Everybody knows the phrase, there are multiple ways to skin a cat, but not many entrepreneurs believe that there are multiple ways to earn an income. Robert Allen was probably the first person to coin the term, "multiple streams of income" and it is in fact a brilliant strategy to get rich and stay rich.
Creating multiple streams of income has become a reality for entrepreneurs all over the world because of the opportunities that the Internet has created and here are just some of the many ways to help you get started building your income portfolios.
1. Google AdSense
Google's AdSense program is probably one of the easiest ways for anyone, even a complete newbies, to start building a passive stream of income. AdSense is a pay-per-click advertising network that pays you every time a visitor to your website clicks on an advertisement. Apart from placing a simple piece of code on your website that AdSense provides, the only other real work you have to do is create relevant content and drive traffic to your site.
2. Create an Online Directory
Online directories make great bait for search engine spiders because of its ability to create lots of content very quickly. You can place AdSense on your directory and watch your income grow, but an increasingly popular way of building a passive income with an online directory is by selling text links.
Selling text links is like selling advertising space except that instead of displaying banners, your directory displays links. You could offer a monthly, yearly, or even a permanent option to build this type of income.
Text links can be used on websites even if they arent online directories. Making a certain part of your web page available for selling links will allow you to take advantage of this opportunity. The price you can charge for such links will depend on how your website is ranked for amount of visitors.
3. Get Paid To Review Products
Being paid for writing a blog is now a very popular way of earning money online. You can be paid for using your blog entries to review other blogs or specific products. Many advertisers are willing to pay for bloggers that do this type of work. Websites like PayPerPost.com and ReviewMe.com are examples of such a revenue system.
4. Create a Membership Site
You could start a website with a monthly fee if you believe you can offer information worth such a payment. Offer special services and content to paying members. Knowing that there is specific content reserved for members only will help build your membership and eventually allow you to raise the monthly fee.
5. Selling Domain Names
If you understand how to do it well, handling the sale and purchase of domain names can be a good way to earn income quickly. In order to make money in this way, it is important to learn about the tasks involved and how to complete them. But once you do, you will be able to join the group of people already earning a full-time income through buying and selling domain names.
About the Author:
If you're not setting up multiple streams of income in your internet business, you're putting your business at risk. A single source of income puts you at too much risk. Visit the Internet Marketing Chaos blog to learn how to ensure your business has a strong foundation.
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