One of the biggest mistakes any home based business entrepreneur can make is to put all your eggs into one basket. What I mean by that, is only having one source of income. My intention isn’t to scare you into thinking that the opportunity you are with is going to shut down tomorrow, but what if? It’s better to be prepared than not.
Without taking too much focus and attention away from your main business, there are ways to make money online outside of your primary home based business choice.
I’ve compiled a list of three ways to make money in addition to your home based business. Some are links, some aren’t. Enjoy and feel free to suggest more ideas to add to the list.
- Adsense – For those of you who don’t know what Adsense is, it’s Google’s advertising network. By putting Adsense on your site, you are agreeing to show other people’s relevant ads. When a visitor clicks on the ad, Google charges the advertiser and pays you a portion of that payment.
To use Adsense, start a blog in the niche related to your home based business opportunity. Try to keep it unique and related to your business topic. So if your business is related to health and fitness, that would be the topic or main theme of your blog. Place the ads in the sidebars, in the header or within the content itself. Google will then show ads related to your blogs topic.
Note: Don’t panic if you don’t see the ads immediately after placing the code on your site. It takes a bit for them to start showing up.
- Affiliate Products – Becoming an affiliate with products you use to promote your business is a great way to generate some extra revenue, even from your own team. For example, if you frequently use bandit signs in your marketing efforts, and they are working for you, you will obviously recommend that to those you sponsor. Why not generate some income from it. Depending on the volume of referrals and the cost of the product, this could be a full time income on it’s own.
Not every company offers an affiliate program, but if they do, you’ll see a link for it on their site. If it’s not apparent in the navigation bar, look through the links at the very bottom of the site.
- E-Books – Information is valuable, especially when it will help others get the results they are looking for in their business. E-books are a great way to do this and can also be a great way to up sell your opportunity. All you do is write out a very clean, easy to follow guideline and promote it on your website and in your social networks. You can charge something small, such as $19.95 for it.
One of the great things about E-books, is you can include your affiliate links in them for some extra revenue. So, if the topic of your e-book is “How to generate leads using Twitter,” you can find affiliates offering products or services to help people generate referrals with twitter. This technique works best if you have personally experienced results with anything you recommend in your e-book.
So there you have it. All three of these methods are great ways to generate extra revenue right along side your current business, and can also help promote your business and grow your team.