The recent power outage for Facebook, IG and WhatsApp should be a wakeup call for those who conduct business online. Two important truths were learned:
- Sites can go down at any time.
- If a site goes down, your ability to make money can be drastically impacted.
For many social media influencers and those who primarily conduct business online, it’s important to protect yourself from these events happening in the future.
The recent Facebook, WhatsApp and IG crash only lasted a few hours, but what if the next outage lasts a day or two?
That’s not too bad, but what your channel/page gets blocked or banned? How would you cope?
A perfect example of this is former president Donald Trump, who was banned from most social media outlets.
Time To Create a Strategy
While social media and the internet are a great ways to generate revenue, it’s critical an investment strategy is devised in case that income stream is disrupted or stopped altogether. YouTube, TikTok, Facebook and others have all either temporarily or permanently deleted users from their platforms. For those counting on the income received from these channels, it can be financially devastating.
Here are some of the top ways influencers and those making money online can protect themselves from social media disruptions:
Create Your Own Website Or Blog
Having your own website is key if you get banned from social media or their site is down. This will give people an opportunity to keep following you. In addition, your site can be monetized, allowing you to generate passive income. With your own site, you can also compile an email list of all your followers, allowing you to alert them to any changes as well as promote any products or services you provide.
Create Businesses Outside of Social Media (Multiple Streams of Income)
This is critical for long term success and financial freedom. An excellent way to create generational wealth is to accumulate assets outside of the internet space. In other words, take some of the monies received from online ventures to purchase or invest in any of the following:
- Real estate (Rental property)
- Vending machines
- Laundromat/dry cleaners
- Small businesses
- Stock market
- Precious metals (gold, silver, copper)
Create Pages on Multiple Sites
Creating multiple pages and submitting the same post to different social media sites can be time-consuming, but it can be worth it in the long run. if one site goes down, you still have social media presence on others.
By creating multiple streams of income, you protect yourself if one income stream is suddenly lacking or is out of favor, thus helping you maintain your lifestyle.
The average person has one stream of income, but wealthy individuals have 7 or more. Having businesses outside the internet is key to diversification and preserving wealth.
Bonus Tip: Beware of the Cancel Culture
“Cancel Culture” is a modern term for public shaming, boycotting, or “cancelling” someone on social media for a controversial statement or action.
A person could be an internet star one day and public enemy #1 in an instant. One tweet or social media post can ruin a person’s life (and their ability to make money). You could lose all your followers and see your pages removed from websites within minutes.
This is an excellent reason to create businesses where your name is not the primary focal point. Here are a few tips:
- Create a drop shipping company. This means to deliver a product to a customer without having to physically see, pack or ship the item yourself. You can create an online store and sell products without people knowing the store is owned by you. For more on drop-shipping, click HERE.
- Create a business as “DBA.” A DBA means “doing business as,” and it’s something you might consider for your business if you prefer not to use your real name or registered business name. This could be ideal for those who are celebrities but want to keep a low profile with their other business ventures. For more on DBA’s click HERE.
- Own businesses that don’t require a high profile. Few people will ask who owns that vending machine as they buy a candy bar or soda. Rental properties, franchises, vending machines and other businesses may not need you to be actively present to generate revenue.
Call To Action
The internet is a great way to make money, but it can also be take away in an instant. Diversification is key. learn about the various ways to create multiple streams of income in my online course Tired of the 9-5? How to Retire Early With Passive Income. Available on Udemy.