Multiple Streams of Income
If you are not familiar with me, my name is Connie Ragen Green and I’ve been working exclusively on the Internet since 2006 as an online entrepreneur. During this time I’ve seen so many business models come and go. For example, article marketing was huge when I was first working on the Internet. Within a few years its relevance began to dwindle, and today no one considers this strategy to be a viable one. So even though I wrote, published, and distributed more than two thousand articles during my first few years online, this writing no longer serves to build my business.
The difference between me and many other entrepreneurs is that I did not allow this shift in the industry to faze me. Instead, I never skipped a beat as I transitioned into authorship, a model that has brought me much greater success than writing short articles ever could have done. You see, it’s all about how you approach a situation and deal with it that can determine the level of success you will be able to achieve. Instead of choosing to bury my head in the sand as article marketing plummeted, or giving up altogether because things were changing so rapidly, I chose to evaluate my writing and write the first of now more than a dozen books that have opened doors and dramatically shifted other people’s perception of me. Whenever one door closes, many new doors open up.
And lest you think that I am in possession of some super powers or have talents and abilities not available to the average person, you should know that is not the case. I am of average intelligence, do not have a background in business, and continue to type with my two index fingers! For twenty years prior to coming online I worked as a classroom teacher, while working simultaneously as a residential real estate appraiser and listing broker. If I can do this, you can do it as well.
Also, I am a multiple time cancer survivor, suffered a serious injury while teaching, and continue to have a variety of aches and pains related to my health issues. I’ve allowed none of these issues to affect my online business and I travel regularly for business and pleasure. During the summer of 2016 I took a six thousand mile road trip across the United States to spend time with a dozen of my clients and mentees in various cities. Even though the driving was a challenge at times, I have already committed to making a similar journey during the summer of 2017.
At the present time I enjoy eight separate and multiple streams of income online. I’d like to introduce you to each one of these individually so that you may decide for yourself which ones appeal most to you. Also, I recommend only choosing one or two to begin with, and to monetize them before moving on to yet another business model. The gold is in the perseverance, consistency, and effort you put into your business. In no particular order, here are the eight streams of online income that you may wish to consider for your own internet business…
Affiliate Marketing
Affiliate marketing was actually the first model that earned me income online ad this continues to be my favorite, especially of you are just starting out as an online entrepreneur. It was the spring of 2006 and I had been writing articles and blogging every single day for several months at that point in time. Although I had yet to earn any money, I still had faith that what I was doing was bringing me closer to my goal of online entrepreneurship.
Then one day I logged into my account at a site called ClickBank. I had been promoting several digital products from there, including one on dog training. On that day I saw that I had earned twenty-one dollars and sixty cents! I was ecstatic and knew that if even one person had made a purchase based on my recommendation, then others would as well over time if I kept up my efforts and learned more. Many more sales of this and other products followed and I was on my way.
Within a couple of years I had reached “Super Affiliate” status, meaning that product and course creators reached out to me when they wanted to launch new products. People who had been online for many years already, such as Marlon Sanders, Armand Morin, and Jim Edwards sought me out to find out what I thought about what they were doing. My simple approach proved valuable in determining what beginning online entrepreneurs most needed to be successful.
This model continues to account for about forty percent of my annual income. I teach an ongoing course called Really Simple Affiliate Marketing that may be of interest to you.
Small Business Marketing
Small business marketing kind of fell into my lap during my first year online. I had a family member who had lost his job and started a handyman service in his community. He was spending almost five hundred dollars a month on classified advertising in his local newspaper, as well as two magazine ads.
When I told him I’d like to set up a site for him and do some marketing with his keywords (his city plus the type of work he offered) he told me to go ahead. Within a month and a half he was able to cancel the paid advertising and instead paid me to continue with what I was doing. One huge difference was that a newspaper or magazine ad is only good until the next issue appears; online marketing lasts forever.
Soon I was marketing for a local dentist and an insurance agent and that’s when I realized I could get to six figures a year with this business model, all while honing the marketing and writing skills I needed in order to build my core business of online marketing for myself. I currently teach an online course on how to market for small business with my colleague Ron Tester.
Information Products
Digital, downloadable information products have been around for about twenty years now, yet it took me one full year before I created one of my own. It was confusing for me in that I wasn’t sure what I could offer to others that would be of value to them. I ended up putting together a four part training course on article marketing and blogging that I sold for ninety-seven dollars. Keep in mind that this course consisted of four one hour teleseminars and a study guide. So it was definitely low tech and simple to create.
Information products are now a billion dollar business and encompass trainings and information on almost any topic you can think of that people need information about for personal or business purposes. Think of eBooks, online courses, short reports, audio recordings, videos, webinars, and so much more as being the core of the digital information product world. More people than ever before are taking to the Internet to find the answers to their questions and the solutions to their problems. I teach a popular course called Really Simple Info Products that you may want to consider if this is a model you resonate with at this time.
