This is a huge topic and is one that you must completely understand. Otherwise, it could cost you a lot of money. Let me explain what multiple streams of income are and what they are not. Multiple streams of Income are a concept that many millionaires use to have many revenue avenues. Michael Corcoran, who was the founder of the first multiple income stream marketing system on the internet in 2001, would agree with this concept.
When Mike Corcoran created the first Multiple income stream marketing system, he never imagined how so many people would take advantage of this concept and use it against you. Before I get into detail about the ways that these so called "internet Guru’s" are taking advantage of you, I’ll get into the way it was intended to be used.
Multiple income streams was intended for a person to start a business with one company, affiliate program, MLM or direct sales company. It was intended for a person to master one program and witness consistent success with that one program, then add another business to the portfolio when, and only when, the first business was running successfully, consistently, and in a somewhat automated fashion. This means that while still running the first business, putting less time into it because of its success, focus a little more time and money on the new venture to get that one to the same level of success as the first. This is how you can double your results. Like, I said, it is recommended to reach a point of continued, consistent success with one venture before moving on to others. It is also recommended to branch out into different industries. This is known as diversification.
If you have spent a few years developing the above strategy, it is alright to add a third or a fourth business to the portfolio as long as you are able to adequately maintain the original businesses. Adding more than one business to your portfolio in a very short amount of time suggests that a person is not focused on building a business, but on the pursuit of money.
Program jumping is unfortunately becoming more and more popular with the explosion of the home business industry. I have recently witnessed individuals who have joined more than 2 businesses in less than 6 months. From the persuasion tactics they use, I have labeled them as program-jumpers. Program jumping makes sense for the leader of jump. They use such terms as bashing their previous programs to encourage past customers and members to follow them into what they call better or more lucrative programs. The truth is, they are simply in pursuit of a large income in a short period of time, using newly launched programs as springboards. They often make excuses for leaving previous programs. The truth is, their hype or tactics are no longer pulling in interest and their income is suffering, so they take what fame the built up from their previous programs, and use misdirected hype to shepherd their customers into the "newer and better" program (which in many cases isn't much different from the previous one). Anytime a new program comes on the market, they're in at the beginning, starting up their cycle of lies and deceit all over again. These folks become more infamous than anything else.
The most disturbing aspect of this situation is that these program-jumpers are not always easy to spot. On the outside they look helpful and driven. They put together training packages, marketing tools such as capture pages and auto responders, professionally written letters, etc. They look like a real leader until you pay them $1000 for program A (and leave before you've had the chance to get your own business off the ground), then encourage you to spend another more money for program B, yet more for program C and so on. All the while, this person has not maintained a steady membership in either program for a decent amount of time (over 6 mos.), and has done nothing to help you get started in any of these programs. The common factor is that in each instance, you've paid and quit. This is not what home business, diversification or multiple income streams are designed to be.
It is best to use your common sense when looking into joining a home business. Do your homework, which should include just as much research on the potential sponsor as on the program itself. One of the first questions should be "What else do you promote?" Others to ask are "What have you tried, and were you successful?" or "How many have you tried this year? Last year?" If they do NOT have a stable track record with at least one success that is currenly being maintained, look into another sponsor. It is true that entrepreneurs often leave programs they feel are not working, which could cause the number of programs they try out to increase. However, honest entrepreneurs will not focus on pulling you into every venture out there. And if they claim they've not had success with certain programs, they should not encourage others to get involved in those(unless they have other motives)
My suggestion is simple. Use common sense when evaluating potential businesses and their sponsors. Proper and ample research will never steer your wrong!
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