How to Earn Multiple Streams of Income OnlineMay 06, 2022
Have you ever wondered how you could earn more income beyond just trading your valuable time for money, a paycheck or salary fee? Do you know that 96% of the workforce today trade their valuable time for money, that paycheck, that salary, that fee.
Today, I want to share with you three ideas that you can very quickly earn income beyond just trading your time for money.
Idea number one being able to earn passive income. Now what do we mean by passive income, essentially, in the online world, certainly in the space that I'm in, if you create something once like a course, a program, any kind of online digital product, if you create it once, you can sell it multiple times, you can use it social media to be able to promote your program, you can use your email list, you can put it up on your website, you can get affiliates to be able to help you promote your product. So you just create it once and then you can sell it many times the cost of actually putting together the course or program is really just your time, and then it's scalable, you can then be able to promote it to people all around the world. And as many people as possible you can get into your program. So the benefits of it are yes, there's some costs, but it's minimal. It's your time, but really the biggest benefit is it's scalable. So that's idea number one.
Idea number two of earning multiple streams of income beyond earned income in the online space is to be able to earn recurring income, that means income where it recurs on a recurring regular basis. A great example of that today for many people that they can relate to is Netflix, you pay a monthly subscription to get unlimited, in many cases, film, movies, TV series, or Spotify, you can get unlimited music, I know that I do not necessarily Netflix, but I do with Spotify, and you pay a monthly fee for doing that in the online and knowledge commerce space that I'm in, you can create a monthly subscription program. And it means that you get paid monthly for teaching and coaching. And it is recurring income into the future. The great thing about that is it means you can actually then plan your future with some sense of security knowing that this income is going to be recurring and coming in and you can then be able to offset and plan your expenses and investment in your company and your team. So that's number two is recurring income.
Idea number three is having income coming from doing work as an affiliate, a great example of this as Amazon where you're promoting somebody else's product, and you're getting a percentage or a commission for the work that you do in promoting that that's a great way to get started with limited cost upfront for you. And as long as you're constantly doing that and constantly promoting other people's products and then being sold then you're getting paid a commission.
So those are three big ideas today that you can get started to be able to earn income beyond just trading your time for money. Surely you want to do more than just get that paycheck that salary that fee and those are three ideas. Remember their passive income, create a course or a program or to have a membership subscription program to get recurring income or get affiliate income through promoting somebody else's product and getting a commission hopefully you got value for that.
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