To Make Money at Home Online, Is It "Do One Thing" or "Many Things"?
We all know that there is huge growth in those who want to make money at home online, and we have gone through the reasons for that in previous articles. But, for many, the question is - do I do one thing to generate income, or do I try many things? Like a lot of such debates, there is no absolute right or wrong, but for the purposes of this article let me put forward the argument for developing a number of streams of income. Let me be upfront with my own personal bias - I am in favour of developing more than one income flow! I actually do it! So, now that I have got that out of the way, let me expand on my theory. Chunking your portfolio. What does this mean? Well, it refers to what Charles Handy wrote about many years ago. For those who have not come across Charles Handy before, look him up and buy some of his books to read - he is a real treasure! The principle he expounds is that the concept of just doing one thing that generates your only source of income is a seriously flawed one. He expounds the virtue of having a number of irons in your portfolio fire. If you read any of his material I think he makes a compelling argument. Spread your risk. When you are investing for your retirement, you do not invest all your money into one type of investment. You would not invest everything in shares, for example, you would spread your investments over a number of different areas. So, why would you do it differently for your income? Your skills are transferable. The skills you have enable you to work in different areas. For example, if you are highly skilled at writing, then you could make money at home online by writing and monetizing your own blog, you could hire yourself out as an article writer to others, you could write your own e-book, you could ghost write for someone else, you could write copy for your own or other's websites. Broadens your expertise and value. The more you stretch yourself outside of the single narrow niche, the more you will grow your skills and knowledge accordingly. The more you do that, the more value you can add to others. You become a much more valuable resource. More fun. Diversity is much more fun! That's a fact. The way to keep yourself fresh and vibrant is to be involved in many different things in your life. The more vibrant you are, the more creative you will be and the more creative you are, then the more productive you will be! These are my key reasons for diversification. I know that many will say that going this route will cause you to lose focus and I understand the point that is being made. But, I would argue there is a difference between being diversified and being scattered! Diversification is a clearly outlined strategy to deliver on a number of key projects or streams of income. Being scattered is simply jumping from one thing to another without completing anything. My argument is that being diversified requires discipline and planning in order to be successful at it, and so does working on a single source of income. I would argue that I have come across many people who only work on one source of income and I would describe them as scattered. So, that is not a strong enough argument against diversification. We are also all multi skilled - remember the old adage "I can walk and chew gum at the same time"! What do I want you to do? Do an exercise on a blank sheet of paper that brainstorms all the areas of work where you would have the possibility to make money at home online. Then pick a few - say 3 or 4 - and start doing research into how you could convert those into other income streams. Do not pre judge or set obstacles in the way as you build up this list and research - just do it!!Get a free ebook that will help you build your online business by visiting http://www.bestbuysoninternet.com Article Source: [http://EzineArticles.com/?To-Make-Money-at-Home-Online,-Is-It-Do-One-Thing-or-Many-Things?&id=6151280] To Make Money at Home Online, Is It "Do One Thing" or "Many Things"?Comments [0]
