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You'll hear and read about developing multiple income streams as protection against any one of them failing.
When you only have one source of income, you are exposed to the vagaries of some third-party making decisions that are not in your best interests.
In my working life, I have lost my job eight times for various reasons, most of which had nothing to do with me or my work.
I fully understand that any change in circumstances can destroy what you have worked for overnight.
I know people who have had their YouTube income turned off because Google decided to shut their accounts down.
Others had lost significant amounts of money when PayPal closed their accounts.
Your best protection against this happening to you is to build what I like to call Micro Streams.
The easiest way to do this is with affiliate marketing where you build small 5 - 10 page niche websites to promote a single affiliate product.
You can build each one and then set up the traffic sources until they are profitable as stand-alone sites.
When you tweak and track until you generate $100 per week, you can build another one in the same or a different niche for another product.
They are very low maintenance, so having a stable of these doesn't take much time to look after every week.
Some of these you can scale to generate more income or just keep building more niche sites.
Regards,
P.S. Does that sound complicated? You don't even have to write the content.
All the content could come from article directories, YouTube video transcripts or PLR content.
Find out more about doing affiliate marketing profitably here. |
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| Brent Milne 12 Torrens St Happy Valley South Australia |
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