Never Rely On One Income Stream!

Discussion in 'General Advice' started by Barb Thornback, Jul 22, 2011.

  1. Never ever rely on one income stream when working online.

    You never know whats going to happen from one day to the next.

    1. CPA offers de-activate
    2. Google change algorithms
    3. Classified Sites change terms i.e clickable links no longer available.
    4. Articles de-rank
    5. Websites can be de-indexed by Google
    6. Products no longer available
    7. Website rank changes
    8. YouTube deletes accounts and or videos
    9. Facebook takes away publishing rights on fanpages
    10. Paypal freezes account
  2. talfighel

    talfighel Silver Member

    Yeah, that is some great info. Many people just focus on one thing and this can lead to disaster.
  3. dmitch31

    dmitch31 New Member

    Barb I couldn't agree with you more.

    I would take it further to actually say diversify your income. Not only that, but diversify EVERYTHING. Use more than one affiliate network. Use more than one payment provider. Have more than one bank account. Don't have any part of your business tied up in one entity.

    There are other payment providers other than PayPal. I'm not saying not to use Paypal, but also know that there is Google shopping cart and Amazon payments. Use all of them. If Paypal freezes your account, you're goose is cooked until they decide to unfreeze it.

    Also, it's easy to get additional free bank accounts. Check out ING Direct for a free online checking account. Use your options.

    I have some friends that had worked very long and hard to create a gambling website. It was working for them, but due to some sort of scandal, the bank that was tied to their credit card processor got their assets frozen. Because my friends did not have more than one credit card processor in place, their business went in the toilet. It was over just like that.

    Barb's advice is good. Listen to it!

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