Friday, September 13, 2013
Residual Income Streams: Can I Build One?
In some sense, those who have established passive residual income streams are living the dream. The ability to continue to earn money on work done in the past is really an ideal situation. Anyone who has the luxury of multiple streams of income has effectively turned themselves from employee to entrepreneur. I'm not sure about you, but I classify this as success. I could go on and on about how fantastic this sort of income is, but I doubt that's necessary. Of course you are aware of the freedoms this sort of income allows. You're certainly more interested finding out HOW to build passive residual income streams. Let's take a quick look at a few prominent ways in which you can paid for work done in the past. Books and Music? In case you aren't quite sure what residual income streams are, let's consider the most notable and simplest example; an author. An author writes a given book one time. Although he only technically produces one unique product, he will continue to earn money on each copy sold in the future. Products that can be easily duplicated often result in residual income streams. For example; recording artists also have this income luxury because their music can be sold infinitely. I know exactly what you are thinking right now. And the answer is "yes". There are in fact many other ways in which passive residual income streams can be built that do not require you to be a world-renowned artist or author. In fact, the internet has created a vast amount of residual income opportunities. Routes to Profitable Streams of Income for Everyone Affiliate Marketing Pay-Per-Click Advertisement Website Subscriptions An Investment Portfolio Selling Videos/Photographs Online Building a Business and Hiring Others to Run it Network Marketing Passive Residual Income Streams: Most Profitable? When I look at this list of residual income streams possibilities, a few opportunities stand out and they all have something in common; they're web-based entrepreneurial opportunities. So why is this so appealing? In the grand scheme of things, the internet really hasn't been around for very long. We, internet entrepreneurs as a whole, are still learning how to maximize the profits of this incredible technology. The internet allows businesses to appeal to consumers world-wide. Although it is cliche, the possibilities truly are seemingly endless. Network Marketing in 2013 To many of you, the network marketing business model is familiar. For numerous decades, network marketing has been one of the most accessible routes to residual income streams. Network marketers earn their pay by distributing products and enrolling new distributors. Although the success rate is low, there is a ton of money to be made by those entrepreneurs who are serious about their network marketing business. These success stories are becoming more and more prevalent in the age of the internet. The world-wid- web essentially allows network marketers to promote their products/business opportunity to people globally. This is obviously a marketing opportunity that would not be possible without going online. If you are truly interested in passive residual income streams, I hope you consider the previously mentioned opportunities.