Multiple income streams, do you find term confusing? Don't, it's really quite simple.

In world of Niche Markets in Internet Marketing, multiple income streams simply means having more than one source of income. This is achieved by making money from more than just one online business.

Each different web site would generally be a different business. They could relate to each other, but not necessarily. You could have businesses that have nothing to do with each other. Both methods are quite successful.

Let's look at different scenarios. How to market unrelated products? In offline world, we are quite accustomed to seeing a little bit of just about everything sold in department stores, from razor blades to baby clothes to fashion dresses to living room furniture to washers and dryers, and so on.

Is this how it's done in online world? Absolutely, but it is not only method. Mega Internet stores have evolved in such a way that to compete, you must be huge, and have tons of money to finance operation, including cost of ever-changing web site. The competition and horrendous costs leave no room for little guy, so he has to find another way to do business.

Enter newcomer, looking for a way to make a living on Internet. Seeing he can't compete selling a large mix of hard goods and soft goods, he can decide on a "niche" product to market. A niche product simply means specializing in one key product, or just a few related products.

This concept applies to both hard goods (items that must be shipped), as well as to downloadable information products.

This opens up a whole new world of possibilities, and it means a whole different way of conducting business. Specialization is often achieved using mini-sites that sell only one product. The mini web site might have from one to five pages, but usually just a single page.

Your information product that you want to sell needs a web site, hosted by a web hosting provider that provides you their service at a reasonable cost. Let's assume you started selling your product, and after a few months it is bringing in some income. It might amount to $1,000 up to $3,000 per year.

That's not too bad, and is worth keeping, but certainly not enough to make a living with. This is where concept of multiple income streams comes in. During months that your business is building, you could be looking for other ideas. You find one that excites you, and more importantly you do research and discover a good potential for attracting customers. So you go ahead with a second web site.

You have now achieved multiple income streams! Over time you have other great ideas. Actually, you are now up to four web sites with different ideas. Two of them are related information products, and other two are hard goods.

All four are successful. Each one separately does not make enough to live on, but combined four bring you in respectable dollars.

You've picked a great name for your company, made a list of your potential clients, incorporated your business and you're ready to go. What next? Well, you need to find as many ways as possible to tell people you're in business, and why they should do business with you!

One of first things to do is to get business cards printed up and carry them wherever you go. Hand them out to everyone you know; it always amazes me how many people forget to give their cards to friends and family. Even if you “think” your family knows what you do – you might be surprised to find out how little they really do know. Besides, they may have a friend who needs exactly what you offer, and it’s much more professional for them to offer a business card than a scrap of paper with your name and number scrawled on it. Make sure your cards are professionally printed and have no spelling mistakes. This may be first impression someone has of your business - make it a great impression - because you won't get a second chance to do it better.

Make sure your cards have as many to contact you as possible: snail mail, fax, phone, email, pager, etc. Give people as many options as you can. Make sure your card also clearly states what you do – if you just have your name and phone number on your card it’s likely to be tossed in garbage. I make sure I give away AT LEAST 5 business cards a day. People ask, “Who can you possibly give 5 business cards to?” How about: leaving one on tray when I leave my payment and tip for waitress in a restaurant, giving it to receptionist when I check in at dentist/doctor/vet, go to meet with my child’s teacher at school, chat with another parent at swimming pool watching our kids swimming, someone I meet in checkout line at grocery store, etc, etc. If you want to grow you business quickly this is one way to start!