4 Home Business Income Streams

Do you want to know the Number One reason why the home business industry has a 97% failure rate?

Simple.

It's because they rely on one source of income.

Today you're going to learn the 4 income streams you need to have in your home business that will allow you to make money from the 90% who say "NO" to joining your opportunity.

While there are many. more income streams out there, these are the core streams that the top earners focus on first.

When someone starts a home business in the network marketing industry, there are 2 income streams - building a customer base and then recruiting other distributors.

There are 2 big challenges when growing your network marketing business.

First, network marketing companies come and go. 90% of companies don't last 5 years.

Second, 99% of distributors change network marketing companies 2-3 times! 

Why?

Because most commissions pay out 5-10%.

That means, for every $100 sale you're making $10.

And that makes it difficult to build residual income.

So how do you make money off the 90% of people who will say "NO" to joining your home business?

This is where having multiple streams of income come in.

They are your insurance policy so if in the event your network marketing company goes out of business, or you decide to move in a different direction, you'll still be getting paid.

Retail income is the income from selling products.

When you're in network marketing you'll want to immediately start building your customer base.

It starts with picking one product that will solve your dream customer's problem.

The goal is to use the product, get a result (it doesn't have to be a big one) and share that story QUICKLY.

What I learned from top earner Diane Hochman when you develop the story "you gain momentum and can leverage the story LONG TERM."

The second home business income stream is affiliate income.

Affiliate income is where you market another company's products or services and you get a commission.

It's different from network marketing because there are no distributors.

Here's how you can grow an affiliate income while building your network marketing business.

Let's say that you're in the weight loss niche.

You could become an affiliate with Amazon (yes, Amazon has an affiliate program).

Think of other weight loss products (i.e., exercise equipment, blenders, apparel, workout videos, etc.) you could promote to people who say "NO" to buying your network marketing product.

These could be products you are currently using right now.

As you continue to grow your home business and brand, you'll eventually want to set up some coaching or training programs.

You could have a paid Facebook group sharing more tips and strategies.

You could create a digital course where you interview some of the most successful people in your niche.

Then there is your business opportunity.

If you get people hooked on your product story and they love the product, they will definitely join as a distributor to make money.

If you promote the business first and they decide it's not for them, you can still offer them to try the product.

So you're probably thinking, "easier said than done Doc".

I hear you.

Here's what I want you to do.

First, watch the video above where the leaders of My Lead System Pro (MLSP) will show you some strategies to help you achieve all 4 streams.

Second,I invite you to join the Affiliate Marketing Bootcamp.

In this bootcamp you'll learn from 8 of the top affiliate marketers who have made a minimum of 6 figures in their home business.

Here's a sneak peak of what they will teach you.

Become Unique In The Marketplace By Creating a Quick & Simple Irresistible Offer Your Prospects Can’t Refuse

Solve Your Audience’s Biggest Problems

Add Massive VALUE to Your Tribe

Position YOU As An Instant Authority NOW

Grow Your E-mail List of Prospects FAST

Turn New Leads Into Loyal Fans & Buyers

Fuel Your Business with Sign-Ups, Customers & Cashflow Every 30 Days Like Clockwork!

You can register HERE.

Affiliate Marketing Bootcamp - Learn More Here

In this 8 week bootcamp you'll learn from 8 of the top home business owners who have made a minimum of 6 figures with one affiliate marketing program.

They will show you the exact formula they use with every business opportunity or affiliate product they promote to help them hit the leader boards, close sales, and make money fast.

When you register for the bootcamp you will also get live daily coaching for 30 days.

My Lead System Pro - Learn More Here

Leads are the lifeblood to your business. One skill set you need to master is the ability to market and get leads for your business on a daily basis.

My Lead System Pro (MLSP) gives you a tools suite to build your business - lead capture pages, Customer Relationship Manager (CRM), and custom made lead magnets to give away to build your list.

They also teach marketing specifically on lead generation strategies. Their community and support is top notch. 

You can get a 30 day Test Drive of the community for $1.

Aweber - Learn More Here

One of the MUST HAVE tools every online marketer needs is an autoresponder. An autoresponder allows you to collect email addresses and to email them regularly. It is a huge time saver. 

Aweber is the industry standard and integrates with most funnel software programs including My Lead System Pro (MLSP), ClickFunnels, and Lead Pages. I've used Aweber since 2010 because the software is easy to use and customer support is top notch, including 24 hour online chat. 

Email: drlisa@drlisamthompson.com

Follow Me on Facebook: facebook.com/DrLisaMThompson

Need extra help growing your business? Book your strategy session here where I help people every day.

P.S. Want to learn how to get free leads for life? I Recommend You Start by Clicking Here.