Business Ideas Is it good to have multiple streams of income

[Deleted member 13140]

So what do I mean by multiple streams of income, its actually quite simple, having different sources of earning money.
I know some of us might actually think it's not a good idea to have one stream of income but that's really not true.

It's difficult to have multiple streams of income If you have an online business, reason? It will be difficult for you to send traffic to all of them at a time, it's gonna die off eventually. One of them will slowly become irrelevant.

I know some Internet Marketers who just have one stream of active income.. don't get me wrong it's good to have more than one way to make money online, but can't it over time become stressful, you'll be actively nurturing leads almost everyday.

If you aren't putting out content on social media you're putting out content on your blog, or you're replying emails of customers wanting to buy your course. It can reay quickly become overwhelming. But having just one stream, that is high ticket could be it, because all you have to do is out out content. on YouTube (for example)

 

[Jasmine]

Yes, it is very good to have multiple source of income. However, if you re already in a full time job or a business that eats up most of your time, it quite impossible to build multiple streams of income. Having said that if you have money to invest, you might easily create more income sources.

 

[Mataracy]

It is a good thing to have multiple streams of income if one just want to really make it in life some times. Some people had found themselves in problem mainly because they had really relied on just one job .Are they been they had more than one channel where income do comes in would have been better.

 

[Blake986]

Great post! Well I am in a position to make multiple income streams together, using one funnel. This is working for 10K people right now, and they are making sales on a daily basis, including myself where I made my first $1000 dollars. Multiple Income Streams can work when you add them all in an automated system that is already working. If you are interested send me a PM and I will share you the details.

 

[Good luck]

Having multiple streams of income is the best way one can survive in a bad economy where human resources are quite limited.You need to have something that will always keep you going and sustain you when there is recession or when your salary is not flowing as expected.One job earning can not help in a country that is not really thriving economically

 

[Mika]

I have multiple sources of income. I have invested in the share market and cryptocurrencies. I earn from my website, earning sites as well as from freelancing. I am also thinking about starting an online store so that I can maximize my earnings. Having a multiple sources of income s very good

 

[Skysaint]

I do believe in diversity and that's what is needed in the society today for those who actually want to make it big, you need to explore other means of earning money; that's as many as you can. There is no point being stuck earning from only one source while you can actually diversify your earning methods to earn more money from it.

 

[chicnthin]

Having a multiple source of income is surely the best. At this point we will never know what's going to happen in the future. With the recent pandemic, a lot of companies has shut down, meaning, a lot of employees lost their jobs. It's horrible but most of them if not all are probably only dependent on that job.

 

[Wisdom01]

It's actually good to have multiple income source , because if one source don't actually turn out well for you ,you would move to another form of income source ,or if one have been blocked by the government policies ,you would have other options to look into and earn I think

 

[Mandy96]

As long as you could handle all the streams making income for you, I do not see how that could be a problem. Besides I do not think that is a crime anywhere in the world. Although this might require your attention and double effort and what I meant to say by that is that you will have to work as twice as hard than a normal business that only runs a single establishment. If you are not ready and capable to handle this, you might end up losing all the firms. Because you have to be able to keep track of your businesses records

 

[Wisdom01]

Having a multiple source of income is surely the best. At this point we will never know what's going to happen in the future. With the recent pandemic, a lot of companies has shut down, meaning, a lot of employees lost their jobs. It's horrible but most of them if not all are probably only dependent on that job.

Yeah I accept what you just said , because having multiple amount of money is not bad ,if you can handle them more ,then I actually see no issue in there ,just better management is needed

 

[Setho]

It is of your own advantage that you should try to always get multiple streams of income. This is because you might fail at a particular one for some time and then you can rely on the others before you can get back up on your feet.

 

[Sherman198]

When you have multiple and different streams of income you will be comfortable to some certain level cos you would have something to fall back on. The way to have multiple source of income is have different skills to sell online. When you have skills to sell online, you will have several ways to earn.

 

[Sotherefore]

Yes to me I believe it as the best as long as you will not be stressed out during the process of having more than one source of income, in fact I advise people to combine online business and online business together .since it is possible for you to work online on spare time you can use the available time to do some business offline, then maybe in the evening you can decide to engage in your online business.. when thinking of combining all this together the most important thing is the ability for you to work on spare time..

 

[Setho]

When you have multiple and different streams of income you will be comfortable to some certain level cos you would have something to fall back on. The way to have multiple source of income is have different skills to sell online. When you have skills to sell online, you will have several ways to earn.

This is actually very true. You can never rule out the possibility of one of your business is failing and whenever something like this happens it is only right that you go back to your other sources of income before you can pull it back up.