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Although few people consciously pursue this objective, multiple passive income streams are indeed the quickest way to financial freedom.
And there is no better time to start on that trajectory than right now, as the New Year beckons.
Why Multiple Passive Income Streams?
Well, two pay checks are better than one. Three are even better. Get the point? When you have an online business, you pretty much write your own paychecks. So why write just one when you can write yourself more checks?
If you want to make more money online, why restrict your endeavour to only one method? Especially if you can start producing multiple passive income streams. Passive income streams are sources of revenue that you can set and more or less forget. They require little effort to maintain and reap regular profits from.
But just in case you’re not convinced, here are a few more reasons…
One way to build an online business is to join and promote an affiliate marketing program or “business opportunity.”
There are a lot of potentially lucrative affiliate programs available and most people promote several at the same time.
Promoting a portfolio of programs will certainly increase your potential online income, but the danger is that you can end up take on too much work and lose focus.
So here are four tips to help you maintain focus while promoting a portfolio of online business programs.
1. Choose your primary business program
(In my case, MyAdvertisingPays is my primary business program.)
Promote your other programs on the back end.
In other words, promote your other programs to your primary program referrals.
What kind of programs should you choose as your secondary programs?
2. Choose secondary programs to help you promote your primary program
A good portfolio of secondary business programs might include a professional autoresponder service, banner and text advertising services, viral mailers and traffic exchanges as well as ad creation services.
Those kind of programs will help the people who you refer into your primary program to promote it more effectively.
3. Plug your programs into a funded proposal marketing funnel
A funded-proposal marketing funnel such as Commission Funnel enables you to promote all your programs through a single affiliate link which usually promotes a squeeze page with a compelling free offer.
After people have opted in to recreive the free offer, they are typically presented with a high-value, low cost follow-up offer (the “funded proposal”), which is designed to generate some upfront cash for you and pull your prospects into your marketing funnel.
On the inside they will be presented with your primary and secondary programs. The offers will be repeated via a series of follow-up email letters designed to educate and convert the prospects into customers.
The beauty of the funded-proposal marketing-funnel strategy is that you can promote everything with a single link and fund your marketing campaigns with upfront sales.
4. Start a blog to build your own unique brand
A blog will also give you the space to discuss each of your programs in more detail while offering a unique perspective which will help you to stand out from the crowd. I recommend that you get started with a FREE WordPress Blog with Site Rubix, in association with Wealthy Affiliate.
By choosing your primary program, selecting your secondary programs, plugging them into a marketing funnel and discussing them on your blog, you will be able to build a cohesive business around multiple online income streams without losing focus.