Quote: (06-28-2012 04:57 PM)Deb Auchery Wrote:
It's good to have as many multiple streams as possible IMO as long as they aren't too much work. If someone tells me an easy way to make $50 a month for ten minutes of my time, I will do it.
I do think it is good to have multiple income streams but not the way you are doing it.
For example, I sell software and my particular technology can be pushed into several markets. Same technology, just different marketing and branding. It took time to get to this point. If I were to follow your advice I wouldn't have time since it would be split doing many other things like drop shipping, freelancing, affiliate marketing, etc...
I think a great deal of people miss out when worrying about income diversification. I can diversify in many markets now because I focused on one project.
Also, I will concentrate on one market because there are so many products waiting to be created that it makes no sense for me to diversify in many others. Let's look at it this way, I build up a buyer base so it would make me more money with less work if I proceeded to concentrate on that market.
This market isn't going anywhere. There are tons of new buyers coming in all the time. If I were to ever max out all possibilities with this market, I would then go to the next market.
Now investing into passive income streams wouldn't be a bad approach.