Why We Hear so Much About Multiple Streams of Income

by Terry Sparing

Published on this site: January 31st, 2006 - See more articles from this month

Let's face facts; nothing in this world is set in stone, except for death and taxes.

Businesses come and go. It is a fact that 80% of businesses will fail within 5 years of their start date. While it might appear that MLM and Affiliate Programs can help the small business over the hump by accelerating their growth and sales, the utilization of MLM and Affiliate Program structures cannot save financially unsound small businesses.

Now, don't get me wrong. I am not saying that MLM or Affiliate Structures are a bad thing, because they are not. There are multitudes of good companies that successfully utilize MLM and Affiliate Programs to grow their businesses and to help their sales people to earn a nice income. But the fact remains; a poor business plan will doom a company, no matter how many salespeople are working to promote its products and services.

If a new business is started utilizing a business plan that does not allow for adequate profits, then the implementation of a MLM or Affiliate Structure will surely hasten the demise of this new company.

A company that will lose money by itself will hemorrhage money if it has hundreds or thousands of people selling its products or services.

You should never invest all of your time, money and energy promoting the products or services of a single company. Even if you own the company, it is always best not to put all of your eggs into one basket.

When the sun goes down at the end of each day, one thing is certain. Businesses will fail. No matter what actions you take, you cannot change this outcome for businesses that you do not own.

Avoid this worst-case scenario, by learning more about Multiple Streams of Income at: http://www.ExerciseYourFreeWill.com

It is always good reasoning to investigate any company with which you want to become involved. Take the time to learn about the company and their business plan. Make sure that you will want to invest your time and resources to develop sales of their products and services.

Some Business Owners are Sharp Enough to Adapt and Change

Not every business is created equal. Some businesses are owned by individuals who are sharp enough to read the writing on the wall, to change and adapt their business as conditions merit them doing so.

Just like Ford and Chevrolet, when business owners see themselves drowning in a sea of red ink, they will implement changes to stem the tide of red ink.

Rather than to allow their businesses to go bankrupt, some business owners will make whatever changes are necessary to save their business.

They must decide whether they want to raise their prices or cut their expenses. Many business owners fear that raising their prices will be the very worst thing they can do for themselves.

So, many will opt to cut their expenses.

Many businesses will simply cut the commission rates earned by their salespeople. Some financially troubled companies that employ MLM and Affiliate sales teams will often just eliminate those divisions and convert their company to a direct sales force.

Everyday, companies find themselves facing new business realities. They take measures to adapt their business model. Whatever the business, whatever the situation they are facing, the company's management will always take care of their own needs first.

As part of a company's sales force, you are just a cog in the wheel. When a company manager takes the decision to cut expenses, he or she generally has little care or concern about your needs or the commitment you have given to their company. You are an expense, and when they are in the mindset of cutting expenses, you will be cut.

Companies are only concerned about their bottom line, and you should be concerned about your family's bottom line. Before you find your income on the cutting block, please investigate how you can take advantage of Multiple Streams of Income at: http://www.ExerciseYourFreeWill.com

If you take the time to properly investigate a company, you can avoid falling into these traps. If a company is in trouble, you are only inviting trouble to invest all of your resources into their success.

Multiple Streams of Income is Just Common Sense

When other people are in control of your earnings, then your financial survival is always at the whim these other people.

I will bet that many people who have lost their jobs at Ford and Chevrolet had convinced themselves that their future was set in stone. They had a good job and sweet pay rate, working for a great American company. They were exceptional employees who bent over backwards to ensure that their bosses would remain satisfied with their work. What could go wrong?

Now, they have learned that the corporate office decided to trim off some red ink by closing their plant. They are now out knocking on doors looking for work, alongside their bosses. If the plant was their only source of income, you can bet that these individuals are now sweating whether they will be able to pay their mortgage or not.

If people cannot trust in their positions at Ford and Chevrolet, how can you put all of your hopes and dreams into the single MLM or Affiliate Program you are promoting today?

The obvious answer is that you cannot and that you should not.

As a basic idea, you should select several programs that you are willing to invest your time and resources. For the sake of example, pick five programs that you believe in. And then, spend one day each week promoting each program you have selected.

By developing five streams of income, if one stream were to dry up, you would in theory only lose 20% of your revenue base. That is a lot easier to handle than facing the loss of 100% of your income.

If you would like someone to assist you in your drive to develop Multiple Streams of Income, I would be happy to help you. To learn more, please visit: http://www.ExerciseYourFreeWill.com

One Final Note and Reminder About Taking Care of Number One First

When I first began to develop my own multiple streams of income, I always directly promoted my affiliate links for the programs that I was involved.

Thinking on the reasons why I wanted multiple streams of income to start with, I realized that I was doing myself a great disservice by promoting an Affiliate URL. I would be kicking myself night and day if I spent a lot of time and resources to promote an Affiliate URL, only to find myself looking at another defunct MLM company or Affiliate Program three years from now.

At http://www.10-domains.com, I registered my own domain name for only $10 per year. I then found a company that offers Web Hosting services for less than $10 per month. As a result, for less than $130 a year, I can protect my own place in the existing marketplace, by promoting My Domain instead of an Affiliate URL.

If, for some reason, any of the programs I promote cease to exist, then I can simply change the information as it is presented on my own website. And, any advertising I create today for the purpose of promoting these programs can continue to deliver prospects to my revenue sources for years to come.

If you don't take care of you, who will?

My name is Terry Sparing. I specialize in helping others develop Multiple Steams of Income, for the purpose of protecting their financial future. If you would like a coach and a mentor to help you to realize your own financial dreams, then please visit my website http://www.ExerciseYourFreeWill.com for more information. "Success Can Be Found In The Company You Keep."