The Gift That Keeps On Giving
I love building residual income sources. They're the gift that keeps on giving. I learned this when I started writing Kindle books. Several still sell well even two years after their release. I also have revenue share articles from Demand Studios that still give me a monthly bank deposit.
Here at Wealthy Affiliate, I'm already seeing a new type of residual income. I sold my first items via Amazon, and now I get a commission whenever those customers return and buy something else (at least as long as the cookie lasts on their computer). I was thrilled the first time I saw that happen. It's not exactly "money for nothin'" as the old song goes, but it's close.
You can get residual income in other ways, too. For example, if you focus on getting others into Wealthy Affiliate and they upgrade to premium, you earn from their monthly membership fees. There are many other membership affiliate programs out there that work in a similar way.
It takes a while to build to the point where your residual income is a significant chunk of change, but it's worth the effort. You can sit back and relax a bit once you have a steady stream and enjoy the fruits of your hard work planting and pruning your online orchard.
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Trickle, trickle, stream, stream, river, river, ocean.....come on in all! The water's deep & wide.... Wait for me, I'm grabbing my flippers :)
Cheers for the reminder Barb! Great post - as always!
I also freelanced for Demand Studios several years ago. One of the things I thought about was if they were able to pay me $20 for 400 word articles how much would those same articles earn if I placed them on my own website. It didn't take me too long to realize the best way to write is for your own sites because it is a gift that keeps on giving.
That is so true! I was writing there when they did a contest to see who could produce the most rev share articles in a month. I won a Kindle, which I swapped for a nice little netbook, and produced an obscene number of articles. The revenue is finally tapering off, but they literally earned me hundreds of dollars a month, so imagine what DS was getting.
Hi Barb - another inspirational post.
A lot of people seem to doubt that you can do this - but having people like you share their experience and their rewards - I think gives us all a real boost, and keeps us going.
Thank you,
All the best, Mark
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An inspiring post........just keep on keeping on and money will start coming in.