Multiple Streams of Income

Since I have to work from home, I realize that I am going to need more income than one website or one blog can generate. I need multiple streams of income. I love that phrase. Like many people, I read Multiple Streams of Income by Robert Allen several years ago. And you know what? I didn't do it. I did one thing-- wrote an ebook on information marketing.. which is now fairly outdated. When I wrote that ebook and posted it on Booklocker.com, I had intended to add more ebooks and create multiple streams of income, but I didn't.

As you can see already, there are two forms of multiple streams of internet income that I can develop right there- ebooks and websites. Ebooks have come along way in the last few years. Now that Amazon.com has Kindle, it will be interesting to see just how popular they become.

I currently have a few websites that generate a little bit of income from Google Adsense ads. Up until now, the pennies from Google have not generated a check in quite some time. However, my client has been teaching me how to use search engine optimization (SEO). I know for a fact that he gets nice monthly checks from Google. So, I am happy to learn all that I can from him to do better.

Many people criticized Robert Allen's Multiple Streams of Income, but I took one core common sense notion from the book that rings true to me-- having multiple streams of passive income is key! Passive income is income that does not need your attention. When someone clicks on an ad on one of my websites, I don't have to be working at the moment to make money. The ad revenue from Google is added to my account automatically. When someone buys my ebook, I make money for work that I did once. With a well-written ebook, I could be paid for that same work over and over again.

Now, I have to look at how to create multiple streams of income that I can do with my limited resources. Also, everyone has limited time. We all have the same number of hours in a day. And then with the additional limits due to my disability, I need to be able to work from home.

So, I am looking at ebooks and websites as the best sources of multiple streams of income at this time. I may develop other kinds of streams of income as my resources allow, but for now I am satisfied with working on these.

Reference:

Multiple Streams of Income: How to Generate a Lifetime of Unlimited Wealth! Second Edition

Kindle: Amazon's 6" Wireless Reading Device (Latest Generation)