Authorship/Publishing
It is said that more than eighty percent of the population wants to write and publish a book at any given time, yet fewer than five percent actually see it through to completion. When I wrote and published my first book – Huge Profits with a Tiny List – back in 2010 I was immediately catapulted to a new level in my business. Other people now perceived me to be an expert and an authority in my field and I was offered speaking engagements and other opportunities. It was so impactful that I almost immediately began my second book, and I have recently published my fourteenth book through my own publishing company, Hunter’s Moon.
Some people consider their books to be lead generators and marketing pieces, but I do not stop there with the value of being a published author. The people who find me through my books tend to be ones who are ready to take action and do the work necessary to achieve their dreams and goals, and that is exciting for me. Also, helping you to share your knowledge and expertise is quite rewarding. I teach an entire course on how to write your full length book and then create a business based on your topic at Write. Publish. Prosper. if this is attractive to you as a business model.
E-Commerce/Amazon
I added this as an income stream in the fall of 2013. Once again I faced a steep learning curve, but it has definitely been worth it. There are several different models available when you sell physical products online, including the private label model, retail arbitrage, and my favorite, wholesaling products to sell on the Internet.
During the 1999-2000 holiday season I had sold toys on eBay, and even though that model did not suit me at that time, it gave me an idea of what it was like to sell physical products to others. This business has come a long way since then, and now it is one that can be extremely rewarding and lucrative. Also, if you have a family member who is interested in helping you, this can be a way to start a family business. At this point in time two of my family members are involved, and two more will be coming aboard before the end of this year. Here are a couple of resources for you that I continue to use to learn more strategies and techniques:
Jessica Larrew runs her Amazon business from home with the help of her husband and young son – http://ConnieLoves.me/SellingFamily
Jim Cockrum has been selling physical products and teaching others how to do it for over ten years now, longer than anyone else teaching this business model – http://ConnieLoves.me/PAC
Online Courses/Trainings
My background is that of a classroom teacher, so when I discovered that I could teach people all over the world using teleseminars and webinars I was thrilled at the possibilities. Earlier I told you how I created my first information product as a four part teleseminar course with a Study Guide, and this was actually my first foray into the world of teaching an online course.
Anything you have knowledge about can be turned into an online training course, and as long as there are people who are interested in learning more about the topic you will be in an excellent position to help them. I use webinars to teach, record them, and then add them to a member’s area so that participants may watch and listen to them later on. I also like to include handouts, Study Guides, and other resources to make the training more complete.
Blogging/Niche Sites/Membership Sites
I’ve lumped three different types of online business models into one here, but with good reason. About two years after coming online the bright light finally came on in my mind; I could turn all of the blogs I had started during my first year on the Internet into niche sites that would continue to earn some income. When I started my first free membership site, that gave me the time to practice, enhance, and develop future programs that I could monetize.
When you have an idea for something that you want to pursue online, set up a simple WordPress site, add some content, and add a free membership site to see if it is viable as a paid business model. This is also an excellent way to bring your family members into the fold and allow them to explore the Internet for themselves. There are tens of thousands of niche sites to be found online, and yours can be one more that serves the people who are interested in that specific topic and searching for more information.
With some of these niche sites you will want to collect the names and email addresses of the people who are interested in your topic by adding an optin box to your blog and following up with them by email. Other times you will not do this and simply offer affiliate products within your blog posts and in the sidebar. The addition of a membership site makes it simple to contact the people who join at any time through the system’s internal email option. It’s completely up to you and you may always change your mind at a later time. The important thing here is to be consistent with your content creation and marketing.
Mentoring/Consulting
What I love most about mentoring entrepreneurs and consulting with corporations and non-profits is the ability to impact people outside of my sphere of influence and connection. Not everyone is cut out for this particular business model, so think long and hard about the implications of working so closely with others in this type of arrangement.
Within a couple of years I realized that I could only work successfully with twenty or fewer entrepreneurs at a time, so I made changes to my programs to account for that. I also can only work with about five corporate and non-profits at a time, so I implemented that strategy as well.
Typically you will have one or two calls each month with a client, as well as meeting with them face to face two or three times each year. I host my own live marketing events twice a year, as well as hosting intimate retreats several times a years, providing ample opportunities to connect with my people on a more regular basis. My group members have become part of my extended family, and I value their opinions when it comes to my business.
These are the eight streams of online income I wanted to share with you. Please stay connected with me, join my list if you aren’t on it already, and let me know how I may best serve you in your quest to become a successful online entrepreneur enjoying multiple streams of income.
