7 Ways To Generate Multiple Streams Of Income

13 Aug

In the present world, if you are trying for financial security you would be wise if you set up more than one way to bring in income. I learned this concept from motivational teachers working with the MLM organization to which I belonged. If you have not established such resources, perhaps it is time to look around for some possibilities. Therefore, I will pass on to you seven ways to generate multiple streams of income that I have learned. Perhaps you will find one or two to try.

I am starting with the one that I feel is most important. This method is now my primary resource for generating online income.

Affiliate MarketingAffiliate marketing model

With this business model, you find companies who will allow you to make sales for them. They provide you with a link to the product you wish to offer. You link the picture of the product to your website and provide the information about the product.

If a visitor clicks on the link, they are taken to the company that sells that product, and they can buy it if they wish. If they make a purchase, you will earn a small commission.

You sell from a website, but you do no product ordering or shipping. All that work is done for you. You just collect your commissions for items sold. It’s so much easier than a brick-and-mortar business.

Affiliate marketing is my choice for my main online focus. If you choose this business model, it is necessary to build a website so you have a platform for offering the products you wish to sell.

Affiliate marketing spending in the U.S., 2015 to 2020, in U.S. billions

graph of affiliate marketing spending

I built my websites through a company called Wealthy Affiliate. This company offers everything you need to create one or more website for yourself and has such a thorough training program that you can learn everything you need to know to build your website.

You will learn the best SEO (Search Engine Optimization) techniques that can get you ranked high on the Google search results pages. You are provided with all the tools you need. The most extraordinary one is the Jaaxy tool for finding great keywords. These help you a great deal with ranking on the search engines.

You can learn a great deal more about this program by clicking the link below:

Wealthy Affiliate banner

EBay

There are two ways you can earn on eBay. You can sell things at auction or you can open an eBay store, and offer items at a set price.

If you sell things at auction, a store is not necessary, though if you have a store, it will display all your fixed price items plus your auction items.

All new ventures have a learning curve, as does eBay. To make your learning EBay promo signexperience easier, eBay offers a number of tutorials that will walk you through the whole process. Once you learn how to put an item up for sale, the hardest part, in my eyes, is writing your description.

Good pictures are important. A good clear description is also important. You need to describe your item in detail, including measurements, colors, special features, and anything that makes the item unique. You must describe your item as if there were no picture available, and then add the pictures as well.

I sold a lot of jewelry on eBay when I had my store. I’d do a big January sale, marking things somewhere between wholesale and retail, and at the end of the month, after selling many items, I’d do my inventory. That month’s sale made a nice inroad into my remaining stock, and made inventory easier.

Besides selling jewelry on eBay, I also sold used books. I had a friend who had a very successful business, buying goods at garage sales, then sellingEBay page them online. He taught me some of his book-selling secrets.

Garage sales in Kodiak were every Saturday. I’d clip the ads the night before, arrange them in the order in which I wanted to visit them, and head out. Nine times out of 10, I’d arrive at the sale and get in line to wait for the door to open, either right in front of my friend or right behind him.

We were almost always the first ones in line. Following us would be a lot of short Philippino people. Talk about standing out in a crowd!

Competition between the two of us was fierce, but we both somehow seemed to end up with treasures. My friend had the added advantage of knowing antiques. His mother had been in the antique business for at least 30 years, and taught her son her secrets. He’d sometimes find great items to sell.

The descriptions for books on eBay are sometimes easy, as they often have a written description of the book you want to sell. Here is one of the things my friend taught me: If you want to know the current value of an old book, go to this site and look it up: www.addall.com. Fill out their form to find what your book is currently selling for. Then you have some basis for deciding on a price.

When you send your book to a buyer, wrap it tightly first in a clear wrap like Saran Wrap, then put it in a padded mailer. The wrap will help keep the book from being damaged or from getting bent pages. Then send it media mail. Make sure your buyer knows the item is being sent media, as it can take a while to reach its destination.

