Diversify Your Income

Many of us have felt the pain of our investments over the past couple of months and especially over the past few weeks. As we speak the stock market fluctuations are creating havoc with individual investors and hard working employees’ retirement accounts. This is precisely the reason why investments alone can not be counted on as a supplemental and/or prime source of income, there are just too many what-if’s involved.

Many people seek advice from me on what to do because they know that I invest in stock derivatives. The first thing I tell people are to spread there money and time around and I don’t mean diversification in the stock market (yes that is important) but in other money making ventures. People just don’t realize how incredibility easy and affordable it is to set up a business working out of their own home. The market I’m talking about here is called affiliate marketing. Affiliate marketing campaigns means that you’re basically selling other people’s products in return for a commission which is sometimes up to 75% of the selling price!!! There are many techniques involved that I will not get involved in here but it is not that difficult to start making a few hundred bucks a week.

Thousands of people everyday try affiliate marketing but very few make money doing it. It is very easy to get frustrated because the big money is not instantaneous and list buildings as well as writing good copy are prerequisites. Of course anything to do with writing can be hired out at a relatively cheap price from some websites (elance comes to mind). If you are knowledgeable about something and have average writing skills you can get started right away without paying someone else.

What I tell people is to start simple and ask people in the industry that have had success lots of questions. This is not a business you can do alone out of a hat. Even though it’s a home based business it involved working with and talking to others that are in the know and setting up joint ventures with those people. After a few successful sales you’ll be ready to create your own front-end and back-end products at which point you’ll notice a steady influx of income. The beauty of your own product is that you don’t have to sit and think up your own product from scratch. Find out what products are selling and are on the incline. Take those products and make your own improvements and sell the improved product.

Affiliate marketing is a great way to make extra income if you’re willing to work at it. Like I said, it’s easy to start up but it takes work to get it up to speed. Given the current state of the economy we really don’t have the luxury to sit on our hands while your investments are going down the tube. Start by creating another stream of income.