Episode 193: “How important is it to have multiple income streams in your business?”

Today’s question comes from Steve in Illinois, a partner of Diamond Members Bill and Michelle Pescosolido who are from Texas in the United States. Steve wants to know how important it is to have multiple income streams in your business, specifically, a ladder with a profit maximizer?

I start off by sharing one of my favorite quotes from Dan Kennedy: “One is the most dangerous number in business.”

I explain that I have always taken that quote to heart and I discuss the importance of diversification in any business.

Diversifying your business by promoting various income streams spreads out the risk in case any one of your revenue sources stops producing.

MOBE affiliates have access to many different revenue streams such as a growing number of products on MOBE Marketplace  and a long list of Live Events; along with the best Affiliate Marketing program in this industry.

For tips on how to grow your business, click Here.

If you like this video marketing tip and want more, go to AskMattLloyd.com and subscribe, and I’ll send you a new one each day for free.

 

Comments

  1. Hi Matt I am glad I got your email again. I have been trying to recover my account with MOBE. I think I finally got it. I contacted them several times I finally pulled my cloud and I had screen shots of the email I signed up with praise the Lord.

    1. Nate Rio says:

      Sounds good, Artricia.