The Secrets to Handling Multiple Streams of Income

Recently we have been seriously slapped across the face with the backlash of a bad economy. While some have prospered, the others have fallen so far into the poor house that they may never make it back out. Robert Kiyosaki and other financial educators have shown the importance of creating multiple streams of income. Here is the reason this is so important, how to create multiple streams of income and how to be successful at it.

Why Multiple Streams of Income are Important

First and foremost, the reason creating multiple streams of income is one of the most important things you can do for yourself financially is this: No matter what you are doing currently to make a living, your job could go "Poof" in a blink of an eye. With that being said, 401K's have become 201K's. Once you take a big hit like that, it is rare that you can ever rebuild what you had through a job. There is no security in a JOB anymore. These are just the facts. However, those who are brave enough to look at other options such as entrepreneurial avenues may see things differently.

How Do I Create a Multiple Stream of Income

When talking about entrepreneurial avenues, this doesn't necessarily mean owning a multi-million dollar building having a full staff of employees although that is one way to do it. On the other hand there are several other options out there that are a lot easier, a lot less time consuming and very little out of pocket. Here are the top 3 least expensive ways to own your own business in my opinion:

1. Network Marketing

2. Affiliate Marketing

3. Internet Marketing

So which should you choose? All of them! This is a perfect combination of multiple streams of income that are not only money makers but residual money makers.

Where Do I Start and How Do I Handle So Many Multiple Streams of Income

So now that you have a few options to get your multiple streams of income started you are probably wondering how the heck you can do all this while still going to work full time, having a family and a social life. It is not easy, but it is do-able. Wealthy people do it all the time.

Step One

The key is to start with one step at a time. Which step you ask? Step one is to learn about these industries and make a decision on what you want to do. Know WHY you are doing this and get your mind into the right place.

However, before going too far and just starting up several streams of income at once; make sure you understand a little about these industries and find someone who may be able to mentor you or educate you about one at a time. The beauty of network, affiliate and internet marketing is that they can all work together cohesively.

Step Two

Feeling overwhelmed? Don't worry; it gets easier as you go. The next step is getting social. This is EASY and most people already have some form of social life. If you don't it is very easy to develop a social life both on and offline.

Online social media sites are a great place to meet all sorts of people and start conversations. There are over half a billion people on Facebook alone and the great thing is these people range in interests. Not a Facebook fan? That is also OK as there are about 200 social sites available to choose from.

If you have a wide array of friends, have a party and have your friends bring a friend. This will help you increase your warm market of people. Join a book club or another type of social club. Start a conversation with someone as focus on their interests, not yours. These things are ways to develop offline skills.

Step Three

Now that you have developed some friend skills, look at your schedule. You work 5 out of 7 days and only 8 hours a day. There are 24 hours in a day. Look at what you are doing with your spare time? Are you focusing on ways to better your situation or are you sitting in front of the TV or belly up at a bar? My point is if you can invest even the smallest amount of time into making multiple streams of income, you will get much further than those who don't. It starts with mindset and taking action. So make a schedule and mark off the times you are not available and dedicate the other times that you ARE available and actually spend them doing something for your business.

Step Four

Next, learn how to say no when distractions from your goal come into play. I am not saying you need to miss important functions, but learn to prioritize and to know the difference between distraction and time sensitive things. The great thing about being an entrepreneur is that you can be much more flexible. Obstacles get in the way. If you are going to keep a laser vision focus on the end result, then you can't allow distractions or obstacles interfere. Wealthy people do not see obstacles, they look for ways around. They don't say "I can't"; they say "How can I".

Overall, in order to get ahead financially you need to do things differently. Having multiple streams of income is a great way to change your future even if it means missing a TV show once in a while.

MARK MANDERVILLE is a professional in attraction marketing and personal branding. Click on MULTIPLE STREAMS OF INCOME that will help you build your network m affiliate and internet marketing opportunities to the next level.