01 Nov The Advantages of Multiple Online Revenue Streams
The internet is changing all the time, and as it changes the idea of making money online can change too. There used to be a time when anyone could set up a simple website and expect to make some money from it, but those times are long gone. The good news is that there are many more ways to make money online now than there were previously, so it makes sense to make the most of as many methods as possible.
However there are ways and means to do it. For starters it is best to focus on just one income stream. For instance you might have a passion for a particular subject and so you set up a blog about it that you can monetise with Google Adsense and perhaps Amazon ads too. But it would be unwise to do anything beyond this to begin with. Instead you should focus your energies on building up this first income stream before you set up any others. This will enable you to make the most of the first one. Once it has started earning money for you, you can move on to another income stream and focus solely on that in much the same way.
But why earn different streams of income online in the first place? Well there are many reasons for doing it, not least the fact that it protects your overall income. Every single website you have represents a stream of income for you. However you can never be sure that any individual site will continue to earn money for the long term. So by setting up different ones on different topics and ensuring they all have different aims, you can increase your total income while protecting it at the same time.
You can probably see how smart this is. If you have a regular job and you lose it, you will go from full time income to no income in a matter of minutes. But even if one website in your arsenal falls flat, it has little effect on the total income you are earning.
Doesn’t that sound like a great idea?