Multiple Revenue Streams And The Basics
Running a successful online business you really do need to consider your options. How much time you have on your hands. What financial risk you want to outlay. When you want to see a return. How much you want to make.
Along with many other questions to answer so you build a successful online business through a proper business plan. You do need to consider putting together a business plan similar to one required to show a bank manager. Believe me, this is paramount and any business plan with multiple revenue streams is going to be the winner.
Multiple Revenue Streams in YOUR Business Plan
WHY? So you know exactly what your potential is going to be in your business. Is it actually going to be successful. Are you going to be able to sustain growth? Have you left yourself open to “all your eggs in one basket” syndrome? Can you cope and manage multiple revenue streams, or run out of time?
Multiple Revenue Streams Just Online? No way!
That is why I will always have multiple revenue streams in my business and not always all online either. You see, I love online business revenues but for me they are prone to going “pop” just as mauch as any high street store can. So to be safe and in business for the long term then I would ALWAYS advise my team to have something off line as well as online activiites.
I also like my team to diversify online as well. Too many gurus promote focussing on ONE product at a time … generally it is THEIR product LOL!
Making sure you have spread your risks over a manangeable amount of different revenue streams, this will ensure little or no effect on your monthly residual income if one happens to close business.
Multiple Revenue Streams to Ensure The Longevity of YOUR successful online business!