ately, I have been meeting create them, you can replicate
many business owners who them and sell them in perpetuity.
have questions about
multiple and passive income Let's look at different income
streams. These are business streams that a business owner
owners just like you - coaches, like you can generate:
web designers, consultants and
other solo professionals. They - Digital products. As a
charge a very nice hourly rate, professional who works with
but when they are not working customers, you already know what
with clients, they don't get your customers are interested in
paid. as well as the information they
are looking for.
How can you change this? How can
you change this for your Turn this information into a
business, and make money sellable product by publishing
continuously, whether or not you and selling it. Depending on the
are working with clients. Would topic and the information, you
it improve your lifestyle and can create digital products of
increase your profits if you various lengths.
could have consistent streams of
income coming in from sales of - Audio Products can be delivered
your e-books and CDs, workshop in two different formats. They
bookings and commissions? These can be instantly downloaded from
are called multiple income your web site any number of
streams because they are in popular audio formats, or you
addition to you regular income could burn them onto a CD and
stream, and they are called physically ship the product.
passive because you create many
of the products once. Once you Either way is a great way to go
since many people like to listen income stream:
to information instead of reading
it. 1. Creating an Affiliate Program
for your products, thus, sharing
- Teleclasses. Teaching classes product products with people who
over the phone is a good way to refer new customers to you, and
demonstrate your expertise to helping them create an additional
many people at once and to offer income stream.
your coaching or consulting
sessions at a lower price point. 2. Recommending Other People's
Products, though their affiliate
Material taught and discussed program, thus creating another
during tele-classes can be income stream for yourself and
re-used to create tips booklets, your business.
special reports and audio
products. As you can see, there are many
ways for you to turn your
- Workshops. Same as expertise into products, and
tele-classes, workshops can be generate additional income with
used to teach to many people at it. If you are just starting out,
once, instead of doing one on one pick one or two different product
sessions. types, and work on them. Than,
add a few more, and you will have
- Affiliate Programs. There are different income streams created
two different ways to use in no time.
affiliate programs as another
About the Author:
Biana Babinsky is the online business consultant, expert and author, who teaches business owners how to create passive income streams. Now you can learn online business techniques directly from Biana at http://www.MarketingSalad.com
Read more articles by:
Biana Babinsky
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