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How to Have a Portfolio Career With Multiple Streams of Income

Juggling Plates – How to Have a Portfolio Career With Multiple Streams of Income
By [http://ezinearticles.com/?expert=Ann_Ronan,_Ph.D.]Ann Ronan, Ph.D.

Many of you know that I live a spiritually focused life. And one of my beliefs is that there is something bigger than us -we can call it God, or The Force or whatever. I believe we are created from that invisible energy field and that we are part of it -co-creators. Imagine that God is the ocean and we are each unique drops in that ocean -we’re not God -and yet we have all the power we need to create lives that uniquely suit us!

I know that this Force that works through me and for me, is unlimited in energy, creativity and abundance of all good things. And so, one of my mantras is “God is my source and supply bringing in income from many streams.” I love the fact that I don’t depend on any one source of income and I know that no person, place or thing is my source.

It makes sense to diversify your interests and do some things for money, some because they interest you and some just for fun. Having multiple streams of income gives you an edge when cycles change – one income stream may start going flat while another is building up. Having several projects is an insurance policy to staying afloat.

How do you get started in creating multiple streams of income? Well here are some specific, powerful steps to get you started.

It is easier to earn $1,000 a month from ten little businesses than it is to earn $10,000 a month from one big one. Not that the big ones don’t happen -they do! AND, you can’t start them all at once. This is a big mistake that many of my clients make…they’re afraid to focus on just one thing…thinking they’re giving up their other passions…you’re not!

Take your first idea, either one that is easy for you to make money at right away or, if you’re not pressed for money, the one that gets you most “juiced.” Stay with that one idea until it develops momentum and is bringing in money, then on to the next idea and so on.

Some people have one passion that spins off into several profit centers. For example, a passion for herbs could lead to a bed and breakfast located on an herb farm, lectures on herbs, writing books on gardening herbs, selling articles on herbs, and a mail order catalog to sell herbs.

Others, like myself, have several completely different income streams. My current ones are a Success Circle Coaching Program for women entrepreneurs, an entrepreneur information product, grant writing consulting projects, a 30 day Jump Start Your Grant Writing Consulting Business Coaching Club, a how to do grant writing information product, and a Virtual Center for Spiritual Living ( [http://www.revann.com]www.revann.com)

Does the thought of this make your head spin? Take it slow. Look at your long-range goals and work backwards breaking your big goals into baby steps -this is the key. A 2nd secret to success is being consistent and persistent.

Suppose you want to create five profit centers each bringing in $10,000 and you want to accomplish that within the next five years. You have two ideas you can get started with, one that is half baked and no idea yet what the other two will be.

You’re first step is to create two $10,000 a year revenue sources. That breaks down to each bringing in $800 a month -with a weekly target of $200 each. That’s doable!

Eventually your goal is to have some of those profit centers bringing you money while you sleep! I’ve learned a lot in my coaching programs about information marketing and now I have two information products that bring in money (ch-ching) into my email box at all hours -even when I’m on vacation.

This is called leveraging your knowledge. A big topic that I’ll share more about in upcoming issues.

Ann delivers smart, simple ways for people to acknowledge what they love to do and do more of it. Her articles, products, and books have motivated and inspired readers in numerous print and online publications. She regularly leads coaching programs, tele-seminars and live retreats, bringing the message to audiences internationally that living a passion-based life will bring prosperity and success.
For a fr^ee Audio Seminar “Ignite Your Entrepreneurial Spirit: 7 Easy Steps to Success” register at http://www.authenticlifeinstitute.com

Article Source: http://EzineArticles.com/?expert=Ann_Ronan,_Ph.D. http://EzineArticles.com/?Juggling-Plates—How-to-Have-a-Portfolio-Career-With-Multiple-Streams-of-Income&id=2098191

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Make Money Online With Niche Marketing

Niche marketing is one of the most powerful marketing forms existent on the internet today. To be able to take advantage of it, it is important to understand what niche marketing is.

