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9 Ways To Make Your Website More Presentable
Your website works as your spokesperson presenting the message you wish to convey. Thinking in terms of this analogy often helps you to look at your website from a different angle and make visitor-friendly changes.
Imagine a situation - you...
How to pay less and get more: Discount broker vs professional
How do you invest? What do you really pay? At the end of the day, what are your real results? These are questions smart investors should be asking themselves (but usually don't). In this era of more fees, misc. charges, holding periods and back...
Planning Is The First Step
Starting a home based business is less complicated and takes less preparations than most off home business need. No search for an office or a shop, no money you need to pay in advance to rent or buy a place. Not need to order a stock to be able...
The Basics of Forex
Foreign exchange market is also known as Forex or FX market. To date, it is the world’s biggest “economic bazaar”. FX produces an average of over $1 trillion daily earnings. That is 30 times more than combining all the volumes of America’s equity...
The Benefits of Starting A Home-Based Business
The U.S economy continues to grow and corporations are enjoying large profits, but the majority of Americans still struggle with finances. This is one of the main reasons many people are looking into the benefits that a home-based business can...
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Developing Multiple Streams of Income for Your Home-Based Business
Many home-based business owners have a single service or product they provide. They may sell e-books or crafts or speech-writing services. Specializing in one area is good for many reasons. For one, it makes marketing easier and helps that business build a solid reputation in one area.
Although specialization has its benefits, businesses who derive all of their profit from a single area are overall more susceptible to economic fluctuations and less profitable long term.
A good example of multiple streams of income at work in traditional business is the modern newspaper. A newspaper company brings in revenue in three ways: by selling the papers, by selling advertising space, and by selling classified ads. Each of these is another stream of revenue for the newspaper. Furthermore, some newspapers have added an additional stream by charging for access to their online content.
For the home-based business owners like yourself, the key is to follow the advice of the old saying: "Don't put all of your eggs in one basket." Instead, you should work on developing multiple streams of income.
Think in terms of a river. One river may have hundreds of small tributaries and streams emptying into it along its path. Without these waterways, the river level would fall considerably and may one day disappear completely. The same is true in business. Your revenue is like that river; it needs to be nourished by many sources, not just one. If that one source slows down or dries up, the negative impact on the flow of your revenue is dramatic.
Once you understand why you need multiple streams of income, the question is how do you create them. One home-based business owner who specialized in writing secured her multiple streams of income by owning her own business, doing freelance work for two other companies, and teaching a class at a local business college.
Another home-based business owner joined affiliate programs offered by big name retailers and earned money by imaginatively incorporating them into her heavily
trafficked web site.
Still another took his existing product which was designed to help marketers produce effective e-zine articles, made some minor changes, and re-packaged it as a tool for students struggling to write school essays.
As these examples show, multiple streams of income can be derived in a number of ways if you think creatively. The key is to look for ways that complement your existing business.
If you sell gourmet cookies, for example, you could produce cookbooks. If you work with Internet marketing, set up an online bookstore full of marketing books via an affiliate program. If you design web sites, teach a course on it at your local college or offer it online through your existing business site.
The possibilities for establishing multiple streams of income are endless. But you must always remember that the key to successfully managing multiple streams of income is not to lose focus on your primary revenue generating activity.
Have you ever been to a web site so covered in ads that you could not tell what service or product was even being sold? Most people have. The people who run those sites do not realize that visitors are not coming to see banner ads for other companies' products, but to learn more about theirs.
When visitors are bombarded by these other ads, they leave in frustration. In the long run, the site loses money because it simply isn't generating enough sales to justify charging a decent rate for advertising. The idea is balancing these other ways of earning you money without taking away from the income stream you already have.
Once you have your streams in place and learn how to maintain this equilibrium, your revenue will flow like a steady river and will keep your home-based business on solid ground.
Vishal P. Rao is the owner of http://www.home-based-business-opportunities.com - One of Internet's leading website dedicated to starting, managing and marketing a home based business.
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United States Small Business Administration |
An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
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SBA |
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Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
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Small business advice business start up small business finance ... |
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Business & Small Business |
Online and print small business publication. Information to help start, grow or manage a small business. |
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Microsoft Small Business Center |
Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
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Advice and assistance for starting and operating a small or home based business. |
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SCORE "Counselors to America's Small Business" |
A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
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Small Business and Self-Employed One-Stop Resource |
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Small Business Funding Opportunities (SBIR and STTR) |
Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
grants.nih.gov |
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Microsoft bCentral Small Business Directory |
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