There’s a lot of talk at the moment (most of it rooted in fear) about the fiscal cliff and pending tax hikes.
But one thing I know for certain rather you consider yourself middle class, upper middle, broke as hell or down right rich at some point you’re going to experience situations in life that revolve around an increase in your day-to-day living expenses.
It doesn’t have to be higher taxes, it could be your rent, mortgage or even insurance, and for record, I’m please to report that my automobile insurance actually went down recently!
Anyway, what I’m referring to is an increase in your standard of living, that will definitely change as you go through life. In my opinion instead of fighting the inevitability of it, you should expect it. If you’re expecting it, then you can plan for it.
The truth is, we all want things out of life, for example, having the ability to take extended periods of time off to travel or study, starting a family or sending your kids to college.
Maybe you dream of purchasing a vacation home, working with a particular mentor or coach, or treating yourself to regular bodywork.
Hell ~ just buying better quality food to feed yourself and your family.
Whatever it is, you can bet it’s going to cost money, often times more than you feel you currently have on hand, and that leads me to the topic of today’s article. What you need most.
Have you guessed what it is? Money!
Regardless if you’re currently self employed, unemployed, or underemployed one thing I know to be the absolute truth. Everybody needs multiple ways to create income! That’s just a fact. Fortunately today it’s so much easier to launch a second, third or even fourth income stream in a matter days, if not hours and that’s what I’m going to show you in today’s article.
I must warn you this isn’t the typical “3 random ideas to make money” article, so prepare to expand your thinking and as you read explore how these three ideas can work for you. In the interest of full disclosure, I’m only suggesting what’s worked me.
3 Ways To Create Multiple Income Streams Quickly.
1. Write a book and publish it to Amazon Kindle – Again I’m writing this article based on my experiences and I can tell you that publishing my work on Amazon through the Kindle platform was by far the wisest move I made in 2012.
Not only is it free to do, (they don’t get paid until you do) it has it provided me with an automated income stream that requires little to no maintenance on my part. But the best part is I now have a global audience exposed to my work providing me with numerous opportunities to present my other higher ticker offers to “buyers” of my book.
I see tremendous potential in that, and so should you.
If you don’t fancy yourself a writer don’t worry, there are numerous ways to get your thoughts, teachings and experience on paper or computer hard drive. Unfortunately the “how”, falls outside the scope of this article. But read on because I offer a solution that can help you figure this out.
Regardless what you decide, it’s more important that you actually do decide and get it done. Tip: Your first project will be the hardest. But once you experience hundreds, if not thousands of people accessing your work across the globe, you’ll want to do it again only this time much quicker.
Again, the bottom line just get it done. Next, read on to learn why having a book is becoming so important.
2. Create a spin off product or service based on the book as the “next step” – Today we want to invest our money with specialists or experts. People who understand our particular problem or situation and offers solutions that feel as though they were custom tailored for us.
Keep this in mind, people will come into your business from different directions, your Kindle book being only one of them. So if you want to multiply your income quickly the simplest is to create something based on something else you already have.
Think about this way: If I’m a person with a tax problem I may buy your Kindle book and get some amazing tips. But if you offer a “Tax Resolution” program that includes a simple plan designed to help me handle my own situation -or- you offer a “Done For Me” solution, then you just went from a couple of bucks for the book, to perhaps several hundred, if not a thousand dollars or more for the Done-For-Me solution.
Do you see how this works? As a rule your “next step” solution should be at least hundred times more than the retail cost of the book. So to illustrate, if your Kindle book is priced at $2.99 then your “next step” solution should be priced around $299.
3. Design a third higher level investment opportunity based on both the book and the “Next Step” – Depending upon your service offerings you may come across potential clients that need a lot more hand holding and personalized attention. If so, and they’re willing to invest in the service, seriously consider designing a high level solution.
Let’s say that our Tax adviser has a team of associates that can offer a variety of related services, everything from estate planning, to setting up corporations. Once he/she learns the needs of their client they may find that they can manage several functions for them; an “all-in-one” solution if you will. That’s where having a higher ticket offer can be a good solution not only for your client, but your cash flow.
My advice to you: Design your income model from the top down. In other words, create your high end offer first, then reverse engineer your other offerings back to your book.
Think of your book as one small piece of the top end offer. To increase the chances that your book will be successful the topic should be something that a large, but very specific audience is actively searching for. Finally, it absolutely must be something that solves at least one very specific and targeted problem.
One caveat I want to point out. In most instances your high clients may never actually read your book. For them the mere fact that you’re a published author in most instances will be all they require to instill confidence in your abilities.
In addition it’s important that you’re clear that your client service funnel won’t always work from the bottom up, not automatically. On the contrary, in some instances you actually want the reverse. Why focus all of your energy on chasing a few bucks from a thousand people when you can easily find at least one that will give you several thousand?
If you haven’t figured it out already your book can serve as a positioning tool that leads to greater income generation opportunities. In actuality it’s both, and that’s even better.
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