Many of my clients ask me how to make money online. Everyone is looking for fun, original ideas to implement and make money. Moguls of New Media article in Wall Street Journal talks about just that – how different people leverage the Internet to make money.

Amond them is a popular member of an online community MySpace, podcasters, bloggers and creators of online videos. Many people are looking for entertainment online, so if you can create a video that becomes popular, it will be watched by thousands and thousands of people.

What I like about all the people mentioned in the article is that are diversifying their income streams. They have created different income streams – they make in-person appearances, take advertising for their content, sell subscriptions, sell content, speak, and much more. They realize that one venture, however popular, is not enough for continued success. Therefore, they diversify and create multiple streams of income, while doing what they love to do.

And, even though they make plenty of money now, they still continue to diversify. So if people who command thousands of video views and have very popular podcasts, are still interested in diversifying further, what does that tell all the online business owners and solopreneurs?

It tells us that creating multiple streams of income is what all the successful business owners do. In order to succeed, we need to be diversifying and have different ways to produce revenue. For example, a business owner should have revenue streams coming from one-on-one work, as well as group work, speaking engagements, subscription sales, books sales, ebooks and reports sales, audio and video content sales and more. Only when you have different products to offer to your clients, will you be able to create the revenue that you are looking for.

Biana Babinsky

Biana Babinsky is the online business consultant, expert and author, who helps coaches, consultants, virtual assistants, professional organizers and other solopreneurs create multiple streams of income at https://www.MarketingSalad.com

This entry was posted on Monday, July 31st, 2006 at 10:27 am and is filed under Business Blogging, Internet Marketing, Internet Marketing Coaching, Solopreneurs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.