Sunday, June 8, 2014

You need more than one income source

A business means having more control.  You are the one that makes decisions and you are the one that is responsible.

Vendors will come and go.  You cannot rely on just one source of income.  A business owner has to be ready to deal with change.  What is the technology that you are using in your business?  Are you on the cutting edge or are you missing out because you are using old tech?  Business moves fast and you have to stay up to speed.

Affiliate marketing programs are available, but you cannot depend on them.  They might be active right now, but what happens if they decide to close up shop and discontinue the program?

Keep your options open when it comes to your business.  Just one customer or client means that you don't have multiple streams of income.  Streams of income can dry up sometimes and you need to be able to have more than one option.

The regular work can seem like it will never stop.  Don't fall into that trap.  What is going to be your passive income plan?  How can you work today and get paid over and over in the future?  It might be writing information or creating media.  Start thinking about how you can get future income.

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