It will happen to the best of us. That one day when a platform decides that you don’t belong on it. I mean the major companies who can remove your entire account without reason.
They own the platform, therefore they make the rules. This is understandable, however, if you’re building your multiple streams of income using these platforms it could cause major financial issues.
Today I want to talk about how your income streams need to include a variety of platforms in order to alleviate the risk of having a private (most are now public-private, btw) company shutting you down.
They can shut you down simply because they don’t like you, they don’t like what you have to say, or just because you look funny.
I am not kidding, folks! I’m talking about Google, Facebook, Twitter, Amazon, and hosting companies, too! They all can say buh-bye and you’re out without rhyme or reason!
If you truly want to build your empire to gain the freedom that comes with financial stability, then please read my tips for building income streams below.
So, how do you build multiple income streams to earn passive income?
For starters, you’re going to have to make a list of what you’re interested in doing for a living on the internet. Write down the skills you currently have. Make a note of what skills you want to learn.
This could be something that you’re passionate about and you feel like you just HAVE to learn more about it!
When you make this list, keep in mind anyone can learn anything new. This is the information age. Every single person has access to the tools and resources found online.
You can take a course to get your certificate in any industry with online courses. You can use YouTube to learn a new skill for free or to advance your current skills.
There are seriously zero excuses as to why you can’t learn something new or use your current skills to earn a passive income.
What Will you Do?
Now that you have a list of skills and things you’re interested in learning, it’s time to map out your day using Asana. Find the first thing that you’ll focus on learning or focus on building. Use Asana to keep you on track to achieve this goal.
This program is one of my favorites that has allowed me to keep track of my daily tasks while ensuring I keep daily time wasters out of my work hours. You can see the video clip below that lays out how I map a typical work week.
Video References this link: How to Remove Daily Time Waster
You might be learning this new skill or advancing your current skills to make a passive income online while working a full-time job. Many people start their entrepreneurial path this way.
If that’s your situation, then use my tips in the Asana for daily tasks video above to map out your non-working hours.
These tasks in your Asana calendar will include actionable steps you’ll take each day to baby step your way towards the ultimate goal; making money online.
Build Your Website
As you start to learn a new skill or advance your current skills to create your multiple income streams, you’ll need a website. I don’t care what you’re doing, be it a service, product, or information … you’ll need a website! I typically use WordPress.org to build my sites.
This requires an investment in hosting and website domain purchase. The costs associated with each will vary depending on which hosting company you use.
If you don’t know how to build a website or have zero desire to build a WordPress website then you can outsource this task to someone who specializes in customized WordPress websites.
Do not waste your precious time learning a new skill that won’t add any value to your ultimate goal. The richest people in the world understand that some things they simply can’t do or do not wish to learn, therefore they outsource those tasks rather than wasting precious time trying to learn the skill.
Share your Story
Everyone has a story! What’s your story? The story is what sells the service, product, or information. People, especially on the internet, are addicted to the story behind a company or brand.
When you’re building your multiple streams of income you must remain authentic to your true self, share your story and be willing to get real honest about the trials and tribulations you’ve had.
People will think better of you and support your business when they feel you’re an everyday person like them!
I mentioned earlier about not using one platform to build your brand or business, and I meant it! While I do recommend using self-hosted WordPress for your website, it’s still managed by someone else.
The hosting company and domain company are owned by someone else. This can serve as a liability but there’s little you can do to get around hosting and domain companies other than learning how to set up your server at home to host your websites in-house. This is not an inexpensive process and does require some technical experience.
Stay True to Morals and Beliefs
One huge tip I have for you with building multiple streams of income is that you must remain true to your morals and beliefs. Building something that’s based on copying another successful person or doing what someone else is doing that doesn’t align with your true self will have a disastrous effect.
Sure, you might earn some big money at first, but slowly that passive income stream will disappear. People will know when you’re not being true to your story and self. You will know when you’re not being true to your story and self.
“Never let success get to your head; never let failure get to your heart.” -Anonymous
Eventually your brand and business will fall down. It’s only a matter of time. This is why I always tell my clients to stay on par with what they feel is valuable for them, what aligns with their core person, and to never stray from their true morals and beliefs.
Doing so will allow you to win and come out on top every single time. You may have some failures and mishaps along the path of success, but use them as learning experiences to build your brand back better!
Use Multiple Outlets for Multiple Streams
Lastly, make sure you’re using multiple outlets to build your multiple streams of income. this means having a YouTube Channel, a FB page, a Twitter profile, an Instagram profile, and so on. Make sure you have a variety of platforms where people can find your information and story.
This will give you a reduced risk of having your entire business be blown down by one platform that decides you can’t be on their platform!
I’m telling you, even if you think “oh well this couldn’t happen to me”, it can and it will. We’re living in some testy times and there’s a handful of people up there that feel they’re in control of the world. They very well are in charge of a lot of our daily life and internet life.
So, while you may just be an everyday average person, if you’re making money on the internet you can become a target at any point. Be sure to have your brand, story, and business spread out over multiple online channels to ensure your multiple streams of income survive!