October 9, 2009

Diversify Your Residual Income: It Pays To Be Safe

Last Updated 10/11/14

This blog really started as an eHow blog as I wanted to chronicle my exploits writing fascinating and riveting articles such as how to get a real estate license in Missouri and how to find a FSBO MLS listing online (article doesn't' exist any longer) but after some time I realized that this focus was too limiting. For instance what would I do if eHow were to close down? My earnings would be gone and this blog would be dead. Also, what about all my other freelance writing exploits online such as my longevity blog or any number of other projects I might take on? (I've got some in the works.)

A Goal: Multiple Residual Income Sources

Well, that’s why I did the major rebranding early while still in this blog’s infancy. I want to be able to discuss the many residual income projects I’m working on here as my goal as previously stated in my post: Income Diversification, is to diversify my income streams, my writing subjects, and my functional use platforms.

Diversify Functional Use Platform Use

What do I mean by this? I mean, right now my prime sources of residual income are via Adsense, Amazon Affiliates, and eHow earnings (which are largely driven by Adsense). If Adsense were to disappear most all earnings would go with it. Currently all of my blogging occurs on Google Blogger. This is another platform issue because I am 100 percent reliant on Blogger remaining operational and free. If something’s changes I've only got eHow to fall back on.

I don’t even have a hosting account anywhere thus everything is hosted on Google’s servers such as Picasa and Blogger. I should have a backup plan. I should experiment a little worth Wordpress as a way of diversifying. I should work on setting up static websites as a way of diversifying out of blogs. I should sell actual product somewhere to diversify out of contextual advertisements. I should do many things to safeguard my residual income.

Rebranding For Diversification

Rebranding this blog is a step in that direction and I hope to follow up on this post in the future with actual steps I’m taking to do accomplish better diversification. For now I’ll say that I’ve dipped my toe in the water of diversification by setting up an affiliate sales relationship with Cyn Vella. I’ve got an ad for her eBook on increasing your eHow earnings (ebook is not applicable any longer) on my sidebar. If anyone is writing for eHow it is in their best interest to make sure to maximize their earnings; this book will show you haw Cyn got to be one of the best paid eHow writers.

Additionally I’m in the planning and collaboration stages of a couple projects which should help me diversify my residual income. I will however bring these projects up in more detail when the time is right. Thanks for following along!

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