Gambling for the Internet Entrepreneur – Expand your Revenue Streams
I’ll start by saying: Happy Valentine’s Day everyone! Hope you had a great and romantic day. Now onto the post:
I actually got the idea for this post while watching a Criminal Minds episode, called Snake Eyes. It had to do with a serial killer who had an addiction to gambling. It obviously ended up destroying his life and turned him into the killer he was. While, I won’t be talking about serial killers, I do want to turn you into a serial internet entrepreneur. Don’t worry it’ll make sense by the end of this post.
Personally, I didn’t start out with a blog, I started with Swagbucks, a search and win website. I used the money I made from Swagbucks to fund my first blog and this one. So I started out with different revenue streams then just simply a blog.
Internet Entrepreneur’s Diverse Portfolio
Different revenue streams are very important for a successful internet entrepreneur. Creating a diverse portfolio is part of becoming solely an online earner. In other words, unless you create the next Facebook, you need to be making money from more then just one source online.
What Types of Income Streams can be made Online?
The internet has become a huge job creation service! Turning your website into a billboard for other companies allows you to make money online, just like offline. But there are a lot of different ways to make money online that aren’t so similar to offline business. Here are a few of the possible income streams:
- Article Writing - You can write articles on certain websites to make money online. These websites are referred to as websites for Revenue Sharing Article Writing. This is a great way to learn the basics of making money online. Since you need to learn keyword research and social media to earn from your articles. Those are some of the basics that you will need in any type of income stream you generate.
- Blogging - Blogging is obviously a good income generator. I mean “all the cool kids” do it. I digress, by monetizing your blog with advertisements, you can earn quite a bit from your blog. This requires a lot of time and effort though. So people who can’t commit, beware!
- Affiliate Marketing – Affiliate Marketing is when you provide links to people’s products and then you earn a commission if someone buys it from clicking through your link. People often write reviews and comparisons to draw people in. This method is often combined with blogging to become a primary income stream for the internet entrepreneur.
The are way more income streams to be made online. But those are some of the big ones and this article would get too long if I tried to fit them all in.
Why Expand your Revenue Streams?
Expanding your Revenue Streams online is actually a pretty simple process. But why would you need to do it? I mean isn’t one revenue stream enough. People usually only have one job, right? Well, that’s true. But the risk in most people’s lives is really unsettling. Here are some reasons why you should expand your revenue streams:
- More Money Possibility – With more income streams, it’s pretty obvious that you have the ability to make more money then you would have otherwise. Having a bunch of income streams going into your main bank balance, you can make quite a bit of money.
- More Security – Say one of your income streams is stopped because Amazon closes down. Well, if that was the one source is income, you need to completely rebuild. But if you have multiple streams, it will still hurt. But it’s not like you are getting fired. You just have to find new opportunities while relying on your other streams of income.
- More Chance to Be Noticed – If you have more of a presence online, it will be easier for people to find you. Then you can cover more places that people can be. So if someone is on Linkedin but not Twitter, then you can still reach them.
The Real Internet Entrepreneur
Creating a diverse portfolio is a way to make yourself a real internet entrepreneur. A real internet entrepreneur covers all of the necessary fields such as a website, social networks, and search engine optimization. Although an internet entrepreneur may outsource the work it still needs to be covered. It also allows the person to be more secure while making more money. By doing this you may become a prolific serial internet entrepreneur
What do you think about making multiple income streams? What income streams have you gotten caught up in? Leave a comment below!