Diversify, diversify, diversify.
In the personal finance world, that concept is sometimes hotly debated.
Yet, most of the smartest investors tend to agree with it, even though some may buck the trend.
Why It’s Smart To Build More Streams
I was just talking to one clever reader of this newsletter today, and he was telling me that he’s interested in diversifying his affiliate revenue streams.
And the most clever part?
His current stream is still working!
He’s smart enough to be looking ahead and realizing that much of business…life…and definitely affiliate marketing is impermanent.
You never know what’s going to happen. Or when.
…And that’s where diversification comes in.
Why Diversification Will Make Your Life Easier
Diversification is a good idea any time you’re in a world of risk.
Over the years, I’ve learned that lesson the hard way.
I’ve had just about everything shut down, banned, slapped, or taken away:
Some fun lessons in fragility that I’ve learned include:
…Never depend on one job
I had a job where I was making 5 figures/month – and within 6 months, I was “negotiated” down by the partners to a much more modest 4 figure salary… and a few months later, I was quietly moved to a new position earning half of that…
…Never depend on one traffic source
I had a previous business that was 100% dependent on Google Ads traffic.
In what was supposed to be one of my most profitable months, google decided to suspend all of my accounts until I modified my landing pages to be in compliance with their terms (missing out on 5 figures of revenue)
…Never depend on one affiliate offer
Affiliate companies, traffic sources, methods, offers, and networks changed constantly.
Offers go down. Companies change their mind. Payout structures get changed (Amazon). Companies outgrow their affiliate programs that got them started (Clickfunnels).
And sometimes companies disappear entirely.
There are dozens of reasons that you should never rely on a single affiliate offer.
You should always be looking to diversify your methods, traffic sources, offers, and revenue streams.
How To Diversify In Affiliate Marketing
It’s simple really.
Always be learning.
Always be looking for new offers, new teachers, new methods.
Test them out small in your spare time when you’re not scaling up what’s already working.
Test lots of ideas and methods – out of the many that you test, look for one to emerge as a leader of the pack, and then pour some more energy into it.
You should always be testing, and always be learning.
Looking for the next stream to start “flowing”.
Some Places To Start Diversifying
I’ve shared a few methods for you to get started diversifying your affiliate income streams, depending on your budget:
- No Budget – Clickfunnels Affiliate Bootcamp | A free class with lots of great methods
- If you have no budget, it’s time to learn.
- Become obsessed, and learn from everyone – take notes.
- Eventually, a method will come across your attention that you can try for free and it can get you some traction.
- Low budget – Empire | A course with lots of free traffic methods for affiliates
- Medium Budget – YT Evolution | Which I mentioned yesterday would be a good place
The BEST Time To Start Diversifying
“Always Be Testing” – That’s a good general rule in life as well.
And another lesson I’ve learned the hard way…
The BEST time to start diversifying is BEFORE you need to.
As my dad says, you should “make hay when the sun is shining”
Meaning…when things are good…when you have spare creative energy, money to invest, ideas, etc. is the BEST time to build more streams.
“The Nomad” Brad
👇Resources To Supercharge Your Marketing
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