Multiple Income Streams, for Business Owners & the rest of us
With most folks today dealing with financial challenges, we all should not just rely on one way to feed our families. These guys put it better than I can:
“Ideally your money making multiple sources of income should…
- Sell to the masses.
- Fulfill a fundamental need for many people.
- Be Low Risk.
- Provide the opportunity for ongoing passive income.
- Require a low staff component.
- Have stable, growing, long-term demand.
- Have low overhead costs.
- Have low start-up costs.
- Have positive cash-flow and low inventory costs.
- Have high profit margins and rates of return.
- Have minimal government regulations.
- Have a unique quality, making it difficult for competitors to copy.
- Be portable.
- Be fun, challenging and satisfying for the business owner.
- Provide opportunities to uncover other money making MSI’s. “
For a complete list, see The ABCs of Making Money book by Dr. Denis L. Cauvier and Alan Lysaght
Worth Considering while your build your business.
Joe
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