Multiple Income Streams From Niche Markets
Multiple income streams; exciting words, but what does it mean in every-day English?
In the world of Niche Markets in Internet business, multiple income streams simply means having more than one source of income. This is achieved by making money from more than just one online business.
Each different web site would generally be a different business. They could relate to each other, but not necessarily. You could have businesses that have nothing to do with each other. Both methods are quite successful.
Let's examine different scenarios. How to market unrelated products? In the offline world, we are quite accustomed to seeing a little bit of just about everything sold in department stores, from razor blades to baby clothes to fashion dresses to living room furniture to washers and dryers, and so on.
Is this how it is done in the online world? Absolutely, but it is not the only method. Mega Internet stores have evolved in such a way that to compete, you must be huge, and have tons of money to finance the operation, including the cost of the ever-changing web site. The competition and horrendous costs leave no room for the little guy, so he has to find another way to do business.
Enter the newcomer, looking for a way to make a living on the Internet. Seeing he can't compete selling a large mix of hard goods and soft goods, he can decide on a "niche" product to market. A niche product simply means specializing in one key product, or just a few related products.
This concept applies to both hard goods (items that must be shipped), as well as to downloadable information products.
This opens up a whole new world of possibilities, and it means a whole different way of conducting business. Specialization is often achieved using mini-sites that sell only one product. The mini web site might have from one to five pages, but usually just a single page.
Your information product that you want to sell needs a web site, hosted by a web hosting provider that provides you
their service at a reasonable cost. Let's assume you started selling your product, and after a few months it is bringing in some income. It might amount to $1,000 up to $3,000 per year.
That's not too bad, and is worth keeping, but certainly not enough to make a living with. This is where the concept of multiple income streams comes in. During the months that your business is building, you could be looking for other ideas. You find one that excites you, and more importantly you do the research and discover a good potential for attracting customers. So you go ahead with a second web site.
You have now achieved multiple income streams! Over time you have other great ideas. Actually, you are now up to four web sites with different ideas. Two of them are related information products, and the other two are hard goods.
All four are successful. Each one separately does not make enough to live on, but the combined four bring you in respectable dollars.
But how are we controlling our costs? This is important to do, seeing we have the cost of some advertising as well as the web site costs. We found it necessary to build a customer list for each different product, and periodical emails are sent to your list. All these costs can become quite extensive, almost prohibitive.
So, what do we do? How can we maintain our buinesses, yet keep our overhead down to where it isn't cutting hugely into profits?
One critical aspect to look at is your hosting and to look for a web site hosting service that includes all or as many tools that you need in order to do some serious Internet business.
The tools aren't all you need to consider. Sure having a hosting service that gives you an autoresponder is certainly a huge help. But, we have four sites here to market and at the average rate of $24.95 a business, that's close to $100 a month, a pretty steep bill especially if you are just starting out.
Now we are looking for a host that will provide all the
tools we need to run our businesses, plus we want one that
will allow sub-domains in case we have closely related businesses. Can we get it all at one low and affordable price.
In addition to the tools we need and the overall hosting
package we need for FOUR businesses, we are all about
multiple income streams, so let's see if there is a way to
benefit (PROFIT) from the hosting company as well.
Many hosting companies now offer an affiliate program where you can earn a commission by referring a business and gaining customers. That's pretty much a given, however the KEY is to ensure that the commission is recurring and not just a one time commission. Not sure what I mean about recurring income? Check the link out below for more information on recurring income streams
This is all great but the question now "Is there really a hosting company out there that will give me all the tools, let me host multiple sites for one reasonable price AND on top of that let me build another income stream?"
The answer is yes and you can read my review of Recurring
Income Streams and how a company called "ThirdSphere" is an
excellent example. At the same time you can learn the difference between Multiple Income and Recurring Income Streams.
