This month’s second small business marketing newsletter was about having multiple streams of income, which got me thinking about how we should choose those streams for ourselves. I have a confession to make…I am a huge proponent of multiple streams of income and I have an entrepreneurial spirit so I spend lots of time considering new things I COULD do to increase my business opportunities. This post is about what I (and you) SHOULD do to maximize my time and effort and minimize pain!

John Jonas gave the best description I ever heard about how to pick what to do. He said you should never get more than one step away from what you do now or more than one step away from the kind of customer you serve now when deciding new things to try.

Here is my one step approach for Marketing Artfully. The three main things I do for my business are blogs, information products and speaking. Because information products often have affiliate programs, starting my own or joining someone else’s is a good fit for me and makes sense to add to my resource page. Also, doing internet masterminds involves speaking (which is one of my things) so it is okay also.

Some other things for me that would be a good fit are things that provide services to entrepreneurs and small business owners, social networking items and other business related items.

Now here comes the brilliant part – when I get a great idea of something to do that is NOT one step away, I can drop it quickly. Instead of spending time and energy on researching something (or more likely diving into something) that will not help my business, I can easily determine if it is a good fit and, if not, move on!

This system works for ANY business! My buddy Deb Ward of Deborah Ward and Associates is a realtor in the Tampa Bay area. You can see from her blocks that there are some things that match well with her business model and some that don’t. She does coaching, sells real estate and owns a team of realtors. Getting referrals and owning shares in a title company are great for her, she could also add speaking to realtors easily because of her coaching focus. BUT, adding non-real estate related items would dilute her message and efforts.

So, to all you entrepreneurs out there considering new ventures…make sure that you are checking your blocks and keeping on track for success!!

Related posts:

1. One-offs – How they cost small business owners time and opportunity!
2. Small Business Marketing – Success Is HARD!
3. What makes you a expert? Small Business Success!

So I wrote a FABULOUS post about arbitrage over on the Thrive Contact System website. Arbitrage is the practice of taking advantage of a price differential between two or more markets.

I always feel like Affiliate Links, Buying shares in a company you believe in, and Leads are a lot like arbitrage – making money for nothing, multiple streams of income, call it what you like – it means more gold crossing your palm!

Affiliate Links – If you work with companies that you like and recommend to others, it may be a fun idea to place affiliate links on your website. These links can be incorporated into your posts, added to a link page,  OR you can have a banner like the one on my right sidebar. That link is to AWeber, a great email newsletter company that I recommend to my clients and friends. I also have a link to Vistaprint which I recommend to EVERYONE. Your readers can sign up, work with a quality company and you can make some money.

Writer’s note – I don’t EVER put a link to ANYTHING on my sites that I would not recommend to my father. When I use that criteria I wind up making great decisions about what products to recommend!!!

Buying Shares In Companies You Believe In - If you want to make some good money, buy shares in small local companies that you do business with which have great leadership! I own shares in a Title Company (Star Title Partners) which is headed by Mimi Patrick who does a fabulous job with Short Sales. I recieve periodic dividends from them when the company is running in the black! That having been said, I also work alot with Somers Title where Joyce and Diana also do a great job and help with my Speaker Series!

So how do having these kinds of resources lead to leads? If you become a trusted resource for great companies and services, if you recommend people with integrity, if you make sure that YOU work with integrity – people will want to work with you! They will visit your website or blog to find out what you think and who you trust!

I get requests A LOT from companies who would like to have access to my readership and client list. They think that the way to get more clients is to have someone like me recommend their services to my “people”. Sometimes they offer big dollars to “recommend” them. I don’t do that. If it is not a company that I believe in, you won’t hear about them!

While it is great to generate extra income, don’t do it at the expense of your values and integrity!

Related posts:

1. Online Marketing – Internet Leads ARE Real Leads
2. Is Honest Affiliate Marketing An Oxymoron
3. Small Business Affiliate Partner Programs