The Myth of Multiple Streams of Income Making You Rich

The Myth of Multiple Streams of Income Making You Rich

Hey guys,

First off, I’m sure you can tell I’ve been e-mailing and posting much more as of late.

I figured I would engage my list a bit more and see if I can get out 3 or so e-mails and blog posts a week, as long as they have at least 1 good nugget in them.

Today I want to talk about something that I really should take my own advice on, haha.

So lately I’ve had various people contact me with project ideas and such. Some have good ideas and I feel they would be successful if they initiated the steps to get started.

Often they want me to come in and help on the marketing front, with the funnel, and they will provide the product content.

Other times it’s to do a campaign on a rev share basis. So, they pay the expenses of the campaign and give me a profit sharing. Think of it as them paying to watch a live case study and be involved in the process.

Haha, maybe I’ll do that one day. $5,000 per person, 10 people in the group, and they can get profits from buys that I do with their money. That could be interesting.

Anyway, the point is, I’ve had to turn away several of these requests as of late, primarily due to my plate simply being too “full”.

To give you an idea, this is what my project scope looks like right now:

- upcoming membership site with an experienced partner
- launching an info-product in the MLM market in the next week or 2
- Already doing prelim testing for a niche product I can’t talk about
- Our fitness product (have neglected this too much)
- My IM products and daily stuff that goes with that (like writing this email)
- My actual affiliate campaigns
- Our iPhone App and Website,
- Limited coaching clients I still take on

In my opinion, this is FAR too scattered and begins to wear on you, unless you have really strong partners who are carrying a bulk of the work load.

For a couple of the projects listed above, I have good people I’m working with that get a lot done without me, which is great.

However, if someone came to me with a list of projects above and said “help me find clarity” or “what should I be doing?”, I’d tell them to eliminate all but 1, mmaaayyybe 2!

I’ve mentioned Marvin to you guys before. He had such accelerated success because he focused his time and attention in on ONE market, and even on ONE traffic source primarily.

I tell this to aspiring affiliates, product creators, etc., all the time.

I’m now spreading out more because for one I have capital to work with, and two, I feel I’m able to work this load right now.

But, I see tons of affiliates jumping from one offer vertical to the next, one traffic source to the next, never going deep on any of them.

I think it’s because by nature we tend to try and hit home runs all the time.

In the movies, Rocky is down and out, and all he needs is a montage, which takes about 5 minutes in the film, to get world class skills and conditioning to defeat Ivan Drago. (that reference probably made no sense for the 20-somethings).

But that’s not the real world.

If you’re an affiliate, you need to understand that if other affiliates are making an offer profitable, and you’re not, there is something wrong that you’re doing.

Often your affiliate manager is a good resource on what verticals and offers are working with what traffic sources.

It’s up to you to decide where you want to focus, but don’t necessarily expect huge results right away. Go deep, within your target market and traffic source.

You can diversify later, but almost all wealthy people had their first real breakthroughs focusing in one channel/market in the beginning.

Case in point. I get a lot of different coaching requests. You wouldn’t believe how successful some of these people have been in other markets or businesses.

Why did they stop?!

Talk soon,

Chad Hamzeh