Scan the sites of almost any Online Marketer and chances are, they’re selling some sort of product that teaches you all about how to create multiple streams of income.

In fact, this concept is so widespread that it’s become abused and misunderstood by newcomers who think becoming an online success means logging on in a single day, launching five new businesses and waking up to a bank account full of money.

The Myth of Multiple Streams of Income

We all know there are a million different ways to make money online. You can launch your own products, become an affiliate salesperson, be a service provider, launch a membership site, or take a dozen other different routes to passive profits.

The problem comes about when an entrepreneur fails to monetize a single stream before trying to build the next one.They get too many plates spinning in the air and all at once, they come crashing down until the person finally gives up in despair, believing all Internet marketing concepts are just a scam.

It is true that you can and probably should develop multiple streams of income. It’s the most natural way to create backend opportunities for your initial product line. For instance, let’s say you begin by building an AdSense site on a niche topic – like gambling.

You start seeing a lot of traffic coming in. As your site begins to make money on AdSense, you then introduce affiliate products on things such as “How to Win at Poker.”

Instead of also starting something else right away, you want to focus on building your AdSense content up to levels that will boost your ranking in the search engine results pages (SERPs) and also test which affiliate items have the highest conversion rates for you.

Once you see maximum returns on your investment so far, then you introduce a new element to our income stream. It might be a product that you develop on How to Play Nickel Slots and Win Big. This way, you get to keep 100% of the earnings and not split it with someone else.

Launching your own product takes a lot of time and effort to get it to take root successfully. At the same time, you have to be capable of maintaining your other income formulas – the AdSense site and affiliate revenue.

If at any time you focus on the newest endeavor and completely ignore the previous ventures, then your income will dip again until you provide some attention to it and run each one as if they’re separate businesses that each need a CEO in charge.

Jack of All Trades…Master of None

You want to take your multiple streams of income journey slowly, but not put it on the back burner forever. You have to get good at one thing – become a master at one thing – before you move on and try to tackle something else.

Anyone who tells you that online entrepreneurs have it easy is lying. Its hard work, but if done properly, it works and provides you with unlimited profit potential like no other business in the world.

Too often in the online marketing world, an entrepreneur will think he’s getting a great education by tuning into (and paying for!) what all the gurus have to say and staying abreast of changes in the online marketplace.

But how often do you get sidetracked and want to jump on to the “next big thing” before anyone else does it? You’re intimidated by saturation and don’t want to miss the boat while many other entrepreneurs go after the goldmine that’s yet to be tapped into.

Here’s where you can stay afloat above the crowds. You want to let everyone else make a fool’s rush to the new concepts while you stay focused and prepared to monetize your own efforts.

Compare your online business to a garden. You can’t plant seeds and expect to see flourishing plants the very next morning. First, you have to space the seedlings apart and give each one room to grow; you have to water and feed them on a regular basis; and, just as a gardener has to remove weeds that could jeopardize the health of their plants, you, as a cyberpreneur, must devote time in your day to evaluating your online strategy and tweak it so that you’re not spinning your wheels and impeding your success.

Don’t let product launches and new ideas get the best of you. Hold onto your wallet and save your purchase for a later date when your schedule is open to developing your next stream of income.

It’s too easy to see the next big thing on the horizon and invest in it just because you’re hoping to hit one out of the ballpark and have a million dollar day. Just keep reminding yourself, “Do I want to spend time and money and only to wind up back to square one in six months, or spend my time wisely and see substantial profits in six months?” Be a wise business owner and your efforts will pay off as others chase the instant profit mirage.

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