Niche is nothing but people who are interested in the same thing. Some may be interested in Golf while some others in Fly-fishing. Here Golf and Fly-fishing are niches. Niche marketing is a conception of getting involved in an area of marketing that interests you and making money from it. It also means targeting and attracting those groups of people that belong to your niche and making money selling them products. The idea is to find a niche that isn???t too populated. It takes a great deal of research to be able to find the market that has a lot of demand and yet less competition.

Finding a niche
First thing that needs to be done is finding a product. Before deciding upon a product or service that interests you, a ton of research needs to be done. There are so many niches on the internet, that it is certainly no mean task to find a good niche. So, picking a niche with little competition is the hardest part, but once you find it, things get easier.

Keyword research
After finding a niche, you will have to do some research and come up with keywords for that niche. There are several tools that suggest good keywords and keyword phrases. Not only the keywords, they also give you the number of searches made for that keyword and also the competition. Suppose your niche is ???Golf???. Type in Golf in the keyword column and these tools will bring back several keywords for Golf, like ???Golf Balls??? and ???Golf clubs??? etc. Choose what exactly you are going to target. Never target a wide niche like Golf, always target sub niches like ???Golf Balls???. Look for keywords that are in demand and have less competition. The reason for not wanting to target wide niches is because of the heavy competition and if you are new, you may not even stand a chance against the big wigs up there. Anyway, why would you want to take the difficult route when there is an easy way out?

Keyword rich domain
Once you settle on the niche, next step is to check if there is a keyword rich domain name available. Many people don???t think this is important, but having a domain with your keywords helps in the search engine ranking, thus sending heavy traffic your way, resulting in more sales, and finally our goal of more money.

Content site creation
You will then need to tackle this ???Golf balls??? niche you have chosen. You will have to have a website. Nowadays, with all the free templates out there, creating a website is no big deal. But if you must, outsource the creation of website. Once the website is ready, since niche marketing is based on content, you will have to add content to your site. Write or outsource the work, but have at least ten articles written on the niche. Use the keywords in the articles.

Next comes the monetization of your website.

Monetization of the website
There are several ways this can be done. You can take the adsense route, go with the affiliate products, use PLR products, or create your own product.

Adsense: You can add adsense blobs to your website and earn a little money, but the money adsense brings in isn???t really much and not worth it in my opinion, if you are looking at the bigger picture.

Affiliate products: Having affiliate products related to your niche on your website is a great way of making money. Go to Clickbank and you will find many products. Look for the ones related to Golf balls, either Golf ball sets or ebooks on the latest golf balls or old ones. I suggest ebooks as they sell better, being digital in nature. Check for the products that are popular and pay at least 50% commission. Try and get more than two products and have them on your website. Another option is to buy PLR products and sell them on your website. You don???t have to write your own ebooks. Having said that, although it is not essential, there is nothing that can match your own product.

Submitting the website
Although, this point does not need to be mentioned, you need to submit your website to the search engines once it is ready.

Website promotion
The crucial thing to any marketing is advertising. Having the greatest site on earth is not going to help one bit, if there is no promotional plan. How will people know that your site even exists or that you have this product up for sale?

There are several methods of advertising. This in itself is another topic for research. There is Adwords or article marketing, and many other ways. If you have no experience with Adwords, stay away from it in the beginning until you learn the pros and cons of Adwords, and until after you have made some money on your website using free methods like article marketing. You need to spend money for Adwords and if you are not experienced, you may end up losing a lot of money. You wouldn???t want that in the beginning.

Write articles and submit them to article directories, like ezine articles and go articles, and make sure you give a link back to your website in the bio box of your article. Submit at least one per week. This way you will have many articles rotating and this increases the chance of attracting more traffic.

You can also join forums and make sensible posts with your link in the signature line. Don???t do blatant advertising in the forums, that will only attract negativity and some forums may even ban you. The main thing about forums is building trust and in the long run this form of advertising works wonders.

This is all there is to the ???niche marketing??? giant that has been making the rounds on the internet, with its tentacles spread in all corners and scaring the people that don???t know anything about it. Now it is time for you to tackle it. Go on and make money!

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