Multiple Income Streams: A Guide to Semi-Passive Business
How to diversify your income for more stable and scalable growth.
You might be interested in multiple incomes streams for a few reasons. Maybe your current gig is seasonal or has its ups and downs, so you need something to supplement the dips. Maybe you’re not sure which business you want to go into, so you want to experiment with a few. Maybe you’re a jack-of-all trades kind of person and like getting involved in different projects. Maybe you’re putting a lot of effort into your primary passion but it’s not bringing in the income you want, so you want to explore other avenues to generate more income.
Whatever the case, setting up multiple income streams is great for creating some stability in your business revenue while also tapping into a potentially new customer audience.
First, I’ll give you an outline of what I’ll talk about so you can jump right to that if you want.
I’m going to go over all the possible sources of income:
- Ads
- Affiliates
- Sponsorships
- Services
- Products
- Subscriptions