Read about it here:
Having Multiple Income Streams using Niche Marketing is mandatory in today's Internet Marketing world?that is, if you want to make any serious money. Internet Marketing today has become much too competitive, and the newcomer has very little chance of breaking in.
Niche Markets, each with their own web site and relevant content is THE best solution. Niche Marketing is the hottest topic on the Net today. Niche Marketing is featured on my web site at Best Affiliate Products, and you can learn much more about it there.
I'll see you soon, in Niche Country.
Fred Farah - Copyright 2004
Best Affiliate Products and Niche Market Strategies
Subscribe to Niche Market Strategies Newsletter
And Niche Madness 7-day email course
www.bestaffiliateproducts.com/">Best Affiliate Products
The headlines across the media are talking about how much the Trump and Pelosi shutdown is costing. Most of it is true to varying degrees but the words are telling only part of the story. This post also reviews the major economic releases issued this past week - although several scheduled releases were not made -
Tesla 160 TSLA 160 CEO Elon Musk is making headlines once again this morning following his decision to cut 7 of the work staff from his leading electric vehicle manufacturer No specific amount of job cuts were announced but estimates are north of 3000 or 3100 Shares took a hit upon
We re again somewhat light on economic data this morning with new Housing Starts and Building Permits for December going unreported due to the partial U S government shutdown which tomorrow will reach four full weeks and already an all time record Thankfully Q4 earnings season and
With the partial U S government shutdown extending its longest period in history at this time next week should it remain closed it will have been for longer than a full month we do not have updated information on Retail Sales for December shedding some light on 2018 holiday shopping
At long last we finally see our first pre market of the new calendar year with multiple earnings reports from major companies in the S amp P 500 We even get new data on the Producer Price Index PPI this morning as well as Empire State results for January In short we re glad to bring you
Pre market futures are soundly in the red this morning following discouraging trade data out of China Exports which had been expected to come in at 0 6 year over year have fallen instead to 4 4 The pales drastically to the previous read of 5 4 Imports were even worse at 7 6 more
The fourth quarter earnings season is finally here. And one way or another, all of the concerns investors and analysts have had regarding a slowing global economy, impact of the trade war and the effect of rising interest rates on corporate profits will be revealed — if not within the numbers themselves, certainly
There is a general downward trend of economic data. Many are forecasting a recession in 2019. I am not convinced that the downward momentum will lead to an economic contraction. This post also reviews the major economic releases issued this past week - although several scheduled releases including factory orders,
Pre market futures this morning are down again although when we ve woken up to red indexes ahead of the opening bell in past days this week we ve managed to finish in the green each time The markets are currently riding a 5 day winning streak as astutely pointed out by Zacks Exec VP
Welcome to day 20 of the government shutdown over a $5-billion border wall that’s taken the SEC offline and put the future of ready-to-go Initial Public Offerings (IPOs) at risk. As of December 27 th , the SEC had only 285 of its 4,436 employees working, even though the agency’s electronic system for filing
We re certainly not above tooting our own horn here at Zacks but we try to be somewhat dignified about it when we do and only when it s truly justified Currently we see ourselves with an excellent opportunity to crow about the developing trend in the stock market first spied by Zacks
For newcomers to the stock market, or any financial market for that matter, one of the hardest things to come to terms with is the frequency with which the market reacts to news in a way that seems completely illogical. Sometimes it is just a matter of digging a bit deeper. An earnings report that shows a bottom
“The outlook for the global economy in 2019 has darkened.” That conclusion came from a new report from the World Bank, citing a variety of data, including softening international trade and investment, ongoing trade tensions, and financial turmoil in emerging markets over the past year. “Storm clouds are brewing
"Bull markets are born in pessimism, grow on skepticism, mature on optimism and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell.” The above quote came from John Templeton, who made a name for himself during the height of the great
This morning with no economic reports expected to inform investors with new macro data our pre markets up once again today are turning to public commentary from Fed presidents along with the release of minutes from the Fed s last meeting at which time interest rates rose another 25