Two Strategies For Linking Different Income Streams Together.
In the world of Entrepreneurship having multiple streams of income is the goal. That way if one income stream runs into trouble (or drys up completely) you still have other income streams to work with. But having multiple income streams can present challenges as well.
One challenge is integration. How can you take multiple income streams and integrate them so that they work together? Are there ways in which you can take 10 different income streams and promote them as a whole? Actually there are and I will share with you two different strategies which anyone can use to combine different income streams into a unified whole. And I will also share how I am using these strategies myself.
Strategy One: Build Your Own Website.
This may not seem to be immediately obvious, but having your own piece of real estate on the internet is a powerful thing for so many reasons.
The first reason is that having your own business website gives you your own online presence that is independent of the major social media outlets. This way if Facebook decides to ban you for whatever reason or if Twitter should suddenly go the way of MySpace, you still have an online presence that the social media giants cannot control or squash. This is important in and of itself.
The second reason for having your own business website is that it gives you the perfect platform on which you can discuss all of your related business ventures and promote them together as a whole rather than as just separate parts. And this is the focus I will elaborate on here.
Working this strategy takes creativity (as well as a website) but once you start getting into it, this creation process can turn into a pure joy rather than a dreary job. So, let’s get started in working through the steps.
Step One: Getting Your Own Website.
There are multiple ways you can get your own website up and running. The two easiest ways that I have found involve working with Blogger or a lesser known site called Wealthy Affiliate.
Blogger gives you the ability to build multiple websites (blogs) which you can use free of charge. My first several blogs were created using Blogger and it was enough to get me started in online marketing.
Wealthy Affiliate is another good option for many reasons. First WA has both free and paid memberships, and the Free Membership level gives you your first two business websites free. What sets WA apart from Blogger is that they also give you lessons in how to create your first website. Free members enjoy 20 free lessons teaching you how to get your first websites up and running and how to become a better online entrepreneur. Paid members of WA get the ability to create up to 50 business websites (25 free and 25 paid private domains) plus you get all the training courses, tutorials and weekly live trainings that the program has to offer. In addition you get many other tools that will help you become a better online business person. So, whether you want to go as a Free Member or Paid, Wealthy Affiliate has got you covered.
Step Two: Add Content To Your Website.
Once you get your first website up and running, the next step is in adding content. Ideally your content should be GREAT, but if you suck at writing, don’t worry. Shoot for adding reasonably good content and work your way up to GREAT later. The important thing is just getting started; you can always fine tune things later.
Content for your site should be more than just promotional blurbs for your businesses and opportunities. This is where many newbie marketers fall down, myself included. People don’t want to be reading a series of pure ads. What they want is to read engaging relevant content discussing problems and solutions of importance to them. So do not think of writing articles that are purely ads for your business opportunities. Instead, think in terms of “infomercials” and give content that your target audience is going to find valuable. You can talk about your business opportunity (as I already have in mentioning Wealthy Affiliate) but do not dwell exclusively on it. Add value that people can enjoy whether they take you up on your business offers or not. Overtime you will attract a readership that will eventually come to know, like and trust you, and that is when the magic can begin to happen.
Step Three: Add Information About Your Businesses.
Next, start to add targeted pieces about your businesses. Write honest reviews and make sure these business reviews are clearly visible in your main menu. You can also place small ads for your various businesses in the sidebar of your site. Try not to post too many ads. Instead focus on a few of your main businesses. You can always change these ads up from month to month or quarter to quarter.
Another way to be adding information about your businesses is by including them as mentions in the articles that you write. One way I do this is by writing an informative article about a problem people may be having along with possible solutions. Then, if I have a product or service that is a potential solution to that problem, I mention that at key points in the article. I try not to make the entire article about my product or service (after all the point is in giving the reader VALUE), but I do make mention of it and provide a link to my sales page where appropriate.
