Do You Have Multiple Streams of Income?
One of my favorite phrases ever coined is 'multiple streams of income.
' Yes, money coming in from more than one source? Just imagine the possibilities! The financial freedom! MSI doesn't mean working 100 hours a week in multiple jobs or positions.
It simply entails refurbishing a product of service so you can sell it in different ways.
One example is setting up teleconferenced workshops (1stMSI) and editing them into a series of podcasts for downloads (2ndMSI).
Then packaging the series together into '6 Steps to...
' available for purchase (3rd MSI).
These downloads and CDs are the quintessential MSI tool as it is passive income- money you make without doing a thing (well, after you create, edit and market the podcasts).
Some MSI ideas: • Have a great inspirational blog? Create an audio of it for purchase and package it as 'Random Thoughts for Your Rushing' for the morning or evening drive to/from work.
• Do you teach meditation? Share a 1 minute meditation on your website with the option to purchase a longer track.
• Do you sell a product that comes with detailed written instructions? Create a video (available for inexpensive download) that walks the buyer through the steps.
• Are you a coach? Offer weekly online or telechats that allow coaching and group support.
• Do you teach something? Create webinars that walk people through creating or doing something.
The only limits in MSI are your imagination and technological skills! And if you don't have either, then ask someone.
Your clients and network are great assets in helping you problem solve and discover the untapped potential.
' Yes, money coming in from more than one source? Just imagine the possibilities! The financial freedom! MSI doesn't mean working 100 hours a week in multiple jobs or positions.
It simply entails refurbishing a product of service so you can sell it in different ways.
One example is setting up teleconferenced workshops (1stMSI) and editing them into a series of podcasts for downloads (2ndMSI).
Then packaging the series together into '6 Steps to...
' available for purchase (3rd MSI).
These downloads and CDs are the quintessential MSI tool as it is passive income- money you make without doing a thing (well, after you create, edit and market the podcasts).
Some MSI ideas: • Have a great inspirational blog? Create an audio of it for purchase and package it as 'Random Thoughts for Your Rushing' for the morning or evening drive to/from work.
• Do you teach meditation? Share a 1 minute meditation on your website with the option to purchase a longer track.
• Do you sell a product that comes with detailed written instructions? Create a video (available for inexpensive download) that walks the buyer through the steps.
• Are you a coach? Offer weekly online or telechats that allow coaching and group support.
• Do you teach something? Create webinars that walk people through creating or doing something.
The only limits in MSI are your imagination and technological skills! And if you don't have either, then ask someone.
Your clients and network are great assets in helping you problem solve and discover the untapped potential.
Source...