| Multiple income streams; exciting words, but what | | | | But how are we controlling our costs? This is |
| does it mean in every-day English? | | | | important to do, seeing we have the cost of some |
| In the world of Niche Markets in Internet business, | | | | advertising as well as the web site costs. We found |
| multiple income streams simply means having more | | | | it necessary to build a customer list for each |
| than one source of income. This is achieved by | | | | different product, and periodical emails are sent to |
| making money from more than just one online | | | | your list. All these costs can become quite extensive, |
| business. | | | | almost prohibitive. |
| Each different web site would generally be a | | | | So, what do we do? How can we maintain our |
| different business. They could relate to each other, | | | | buinesses, yet keep our overhead down to where it |
| but not necessarily. You could have businesses that | | | | isn't cutting hugely into profits? |
| have nothing to do with each other. Both methods | | | | One critical aspect to look at is your hosting and to |
| are quite successful. | | | | look for a web site hosting service that includes all or |
| Let's examine different scenarios. How to market | | | | as many tools that you need in order to do some |
| unrelated products? In the offline world, we are quite | | | | serious Internet business. |
| accustomed to seeing a little bit of just about | | | | The tools aren't all you need to consider. Sure having |
| everything sold in department stores, from razor | | | | a hosting service that gives you an autoresponder is |
| blades to baby clothes to fashion dresses to living | | | | certainly a huge help. But, we have four sites here to |
| room furniture to washers and dryers, and so on. | | | | market and at the average rate of $24.95 a |
| Is this how it is done in the online world? Absolutely, | | | | business, that's close to $100 a month, a pretty |
| but it is not the only method. Mega Internet stores | | | | steep bill especially if you are just starting out. |
| have evolved in such a way that to compete, you | | | | Now we are looking for a host that will provide all |
| must be huge, and have tons of money to finance | | | | thetools we need to run our businesses, plus we |
| the operation, including the cost of the ever-changing | | | | want one thatwill allow sub-domains in case we have |
| web site. The competition and horrendous costs | | | | closely related businesses. Can we get it all at one |
| leave no room for the little guy, so he has to find | | | | low and affordable price. |
| another way to do business. | | | | In addition to the tools we need and the overall |
| Enter the newcomer, looking for a way to make a | | | | hostingpackage we need for FOUR businesses, we |
| living on the Internet. Seeing he can't compete selling | | | | are all aboutmultiple income streams, so let's see if |
| a large mix of hard goods and soft goods, he can | | | | there is a way tobenefit (PROFIT) from the hosting |
| decide on a "niche" product to market. A niche | | | | company as well. |
| product simply means specializing in one key product, | | | | Many hosting companies now offer an affiliate |
| or just a few related products. | | | | program where you can earn a commission by |
| This concept applies to both hard goods (items that | | | | referring a business and gaining customers. That's |
| must be shipped), as well as to downloadable | | | | pretty much a given, however the KEY is to ensure |
| information products. | | | | that the commission is recurring and not just a one |
| This opens up a whole new world of possibilities, and | | | | time commission. Not sure what I mean about |
| it means a whole different way of conducting | | | | recurring income? Check the link out below for more |
| business. Specialization is often achieved using | | | | information on recurring income streams |
| mini-sites that sell only one product. The mini web | | | | This is all great but the question now "Is there really |
| site might have from one to five pages, but usually | | | | a hosting company out there that will give me all the |
| just a single page. | | | | tools, let me host multiple sites for one reasonable |
| Your information product that you want to sell needs | | | | price AND on top of that let me build another income |
| a web site, hosted by a web hosting provider that | | | | stream?" |
| provides youtheir service at a reasonable cost. Let's | | | | The answer is yes and you can read my review of |
| assume you started selling your product, and after a | | | | Recurring |
| few months it is bringing in some income. It might | | | | Income Streams and how a company called |
| amount to $1,000 up to $3,000 per year. | | | | "ThirdSphere" is anexcellent example. At the same |
| That's not too bad, and is worth keeping, but | | | | time you can learn the difference between Multiple |
| certainly not enough to make a living with. This is | | | | Income and Recurring Income Streams. |
| where the concept of multiple income streams | | | | Read about it here: |
| comes in. During the months that your business is | | | | Having Multiple Income Streams using Niche Marketing |
| building, you could be looking for other ideas. You find | | | | is mandatory in today's Internet Marketing world...that |
| one that excites you, and more importantly you do | | | | is, if you want to make any serious money. Internet |
| the research and discover a good potential for | | | | Marketing today has become much too competitive, |
| attracting customers. So you go ahead with a second | | | | and the newcomer has very little chance of breaking |
| web site. | | | | in. |
| You have now achieved multiple income streams! | | | | Niche Markets, each with their own web site and |
| Over time you have other great ideas. Actually, you | | | | relevant content is THE best solution. Niche Marketing |
| are now up to four web sites with different ideas. | | | | is the hottest topic on the Net today. Niche |
| Two of them are related information products, and | | | | Marketing is featured on my web site at Best |
| the other two are hard goods. | | | | Affiliate Products, and you can learn much more |
| All four are successful. Each one separately does not | | | | about it there. |
| make enough to live on, but the combined four bring | | | | I'll see you soon, in Niche Country. |
| you in respectable dollars. | | | | |