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Multiple Streams of Income With Affiliate Marketing

Aug 17, 2007
I am sure you have often heard the phrase 'multiple streams of income' and wondered what it actually means. For many business people, creating multiple streams of income online, offline or both is ensuring security for both themselves and their businesses in the future. Many firmly believe that it can also save them from the so-called 'famine effect' in the business industry.

If you are an affiliate marketer, it is advisable, if not vital, to have multiple streams of affiliate marketing income so that if one of those income streams vanishes it will not have a devastating affect on your business in the way that it would if you lost your sole source of income. If you speak to any of the most successful online entrepreneurs, they will tell you that they have established multiple streams of online income.

A vital first step in setting up multiple streams of income is to assess and evaluate your resources. You should start by assessing yourself. Start by jotting down your answers to the following questions:

a) What are your talents, abilities and strengths?
b) Are you gifted with excellent and creative writing skills?
c) How well would you do at sales?
d) Are you good at communicating with people?
e) Do you have an unique ability or an artistic skill that perhaps many others don't have?

Through this, you can determine the kind of business in which you can possibly excel.

The next step would be to look around you and and jot down your assets and physical resources such as computer, colour printer, scanner, digital camera, cell phone, CD or DVD burner. Write these everything down because they can all be used as resources. Consider also your friends and family; make it your business to find out what they possess that you can get access to. Remember that no man is an island! You can use the knowlege, talents, abilities and resources of everyone you know.

These are basically the initial steps if you want to create multiple income streams. If you are already a webmaster or website owner, you definitely have an edge, though. All website owners should be putting their sites to work to gain extra income by joining the affiliate marketing business.

Because affiliate marketing programs come in all shapes, sizes and guises, it is increasingly seen as one of the most desireable ways of creating multiple sources of income. There are an almost infinite number of affiliate marketing programs that you can sign up to and from which you can start earning money immediately. Either part-time or full time, with affiliate markeing you can be certain that there are genuine products to promote and sell and there is real income to be made.

Wherever you are promoting products, be it website, blog or elsewhere, it is advisable to promote a good variety of merchants so that your visitors have a diversity of destinations to choose from. Using multiple merchants in the same site or niche means only one thing; you have multiple streams of affiliate income. There is absolutely nothing wrong with this business strategy because this is one of the best ways to protect your business and expand your horizons. In this way, you can also be assured that you will not experience crisis if ever one of your web merchants closed their program.

However, you should make it a rule of thumb to select only those affiliate programs that interest you so that you can more effectively advertise and promote them. Do not be tempted into signing up for numerous affiliate programs just because they might offer a high commission. You should make your selections wisely and avoid promoting products that you know nothing about or that are totally irrelevant to the subject of your website, blog, ebook or particular niche.

Try to promote products that you are enthusiastic about and, even better, that you might have used yourself. Keep in mind that your passion can capture your client by the nose and guide him or her to click on your affiliate link.

Always try to work hard to make your multiple streams of income more stable. To achieve this, try embracing some of the strategies and tactics that can help you become successful in any kind of business such as patience, persistence dertermination and a thirst for knowledge.

It may sound trite, corny, cheesy, whatever you will, but really, the most important thing to remember if you are to achieve success in creating multiple streams of income is... DON'T PUT ALL YOUR EGGS IN ONE BASKET!
About the Author
Paula Brett is an internet marketer and eBook author. You can sign up to her free monthly newsletter of I.M tips at http://www.ebooksexpo.com. You can also check out her other articles at www.article-exposure.com
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