For years I’ve bombarded my audience with the virtually self evident rationale supporting the pursuit of “Multiple Income Streams” (MIS).
Multiple automated income streams = Security
Only one income stream = Risky
If we can all agree on that point, then you’ll likely enjoy the rest of this article.
First I’ll dispel the biggest misconception about building multiple income streams.
FACT: If done correctly, generating multiple income streams online leads to SECURITY & LIBERTY of time & finance – it never feels like CHAOS.
There are numerous examples of success with this concept within our growing online community of online biz builders. Many of these success stories can be found in my $5 “Silent Sales Machine” book.
One important discipline that all “multiple income stream” biz builders have in common is that they control their schedules and commitments. They aren’t controlled by their schedule and they don’t operate in panic mode.
A true “Multiple Income Stream” entrepreneur approaches life with a harmonious blend of flexibility, discipline and creativity.
How do you get there form here if you are currently a one income newbie?
The opportunity that lies ahead if you dare go down this path:
What do you do all day once you have multiple streams?
Let’s chat about it!
Here’s a Facebook discussion on this topic:
Or post a comment right here on my blog.
Have you noticed how few products we promote to my audience? I’ve actively removed myself from so many “guru” mailing lists because it seems like they have one big $4,000 launch after another with the latest “must have” product/course/concept etc. Listening to all of that “noise” is a recipe for disaster.
Around here, my team and I have committed to doing things differently. We’ve been teaching the same three biz models for years and we keep on learning, growing and improving those three and those three only.
On top of that, we ONLY share the stuff that my team and I are actively USING and SUCCEEDING with. We don’t toss out ideas just to see what will stick -we share what we KNOW works because we are using itThere’s a science behind the system we’ve built and over 50 people are involved in filtering out all the “junk ideas”, “hyped up courses” and even all the “good ideas” that just don’t meet our standards. We do this to better serve you, and to ensure our top notch reputation stays right where it is.
You could probably guess that, because of our large and loyal audience (that’s you), my team and I are literally bombarded with offers, tools, courses, books and ideas from great people with great intentions in most cases, but you’ll never see or hear about even 5% of what comes our way from these “attention seekers”. The number of “big launches” and “shiny objects” in this industry can make you dizzy just to consider – so we have a strategy to EARN and KEEP your trust. I suggest you apply our “filtering” process to your own life to help weed out some of the noise.
Before an idea gets to my desk it must pass an initial “sniff” test.
Here’s a creative idea for launching a new or little known product on Amazon. Simply give your product away, or discount it, and then request reviews from those who benefited from your temporary promotion! Sounds simple right?
Not so fast.
Before I give you my words of caution, first I have some very good news. Clearly, according to Amazon’s own rules you ARE allowed to give away free or reduced price products and then request an amazon review in return. When done correctly, this is a brilliant strategy that can turn a relatively unknown product on Amazon.com into one that has the appearance of being “popular”. That can be good for future sales, and this strategy is being used successfully by many Amazon sellers right now, but…
…most Amazon selling experts would urge caution (including me) when using this strategy. For those considering attempting this strategy, I’ve compiled the good, the bad and some resources for you to hep make a good decision and navigate the process without getting burned.
SOME REASONS IT’S A GOOD IDEA:
SOME REASONS IT MIGHT BE A BAD IDEA:
SOME CHALLENGES YOU’LL ENCOUNTER:
HERE ARE OTHER RESOURCES TO USE BEFORE MAKING THE LEAP:
A good open discussion on this topic is happening in our Facebook group. Come see what other sellers and experts are saying. Facebook discussion
Amazon’s guidelines in their own words (read all of this before attempting to pursue reviews for free or discounted product): Amazon Guidelines
When you are ready to do a promotion, our currently endorsed provider of such services for sellers is here: GreatDealsForHonestReviews.com
Did I leave anything out? Have questions? Feel free to leave a comment, or join the Facebook discussion using the link above.
Our total online audience is in the hundreds of thousands and growing rapidly. I’ve had several high profile industry colleagues make the observation that they’ve never seen such fierce long term loyalty in any online business audience like we have in ours.
Our Facebook group launched and quickly passed the 10,000 member mark while still adding dozens of new members daily. Clearly we are on to something.
We get daily email and emotional posts in our forums and on Facebook from people thanking us and our community for helping them out in some way with their online business. We have stacks and stacks of such letters and we dearly value each one of them. When we held our last live event, tickets went up for sale and sold out the same day because the people in our community can’t wait to hang out together again.
How did we get here?
There are several common sense answers to that question – things like working hard, serving your audience, earning trust every day, only promoting stuff that really works, being generous to a fault, over delivering, acting with integrity, being in it for the long haul, slow and steady growth etc. Those concepts should all make sense instinctively to all of us with ANY ambitions in business.
But here’s a “not so obvious” detail that has played a huge role in our success.
