Personal Money Tips

With Christmas round the corner, I thought I’d stop being so preachy about money. I’ll let someone else do the dirty work for me.

MSN has a good article about holiday shopping. If you have not checked it out, this would be a good time. Why? Well, do you prefer to cry or smile when you see the credit card bill after Christmas? It’s up to you.

Me. I’m the cheapskate. We, my wife and I, have done most of our Christmas shopping. Grabbed some good deals when there were sales. Btw, if you think we get cheap stuff, you are wrong. We get good stuff at highly discounted prices. Just a matter of knowing where to find them.

Happy shopping. Oh the article is here. Hope to see you all on the other side of New Year in good financial shape.

Back to creating alternative income channels. Over the last 8 years of trying to build a sales team, I observed these common characters. First of, I say tried, as I have to admit, I failed. Second bit of background, we sell financial products on straight commission basis. There is no basic pay. Besides the pressure to perform as soon as possible, many of our sales people have a steep learning curve.
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Here are some examples I’ve observed where income channels, were created without too much time or damage to your original channel. And this way is quite a common way where many spring board to other business.

Many people think competitive vs. collaborative. They way to go is collaborative. Most clients need services that your company does not offer. Say if you are in the IT industry or any other industry. You could be supplying high end hardware but don’t do the lower end hardware or software.

You could unofficially partner up with companies that do supply it and get a referral fee or commission of out it. There by creating a separate income channel from the ground work that’s been laid. You don’t start from square one.

If you are into selling houses, think of partnering with bankers, renovators, landscaping contractors, alarm specialist, insurance agents and others. Plenty of potential here.

Bottom line. More money, less risk of losing money or customers from you first channel. You get to work less too.

By the way, read why I use the term multiple income channel vs. multiple income source.

Read Alternative Income Channel - Part 2