Find Out How To Create Multiple Streams Of Income To Enable You To Become Financially Free
In order to become financially free and live life on your own terms then you need to be concentrating on creating multiple streams of income.
Specifically there are 3 multiple streams of income business models which will generate really healthy cashflow and high profit margins.
Better still if you can integrate all of them together then you have a winning formula for your online business.
Just to clarify that this works if you are an affilite selling other peoples products and services or if you have your own products and services.
So What Are The Multiple Streams Of Income I Am Talking About?
Residual Income – These are memberships or subscription fees where people pay an amount of money regularly on a monthly basis.
So think about what you pay monthly. It could be gym membership, satellite television or things like your mobile phone contract.
The companies who offer these services are guaranteed this money coming into their business as long as the subscriber keeps up the payments.
This income stream is easy to scale as you only have to concentrate on the marketing of your product or service once it has been set up.
Instant Money Products – These types of products are usually ranged between $100 – $400 and are often looked upon as impulse buys.
The great thing about having this incorporated into your business is that it keeps the cash flowing into your bank account. These could also be referred to as Mid Ticket products.
High Ticket Products – This is probably the most exciting element to have within your business. These are products that are priced at $1000 and above.
Yes you will make fewer sales of these per month but when they happen they give a serious injection of cash into your business.
So there are the 3 multiple streams of income you should have within your business but lets do some quick maths to see how these income streams could potentially give you a six figure income.
I must stress that this is for example purposes only and individual results will vary depending on how much work you put into your business.
Residual – If you had a $20 product and you managed to sell 200 over the next 12 months then that would generate $4000 a month recurring income.
Instant Money Products – If you had a $200 product and you managed to sell 20 a month then this would again generate $4000 a month.
High Ticket Products – This is for products starting at a $1000 price level. As I have said you will sell fewer of these but if you managed to sell just 4 a month then again the monthly income would be $4000.
Now if you add up the figures it would be a monthly income of $12,000 or $144,000 a year.
Now I realise that if you are starting out then you would not have this kind of product line in place but imagine if you could get access to a whole integrated suite of products and services which you could promote as an affiliate!
With the training and support you could potentially be creating these types of numbers per month if you do the work and take action.
The Six Figure Mentors offers all of these products and services which are ready for you to promote. They also have all the training, resources and digital business systems in place ready for you to use and leverage.
To find out more about the Six Figure Mentors click the link below and enter your email address to receive a 7 day video series which details all that I have mentioned and how you could create multiple streams of income.
CLICK HERE FOR MORE INFORMATION & TO RECEIVE THE VIDEO SERIES
So hopefully you can see that multiple streams of income is a way for you to potentially create a finacially free lifstyle so that you can live life on your own terms.
As always I wish youe well.
Pete Harris
Digital Marketer & Home Business Consultant
Six Figure Mentors Elite Member