Here’s one of the things you can do that will help you discover if a similar item has been sold on eBay and what it sold for. Go to the “completed items” spot on the left-hand side of the page showing the listings, enter the name of your item, and do a search. If one of them has sold on eBay before, you will learn what price it brought.

EBay provides a great way to pare down extra baggage in your house. We accumulate so much, and often do not use many things that we have. If this is the case, we might as well turn some of these items into cash. EBay gives you a way to do so.

Freelancingfreelancer.com logo

You can find freelancing jobs online which allow you to use various skills you might have. For example, if you are a writer, you can find assorted writing jobs. You will also find jobs in many categories, and, depending on your skills, you might find something that is a perfect fit.

Check out these sources:

1. Fiverr

green circle; fiverr logoThis company provides freelance services of many kinds. Work categories offered are: graphics and design, digital marketing, writing and translation, video and animation, music and audio, programming and tech, business, lifestyle, and gaming. If your expertise fits in one of these categories, see what is available.

This company says you can find the perfect freelance services for your business, so if you need to hire someone to work for you, this is a resource to do so.

2. Upwork

two computers; two figures reaching out and shaking handsIf you are seeking a worker, Upwork claims they will match you to top talent in minutes through their global network of skilled freelancers and professional agencies. To find work with this company, complete a profile and Upwork will highlight ideal jobs. You can also search projects and respond to client invitations.

Some main categories include: web, mobile, and software development, design and creative, writing, sales and marketing, data science and analytic, and engineering and architecture.

3. Freelancer.com

freelancer.com logoYou can find just about any job you can imagine on this site, from delivery to website development. Complete a profile listing your skills. You can find a small job, large job, or anything in between.

After you complete your profile, listing your skills and expertise, you must upload a professional profile photo. You browse jobs that fit your skills and price, write your best bid, and get ready to work if hired. Amount of earnings are agreed upon in advance.

Surveys

This method will allow you to earn money or gifts online. It is not a way to get rich, but might add a little bit of money to line your pockets. Here are some companies you can try:

1. Swagbucks (swagbucks.com)

swagbucks sb logoSwagbucks says: “We reward our members with gift cards and cash for the everyday things they already do online.”

If you shop online, you can get cash back at over 1500 retailers. You can answer surveys, share your opinions and get gift cards. You can also get these cards by watching entertaining videos. They offer some additional features as well.

2. Survey Bee (surveybee.net)

Join for free. You will receive surveys in your inbox, or offers to test products. When you complete a survey, you will get cash or gift cards.

3. Inbox Dollars (inboxdollars.com)

Anbox dollars adWith this company, you can make money by taking online surveys or watching videos. You can get paid to read emails. There are other options as well. This company has an A+ rating with the Better Business Bureau.

4. Surveys On The Go (surveysonthego.com)

This is a mobile market research tool that pays users for their opinions about various topics and issues. You pick the categories you like. Download the app and sign up, and you will be notified when a survey is available. Once you reach $10.00, you can cash out with your PayPal account.

5. Google Opinion Rewards (surveys.google.com/google-opinion-rewards)

blue circle; white cup with blue star, centerDownload the app, then answer quick surveys in your spare time. Topics are quite varied; surveys are quick (you could answer while standing in line somewhere.) You will get a wide variety of topics to choose from.

ECommerce

Perhaps you would like your own online store, separate from eBay, where you can sell anymonopol-e-commerce illustration number of items, including new things. Perhaps you carry a line of goods you’d like to sell online, or perhaps you make your own original creations. These items could go in an online store.

I mentioned Wealthy Affiliate when discussing affiliate marketing. Wealthy Affiliate websites are versatile, and can be easily used to set up an online store. The training modules at Wealthy Affiliate give full instructions for starting your ecommerce venture.

Another platform you can use is Shopify. It helps you get a website up and running to be used for a storefront. Instructions are easy and training is available. If you don’t want to build your own website from scratch or learn essential SEO, Shopify is an easy solution. They will build the structure for you.

