Adding Up - Creating Multiple Channels of Online Income

by Chris Malta

"o"matter"what"your"business"is,"it's"never"a"good"idea"to"rely"on"only"one"source"of"income."If"that"source"ever"starts"to"dwindle,"you'll"quickly"find"yourself"in"a"difficult"financial"situation.
"
That's"why,"according"to"serial"entrepreneur"Tim"Knox,"of"TimKnox.com,"you"need"to"have"many"streams"of"revenue"coming"in."Then,"even"if"one"stream"dries"up,"you're"still"generating"money"from"other"channels."But"how"do"you"begin"building"additional"income"channels?"Knox"recommends"several"methods:

• "An"eBay"Business
  This"is"one"of"the"easiest,"most"affordable"ways"for"you"to"begin"earning"profits"on"the"Internet."You"can"get"your"feet"wet"selling"online"with"items"lying"around"the"house;"as"you"gain"experience,"you"can"graduate"to"using"drop"shippers"and"light"bulk"wholesalers."Explains"Knox,""EBay"provides"an"easy"entry"into"E-Biz."It's"a"consummate"marketplace"with"massive"amounts"of"traffic"who"are"there"primarily,"not"to"gather"information,"but"to"buy."



• "Affiliate"Marketing
  Essentially,"you're"selling"someone"else's"product"on"commission."As"a"new"seller,"you"might"shy"away"from"promoting"another"seller's"items,"but"you"need"to"realize"how"much"you"can"boost"your"income"just"by"adding"affiliate"goods"to"your"lineup."Marketing"downloadable"merchandise"is"especially"ideal"for"newcomers,"because"it"doesn't"involve"stocking"physical"products,"and"tends"to"have"extremely"high"profit"margins.



• "Creating"Informational"Products
  This"potential"revenue"stream"can"take"many"forms:"an"e-book,"audio"program,"video"or"DVD,"hard"manual,"tele-seminar,"or"CD."The"idea"is"worth"far"more"than"the"execution;"so"if"creating"the"product"is"beyond"your"capabilities,"you"can"find"a"ghost-writer"or"programmer"to"turn"your"idea"into"a"consumable"good.
  
  Most"people"don't"feel"they"know"enough"about"a"subject"to"educate"anyone,"but"an"expert"is"just""a"person"who"knows"a"little"more"than"the"next"guy.""If"you"look"hard"enough,"you'll"find"that"you"do"know"something"you"can"create"an"info"product"about"–"whether"it's"kids,"vacations,"pets,"or"origami."You"can"sell"your"goods"on"eBay"or"your"own"web"site,"and"sign"affiliates"to"go"out"and"sell"them"for"you.



• "Joint"Ventures
  A"joint"venture"simply"means"coming"together"with"another"seller"to"promote"each"other's"products"and"share"the"profits."For"example,"if"you're"selling"an"information"product"on"eBay,"you"might"find"someone"else"doing"the"same."If"their"product"is"complementary,"rather"than"competitive,"you"could"promote"each"other's"products"for"a"50%"commission.
  
  The"real"beauty"of"joint"ventures"is"that"you're"not"just"selling"your"products,"you're"also"building"your"email"list."When"your"partners'"customers"buy"your"products,"they"can"opt-in"to"your"list,"so"you're"growing"your"customer"base.

While"these"are"by"no"means"the"only"income"streams"you"can"generate"online,"they'll"get"you"off"to"a"solid"start"as"you"grow"your"income"to"create"a"solid"monetary"position."Says"Knox,""There's"no"such"thing"as"job"security"anymore"–"you"have"to"establish"that"security"for"yourself."The"Internet"really"opens"that"door"for"folks"to"look"at"their"lives"and"time"and"energies,"and"to"find"opportunities"in"almost"everything"they"do."

BIOGRAPHY:

Product Sourcing Radio is Created and Hosted by Chris Malta and Robin Cowie of WorldwideBrands.com, Home of the Internet's Largest Source of Genuine, Factory-Direct Wholesalers for online sellers. Click Here for more FREE E-Biz & Product Sourcing info!