Lesson 1 - Diversify
(Even If You've Invested With the
Best Network Marketing Company EVER)

Even if you are invested in what you believe is the best network marketing company around, diversify!

Here's why business diversification is important:

It Reduces Your Risk. Not all online businesses are stable, no matter what they tell you. If they are private companies, they are so loosely monitored by regulators that they might be able to keep you in the dark about their financial troubles until their shutters slam down - for good.

So that you don't have to worry about these things, invest in the online business industry like you would buy a well-balanced and diversified stock portfolio. Make sure you always have businesses to fall back on if one of them fails.

It Gets You to "Yes" Faster. If you have an expensive product that not many people can afford, you may have to wait longer to turn a profit.

If you invest also in a business or two selling cheaper products affordable to a wider range of customers, you move into the black sooner.

That's because it is easier to get people to take risks when they are being asked to pay something reasonable. People are emotional buyers and will go very far to protect themselves against feeling ripped off, even when a high-cost product is fairly priced. A lower cost product is less likely to put them on the defensive.

Also, with different products in your portfolio you satisfy more types of demand in the marketplace, increasing your chances of making sales a greater proportion of the time.

How Can I Diversify? There are all sorts of income sources available to you online. Here are some examples:

• Top tier direct sales (each claims to be the best network marketing company in the industry)
• Affiliate marketing referral programs (where you recommend your picks of the best network marketing company to your audience)
• Sales of ebooks and online courses
• Banner ads such as AdEngage, AdDynamix and BannerBoxes
• Surveys
• Google AdSense, Yahoo! Publisher Network, Chitika and other forms of paid advertising
• Donations

You will need a website of your own to take advantage of most of these opportunities.

I will go into the various income streams available to you with online businesses in more depth in the Power Wealth Creation Newsletter..

Next: Develop a Website Presence

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