Sunday, March 13, 2011

Multiple Incomes or Multiple Outgoes?

This is a post from my other blog, but ti seems to fit  nicely here this afternoon. We spoke about the business model of promoting dozens of different affiliate programs this morning. This post goes a little more in depth on this topic.

The original post can be found HERE. 

It seems everyone these days is promoting the concept of multiple income streams. That sounds good in theory, but there are some drawbacks to this method.

If you are constantly promoting something new, what does this tell people? If you give the impression you are a program jumper, nobody wants to follow that. You can easily lose credibility by promoting too many things.

The cost incurred to promote multiple programs can be huge. Whether it is time spent surfing traffic exchanges or actual dollars spent on solo ads and the like, it can get costly. Your time ans money would be better served to focus on a single quality program.

Speaking of focus, this is a biggie. A lack of focus can kill a business. If you are constantly jumping around from one program to the next, it will be much harder to recruit people. This makes discouragement a much bigger problem. It is hard to stay motivated when you are not seeing results.

The bottom line is, most people who attempt multiple income streams wind up with only multiple outgo streams. When you add up the membership fees most of these sites charge for an upgraded account, factor in any advertising, then add a value for the time spent, it is difficult to so much as break even.

Trust me on this. I followed this failed model for almost 2 years before I found the right training and got focused.
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