I used to have an ecommerce site. It was called peddlerspackgifts, and on it I featured jewelry and other gifts that I sold in my business, The Peddler’s Pack. A professional photographer did my pictures and I had a webmaster who set up the site and added new items for me.

If I were to start another such platform, this time I could do it all myself because of all I’ve learned in Wealthy Affiliate. In fact, since I am a premium member, I have the resources I need already, as I can start up to 50 websites if I choose. So, naturally, I’d build it through Wealthy Affiliate, whose websites are built on the WordPress platform.

Find your road to success here

I am going to add two more suggestions that could work for you. Be aware that they are more complicated. However, they are methods I have used in the past to create additional revenue.

Learn The Stock Market

This one has a huge learning curve. I was involved with the stock market for three years, and stpck market bull and bearlearned a great deal. However, I feel like I just scratched the surface.

I did make quite a bit of money, but it was due to fortuitous circumstances. I got started just as pot stocks were starting to get popular. I invested in several.

Recently, I decided to cash out of the stock market. During my three-year involvement, I made about $10,000. Let me repeat: This is not a way to make a bunch of money quickly. I was lucky to do as well as I did after three years.

If you can find a teacher who has already learned the ins and outs of the market, you would find it helpful. If you do get involved in this volatile form of money-making, move slowly and learn as much as you can as you go along. It is not an easy way to make bucks, and it will take a substantial cash investment.

However, it is fascinating. If you study the market and move slowly, you might like your results.

MLM (Multi-Level Marketing) Companies

I know this one automatically raises a red flag for many of you. However, I was involved in aLogo for Nikken MLM company for ten years, and stayed with it for that long because I made money.

I have a radical idea to share, and if you like it, you are welcome to try it. I belonged to a company called Nikken, which started out selling just magnetic shoe inserts, and over the years have expanded into all sorts of other products in the health field.

Now, maybe this idea is crazy, but I think it would work. If you joined Nikken, learned the information about the company, and then chose just one product to focus on, I think you could do well. I will suggest two different products, and I believe either one would work.

I have been thinking about this idea, and will tell you up front why it would be difficult to carry out. When you first join Nikken, you make a pittance for your sales. The percentage you earn goes up each time you move up in rank. One nice thing about Nikken is that once you reach a rank, you have it forever, as long as you are a member. You don’t have to requalify.

To move up in rank, you need sales volume. Unless you are a selling whiz, you need help to advance. So, you sponsor other people under you. They become your “downline.” Then, your volume includes what you make and what they make. When your overall volume is high enough, you move up in rank.

Now, you can qualify to move up just through your own sales, but you would have to sell a lot. Therefore, unless you are extremely lucky and come across some folks who want to join without your having to pounding the payment to find them, you will find it difficult to move up.

If you sell magsteps to people who become so intrigued by the products that they decide to buy a couple of mattresses and some bedding, then you might move up quickly. Look for something miraculous.

That means that this idea is not an easy one to implement. However, it gives me an excuse to tell my magstep story. Read on.

The first product I would recommend is their magsteps. ‘Way back in the early days of Nikken, the magsteps were their only product. The owner of the company went door to door selling these inserts, and that’s how he got started. Now the company is huge.

The magsteps are pretty easy to sell. Putting them in your shoes allows the magnetic energy to flow through your entire body, easing discomfort and bringing health benefits. There is a magstep “strength test” that we are taught that is quite impressive, and will help in selling them. Here is the procedure:

You tell the person to stand facing you with arms outstretched. You tell them that you are going to push down on their arms and you want them to resist as much as possible when you push. Once they are ready, you push down on their outstretched arms with your hands. Invariably, you will be able to press the arms down.

Then you have them stand on the magsteps, and you repeat the test in the same manner. Their strength has increased tremendously. Maybe you will be able to push those arms down as before if you use much more force, but chances are you can’t do it.

After the test, most people want a pair for their shoes.

