Archive for July, 2008

One of the keys to creating massive wealth in life is to create multiple streams of income or passive income.

After all, the reason why most people work is to earn an income to support their standard of living.

When you work in a job, regardless of the position and level you are in, you are basically trading your time and skills in exchange for a regular paycheck. People who depend solely on their job as the only source of income are highly at risk.

This is because you can only continue to work in your job provided you are healthy and the company and economy is doing well. However, during recessions, with corporate America ever trying to please shareholders and investors, naturally the first thing that comes to mind is cost cutting. This normally translates to layoffs and retrenchments.

Technological advancement brought about the Internet, which was initially used more for research purpose. It was not long before companies, businessman and entrepreneurs discovered the potential of Internet in conducting business.

There are many online business models that can be used to create multiple income streams.

For example, one popular marketing strategy employed by marketers is to set up a one page site offering free gifts or information like an e-course to people who opt-in to their list.

Next, using an auto-responder, they will then follow-up with these prospects seven times or more until eventually they purchase some product either their own, or other people’s products.

Another business model that can be used is Google Adsense, which is becoming increasingly popular. There are frequent stories of ordinary people earning a substanstial amount of passive income each month just based on this method alone.

Today, you can set up an online store, a directory of pages, an affiliate site, a blog for for many, many times lesser than what it would cost you to set up a brick and mortar business.

For less than fifty dollars, you can register a domain name for just $6.95 for one year, sign up with a $9.95 a month web hosting to host unlimited domains and spend the remainder of the money to drive traffic to your sites using pay-per-click programs.

If you want free traffic, you can use a myriad of strategies available to small and medium online business owners, such as article marketing,blogs, rss feeds, podcasts just to name a few.

What has all this got to do with you, you might ask?

Simple. Going back to the fact that one can only work a fixed number of hours in a day, the only way to increase your wealth is to create additional income streams for yourself.

Setting up your own online businesses to create multiple income streams is one of the easiest and most inexpensive ways to do so.

Blogs, or more specifically niche blogs offer the budding entrepreneur the best of both worlds in terms of traffic generation and the flexibility of multiple income streams all on one site.

The idea behind niche blogs is this: Set up a blog on a niche topic, for example acne causes and solutions, post articles on it and add in income streams such as Adsense, Amazon, Chitika and even Clickbank.

Next, use the blog’s built in rss feeds and submit them to rss directories to start driving traffic to the niche blog.

The result? You’ve just created your first stream of passive income.

Imagine creating 10, 50, 100, 1000 of these niche blogs. How many streams of income would you have created? You can create a niche blog in basically any niche, for example coin collection, keeping aquariums, candle making just to name a few.

Start taking charge of your financial future now and create your own niche blogs.

With a feisty Google Page Rank of 4, Cuil is set to take on the mighty G! The brainchild of Anna Patterson, her husband, Tom Costello, and two other former Google engineers — Russell Power and Louis Monier — the search is ON!

White becomes Black and multicoloured text becomes blue, but similar to Google the initial search screen is purely adhorned by a search box and a name. Type in your search term and you’ll see a few pages of pictorial and text results in a fairly trendy presentation of SERPs. I’ve typed in a few of my high ranking Google keywords and in Cuil, I’m nowhere to be found! I guess these guys have got a lot of settling to do, but this begs the question…what is the shape of the Cuil Algorithm.

Insiders state that, Cuils search results are based on deep analysis of pages rather than the importance of link popularity and authority. Relevance is high on the agenda but boasting an index as huge as 123 Billion web pages we all wait to see how the netting process fairs in the race for relevance.

Anna Pattersons has previous links to Google, in fact her previous search engine technology (Recall) was so impressive that Google purchased it to improve the search experience for current Google users. After leaving Google in 2006, Patterson made it her mission to develop an even better search engine experience with VC funding to the tune of $33M.

The challenge between Cuil and Google is that for perfect relevance and pertenance, the purest and refined form of search result, something that Google has pretty much dominated for the past 8-9 years without real challenge from some long established search engine counterparts.

What can we expect from Cuil (pronounced Cool) over the coming years? Well, many others have gone before and fallen, take a look at other engines like Teoma, will Cuil succeed? The difference here is that the creators are ex Google employees with an inside track, will this provide them with a real advantage or is this pure bravado?

One thing that is for certain, the searcher wins…lets hope that Cuil creates a rival to adwords in cyberspace so that the marketer can also profit!