Free eBook!

Latest Products

Secrets of Generating Residual Income

A big goal for internet based entrepreneurs is to generate residual income. That is, income based on properties that you don’t need to worry about every day.

For example, money that you get from a job is not residual. On the contrary, you need to work every day if you still want to receive your salary. Even if you make a lot of money this is still true. For example, if a famous actor doesn’t show up for a filming, he will not receive his big pay check.

On the other hand, residual income is way more flexible. It is based on something that you have done in the past, but that still generates money for your every single day.

A quick example of such a residual income stream is a book. It may take a long time to write it, but once you publish a book it can be sold any hour of the day or night. Somebody may be buying your book in another country, but you are still paid for that. Of course it is not easy to have a successful book, but once you make it, it becomes very enjoyable to receive money for something that you already did. The same applies to other media such as movies and songs, for example.

The Secret of Residual Income

The secret is that you don’t need to write a book or a song to collect residual income. Most of us can do this, even if you are not a famous person. The main secret of residual income generation is to look for things that people are interested on and that you can sell over and over again.

In the Internet world, this is becoming the norm, instead of the exception. For example, if you create a web site, everyone will be able to visit it even many years after you’ve created it. Readers can visit your web site and you can profit from that, using affiliate marketing, selling products, or with other kinds of promotions.

A web site is a truly residual source of income. Once you have done it, you can spend years just doing minor maintenances and receiving money for your efforts. But it doesn’t stop there, you can have even more residual income stream if you spend your time diligently and look for opportunities.

Using Your Knowledge

Another possibility for residual income generation is to write reports about specific topics. For example, you can write reports about gardening, cooking, hobbies, or any other topic that is of general interest. Any of these topics can justify the creation of a report that you can sell in your web site. Short reports can sell from anything to $10 up to $40, and become an important source of residual income.

Still another method for residual income generation used by many is to sell images on the web. A few web sites have specialized in selling photos. If you like to take pictures you could very well make from a few dollars to several hundred dollars selling them on the Internet.

Finally, some people decide to create software and sell it for residual income. For example, suppose you have an idea for a simple software. You can contact a developer and have it done for a few hundred dollars. There is an initial investment in this case, but the advantage is that you can sell the software through your web site and make a profit for several years ahead. Software is one of the best ways of making money online, because it is perceived to have high value and it is easy to deliver.

Residual Income Ads Up

As you see, residual income is something easy to achieve. The most exciting thing about it is that such income ads up. Even though you may be making just a few dollars from each source, that is money that you are not working for anymore. If you can setup several of these money sources, you can quickly have make a lot of money each month. Eventually, you can make your residual income investments work for you, instead of having to work for a job.

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>