This is a strategy that can generate exposure to a number of your businesses. As people search for solutions to problems they are having, they might find themselves reading different articles about your different businesses or services. And, if they find your business site interesting reading, they may very well become regular readers or subscribers and glean more and more information about your various income streams as time goes on. This is when your business site can not only be an integration point for all of your various income streams, but can also become a lead and sales generating tool as well. It takes time to get the site built up. But, once you get the knack for it, it can pay off generously!
A Word On Free And Paid Domains
Some people may wonder about the difference between having a free domain name and a paid domain name. The main difference I see is in how professional it looks.
A free domain will look clunky and not very professional. It will look something like www.yournamehere.blogger.com or www.yournamehere.siterubix.com. And, while it can be made to work for a starter business site that you are creating on the cheap, it makes your business look cheap and tells people you have not yet reached that level of professionalism where you are able to own your own domain. But, if funds are tight, it is a definite starting point.
A paid domain will look something like www.yournamehere.com. It’s shorter, more professional looking and tells the world you have made that leap from cheap entrepreneur to entrepreneur full class. It also shows you have a greater level of commitment to your business overall.
The cost of paid domains can be very reasonable ranging from $13 to $20 per year per domain. They can also be expensive as heck, so be careful.
In the expensive as heck category there are certain website builders which will give you your own domain name plus a drag and drop builder for $23 per month per domain, but I find this way too expensive for my budget. I had one such service a few years ago and I was paying over $800 per year for only 3 domains. Ouch!
Wealthy Affiliate, on the other hand, offers it’s paid domains for around $13.99 per year per paid domain to Premium Members of the program, and they teach you all the steps in building your own website (no expensive drag and drop builder needed). The cost of Premium Membership is only $49 per month which gives you everything WA has to offer along with the ability to create up to 50 online businesses. Of course you can also be a Free Member of Wealthy Affiliate and get 2 free domains (the clunky ones) and 20 free lessons teaching you how to build and use them. In my opinion, for the beginner, Wealthy Affiliate can not be beat either in the free or paid market categories.
There are numerous other domain providers out there, and I have worked with a few. If you know a lot about website design already, you can probably get a very good deal with GoDaddy and be happy. But, if you are needing help in learning more and more about website building, SEO, keyword research, finding your own business niche and just growing as an online entrepreneur in general, a program like Wealthy Affiliate can be very valuable to you for years to come.
So there we have an outline of strategy number one. On to part two!
Strategy Two: Using Traffic Exchanges (and other tools) To Cross Promote.
Another way to join your various businesses together is by using advertising and promotional tools that allow you to link your various businesses together during the promotion process. One traffic exchange I have used in this regard is Traffic Ad Bar.
Traffic Ad Bar allows you to promote up to 5 different websites on their platform free, and they also give you a profile page where you can showcase the businesses you are a part of. All you have to do is surf for clicks to get traffic to your sites. There are also paid levels of membership which allow you to promote more websites and these levels of paid membership also give you the ability to place banner ads as well.
There are two nice features about Traffic Ad Bar that I love. One is that they promote your ads both on and off their site. As your Traffic Ad Bar ads grow in popularity they can be seen on other websites that integrate the Ad Bar. And, as you begin to move up the “Level Ladder” your ads will also be emailed out to other members of the exchange. So, once you get your ads circulating, they will be seen both on Traffic Ad Bar, other related sites, and in the email boxes of other members.
A second feature I love is that when you post your business website on the exchange Traffic Ad Bar gives you a special link to your site that you can use on other traffic exchanges and safelist mailers which will not only drive traffic to your business site, but will also earn you points on Traffic Ad Bar allowing your ads to gain more power and move further up the level ladder. The more points you earn on a daily basis, the higher your ranking and more visibility you will get. Properly used, Traffic Ad Bar can become a viral means of promoting your various offers on a variety of platforms.
