For many years now, talk about multiple streams of income and how important it is to have more than one source of income has been circulating. In addition, seminars on how to be debt free and how to get rich quick seem to attract billions of people. I must admit that I am guilty of attending many such seminars, and reading an equal amount of books on those topics. I even tried to get multiple streams of income by paying the initial costs and maintenance costs to start making money in various programs.

What I will discuss here is how effective are these sources of multiple streams of income.

Newspapers, magazines, television programs and websites have all been used by promoters of home-based businesses to encourage people to join them in making multiple streams of income. The response they have received from their audience has been significant. There are a great variety of multiple stream packages being offered on the market. The companies offering these streams that have similar products and services try to increase what they have available to their consumers. In this way they attempt to attract more people than their competitors.

My observation is that most people are skeptical of these opportunities, some of which have been dubbed as pyramids. They are likely to think these streams being offered are scams, and so they may not even think of pursuing any of them. Some of these skeptics however, eventually become convinced to try the product or service being offered. They become convinced that it is an exceptional company, so they make an investment in the opportunity. The Opportunity is really referred to the chance to make a significant amount of money. Many of these companies suggest that you do not quit your day job (good advice), because the chance of earning sufficient money quickly is less likely.

Sometimes people have tried the product or service and they are impressed with what is being offered. The sales representative who introduced them to the products or service may encourage them to start making money by offering the products to others. In many cases, this explains how people get involved with the opportunity initially. I am sure most people are aware of the presence of these companies and their ways of reaching potential clients. My question though is do they deliver what they promise? Is this a viable way to make money or even have the possibility of having multiple streams of income?

Let me address that question by stating that I have been approached by many sales representatives to join their company, or to use their products and services. The first company was Amway. I was convinced to join, partially because I had absolutely no source of income at the time, so I thought I had nothing to lose by joining. I soon found out that I had more to lose and less to gain. I was purchasing the products monthly, and I did not have sufficient customers to earn that amount of money back. Eventually I had no customers and I was merely paying for the products. This catapulted me to the end of my Amway experience.

When I did not succeed in making money, I thought perhaps it is the business. I thought I should try another one. Needless to say, I tried a host of other businesses which included Discovery Toys, Avon, Pre-Paid Legal, Financial Destinations, U-First Financial and the list goes on. I kept trying different companies with the hope of finding the one that would be an additional source of income, but I eventually lost interest in dealing with these companies. Let me hasten to say that I am not critical of any of those companies nor their policies. As far as I am concerned they have operated with integrity and they delivered what they promised. Perhaps the method that they are suggesting to me to make the streams of income is not for me. Yes, they highlight the people who are making thousands or even millions of dollars annually. Their marketing skills attract many, but just maybe, some of us who try to emulate them should try something else.

It took me years to discover that if other people were successful in those businesses, there is not guarantee that I will have the same success. In fact, my problem was that I did not even get back my initial investment through any earnings I received. I should have seen that as a warning and then proceed to opt out of the business. I could have saved a significant amount of money if I had canceled my membership and monthly fees sooner. This happened for many years with various companies. Can anyone else identify with my experience? Am I the only one so gullible?

More recently I have come to realize that people like me are not showcased. I was not an asset to any of the companies. People joining for the first time do not need to hear the negative reports or statistics of people who do not promote the company as much as they should. The people who are not an asset to the company are never showcased. Therefore people are motivated to join because they are under the impression that they will be successful. It took me years to discover that if other people were successful in those businesses there is not guarantee that I will have the same success. In fact, my problem was as soon as I discovered that I was not earning my initial investment, nor the monthly fees I had to pay just to maintain the website or to receive a fresh supply of sales material I should have opted out.

I still believe in the necessity for multiple streams of income, but I have a different opinion of the sources of these streams. I now believe that instead of being pressured by a company to develop their thought, idea or dream why not develop your own. You too have skills and particular interests. Your choice of business venture could be in the line of your current interests. You may like yard work, for example, why not do the research on starting your own landscape business? You may like babysitting? Why not start your own child care facility or babysitting business? You will form your own policies and guidelines. You will build your own website. You choose your own customers rather than expect someone to do that for you. You create your own contracts, brochures, business cards, flyers, newsletters and the other things you need to market your business. You are less likely to pressure all your poor relatives and friends to join your business in order to reach some quota, or to be recognized by others in the group.

There are so many advantages of doing so. You can promote what you really enjoy in creative ways that bring self-satisfaction. The reward can include several viable businesses and a bank account that shows success. Perhaps the major thing I did not like about the opportunities for multiple streams that I got involved with is that they insisted that their marketing material had to be used. I know this was designed to protect their interest and avoid the possibilities of a law suit, but I still found it restrictive.

I would encourage everyone to pursue multiple streams of income, especially due to the current economy. However, it is very important to examine the costs involved, the demand for the products or service, the costs to the customer and the ability to market these successfully. In the long term there is a need to ensure that you will in fact receive additional income, especially residual income. So I suggest that you get your pen and paper. Be creative. Think about your interests and begin planning what you need to do. However, when considering these streams, it is wise to choose a business that is compatible with your desires, interests and dreams. Have fun planning.