Home Business Building – How to Diversify as a Means to an End

There are many different ways to earn income from home online. Many people who have worked in the Internet marketing industry believe ‘Residual Income’ is the smartest strategy to use because for one thing it is based on the theory that it is wise that when you make a sale once that sale represents a monthly income going forward. With affiliate programs, when someone joins a program in your down-line you are paid a commission for the initial referral. Then for as long as they pay their monthly membership fee, you get a percentage of that fee as a commission. This is a primary example of what is called ‘residual income’.

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There is also OTO or ‘One Time Only’ income where you would be selling a product or a service one-time. You can be creative with this and offer special deals for additional products *(and income) at the point of sale. For instance if you sold an electronic device like a smart phone and then at the end of the transaction (at the payment point) also had an offer for a related accessory like earphones.

Another reference to types of income you will see online is ‘Multiple Steams of Income’. This is where you have more than one source of income. This may be seen as a ‘portfolio’ of business opportunities. This is also a very smart concept to incorporate into your home business plan, because you are ‘hedging your bets’:(a) if one product is not doing well, another one might be doing great and will make up for any sparse income from product (a); and (b) some companies count on sales volume, so that while the commissions may be rather small, they assume you have volume that will make up for it.

For example, $5 is not much, but if you make 10 of those $5 sales, you have $50, which is a nice commission. If you want to get really excited extrapolate that 20 times for $100! That will tend to keep you motivated to work your head off to make a decent income you can live on eventually. Something very exciting about this way and it makes a perfect balance with the other more stable forms of income.

It can take some time before you have done sufficient advertising such that you begin to earn substantial income. It is very important for your mindset that you realize this is only normal. This can be hard, not just psychologically, but financially. You are spending money acquiring opportunities, and for advertising and marketing services, yet you are not seeing a return on your investment YET.

Smart again to structure your business in a way that you start with some programs that you can join for free or very inexpensively. You can even advertise using free and very inexpensive techniques. You can make a little money even at the same time you are building your home business online. Examples of possibly making decent money for free are programs like Clickbank.com and Amazon.com which are both free to join and earn commissions without much investment.

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