – but only if you take action to do it.

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Archive | May, 2015