Do you understand the idea of “residual income?” Today, many people are used to being paid through a linear form of income, where direct compensation is rewarded once for the time spent on the job or for your performance overall.
When we get paid by the hour, or receive a salary, that’s linear income. On the other hand, residual income is when you receive small payments for a long time after the initial effort is expended. Royalties received by creative professionals are one example of how residual income works.
Most people won’t be able to make a lot of money from residual income, but that’s not its purpose. Residual income is the extra money that you keep receiving, allowing you to turn your attention to other projects. The best thing about residual income is that it comes in by itself. You don’t have to keep up any effort, or do any maintenance, because you’ve already done the work.
There are plenty of approaches towards making an online residual income. Some individuals have published creative pieces using online publishers, where they earn a small percentage of the cover price each time someone buys the product.
Other people generate informational products (such as ebooks) and establish a marketing plan that allows them to wait for others to purchase their product. Since the book is already written and the sales approach already implemented, the money that comes in through sales is considered residual income. There is no need to keep working on the book once it is finished
Another method of creating a residual income online is through a membership program. Residual income comes in when you recommend other people to the program, as well as perform tasks, such as reading emails, paying a visit to ad pages, and clicking on links. Like many other residual income methods, you will not become rich overnight. Instead, you can collect a little extra pocket change.
Additionally, some Internet marketing service providers (such as web space and helpful tools) often ask people to aid in distributing their services. This means if you sell to a customer (and the customers continues the service), then you stand a good chance of obtaining residual income as a result. Actually, any sales circumstance that is commission-based as well as provides additional payment can lead to residual income.
These are just a few of the available residual income opportunities online. There are lots of others out there, waiting to be discovered. Just search for information on residual income blogs and sites, and you’ll find lots of ways to earn a extra money through the Internet.
Author: joe cotroneoThis author has published 11 articles so far.