10 Dec What to Do When an Online Revenue Stream Dries Up
If you read this part of our website on a regular basis, you’ll know that we have written about the advantages of multiple revenue streams before. But just as other revenue streams can dry up, so can internet revenue streams. The trick is in knowing what to do when this happens.
Multiple revenue streams are always the best way to earn money. Even in a good economic climate if you only rely on one revenue stream and it disappears, you’ll be in dire straits very quickly indeed. Fortunately the internet enables you to earn lots of revenue streams if you put the time and effort into setting them up in the first place.
But when one of those streams dries up, it can still be disappointing. The question you have now is what you will replace it with. The first step is to find out how much cash you will lose each month from not having that revenue stream in place. This is the amount you will need to replace to get the same level of income back again. Of course if you can replace it with more cash, so much the better.
Think about whether you want to replace the lost income in the same way. For example you may have lost an advertising contract on your blog or website. Do you want to replace it with another advertising agreement or do you want to do something else instead? You might want to add reviews of certain products in the hope of earning affiliate income from them for example.
The most important thing is to brainstorm as many ideas as possible as you try to find an alternative stream of income. The great thing about this is that you can usually find more than one idea to put into action.
Have you ever heard the saying that when a door is closed a window is opened somewhere else? Think of this as shutting a door and opening two windows. Or possibly three – you just never know. But the best thing is that where one income stream has disappeared, there are always others lurking around waiting to take its place.