I’ve observed that very few online leaders pay proper attention to this “secret” factor – but it’s been key in my growth and success. It comes from a Biblical lesson found in Proverbs 15:22. That passage says, “Plans go wrong for lack of advice; many advisers bring success.”
You may not realize it, but for the last few years I’ve had an “advisory board” that I’ve granted virtual “veto power” over all of my projects, promotions, content and biz decisions. The people on this “board” also come up with great ideas and partner with me on numerous projects.
In other words, my business never has been, nor will it ever become “The ‘Jim’ Show”.
You may have noticed that I only occasionally endorse any third party services or tools in my newsletter. There’s good reason for this. It certainly ISN’T because there’s a lack of people TRYING to get the attention of our audience. We are bombarded daily with new books, courses, tools etc. – dozens weekly try to “get on our stage” and they are willing to pay us a lot of money for the privilege! Before I’ll even consider endorsing a new course or tool to my audience though I insist that my review team go through it, review it, try to break it, test it out etc.
Most of what we test out and review just isn’t good enough and it gets VETOED by my team before I even see it.
That’s just one example of how I take a team approach to leadership. Ultimately, the responsibility falls on me to make great decisions on behalf of our audience, but I have plenty of sharp advisors who help me make solid choices.
In case you are wondering where these great advisors come from – they are the handpicked “best of the best” students who took our courses, read my books, and then did great things online with what they had learned. That’s the “litmus” test for access into leadership around here. If you succeed using one or more of our courses AND you also have a caring attitude toward helping others succeed, then you are a good potential candidate for leadership around here. Right now we have about 70 people total supporting or leading in some way in our community to varying degrees.
To wrap things up – the “big hidden secret” to leading well online is to NOT put your own opinions and ideas ahead of the best interests of your audience ever. The best way I’ve found to make sure I avoid that mistake is to give several trusted leaders in my audience VETO power over new ideas, projects, products or partnership I’m considering. I also encourage them to float me great ideas (and reward them handsomely for the winning ideas).
“Plans go wrong for lack of advice; many advisers bring success.”
“So, what do you do for a living?”
How do you answer that question?
As an online “Multiple income stream” entrepreneur, here’s how I answer that question (in general):
“I know how to make things happen online. I can generate leads, grow an audience for an idea or a product, or even liquidate inventory for top dollar. I also teach other people how to do those things for their businesses.”
Answering in such a way has opened up new opportunities for me consistently in each of my three primary online businesses for years.
Or, if I want to keep it simple I’ll simply say, I’m “an internet business author”. Sometimes it’s best to keep it short and send new contacts one of my books if they are interested in more info.
I have been teaching these three biz models since 2000, and I’ve been running these models myself longer than that. To my knowledge I’m the only one who has a business that teaches these three models and also runs businesses that does all three of them actively. The “CES” approach as we call it, is the secret behind the success of so many of our students, partners and my own biz.
A word of caution: Don’t attempt to launch multiple businesses at the same time. Build up one at a time with hard work and commitment, but once you have a working system don’t get “stuck” in a repetitive mode that relies on your daily efforts to keep the system running. Instead, use some of your profits to delegate, hire, outsource and automate the systems you build. We live in an unprecedented age where finding good help and building smooth running systems has never been easier.
I suggest you start where most of our students start- with the “S” model (explained below).
Here are the three models:
C: Consult (teach others what works online). You know more than you think! (We teach you how to ramp this at OfflineBiz.com, or in our free Facebook forum here: https://www.facebook.com/groups/offlinebiz/ )
E: Expand (grow your audience – build a tribe). This leads to affiliate marketing, your own books, products, courses, followers etc. and done right a steady stream of new clients (see “C” above)
S: MOST START HERE! Sell stuff (eBay, Amazon, your own website etc.) This is a great place to start. It’s a biz model that seems like too much work to many people, but it is the starting point for numerous success stories including my own. It scares off the lazy and leaves plenty of room for those of us willing to do a bit of work building a highly profitable online business. We’ve helped thousands of people build businesses with this model.
So where do you start if you want the sort of job description I have, or if you are interested in any one of the three biz models above? I wrote a book about it over 10 years ago – and I’ve updated that book 8 times since. It’s my book titled “Silent Sales Machine” – you can grab it on Amazon here for $5. We’ve now built an incredible community and leadership team around the concepts in this book. Join our free community on Facebook to see for yourself: https://www.facebook.com/groups/mysilentteam/
Here’s a recent screen shot of my email inbox (unedited except to protect privacy). You’ll see income for the “E” and “S” biz segments shown here. The “C” income comes in larger checks from clients.
Recently there have been a lot of courses launching claiming to teach success selling on Amazon. Some of these courses are getting the mega-launch treatment attracting multiple “big hitter” affiliates seeking the fat commissions on the very high priced courses.
