The Power of Multiple Income Streams by Derek Kemp

The Power of Multiple Income Streams.

Disclaimer The Publisher has strived to be as accurate and complete as possible in the creation of this report, notwithstanding the fact that he does not warrant or represent at any time that the contents within are accurate due to the rapidly changing nature of the life and business. We do not guarantee or otherwise promise that you will earn any particular amount of money. That said, it IS possible to make money online. Thousands of people are doing it every day, and we hope that this report can help you join those ranks! The author of this Special Report has done his best to ensure that the information contained herein is valid, truthful information. However, he makes no claim or warranty, expressed or implied, as to the accuracy, applicability, fitness, or completeness of said information. By reading this Special Report, you acknowledge that you will not hold the author liable for any loss or other damages that may occur as a result of any of the information in this Special Report. This document is protected under international copyright laws, and any attempt to illegally reprint or distribute it is prohibited and will be prosecuted to the fullest extent of the law. Whilst you have not purchased or own this document, which remains the copyright of DelahuntyMoneyAcademy , you are hereby expressly provided with permission to distribute this as a free or paid for Special Report subject to the fact that it must not be edited, modified or changed in any way.

The Power of Multiple Income Streams.

Contents

Page No.

About the Author.

Introduction

The Definition of Multiple Income Streams.

What is Happening in the World Today?

Why You Should Protect Yourself.

Examples of Multiple Income Streams.

Take a look at where you are now.

Simple Ways to Reduce the Risk.

The Power of Multiple Income Streams in Business.

Conclusion.

The Power of Multiple Income Streams.

About the Author. I am writing this Special report based on many years experience and considerable knowledge gained from various very successful people I have met over the years.

For the first 30 years of my working life I and my wife relied on one full time income and one part time income. In 1991 the reality of 1.5 income streams was demonstrated when my previous 15 years secure employment suddenly came to an end in recession with the very large corporation I worked for cutting out its middle management structure virtually without warning.

The strangest thing for me was the fact that my division was pioneering the future by marketing a series of computer based products around the world. As with so many USA based companies when ever things get tough they quickly revert to their core products cutting out anything new.

Even though I received a good redundancy package a 1.5 income stream was suddenly cut to a 0.5 income stream.

Since then I have been developing multiple income streams plus a series of pension payouts to reduce the risk of further financial issues and have been doing this for the past 20 plus years. Copyright 2013 DelahuntyMoneyAcademy.com

The Power of Multiple Income Streams.

Introduction Thank you for leaving your details and downloading or reading this Special Report online, we want to share valuable information with everyone who comes to Delahunty Money Academy and just as importantly explain why you need what we have to offer.

We have written this report so we can share with you an important lesson lots of people have either failed to learn or even if they knew about multiple income streams failed to put their knowledge into action during what is at the time of writing a very difficult time for many.

The world is in crisis and as I write this there does not seem to be a simple solution to the problem. Basically many countries around the world are in debt owing huge sums of money to the world banks. The banking system itself has failed because the people that run them have made very poor decisions when buying what looked like good assets which in fact were even more debts.

Economies are failing to grow and the banks are trying to survive by locking up peopleâ&#x20AC;&#x2122;s cash to protect themselves and are afraid to lend to individuals and businesses just in case they fail to pay back.

The Power of Multiple Income Streams.

If you have any money invested the banks are unwilling to pay any real interest on your investment which means more and more people are finding other ways to grow their investment.

The solution for many is to buy material assets which they hope will maintain their value, others are looking for good solid investments so they can be relatively sure they will get their money back if and when they need it.

Hopefully none of the above is affecting your life style and you are reading this to ensure you can protect your ongoing income.

The situation for many is getting worse as more and more Corporations are cutting costs by reducing their work force and putting more and more people out of work.

In this short report I want to explain to you why you should be looking after number one and ensuring you have plans in place which mean what ever happens to your main income source you have other income streams which can take its place.

The Definition of Multiple Income Streams. The title does give you a clue, but in my experience one personâ&#x20AC;&#x2122;s interpretation of a title can be different than anotherâ&#x20AC;&#x2122;s.

The Power of Multiple Income Streams.

The world multiple is fairly straight forward, yes it means more than one, I suggest over time it means as many different streams of income as possible.

Again income is straight forward, I mean actual profit coming in to your pocket, wallet or bank account.

The word stream is very important and chosen very carefully. Creating an income stream is crucial to your long term success, it is even better if you can make this income stream passive, put another way, a stream which flows whether you do any work or not.

Consider it like a mountain stream which is fed by mountain snow or a glacier, water flows all year round what ever the weather and without any human intervention. This is the ideal income stream.

Just imagine if you had a number of (multiple) mountain streams which delivered you an income every month all year round.

What is Happening in the World Today? What ever your current situation it is important for you to take a look around you often and make sure you now what is happening. Too many people effectively keep their heads in the sand and hope they are safe from the effects of the global situation.

The Power of Multiple Income Streams.

Just being in a job or even a career can quickly change over night, business owners often rely on customers coming through the door or clients needing your services day after day.

Times change, technology changes, peopleâ&#x20AC;&#x2122;s needs change and unless you are monitoring the situation these changes can directly affect your income.

If you are completely reliant on a single income stream then you are at risk. Just imagine a competitor sets up next door and is better at marketing, offers their products at a lower price or offers a better quality service, what would be the impact on your business?

The world is changing, more people are buying online, more people are adopting new technology and more people are realising their jobs are at risk and cutting back on items they previously considered essential.

I was recently in Ireland where the whole financial situation is in crisis, Europe was pouring huge amounts of cash into the country, buildings were rising from the ground just like plants growing in a field and then suddenly the banks stopped lending making large numbers of people virtually bankrupt over night.

On my journey home I was listening to a very successful business owner who ran a Toyota car sales business, he sold on average 26 cars per day before the banking crisis and suddenly his sales Copyright 2013 DelahuntyMoneyAcademy.com

The Power of Multiple Income Streams.

dropped to just 2 a day. Before he had time to react to the problem the bank called in his overdraft leaving him stuck high and dry.

Hopefully you can begin to see why it is absolutely essential to have multiple income streams, everyone needs to protect themselves and ensure if one stream fails they have additional streams of income to survive the downturns.

Why You Should Protect Yourself. You may have already realised why you should protect yourself, but let me just highlight a few other examples of what could happen making it even more clear why you need multiple income streams.

If you have money in the bank which is paying you some form of interest, then be very careful. The recent situation in Cyprus is a very good example of what can happen. For those who donâ&#x20AC;&#x2122;t know, the Cypriot Government took a huge amount of the most wealthy peopleâ&#x20AC;&#x2122;s money (some 30%) to keep the banks afloat.

The banks have very few liquid reserves, most of the money we put into the banks is used by the banks to try and make money. This means the amount of cash actual in their vaults at any time is just a fraction of what they owe to you and me. Most of the cash is invested in currency markets and stock markets in an attempt to cover their costs and bonuses.

The Power of Multiple Income Streams.

If everyone wanted their money out of the bank at the same time the banks would run out of money very quickly, less than 10% of us would get our money back.

In some countries like the United Kingdom the government has guaranteed that a certain amount of the money invested in the banks is protected, it is not clear if they have enough money to pay everyone if the banks failed again.

My recommendation is not to keep all your money with the same bank, as with multiple incomes make sure you have multiple bank accounts with different banking groups. At least if one bank fails you will still have some funds available to you.

Examples of Multiple Income Streams. Let us take a closer look at multiple income streams. The example of multiple bank accounts each paying you some interest is one way of doing it. Personally I would not rely on this as a source of income while interest rates are so low.

Another way of creating multiple incomes is to have more than one job, if one job fails you can at least rely on some income coming from the other job.

The Power of Multiple Income Streams.

If you are in work look for a separate part time activity such as writing information products and perhaps selling them online would enable you to create another income source.

