How to Develop Multiple Streams of $100,000+ Home Business Income
Got a home business? Want a six-figure income?
The sure route to home business wealth is to think
"multiple," as in multiple streams of income. You
can easily develop new income streams if you do
two things:
* find new ways to get customers;
* add new products or services for sale.
Devising multiple streams of income should be a
regular part of your strategic planning. I
recommend you think hard about it at least every
90 days.
1) New Ways to Get Customers
If your main source of business is the Yellow
Pages, for example, what happens if your phone
goes dead tomorrow? Your business goes dead, too.
It's happened to others. It's happened to me. And
it WILL happen to you one day.
You can _easily_ avoid this migraine-waiting-to-
happen!
How?
Set up at least two other sources of new business
to support your main one. Start today. Here are
some quick ideas:
* run low-cost classified ads in your local
newspaper (or another paper, if you're already
doing this);
* give a seminar once a month and watch the new
business roll in -- you can literally "speak and
grow rich" this way;
* pay for Web site traffic from GoTo.com,
Sprinks.com or another pay-per-click search
engine;
* start REALLY cultivating referrals from existing
clients -- tell them how much you enjoy working
with them and ask for the names of friends who
might want free information from you.
Exactly what you do is not important. Just get
started on this business-building tactic -- that's
what
counts!
2) Add New Products or Services
In addition, you should be offering multiple
products or services, to offset any downturn in
sales of one or the other.
Here's an often-overlooked place where you can
look to find new product ideas -- the space
between your ears.
Reason? You -- like every home business owner --
have a book in your head, waiting to be written.
And you don't have to be a "best-writing" author
to be a "best-selling" author, as Robert Kiyosaki,
author of "Rich Dad, Poor Dad," points out.
Example: When David Garfinkel, president of
Overnight Marketing, launched his "Killer Copy
Tactics" Web site in April of 2000, he netted
about $10,000 for his efforts. But all he really
did was take existing content and "repurpose" it
for sale and use as an ebook.
What do you already sell in your home business
that you could also sell as a book ... or ebook,
audio tape, video, newsletter, tele-class or live
seminar? There really are NO limits here.
It's no secret that almost all $100,000+ home
business owners have multiple sources of
customers, and offer multiple products and
services. So, start setting up _your_ multiple
streams of income. When you "recession-proof" your
home business this way, you can stop worrying and
start living your dreams!
About the Author
Excerpted from "8 Secrets of $100,000+ Home
Businesses," by Kevin Donlin, a what-to-do guide
with a built-in "success coach" and a "700 times"
guarantee. Available from
http://www.eightsecrets.com
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