The concept of having multiple streams of income has been in existence for quite some time. Many people, however, wouldn’t know where to begin or have any clue to what I am talking about. So what I am about to say may sound a little strange, maybe even new to you… Building Streams of Income provides you with unlimited earning potential.
Back in 2006 the now best-selling author Robert G Allen wrote a book all about this new concept and it became one of his best-selling books. The name of the book was “Multiple Streams of Internet Income” . This book became very popular because it provided a means to continue to earn an income from the Internet regardless of your employment status.
I wrote a blog post on my blogging page at Wealthy Affiliate all about this ‘idea’. You can read it by clicking Multiple Streams of Income.
Back in 2006 there were many people struggling to make ends meet in the town I was living in at Baton Rouge, Louisiana. This book was addressing this issue of not earning enough revenue to keep your family from falling into debt. It was a true reference to explaining exactly what to do to earn more income.
In this book, Robert details the most up-to-date online revenue generating ideas and methods to success. You’ll discover how to:
- Double your current offline business by going online
- Launch an Internet business in hours
- Set up six robust streams of Internet income that flow 24/7/365
- Deliver your marketing message to consumers faster, cheaper and easier
- Operate your business from any telephone in the world
- Drive traffic to your site and get people to beg for your products
- Turn junk into cash at auctions
- Make advertising pay for you
- And much, much more
I happen to be one of these individuals that the book was talking about. I had a good job. My wife also had a good job. The more money we made, the less we had to show for it. Together we were earning in the 50’s but were still struggling to save money. I was already earning top pay where I worked so getting a raise was out of the question.
My wife and I both are frugal and don’t spend money foolishly. So to be able to make more money from our employment was also out of the question. I worked a rotating shift so getting a part-time job was also not in the cards. The only other recourse we had was to try and make money from the Internet.
I decided to start an online business from home. This would serve two purposes. It would save money from operating a second building plus create many tax “deductions” on the normal expenses at home. Let me explain.
Working from home I would be saving, all kinds of money on rent, utilities, insurance, transportation, etc, because my business would be in my own home. I would be paying electric, the mortgage, the insurance, etc anyway. But since I was using my home as a “business”, now all of these standard costs were now “tax deductible”.
I call this a Win-Win situation. I had already purchased another book about the tax advantages of having a home-based business a long time ago. I didn’t really care what I had to do to earn an income from the Internet, as long as it was legal. The book that I purchased Home Tax Savings tells you the difference in the two tax systems that America has, and how to take advantage of it.
I created a business entity between my wife and I which was a combination of our names. My choice was to be totally legal, there by notifying the IRS that I was operating a business from my home. All my expenses immediately became tax deductible under IRS laws and regulations.
Going this route, I also had to get a business license from my city and a Tax ID with the state. This opened up some benefits to my business, such as buying at wholesale prices, many items being tax-deferred, etc. But it did create another obstacle, which was more paperwork for filing taxes. Now a monthly ritual with the State and the City. So advantages also have disadvantages.
My first online venture was through eBay. I started a store on their website. I was just barely turning a profit on the drop-shipping of products that I was selling. The more I worked at writing descriptions and taking pictures of the products, however, the better I became.
The advantages of starting a business online like this are you don’t have the expenses of building a website, hosting the website, or advertising to get the traffic of visitors to your website.
EBay already has millions of people visiting their website daily. So the traffic is already there. It is up to you, as a vendor, to create an atmosphere that will attract the visitor into your store so they will become a customer.
All the fees that are associated with having an eBay store are tax-deductible which is a real benefit when your profit margin is a little small.
Build My Own Website
I had found myself trapped in the amount of profit that I could rely on every month. I had debated on whether to open another store that would be in a different niche or change what I had already found success with. I would lose some of the regular customers if I stopped selling the product they were buying. What was I going to do?
I wanted to build my own website. I couldn’t afford to pay someone to build it for me. At that time this was the only choices you had to get a website. This was before WordPress, Wix, or Weebly website builders.
I found Site Build It and decided this was the direction that I was going to take. They had a unique WYSIWYG (what you see is what you get) website editor program. I found it remarkably easy to use. I also was learning html coding to enhance the articles that I was writing.
Site Build It is a hosting company located in Canada that also has a website builder program to build your own websites. Back in the early 2000’s Site Build It had more websites that were on page one of Google than any other hosting company had.
Site Build It still have a very good website builder program and hosting services if you are interested in learning if their plans are right for you.
I was using Google Adsense keyword tool to do my keyword research. I was new at this and my results were obviously very poor. Fortunately, for me, my website was in a unique niche (Cajun Foods) so I had little competition. I was finding success and getting good results in spite of my ignorance.
Life has a unique way in changing your focus and attention. Some people call this destiny. I just call it making the best of a bad situation. In any event, extreme maneuvers are necessary to adjust your direction so that minimal damage is inflicted.
Case in point. I was trying to decide on my new aim when out of the blue I was hit with a totally unwarranted crisis. My wife had just been diagnosed from her doctor; Susan had Lung Cancer!
I lost all my desire to work my new website and let it lapse into abandonment. I was more concerned with the health of my wife.
Susan died in 2010, February 14. My website also died along with her.
New Streams of Income
In 2012 I started another business online again. I had closed my eBay store and closed my website on Site Build It. I had created my own website all by myself. It was a WordPress website with a Socrates theme. It was totally different than my previous experience with Site Build It.
This WordPress website had posts and pages. The website I had with Site Build It only had pages. So confusing. But it was what I had and I was going to make sure that it performed well even if I didn’t know the difference between posts and pages.
I was still a newbie.
I had my website hosted at hostgator because I could have unlimited websites on their Baby Plan. This was what I wanted because I was determined to produce what I read in Robert Allen’s book, “Multiple Streams of Internet Income.”
In August of 2014 I found Wealthy Affiliate. What a difference! I was hooked from the start. They had training, and lots of it. They also have almost unlimited hosting of websites on their site as well. So my dream of having multiple streams of income was beginning to take shape. I am a premium member of Wealthy Affiliate which enables me to have twenty-five websites with my own domain, unlimited training in marketing, social media, keyword research, plus unlimited access to over 200,000 other members that make up the Wealthy Affiliate Community.
I have four websites so far, and all of them are finding success. I have been blessed and I feel very fortunate. I can’t say enough about how happy I am.
Having multiple streams of income at wealthy affiliate is very easy. First, I recommend you go through the training. Build you a niche website. Start writing content and use their keyword tool to find and select the keywords you write your posts with. Soon you start finding more and more of your articles ranked very high in the SERPS, which leads to more and more traffic.
Hey, Don’t take my word for it! Read this article about WA Success Stories by my good friend, Jeremy West. If you are looking to increase your wealth by earning more money online then this is a MUST read!
You will find everything you need at wealthy affiliate to make your online presence successful.
- Free to join
- Two free websites
- Free keyword tool
- Free training
- Up to twenty-five websites with your own domain.
- Premium access is $47 a month
- Buy yearly plan at reduced costs ($299/yr)