If you want to spend thousands lining the pockets of experts who are only excited about their fat affiliate commissions, while learning the same things that we teach around here in superior courses that cost 1/10th the price tag – that’s fine, but after you read this at least you’ll know the truth.
In this blog post I’ll make a simple case as to why you should consider an alternative to the “big launches” and stick with the long time proven courses with long term established communities instead.
Consider the ProvenAmazonCourse.com course in this case if you are ready to learn how to sell on Amazon. Ready to jump into Private Labeling? Check out ProvenPrivateLabel.com (you can get both courses at an insane discount at ProvenPrivateLabel.com)
Or, don’t buy ANY course and just get going with one basic idea than anyone can use (one of multiple strategies we teach) – here’s an 8 minute video I made that’s getting great feedback so far. It shows you how to get started selling on Amazon at virtually no expense at all:
Here’s the exact “no rules followed” plan I’ve used to sell millions online:
Now go break some rules!
You’ve heard me talk about multiple income streams a lot.
I have numerous income streams myself, and I’m proud to have successfully taught many others this approach to life. It’s not a “business” style – it’s a “lifestyle”.
The MIS theme is in virtually everything I teach. In the “Silent Sales Machine” book I hit on it heavily. I’m pretty sure my team and I have taught more people how to achieve this relaxed lifestyle of multi-source income than anyone else anywhere. When contrasted with the alternatives of trading dollars for time (a job), or having only one source of income, I think you’ll have to agree, there’s no comparison in regards to the security and flexibility you can achieve for you and your family if you go the MIS route.
A common question:
Isn’t it difficult juggling all those income streams?
The first image that many people have when they consider the thought of multiple income streams is a picture of confusion or chaos as they try to do 20 things at once. That’s NOT what having multiple income streams feels like or looks like. If you allow ANY chaos, you’ll actually never get there. If it ever feels like juggling, you aren’t doing it right.
Multiple income streams feels like LIBERTY not JUGGLING.
EVERY student of mine who has achieved MIS has the following in common:
They can do all this because they have the following approach:
If you are still struggling to establish your first source of online income and all of this seems out of reach right now, that’s OK. More than likely it’s a mindset issues and you’ve probably been chasing too many “shiny objects” hoping for a big break.
I’m here to tell you that your “big break” will come disguised as a bit of focused effort (aka work) on a proven system.
We have multiple business models that can easily become your first stream. Check out the “Silent Sales Machine” book on Amazon.com (it’s only $5), or visit SilentSalesMachine.com and get it there. That simple book has been the launching point for countless Internet success stories. Last week we gave away over 8,000 copies of that book and determined students all over the world are putting it to use for the first time.
There’s never been a better time in the history of mankind to be a business builder. Multiple income streams has never been easier. Join us.
Have a question about building multiple income streams?
Ask any question here using the comment button, or join the free MySilentTeam.com Facebook group and join the discussion there. That link will take you right to the discussion we’re having now about all of this.
Wow – I’m still recovering from the week long adventure that was CES Dallas. The core of the event was three intense days of incredible content, but for my family and I it was a 7 day adventure.
We spent time with some of the most successful, giving, friendly, powerful leaders, students, authors and experts in the world of Internet business.
This video explains it all, or read the quick summary below.
By any standard imaginable, the live event in Dallas last weekend was a raging success. You can see the hundreds of pictures, comments and discussions on Facebook and twitter by searching for the event hashtag “#ces2dallas”.
Here’s a link to the facbook group where 95% of all attendees hang out - if you aren’t a free member there yet, please join us (once you are in, search for the event hashtag #ces2dallas): Click To Join th MySilentTeam.com Facebook Group
I won’t even try to communicate in an email the mind blowing impact that the “CES Dallas” event had and will continue to have on every attendee, and probably the entire Internet biz community. I can’t help but feel we are raising the standard of what an Internet biz conference should look like.
In his opening comments, our keynote speaker Rabbi Daniel Lapin had us on the edge of our seats for two hours…and one of the biggest take aways for most people was the fact that in life as in business and in all other arenas, we are NOT meant to be alone. Solitude is poison, and as Internet entrepreneurs we have to resist the urge to “hide” and try to “go it alone”.
There’s something powerful about face-to-face meetings like CES. Because the core of our audience is made up of such passionate, caring, giving people, the atmosphere was alive and quite emotional at times in Dallas. It’s hard to explain, but from the pics and comments posted online you’ll get a feel for the impact of this event. Use the link above, and check it out if you haven’t yet.
So far 100% of the anonymous surveys we’ve gotten back from attendees have said they plan to come back next time!
If you have a couple minutes, check out that video above – in it I show you:
1. A brief wrap up of the event
2. How to stay a part of it all for free on Facebook, or take a more serious step and join my team and I in the launch of…
…and finally, allow me a quick shout out to our incredible sponsors who helped make the event possible and added so much value to the event: