Until recently I kept trying to use each new product I purchased on it's own. I was trying to achieve the same results the product owners were claiming were possible. When it I didn't achieve these results I would get frustrated or dis-illusioned and give up. I sometimes bought something else instead and started to try that before the other product had been given a chance.
I then read a paragraph in a product I bought which explained why they recommended multiple income streams.
They described the following scenario -
There are 2 companies selling cans of soda. One company has 1 vending machine and charges $1 for their soda. Their machine is in a prime location and sells 1000 units per month. The other company has 10 vending machine and charges 10c per soda, their machines however are in less desirable locations and each machine sells 100 units per month.
Company A = 1 x 1000 @ $1 = $1000
Company B = 10 x 100 @ 10c = $1000
Looking intially Company A sells more units out of its 1 vending machine and maybe is the best option. Now imagine that a vending machine breaks down at each company and it cannot be fixed for a month because they are waiting for a part to arrive.
Company A = 0 x 0 @ $1 = $0
Company B = 9 x 100 @ 10c = $900
Company B is still making money even though they have 1 machine broken. Company A has made no money because they put everything into just 1 machine and that is current broken.
This is the power of multiple income streams. If each stream earns a little then when they are added together they can become alot. If 1 one these income streams no longer makes money then not all our income has been lost.
Wednesday, 25 February 2009
Where have I been?
I know that I have not posted on here for a long time but my wife recently gave birth to our second child (another little girl and yes she's lovely) and as a result I have not been able to spend any time at the computer. I will be rectifying this now.
I shall update this as often as my girls will let me.
I shall update this as often as my girls will let me.
Is Sold, Dispatch Now Worth It?
There are increasing numbers of people who are listing their goods on Amazon through Amazon's Marketplace facility. Amazon's Marketplace is similar to Ebay in that you list your product and wait for someone to purchase it. However unlike Ebay you do not have to pay for the listing upfront. You only pay Amazon once the item is purchased. In fact you do not actually have to give Amazon any money at all as they take their cut from the price paid the buyer of the item sold.
Sold, Dispatch Now! is system designed to help people make money through Amazon's Marketplace facility. It's creator, Sharon Fussell, is not claiming that it will make you rich but you can earn extra cash doing this, and in these troubled times extra cash is always useful.
It takes you through the whole process of using Amazon's Marketplace. From setting up an account, to listing your items, to dispatching your orders. It uses books as examples of the items being sold but pretty much anything can be sold as long as it has a barcode or ISBN number. It also takes you through what to sell and how to find replacement stock.
I purchased this in 2007 and listed a number of books I had read. Within 2 days of listing these books I had sold my first one, I was hooked. I have consistently sold books on Amazon ever since. I have also sold CDs, DVDs and computer games. Some of the computer games were very old (over 8 years old) and they still sold.
Would I recommend this to anyone? Yes I would thoroughly recommend it. In fact I have recommended people sell their items on Amazon rather than Ebay as I find it far easier and friendlier to use.
Sold, Dispatch Now! is system designed to help people make money through Amazon's Marketplace facility. It's creator, Sharon Fussell, is not claiming that it will make you rich but you can earn extra cash doing this, and in these troubled times extra cash is always useful.
It takes you through the whole process of using Amazon's Marketplace. From setting up an account, to listing your items, to dispatching your orders. It uses books as examples of the items being sold but pretty much anything can be sold as long as it has a barcode or ISBN number. It also takes you through what to sell and how to find replacement stock.
I purchased this in 2007 and listed a number of books I had read. Within 2 days of listing these books I had sold my first one, I was hooked. I have consistently sold books on Amazon ever since. I have also sold CDs, DVDs and computer games. Some of the computer games were very old (over 8 years old) and they still sold.
Would I recommend this to anyone? Yes I would thoroughly recommend it. In fact I have recommended people sell their items on Amazon rather than Ebay as I find it far easier and friendlier to use.
Thursday, 5 February 2009
What Have I Been Successful At Online?
Of all the things that I have tried making money at online the only one I would consider that I have been most successful at is selling items on Amazon.co.uk.
I didn't know that you could sell things through Amazon until I read Sold, Dispatch Now!. I started by selling books and old computer games, and I mean old. I sold a game that was about 8 years old for £25. I have lots of books and I mean lots. I have sold most of the ones I have read now. Which still leaves me approx 200 - 300 still to be read.
It is extremely easy to join and implement that I much prefer it to selling on Ebay.
I didn't know that you could sell things through Amazon until I read Sold, Dispatch Now!. I started by selling books and old computer games, and I mean old. I sold a game that was about 8 years old for £25. I have lots of books and I mean lots. I have sold most of the ones I have read now. Which still leaves me approx 200 - 300 still to be read.
It is extremely easy to join and implement that I much prefer it to selling on Ebay.
What Secret Have I Discovered?
In the previous post I mentioned that I had discovered the secret to making money online. Now this secret is not new or big or even clever, it is just what has made everything click for me.
What is this secret?
It is to work out how much I would need to make each day to meet my lifestyle choice. What does this mean?
Well my ultimate goal is to make $5000 per month online. To achieve this I need to make $167 per day online.
My first goal though is to make $100 per week online. To achieve this I need to make $14.50 per day.
$14.50 per day. That doesn't sound too hard does it?
So how do will I achieve my goals, with the other idea that has finally clicked into place. Multiple Income Streams. Again this is not a new idea but it has taken me a long time to fully understand the concept.
What is this secret?
It is to work out how much I would need to make each day to meet my lifestyle choice. What does this mean?
Well my ultimate goal is to make $5000 per month online. To achieve this I need to make $167 per day online.
My first goal though is to make $100 per week online. To achieve this I need to make $14.50 per day.
$14.50 per day. That doesn't sound too hard does it?
So how do will I achieve my goals, with the other idea that has finally clicked into place. Multiple Income Streams. Again this is not a new idea but it has taken me a long time to fully understand the concept.
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