How to Develop Multiple Revenue Streams

Stop wishing and do it!

How can you make more money? By developing multiple revenue streams. You can earn more money, have more fun and create the life you want.

Now, before you think this in an infomercial I'm trying to sell you some get-rich-quick scheme, let me assure you I'm not. Like most of you, I'm leery of things that seem too good to be true - because they usually are.

No, I'm not talking getting rich quick. I'm talking about how to add a few greenbacks to your bank account on a regular, sustainable way.

The multiple revenue stream concept isn't new - it just hasn't been adopted by everyone. But it should be. Simply put, you develop many small revenue streams. This way, if one of the revenue streams dries up, you still have other revenue streams that bring cash into your pocket.

How much time will it take? That's the beauty of the multiple revenue streams concept - you can devote as little or as much time as you want and/or able to give. Once your revenue streams are developed, you may find you have enough time to develop even more revenue streams. Besides - most of us waste time occasionally - why not use these spare moments to make some extra cash?

So how do you develop these revenue streams? Again, there's an innate beauty to the multiple revenue streams concept - you create revenue streams based upon your interests and talents. You can even develop revenue streams based on things you didn't even know you were interested in or were good at!

Where do I start? If you're interested in making money online, you should read Content Producer Tori's articles. She's a whiz at finding the stuff that works - and doesn't. She researches companies, provides the good and not-so-good about them, and allows her readers to make the final decision. Using Tori's information, I've been able to add a couple hundred bucks every month to my bottom line. (Thanks, Tori!)

What about off line? If you want to develop multiple revenue streams off line, there are plenty of opportunities. You can start your own lawn mowing business, write greeting cards, write novelty buttons and bumper stickers, break into advertising, clean houses, become a birthday clown, turn your garden into a money maker, make money commuting to work, and even make money by giving gifts! The possibilities really are endless!

How do you schedule it? It depends upon what you do and how much time you have. For the sake of argument, though, let's say you work 8 am to 5 pm Monday through Friday. Let's also say you have two kids involved in a two activities each. Let's also say that you belong to a civic club or are in a sports league. And, just to make things interesting, let's also say you're married and actually want to spend some time with your spouse. At first glance, it may not seem like you have any time to develop multiple revenue streams. But let's take a closer look at this hypothetical situation:

Monday to Friday: Write an article for Associated Content during lunch (let's be conservative and say that's worth $5) and another before you go to bed (another $5). Waiting for your children to get done with their activities, you write 10 greeting cards (with one selling for $100). Once home and making dinner, you call to get a new lawn mowing client, bringing your total to five (netting you $40).

Weekends: Hit garage sales and list your purchases on eBay (conservatively netting you $50 per week). Perform as a clown at a birthday party ($100 on the low side). Clean a house ($40).

How much time did that take? Not much. You did your writing in your spare time. You built and maintained your lawn mowing business while steaming your carrots. You performed your auction tasks with your spouse and/or children. The only "real" time away from your life was performing as a clown and cleaning a house. The rest of your time was spent with your family or on the job. You really haven't altered your schedule much at all.

How much have you made with these multiple revenue streams? Using the above figures let's look at your weekly totals. You've made $50 per week from Associated Content. You've potentially made $500 writing greeting cards. You're making $40 by dabbling in lawn care. You're making a very easy $50 on eBay. You've scored $100 as a clown and $40 cleaning a house. That's $780 extra every week - $40,560 extra per year! Without changing your schedule that much! And, even if you only make one greeting card sale per week, you're still making an extra $380 per week - or $19,760 per year!

You can do this. You don't need to be a genius to develop multiple revenue streams. You don't even need to even be that unique. All you need is to re-capture those lost minutes from your life and turn them into cash. You're not going to fall into instant wealth, but you will develop long-term income from doing what you enjoy.