FTF CEO Nick Eubanks on why building multiple income streams is the quickest way to skyrocket any entrepreneur to success.
Nick Eubanks
Being a multi-talented business guru is only part of the package to build a successful business strategy. You need to attack your new business from all angles, set it up, then ensure it has effective management. The more revenue streams you have, the better off you will be. This means that we want as many of them as possible to run themselves with minimal involvement from us. As entrepreneurs, there are already heavy demands on our time.
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Nick Eubanks of FTF digital agency advises that the average millionaire has seven revenue streams or more active at any given time. So if you want to turn your business ventures into millionaire-producing opportunities, you should follow his advice and set up as many streams as possible. Nick practices what he preaches, too, with 12+ revenue streams already in place and his eye on a bright future filled with glittering B2B opportunities.
Where to Begin Making Revenue Streams?
Admittedly, setting up multiple income methods is not as easy as it sounds. To manage a single business full-time as an SME entrepreneur is difficult enough. However, if you have one company and run it very well, you still get the income from this, and it may be successful. There is nothing wrong with carving out an honest living for yourself. However, if you want to score the big-time rewards, you need to do better than a single business. Eubanks advises several, each of which should run itself as much as possible to spare your time.
So how do you start making multiple income streams? To set yourself up, you need to start with the online marketplace. In the online global market, there is demand for every aspect of business across all sectors and areas of industry. So start with a business idea that you know works. There is no real need to think outside of the box in areas with plenty of work for everyone. Digital marketing is an excellent example of this.
Set up your website to operate elegantly and professionally. Once you have ample experience in this business area, you can move on to marketing yourself as a consultant for the same. This leads you to your second revenue stream, although it overlaps with your original business plan. Next, think about collaborations and affiliate marketing through your site. Could working with others extend your limited reach? If so, do it.
Thinking Outside the Box
All you need to do is keep up your networking game once you have consultation fees, affiliate marketing, and collaborative opportunities on the table. Traveling in entrepreneurial circles will soon allow you to invest in other projects. Small investments here and there could pay off big time down the line. Investing in silent-partner opportunities lets, you gain cash flow from another income stream while the workload is on someone else’s shoulders.
From there, it is only a few short steps to success. Ask Nick Eubanks, who has multiple income streams and counting.
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