Tag Archives | work at home

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’.

Don’t Just Work to Earn Money, Fight to Make a Profit

By Lowell on April 23, 2015 in Blog

Making a profit is usually always beyond the level of income that you have with a job if you are an average person without a professional/academic degree. They paid the dues on the front-end and many struggled to go to school for years at great expense of both time and energy. Many times they had to have jobs that paid minimum wage.

We may have to work a little harder and a little longer and might never make as much, but no reason we can’t have enough or even plenty of money. We can, if we can find a way to have multiple streams of income which might ‘even out’ or equate to a decent amount of money when added together with our day job wages or salary.

Yes two jobs. Day job and night and weekend job online. You heard it was called a home office – when in fact it can become like living in an office. For example, like when you are having so much fun working at home that you find yourself logging back on at 12:00 midnight on Friday night to do something or other; great fun and then you will know what it means to live at your office.

This is ok at special times but it is probably actually healthier if you work at home the majority of the time, if you have a life offline. You can’t go home from the office when you work at home. So that is part of the discipline that you need to work at home – you need to be able to put things away as you would when you leave from your job.

No matter what, we need to have moderation in all things whether they are good things or not so much. You need to have time for you and your family if you have one. ‘You’ are very likely a human who needs rest and relaxation no matter how much responsibility you have.

It may help if we focus on trying to enjoy our work and feel thankful that we have it rather than to feel stress and fear about our financial situation which may be the reason we are working twice as hard as most people! It’s a whole different atmosphere obviously to be happy with what you are doing.

Never fear! The whole idea is someday you will be able to quit your day job! Not really realistic to quit too soon – be sure you can replace your salary and insurance benefits with your home business for a while before you take the leap. There are rarely any absolute guarantees like a set salary and paychecks at the same frequency. You never know. So that is why it is best to be sure you know what you are doing as far as you can see.

All Things in Moderation – Even Work at Home

By Lowell on April 21, 2015 in Blog

Too much of a good thing is still too much! We need a balance in whatever we do. Even with food that is considered fattening or unhealthy, if you eat healthy most of the time you can get away with one time eating something bad. The same principle if you just limit your portions on both good and bad foods, and get some exercise in your daily routine, nobody will know you have been naughty.

Just as you can literally shorten your life or risk your life by exercising too much, the same is true for work. We do need to work as part of our life and at times, like for example when starting a new business that we may work extended hours. We may be working more than 8-hours a day, working on our days off, and worst of all not taking any breaks. You may be okay to do this a few times off and on, but on a regular basis you are abusing yourself.

There is no business that is more important than your health, both mental and physical. To have health we need balance. In fact, if you collapse or get sick who is going to do your work then? Doesn’t it make more sense to take care of yourself so you will be there? Pace yourself – eat enough, sleep enough, relax enough and work enough – but not too much of anything!

It’s ironic or maybe not that when we work at a job we watch the clock to make sure we don’t work more than the time we are paid for; however people who are really loving what they are doing working at home, will sometimes completely forget to stop working at regular intervals. Most people with their own business it seems work many hours without pay.

Balance – we have the freedom to work too much and the other side where we don’t work enough and hence our business will eventually fail through our neglect. Being sure that you do your work and actually devote enough time to it to make it work, is one of the disciplines we must have if we are going to be self-employed from home.

It may seem silly to you but you may need to make some checklists and outline exactly what you need to do (including taking regular breaks) throughout your day. You should really take it seriously even if your home business is only at this point part-time, if you ever expect to earn any decent money. Ideally before too long you may be able to quit your day job. This will free up quite a bit of time where you are not commuting and tying up 8-10 hours of your day, which will give you a nice relaxed feeling of freedom and well-being!

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