You could write short books on something you know and then sell them directly or via Amazon or EBay. Lots of people do this and often make good money in addition to their full time job. Often they use the knowledge they have gathered at work and sell this information to others in the form of books and video generating a second income source. Take a look around you and see what you could turn into a second income stream.

You might have a skill you can use in your spare time and offer the results of it to others in return for cash. Lots of people have done this very successfully and even decided the results are so good they are able to give up their full time job.

One powerful way of adding another income stream to your income, is to learn how to run Webinarâ&#x20AC;&#x2122;s and then offer the services to business owners who want more customers and just donâ&#x20AC;&#x2122;t have the time to learn. We will be sharing this process with you as one of the first Delahunty Money Academy products, click the link to find out more.

http://delahuntymoneyacademy.com/products.htm

The Power of Multiple Income Streams.

If you have a partner with a skill, why not help them promote what they know or do and generate another income stream. I am not suggesting you have to work all the hours day and night. If you create a number of other smaller income streams you will soon find you have sufficient income coming in to cover your main income source.

Suddenly you realise the power of multiple income streams, no longer do you need to rely on your main income source, even if it suddenly stopped you still have enough income to cover your bills.

Long before you get to this point you should be feeling quite comfortable as your multiple incomes will mean you have enough to cover your mortgage or rent, possibly even your food bills and more.

Build yourself a back up fund, initially aim for 6 months back up and then a year, once you have this fund start looking for additional ways to create further income, the more sources you have the more comfortable and secure you will become.

Never ever just rely on one source, recent events have demonstrated however wealthy you think you are, there is always someone looking to release wealth from you.

My objective is not to frighten you, my task is to protect you and ensure what is yours is yours and what ever happens you still have enough wealth to live as comfortable as possible.

The Power of Multiple Income Streams.

Take a look around you and find as many ways as you can to create income, the best income is passive, the next best is when you hire others to do the work for you and you reap the profits. This is called outsourcing and shortly we will be releasing a book on outsourcing which tells you how and why you should use outsourcers.

We will also be sharing a range of products and services you can sell on to those that need them for a percentage of the profit. We will teach you how to market these products and services and make good money doing it.

Take a look at where you are now. The best way to start looking at any new venture how ever big or small is to start by evaluating where you are today.

Ask yourself some simple questions, for example:

How many income sources do I have today?

If my main income source was to stop at the end of the month, how quickly would I run out of cash? What assets do I have which I would be happy to sell to keep me going.

What do I know others would be prepared to pay good money for?

The Power of Multiple Income Streams.

What could I sell on a regular basis to generate an additional income source?

How many hours would I be prepared to put in to generate a second income stream?

Would my partner be prepared to work with me or do they have another skill which could create another income stream.

Where would I find the information I need to get started.

Simple Ways to Reduce the Risk.

Think through the process very carefully. Donâ&#x20AC;&#x2122;t over complicate the process or try and create something very grand. The simple easy to do things work best. Document your thoughts, highlight the ones you like best and put the others to one side. Only do one project at a time, work at it until you get it making money before you consider setting up a second income stream. Avoid spending large sums of money which are going to take long periods of time to get back. Avoid buying stock, create something which can be delivered over the Internet.

The Power of Multiple Income Streams.

Make sure it is legal and genuine.

The Power of Multiple Income Streams in Business. As a business owner you may have already established a number of income streams for your business, if so well done. Even if you have I can assure you there are many more opportunities which will take the pressure off your core products. Why not take some time out and think through what you offer your customers and I am sure you will quickly see additional ways you can make money. If you have staff, ask them what customers often ask for and you do not stock. Alternatively ask your customers if they would like you to add value to the products or services you offer.

Conclusion. Everyone should ensure they have multi income streams whether they generate your full income or part of your income. The important thing is to protect your financial status avoiding the risk of major changes outside of your control affecting your life. At the Delahunty Money Academy we will be sharing lots of different ways you can boost your wealth and graduate from the Academy wealthy. Just click the link to find out more http://DelahuntyMoneyAcademy.com I hope you have found the content of this report useful, if you know anyone who would like to know more about Multiple Income Streams,

The Power of Multiple Income Streams.

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