Multiple streams of income have officially started pouring in.
Admittedly it is more of a trickle, but where do you think Warren Buffett started?
Starting the Forward Motion Studios Blog 10 months ago, with massive support from Cath, had many purposes. A place to keep our clients up to date on online marketing best practices, educate interested parties on the elements of web development, and pitfalls to avoid.
The blog also gave us a great place to highlight our affiliate relationships with supporting companies.
As an online marketing company, we are always talking to clients about the benefits of email marketing as part of their overall plan. Highlighting our affiliate partnership with iContact was a perfect fit.
This past week, we had been discussing a few upcoming projects and their impact on my constant goal of multiple streams of income when I started sorting through the mail.
So imagine my shock when I got my first check.
It came from iContact from their partner program. Money through the mail. I love this concept. The whole experience of getting that check gelled the importance of multiple income streams.
The next day my second jewelry sales check showed up = Bonus.
We aren’t talking thousands yet, but its the start I needed to keep me on track for the next few ventures.
What is a Good Business?
One of my favorite finance gurus, Warren Buffett, has some great insights on three kinds of businesses — extraordinary ones, average ones and of course, businesses of the worst kinds.
I’ll spare you the gory details of the average and worst kinds – we see these everyday and probably don’t need any reminders after 2009.
So what are good businesses?
The best are the ones that have the opportunity to tap into multiple streams of income. Ideally, with minimal investment.
What does minimal investment mean for small business?
With the projects I am working on, it’s time and energy.
We are doing the research, writing the content, and since we are a design studio, doing the layout for the presentations, and very soon, e-books.
Would it be pretty impressive to have the book printed and bound? Sure, but outside printing isn’t in our budget for this project and punching holes and spiraling binding workbooks at 1:00 am is part of the job. For this next round of expansion.
What is your 1:00 am project? Do you have something in the works to expand your product or services? Does your significant other typically have to remind you to go to bed?
Maybe this is just me . . .
Leave me your 1:00 am comments and keep those good business ideas in the works.
Heather’s dream is to have multiple streams of income, starting with launching an e-commerce website that showcases her one-of-a-kind designer jewelry, which are crafted by her. Her newly launched sites are couture jewelry available through For Your Adornment, and Twitter background designs on Twitter And Beyond Dot Com. She also teaches Social Media tactics for business, besides being CEO of her own web design company. Heather’s post day is Thursday.