Why Residual Income is So Critical in Achieving Your Life Goals
We read so much in business publications today about passive income, or residual income.
This is income which comes in without you having to do anything to earn it in that time.
The income will come in from work which was done in the past.
There have been examples of residual income in the past, such as authors who wrote books, and got paid royalties for sales on those books whenever they were sold in the future.
In the modern era, we are hearing ever more about residual income.
Many people are extremely keen to explore the possibility of earning income now which will come to them indefinitely into the future.
When starting a business, you need to consider your own abilities and where your own strengths lie.
One business model which consistently offers residual income is that of network marketing.
These network marketing businesses can be started for a fraction of the expense of a traditional bricks and mortar business.
They only require a very small investment, but the potential upside is enormous.
Make sure you select your network marketing company very carefully, and also make sure you select the team within it that you join very carefully.
Although it is your own effort which will ultimately determine your success, the whole process is made so much easier if you are working in an effective team.
You can also make a type of residual income by selling products which need to be bought and replaced repeatedly.
There are many examples of this throughout history.
One example was John D.
Rockefeller, who used to give away lamps, because he was the one selling the kerosene which the lamps needed to operate.
So, instead of just making a one-off sale, Rockefeller was able to earn an income indefinitely into the future by selling the kerosene.
Keep your eye on the changing marketplace if you have a goal to earn residual income.
Especially through the Internet, new opportunities are springing up all the time.
People who can adjust to the changing circumstances and spot opportunities when they arise are the ones who will develop residual income.
The Internet offers many opportunities to set up automated systems which will produce income on an ongoing basis without any further input from the user.
It is even possible to combine the two business models of the Internet and the products which need to be bought on a regular basis.
A good example of this is a membership site, where content is posted automatically.
Subscribers pay a monthly subscription fee, providing the residual income, while the autoresponder or the cron job does the work of uploading the content.
There are more ways of developing residual income now than at any time before, and there will be more new ways in the future.
Keep your eyes open.
This is income which comes in without you having to do anything to earn it in that time.
The income will come in from work which was done in the past.
There have been examples of residual income in the past, such as authors who wrote books, and got paid royalties for sales on those books whenever they were sold in the future.
In the modern era, we are hearing ever more about residual income.
Many people are extremely keen to explore the possibility of earning income now which will come to them indefinitely into the future.
When starting a business, you need to consider your own abilities and where your own strengths lie.
One business model which consistently offers residual income is that of network marketing.
These network marketing businesses can be started for a fraction of the expense of a traditional bricks and mortar business.
They only require a very small investment, but the potential upside is enormous.
Make sure you select your network marketing company very carefully, and also make sure you select the team within it that you join very carefully.
Although it is your own effort which will ultimately determine your success, the whole process is made so much easier if you are working in an effective team.
You can also make a type of residual income by selling products which need to be bought and replaced repeatedly.
There are many examples of this throughout history.
One example was John D.
Rockefeller, who used to give away lamps, because he was the one selling the kerosene which the lamps needed to operate.
So, instead of just making a one-off sale, Rockefeller was able to earn an income indefinitely into the future by selling the kerosene.
Keep your eye on the changing marketplace if you have a goal to earn residual income.
Especially through the Internet, new opportunities are springing up all the time.
People who can adjust to the changing circumstances and spot opportunities when they arise are the ones who will develop residual income.
The Internet offers many opportunities to set up automated systems which will produce income on an ongoing basis without any further input from the user.
It is even possible to combine the two business models of the Internet and the products which need to be bought on a regular basis.
A good example of this is a membership site, where content is posted automatically.
Subscribers pay a monthly subscription fee, providing the residual income, while the autoresponder or the cron job does the work of uploading the content.
There are more ways of developing residual income now than at any time before, and there will be more new ways in the future.
Keep your eyes open.