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Why You Want Multiple Streams of Income in Your Business
Many people enjoy having multiple streams of income. In fact, I can’t think of a reason that you’d be opposed to it. You may have heard the phrase “multiple streams of income” before, but do you know what it means?
What is “Multiple Streams of Income?”
To put it simply, it’s making money in more than one way.
If you have a full time job, that’s one stream of income. If you have a spouse with a full time job, that’s a second stream. If you have investments that give you dividends, that’s a third income stream. If you own and rent out property, that would be a fourth stream of income. As you can see, it can be easy to have multiple streams of income, even if you don’t work 24/7.
For the rest of this article, we’re going to focus on your online business. If you have an online business, that can be at least one stream of income. Some people would say that an online business is only one stream of income, but I would completely disagree.
To me, as long as you’re bringing in money in a different way, it’s a different stream of income. If one of them could disappear, and yet the others are still there making you money, it’s a different stream of income.
