To be successful online, you need to diversify your sources of income. Never tie your business to one specific product. For that matter, never rely one a single type of product. If the market for that product dries up or begins to slow down, your income will be reduced significantly.
You should diversify among several different classes of income. For instance, I make most of my money from my ebooks. However, even though I enjoy writing and marketing my own stuff, I would never consider just handling my own products exclusively. I offer a number of different types of products to protect myself financially.
In addition to my own ebooks, I also make money from my coaching programs, affiliate products, writing, and advertising. It provides a nice living and gives me enough to do so that I don’t get bored. But, I am always on the lookout for new and exciting ways to make money. That is the fun thing about this business!
Recently, I bought into one of the hottest selling programs online on how to save money on my gasoline bill by using one of those drive using water systems. In the course of reading the ebook (that I bought to save money), I discovered a great new profit center.
As I read through the manual, they mentioned that I can use their technology in any way I can imagine to make money. ‘How great is that?’ I thought. This technology is one of the hottest sellers online and the publisher is giving me permission to cash in with him. It was a marketers dream!
I immediately took off my ‘saving money’ hat and put on my ‘making money’ hat. After brainstorming for quite a while and considering a number of possibilities, I came up with a great money making idea. I put it into effect to try it out and I’m making money. So keep your eyes and ears open for money making ideas, sometimes they can pop up in the most unexpected places.
