Steve Chou

Steve Chou

13-01-2022

13:41

Nobody gets rich on one income source. Here are the 10 streams that make me over $2,000,000 per year (You can steal these to start diversifying your income TODAY)

I’ve interviewed over 350 wealthy entrepreneurs One thing they all have in common? Multiple streams of income. Living on one income stream is a risky business. Because if it dries up? You're broke. So here are my income streams:

1: Ecommerce Business I sell hankies online, and it makes over a million dollars per year. It's consistent, predictable and we’ve been running our store for over 14 years. Ecom is a GREAT income stream to start: Pick a Niche Source a product Launch your store Generate traffic

2: Podcast Sponsorships In 2014, I launched my podcast. I speak to entrepreneurs who quit their jobs to start successful online businesses and break down their strategies for success. It's a top 25 show in the Apple Podcasts marketing category, and attracts a lot of sponsors.

3: Online Courses Blogging about my ecom journey attracted people who wanted to learn from me directly. So I created a course, and now many of my students are making 6 and 7 figures online. It shows the power of documenting your journey and building an audience.

4: Affiliate Marketing The best thing about affiliate marketing: It’s completely hands off! You recommend products you love, and the seller does the rest. Build a trustworthy brand online and people WILL listen to your recommendations.

5: Run A Conference For 6 years, I’ve run an annual ecom conference. It's a 3 day event that focuses on learning and networking. Everyone eats and parties together, and we learn from each other's strategies. Your expertise is valuable.

6: You Tube Channel In 1.5 years, I hit over 50K subscribers on YouTube. Why you should start a YouTube Channel: - No fancy equipment - No complex editing - Establish authority quickly - Rewards personality You can make thousands every month with consistency on YouTube.

7: Stock Investing I’ve held Microsoft and Oracle since the 1980s. (And invested in many other tech companies too.) To grow your wealth, you have to put it to work. Invest long-term in companies you love, and let compounding do the rest.

8: Angel Investing I invest a portion of my money in small companies who need capital. It's extremely risky. So never put a large percentage of your money into any one company. BUT the rewards are huge. You’ll make losses but your wins will make up for it.

9: Advertising I don't like overdoing ads, - A relevant affiliate offer is higher revenue - It takes people OFF your site (not great for sales!) BUT it's free money for you. All you need to do is add Google Adsense to your content pages.

10: Consulting I consult for companies I respect for a set hourly fee. I could easily fill my days with it, but I don't want to sell my time for money. So I limit it. But if you're an expert in something? It's a great way to increase your income quickly.

11: TikTok I launched a Tiktok channel and 4 months, I have over 50K subs! In a few years, my Tiktok channel will probably overtake my YouTube revenue. If you start a channel now, you are still early.

Which income stream should you pick? DON'T try and launch ten at once. Pick on stream Focus on that one Avoid shiny object syndrome Give it at least 1-2 years Then add a second The internet creates HUGE opportunity.

Thank you for reading! I hope you have an idea for a new income stream. And if you want to know more about online money, follow me @mywifequit for more content like this. And RT the first tweet of the thread to share!


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