Multiple Streams of Income? How many times have you heard that phrase? Every success coach I’ve ever listened to, every success book I’ve ever read and in every success seminar I’ve ever attended the virtues and benefits of multiple streams of income have always been eulogized. In fact they have made us to believe that without multiple streams of income you can never really create wealth that will amount to anything.
I agree with them. Totally!
That is why right from day one of my venturing online my desire and drive was to, as much as possible, seek out ways that would help me build multiple streams of online income. I discovered right from the onset that building websites focused on various niche markets was the best way of achieving this. I did this for some time before I started building blogs.
I soon discovered however, that running a blog was a time consuming task. Interacting with and building connections with your blog readers, promoting your blog on social networking sites and many other tasks involved with blogging demands a whole lot of time and effort. Soon enough most of my niche sites where abandoned in my bid to concentrate on my blog. Not quite too long I discovered that the revenue from the blog alone was nothing to be proud of. So I soon went searching for some other ways of building multiple streams of income that will still allow me focus on my blogging activities.
WordPress Blogging Platform Offered A Perfect Choice!
After trying different options I was able to pick out a few ways any one can easily build multiple streams of income on the net. As a blogger who have used the wordpress platform for some time I can truly say that by using the wordpress blogging platform you can build multiple niche sites and put this powerful wealth building principle of multiple streams of income to your advantage.
But you will be wondering: if running one blog is time consuming then how do you run multiple sites and still be able to do it effective?
Just hold on and let me show you just 3 ways you can do this using the wordpress blogging platform to build multiple streams of online income.
Strategy #1: Build Static Niche WordPress Blogs
One of the very first ways I discovered for multiple streams of online income through wordpress blogs is to build static niche blogs. These are blogs set up just like static websites. Once they are set up you don’t need to regularly update them. Here is a simple guide to building static niche sites with wordpress.
>>> Decide On Your Target Niche – of course every niche marketing strategy must start with you knowing which niche market you want to target. If you still don’t know how to research niche markets then read tutorials on researching profitable niche markets. You will find a truck load online!
>>> Create Your Content – because you’ll be targeting many markets that you know nothing about, it is a wise choice to either join PLR sites where you can have an on-going supply of content for your sites or hire freelance writers.
>>> Purchase A Domain Name And Webhost – make sure your domain name is search engine optimized. You can do this by simply buying a domain name that has the keywords of your target market.
>>> Install Your WordPress Blog And Optimize It With The Right Plugins – If you are already using a wordpress blog this shouldn’t be a problem to you.
>>> Load Up Your Content – you can load all of them at once as pages instead of posts or schedule them to post over a few days or weeks. If you load your content as pages you will need to set up your link structure. This is done the same way you set up links on your blog but instead of the links pointing to outside sites they point to your pages. And if you set them up as post then instead of showing your sidebar as “recent posts” simply edit it to read “Featured Articles” or something similar.
>>> Create A Page For Your Home Page – this will be your welcome page. You should optimize it for the search engines. This page is to act as a pull for your site visitors to read more of your articles.
>>> Take Your Welcome Page And Make It Your Home Page – this is done in your admin dashboard. From Settings – Reading and from the options of whether to display recent post or a static page, chose static page and then select the page you’ve created as you home page.
With this strategy you could easily build multiple niche blogs dominating various niche markets.
However, there are a few challenges. These include:
(i) Creating articles for the various niche sites. Of course you cannot be a master of all the markets you’re targeting. So trying to come up with the articles yourself is practically impossible. The way out of this is to either use freelance writers or join a good PLR site where you’re provided with quality articles every month.
(ii) The second challenge is that of generating traffic. I’ve discovered that this is one of the greatest challenges. Static wordpress blogs do not have the kind of favour that regularly updated wordpress blogs have with the search engines. And so search engine optimization (seo) strategies alone will not do for traffic generation. In conjunction with other traffic generation methods you’ve been using as a blogger you will need to invest in pay per click advertising.
Strategy #2: Build Automated WordPress Blogs
I must say that I’m not a good fan of this strategy. Reason is I believe in fresh and original content for blogs. However, I have discovered lately that more and more content auto generating software are being released into the market. Having observed how various bloggers are using these software I have the idea that setting up niche blogs using these software could be more productive actually.
The concept is simple. Do your research and decide on the niche you want to target. Buy a domain name and hosting. Set up your blog using the content auto generating software. Use keywords to target the content wanted. Monetize your blog and then drive traffic to your niche blog.
Now ever I’ve been nursing the idea of using auto content generating software for this strategy for sometime now. Though I’ve never really used it but I’m still convinced that it will be profitable one. Maybe someone out there will want to experiment with it. I will be glad to hear of the results. And remember to give the credit when those results come pouring in!:)
Strategy #3: Build Niche Article Directories Using WordPress
Holy Cow! I fall in love with this strategy the very day the idea came into my head. Not quite long ago I came upon Article Directory which comes both as a wordpress theme and plugin. It helps you to easily set up your own article directory. Here is an example of an article directory that I recently set up using article directory in a matter of minutes.
After experimenting with Article Directory I realized that this could be a powerful solution to some of the challenges of the other two strategies above. The set up is simple. It can be done in a matter of minutes. You get fresh content on a regular basis. And traffic is assured once the directory gets established.
However, instead of accepting articles in all categories you could build a niche article directory. Restrict the articles to a particular niche and very soon you’ll be dominating that niche with fresh unique content. The search engines will love your directory and rank it high for the target niche. Once the traffic builds up think of ways of monetizing it and you have a cash pumping machine in your hands. Like I said this simply removes the challenges of the other two strategies.
So there you have it, the 3 simple strategies that can help you build multiples streams of online income. Of course there are many others. I think building multiple streams of online income is becoming much easier by the day. You can only be limited by your imagination. But why don’t you try these ones out.
Maybe this article has triggered some ideas in you already. Why don’t let us know of them?