Create New Income Streams

Posted on April 9, 2008
Filed Under Category00: Mindsets of Getting Rich |

When it comes to the “mindsets of getting rich,” you have to know how to invest wisely. Managing your money actively and wisely is important, but nothing beats having more money coming in for you in the first place.

Everybody can benefit from some thought about where their income comes from and how they could create another source of income.

It is a little like being a busker. Try busking in certain places, and when you can no longer get the results you’re looking for, pack up and move on. In the physical world, if an activity is proving unprofitable, you can pack up and go somewhere else to busk. However, in cyberworld, instead if having a go at it alone, you may want to duplicate yourself – i.e., “clone” yourself and carry on busking where you started and at the same time busk at a new place as well.

Let’s take a look at the super rich – Bill Gates, Robert Kiyosaki, Michael Dell and many others. They duplicate their systems, themselves, their materials, and their ideas so that they are being diversified and in the process, they unlock their prosperity. The rich usually have several money-making schemes working for them.

This is especially important for anyone who loves his or her work but where the work doesn’t pay well. What this person needs is another income stream to supplement the other cash source.

There are some ways to do this. First is to turn some surplus cash into assets that will work for you and bring in the income. I did that, and it has given me an additional cumulative 12% yearly return in the past 5 years.

Another way is to find other means of using your skills and expertises in more than one setting so you aren’t just swapping your labor for a paycheck in your day job. I travel a lot and I have learnt Internet Marketing techniques from some seminars, boot camps, and the World Internet Academy. Being a travelling sales man, I have a need for an effective communication tool. Under my Internet Marketing teacher’s recommendation, I joined an MLM program whose product is about sending video messages instead of text emails.
Because I use this product for my work, I have also been doing some good MLM business with it. I started blogging a year ago, and since then have benefited from a small passive income from it.

Do some ‘sidelines’ that would not conflict with your day job. I have found Internet Marketing and MLM to be effective alternatives. What if there was a program that enabled you to learn and earn about Internet Marketing and offer you a leveraging money-making component as well? I just did that. I’m now a member of MyVideoTalk as well as the World Internet Academy. Both help me earn some side income while I keep and enjoy my day job.

I took up MyVideoTalk because it has helped me communicate better via the Internet. It’s so simple – I just speak into the mic while the webcam captures me in motion. I simply upload and send it. The other side will then receive my video-email and see and hear me while I talk. This improves communication a lot even without me traveling to my business contact’s location. This method is the closest thing to being there, having a face-to-face talk. Some of my friends received this video-talk email and joined in as well. A few more may come in, and I’ll soon have my monthly subscription paid for. Not bad. Now start making your own part-time passive income.

The World Internet Academy is another great discovery. I learnt my Internet Marketing skills here for a mere US$54 per month subscription. Best of all, I get it free now by introducing more people to subscribe and earn referrer fees. I make money from it and also help people earn their own passive income.

Yes, Internet Marketing + Network Marketing is the best combination for a second or multiple-income stream source today. And I have that terrific combination under my belt now.