If you would like to check Traffic Ad Bar out and see if it’s for you, I recommend starting with a free membership and taking things from there. Surfing traffic exchanges can take a chunk of time out of your day, and may not be for everybody. So try the free membership before laying down your hard earned cash.
Other Cross Promotional Tools
There are also other tools you can use to cross promote your various offers. One is a series of sales funnel services put out by the Power Lead System. This service allows to to use a sales funnel to promote the system (which you can use either as a free or an affiliate member) and to also promote one other of your other businesses or opportunities. You can use these systems either free, cheap, or for a very reasonable price. We’ll go with the free offer first.
Free Lead System
The Free Lead System can be used free and is set up to generate leads and to cross promote one of your other businesses in the lead generation process. As a Free Lead System member you give the system out to other people who are interested in the home based business or opportunity markets. When people accept your offer they become either your lead or that of your sponsor. There is a pass up system where you keep every other lead you generate and give every other lead to your sponsor. When people join under you, you become their sponsor and you begin to accumulate every other lead that they generate. Give away a number of these systems, and your leads can really begin to grow.
The system also promotes one of your other businesses in two different ways. First, when people join the Free Lead System and go to their back office, they will see a clickable link which will take them directly to your recommended income stream. This will be the business of your own choice, and you can change it at any time. There is also a preset autoreponder campaign which will promote Power Lead System and your own business of choice. And again, your business of choice can be changed at any time.
Using this system you can generate leads and promote one of your primary income streams. But you cannot earn commissions from FLS. But for a onetime $7 upgrade you can continue to get leads, promote your primary business and be able to earn unlimited $6 commissions to generate another stream of income. This takes us to the “cheap” Lead Lightning level.
Lead Lightning cost’s only $7 and has a few clear benefits.
First, like the Free Lead System it allows you to get leads while also promoting your primary income stream. But unlike FLS Lead Lighting has no pass ups and allows you to keep every lead you generate. Plus, when people you refer to the Free Lead System decide to upgrade to the Lead Lightning Level, you will earn a $6 commission on every $7 sale. There is no monthly fee for Lead Lightning, so as far as business opportunities go, this one is extremely reasonable.
Power Lead System Gold and Beyond
The next level in this series of funnel systems is Power Lead System Gold Affiliate Membership. This level of membership gives you the ability to use the Free Lead System, Lead Lightning and to get many other tools available in Power Lead System along with an affiliate compensation plan that is second to none.
As a PLS Gold Member you get an autoresponder complete with done for you customizable email campaigns. Use these campaigns as is to sell Power Lead System products, or rewrite them as you see fit. You also get numerous done for you sales funnels that you can use to promote Free Lead System (plus your primary) Lead Lighting System (plus your primary) or the Power Lead System (plus your primary). These sales funnels can also be customized to sell anything else you would like. Use the system to create sales funnels for your other income streams and create email campaigns in your PLS autoresponder to promote these income streams as you see fit. The system includes complete training in how to get the most out of your system. You also get access to the PLS Gold Affiliate Compensation plan allowing you to earn $20 commissions and even a chance to earn monthly bonuses based on the sales of your downline. There are a lot of tools and opportunities here for the online marketer who is willing to go for it.
If you are interested in trying this angle out, I recommend you start with the Free Lead System and work your way up from there. These opportunities are not for everybody and results are not typical in any program. So try things out one step at a time before buying in at the next levels.
These two strategies are just a drop in the bucket as far as finding ways to integrate your various income streams. You can also create a business themed YouTube channel to cross promote many of your different income streams together. Promote your YouTube channel to gain interest in your various income streams. You can also use your YouTube videos to help fill out additional content on your own website and to add more value to your written posts. Whatever you choose to do in promoting your own income streams, always keep your eyes open to different ways of integrating your different businesses into one unified whole. As a home based business owner/entrepreneur you will find many opportunities out there. Avoid the tendency to think of them as separate individuals and find ways to promote them as one.
To Your Home Based Business Success,