A friend put this demonstration to a great test one time. I will not give names. We were driving across Canada…three of us, all Nikken distributors, headed for a Nikken event. The land was wide open and the road was deserted, so my friend’s foot got a bit heavy on the gas pedal.

For this story, it is important to know that he was an Alaskan Native.

A Canadian policeman came roaring up behind us, lights on, and when we pulled over, he got out and came to our car. We knew when we saw him that he was from a Canadian Native group, though I don’t remember his background. Our Native driver noticed, too, and while getting out his license, started a conversation, finding out the policeman’s background.

Thus, they established a rapport. Somehow, my friend managed to turn the conversation to Nikken and magnetics. He told the trooper he wanted to get out of the car and show him something.

He took out a pair of magsteps, and right there on the highway, did the strength test on the cop. The guy was blown away. “I want a pair of those,” he said. “Where can I get them?”

“You can have this pair,” said my friend.

“Well, thank you,” said the cop, and tore up the ticket.

We had heard that Canadian speeding violations would cost you a bundle, so we undoubtedly saved quite a bit of money, thanks to my friend’s quick thinking.

Nikken signThe other single product from Nikken that I feel you could promote successfully are their vitamins. Nikken is one of a handful of companies in the entire world that makes pharmaceutical grade vitamins. Therefore, you know you are getting the correct ingredients in the exact quantity listed, so these vitamins are of excellent quality.

They offer a men’s and women’s formula, which is helpful. They also offer an autoship program. Now, everyone needs a multi-vitamin, so if you get a few people started on the vitamins and then get them to join the autoship program, you will make something from their vitamin purchase every month they remain on autoship.

If you are interested in Nikken, you can join from their website, www.nikken.com. I must say, I am rather sorry I am not still a distributor. Besides Nikken, there are excellent products in other MLM companies, so if you have a favorite, perhaps you could promote that product. Pick something you find of value, and sell just that one thing.

These are ways I have used to generate multiple streams of income. I hope some of them might be helpful to you and that you have success with them. If you have tried any of these methods and would like to tell us your results, that would be very helpful. Just leave a comment below this post. We would love to have your input.

I do urge you to check out my company, Wealthy Affiliate, as I believe the affiliate marketing idea will continue to grow. With this business model, your marketplace is the world. You will be a hard act to follow — you have an international stage, and you build your website exactly the way you want it to appeal to the audience of your choice.

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4 Replies to “7 Ways To Generate Multiple Streams Of Income

  1. Hi Fran.

    Thank you so much for your precious post which was about 7 Ways To Generate Multiple Streams Of Income. I think this is a very helpful post to all of us specially who are working online and interested to do online job. In your post there is so many information to learn and decide which way is the best to earning money. I am working with wealthy affiliate about three months and it just changed my life. So, I think WA is a best option from the ways you have mentioned. I have so many information about ECommerce, EBay and so on by reading your post that I never knew before.

    Thank you so much for sharing this post and I will definitely share it.

    • Yes, many of us are looking for a way to make extra revenue.  I am so glad I found Wealthy Affiliate.  However, it is good to have alternatives in place as well, until your affiliate site starts pulling in lots of cash.  

      Meanwhile, be reassured that you have found the best option available, in my eyes.  I wish you much success in your Wealthy Affiliate journey.

  2. Every of the ways listed above is an area that is capable of generating substantial amount of money over time and they are lucrative. It is good not to limit one’s scope to only a means of generating income. Diversification is integral to generating income in order to become wealthy. I know about affiliate marketing, surveys and freelance writing and they have all generated income for me at one time at least but the other options listed here too seems cool and worthy of being given a trial. Thanks

    • Thank you for commenting.  It is a great idea to have more than one way to bring in income.  Diversifying is a good thing, if you can find a good way to fit it into your business life.  It is not popular these days to trade time for money,though most folks still make their living that way.  If we can explore new territory and find ways to add a new income stream we would be wise to do so.

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