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Residual Income: Multiple Streams - Where To Begin?  by: Hamish Hayward One of the great things about the web is that things change so quickly – this allows new marketers to take advantage of novel trends and new developments. On the other hand of course, if you don’t respond quickly to new market conditions, your business – and income – can be adversely affected. That’s why you need to have multiple streams of income – so that if your current top earner disappears off Google’s radar or one of your many competitors introduces a new product that wipes the floor with your best offering, you have other income streams to fall back on. It’s just like buying stocks and shares – you want to have a diverse portfolio to avoid any sudden spikes and glitches in the market. Or put it another way – don’t put all your eggs in one basket. That’s all well and good, but just where are you going to find these multiple streams of income? Sometimes it can be difficult to find even one business opportunity that’s worth investing your time, energy and money in. The first logical place to look is the market. It’s not always easy to get hold of hard facts and figures when it comes to marketing and often, when you do get some, they are well out of date. However, the figures below show the UK market percentages of directly sold goods for 2000, a year when the total spend in this area was $2 billion. These figures are sourced from the UK Direct Selling Association and make interesting reading. Services 32% (telecoms, utilities) Personal 26% (cosmetics, fragrances, skincare…) Family 17% (Books, toys, games, business aids …) Household 14% (Security, water treatment, electrical…) Wellness 7% (Nutritional, diet plans, supplements) Food 4% (Frozen) About The Author Hamish Hayward - Discover the key criteria you MUST evaluate for business success. Now available as a free e-book. http://www.perfectsystem.co.uk thamisgith63@yahoo.co.uk This article was posted on August 1, 2005 Read More Articles from the "Business and Finance" Category: Knowledge Is Business by Arvind Kumar How You Can Avoid Becoming A Victim Of Identity Theft by Alex Katz The Truth Behind Linear Selling: Why It Can Make Prospects Run The Other Way by Ari Galper How Home-Based Business Entrepreneurs Think by Dinar P. Wiria-Atmadja Child-like Confidence will Build Your Work From Home Business by Cheryl Haining Relocation Issues...Who Will Pay? by Elizabeth Kirwin Get New Car Loan: An Opportunity To Get New Car Despite Money Crunch by Gracy Parker Dead Silence From Your Prospect: The Worst Sound Of All by Ari Galper You Can Make Money With A Home Based Business by Hans Hasselfors Trying New Things in Business is Inherently Wasteful by Robert Sher << Back to "Business And Finance" Index

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