A Home Business Built On Residual Income
Building Your Home Business With Residual Income
Hi Folks
As usual lots of members signing up to wealthy affiliate and deciding to follow me have asked. "What is the best way to make money online?"
This blog will be the one I will point them in the direction of in future.
Having an Internet marketing business is great, but did you know that doing it with residual income is even better? The best way to be able to get the most returns for your time invested is through getting for yourself residual income that just keeps on coming. Here are some reasons why residual income, with multiple streams of income will work best for you.
Because You Are Not Focused On Individual Sales
Unless you are selling something that is in great demand, and selling for a lot of money, getting individual sales is good, but not the best. Now a lot of people can do quite well through individual sales - but they have to keep on making the sales - or their income stops! If you have one line of income, then you could be instantly out of business. You could also look at it this way. If you are laid off from a regular job, then your sole source of income is gone.
Suppose, however, that you could get a sale that would bring in monthly, for years to come, a small but continual income. That is what is meant by a residual income. An example would be an Internet Services provider (we all have one), and offering services to your customers. In this example, people buy into it - and will pay for the services for years to come. After you get so many people signed up, you could literally put your Internet marketing business into neutral and go on an extended vacation. You would not even need to be there in order to make money. It operates itself.
Because You Are Free To Add Multiple Streams
After your first home business gets established, then you are free to build a second work at home income stream. The first business becomes largely self-perpetuating, only needing a little attention each week. This frees you to develop a second line, and then a third, if you desire to keep going. This makes the most sense and it is just like diversifying a stock portfolio. The more diversified it is, the less risk you have of losing all you have invested.
Those that have become really successful use these means to do so. That way, they do not have to devote a constant 100% in order to keep getting those new sales. By now you should be able to see the advantages of setting up multiple streams of income, with each providing a residual income as well.
Ask yourself this one very important question.
Which would you rather have, a customer who buys one item for a thousand dollars, one time, or a customer who pays you fifty dollars a month for years to come?
There you have it in a nutshell as they say so I hope the definition is clear to all who read this blog.
Enjoy your day folks, and if the urge comes upon you then by all means leave a comment below.
Robert Allan
Recent Comments
34
Great idea, now just to find that special service or services with the monthly income. WA is one. Internet service provider is a good one. Thank you for this valuable information.
Hello Dear Lady and nice of you to stop by and read my blog.
And of course for your comment.
It is the Smart way to earn an income from the internet Gina.
Once you have found your Product/Service you can have an income from it for as long as you want.
I'm going to send you a link via a PM.
Meanwhile you have the most excellent of Thursdays.
Robert
Hello Peony and thank you for your kind words.
Residual/Passive income is what you should strive for.
In the long term it makes all the hard work at the start worthwhile.
Enjoy your Wednesday.
Robert
Hi Mike and thank you for taking the time to read my blog and for your comment.
Residual/Passive income is the ideal for anyone who wants to earn an income from the internet.
It takes time but it can be done and when you have cracked it then you can really retire for good and live off the income thats generated.
Enjoy your Tuesday.
Robert
Thanks, Robert, and this is a good challenge to keep me building and aiming for more residual income.
I'm a big proponent of passive income Robert. I did a blog a few months back - Are You Wealthy. In that blog was an interesting passage - "The definition of wealth is the number of days you can survive without physically working (or anyone in your household physically working) and still maintain your standard of living." This is what I am striving for. Thanks for the great blog my friend.
Hello Jeff and thank you for your input.
Residual income is the way to go.
Once you crack this particular nut you're well on your way to having the lifestyle you're aiming for.
Enjoy your Tuesday.
Robert
Hi Robert, you have cleared some questions that I already had on residual income. But let me ask this, do you think that there will come a time when the internet marketing will be saturated with great ideas such that those who begin will not make money online?
Hello Paul and thank you for your comment.
The internet is ever evolving with lots of sites being added to it with new and not so new products every minute of every day.
Its a billion+ dollar industry and will continue to grow.
Will it ever become saturated?
Certainly not in our lifetimes.
Enjoy your day.
Robert
Thanks for your advice Robert. I always get a lot from WA posts and yours has a lot of convincing pointers.
Hello Alan and glad you like the blog.
A lot of good advice in there for you to follow.
Thank you for your comment.
Robert
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Great post! Thanks for sharing.
Hello Scott and a new follower if I'm not mistaken.
I will get round to replying asap.
Thank you for reading my blog and hope you are going to take heed of the advice.
It is the SMART way to market online.
Enjoy your day.
Robert Allan