When I first heard the term multiple streams of income, it was years ago when I was working in the real estate field. It referred to the idea of planning out your investments to include not only real estate in various forms, but also stocks and bonds, municipal funds, precious metals, and several other types of investments.
Now that I work exclusively on the Internet I think of multiple streams of income in a completely different way. I earn money from the sale of my own products, affiliate products, membership sites, AdSense and other types of paid advertising, services I perform for others, and from coaching.
I also do some local business marketing, so this is yet another stream of revenue that I earn on a regular basis.
If you are just getting started online you will want to think of your new business in this way. The idea is to not put all of your eggs in one basket, making it much easier to diversify your interests and spread out your monetary possibilities in a multitude of directions.
Allow me to provide you with some examples of exactly how you can get started with this business model.
Your blog is your home on the Internet, so it makes sense that you would monetize that site in at least a few different ways. I add two or three affiliate banners to my sidebar on my blog, and rotate these every few months.
When I see that one banner is not converting very well I will remove it completely in favor of another one that, hopefully, is a better performer. This will take some trial and error on your part for the first few months, but soon you will have an excellent idea of what works best for you.
Another way to earn a stream of revenue from your blog is to have paid ads, such as AdSense, within some of your posts. This works well when you are providing good solid content to your readers, and not recommending anything else.
Recommend your own and affiliate products in other posts, and include a page where you have some resources listed for your visitors. Over time this will build into a steady source of income. Focus on the specific products, services, and courses that best serve the target audience you are going after for maximum results.
Soon you will see that your online business is bringing you multiple streams of online income.