Get advice from any Internet marketing guru these days and you’ll hear a lot about the benefits of multiple income streams.
The basic idea makes a lot of sense. If all your online income is from one source, then if that source is eliminated you’ll have no income. Say you have a blog and make $500 a month from Google Adsense. Then Google goes bankrupt and your Adsense income is gone, until you can scramble and replace it with another ad network. On the other hand, if your blog used several ad networks already, you could easily replace Adsense ads with one of your other network’s ads and have very little lost income.
The same idea applies if you’re doing network marketing, possibly even more so. Network marketing companies have a tendency to disappear after a few years, making it essential to work more than one program at the same time. That way when one fails, you still have income from the others.
What you don’t hear much is about the dangers of multiple income streams. Building any sort of online income requires a tremendous amount of work, and investments of time and/or money. If you try to build multiple income streams at the same time, you will dilute your efforts for all of them.
When you’re in the first stages of building an income with a program, I’d suggest only building that income. Focus your efforts on getting into profit with that single program before moving to another program. Then, use the profits from the first program to both continue advertising it and advertising a new program. The key is to not go into debt in multiple programs at the same time.
Be aware that getting into profit will take time, whether you’re blogging for dollars or doing network marketing or selling widgets online. Give whatever program you’re working time to succeed before deciding it isn’t going to work.
Unfortunately, I don’t follow this advice, since I feel the need to evaluate many programs so I can give you reviews on the blog. But this is definitely a case where it’s far better to do as I say, rather than as I do.