Why,Residual,Income,Smart,Mone marketing Why Residual Income Is Smart Money - And Ways You Can Earn I
Awhile ago, I got an email from one of the "gurus" I follow and it shocked me. The gist of it was this person wanted to trade services for a household item.To say it floored me would be an understatement.What was worse was a few days later t Automation technologies represent a fundamental aspect of any modern industry. The major types of industrial automation solutions, such as DCS, PLC, SCADA, and MES, are used on a large-scale in process and discrete industries.DCS technologie
Residual income (also called passive, or recurring income) isincome that continues to be generated after the initial efforthas been expended. Compare this to what most of us focus onearning: linear income, which is one-shot compensation orpayment in the form of a fee, wage, commission or salary.Linear income is directly proportional to the number of hoursexpended (40 hrs. of pay for 40 hrs. of work). One of the great advantages of residual income is that once things are set in motion, you continue making money from your initial efforts, while gaining time to devote to other things... such as generating more streams of residual income!There are a variety of ways residual income can be earned.Following are some examples. 1) Transfer the rights to a book you wrote, a software programyou created, a gadget you invented, or a song you recorded, toa company that agrees to pay you a percentage of each copy ofyour work sold in the future.2) Become an actor and draw residual income from each ofyour movies, TV shows, or commercials, each time they run.3) Let an oil company drill a well on your property in exchangefor a percentage of the revenue.4) Purchase an office building or other real estate that earnsyou recurring income through lease or rental payments.The above ways of earning residual income generally aren't thateasy to implement. Following are some that are more attainablefor the average person:5) Maintain a savings and investment program that pays you residual income in the form of interest or dividends.6) Market your own products and/or services that lendthemselves to repeat sales.I'm referring to products or services that are regularly usedor consumed, and that must be purchased over and over again. A product or service that you create only once, but sell overand over again, could also be categorized as a form ofresidual income (although continual effort may be required inmarketing it).Don't have your own product or service that lends itself torepeat sales? Consider the next two options for earningresidual income...7) Join affiliate/associate programs that offer products or services that lend themselves to repeat sales.For example, Internet marketers regularly use services such asweb hosting, autoresponders, etc. Some affiliate programs thatoffer such services pay residual commissions to resellers foras long as the original customers they've referred remainpaying customers.8) Join affiliate/associate programs that pay commissions ontwo levels.Certain affiliate programs can also generate residual income in another way: by paying affiliates a percentage of the commissions earned by those who sign up under them. For the sake of this article, I'm not referring to MLM(network marketing) programs with many levels. I'm referringto affiliate programs with no more than two levels. Since many affiliate marketers don't actively promote theirprograms, don't sit back and rely on income from second-levelcommissions, but view it as icing on the cake. You'll havebetter success with a program if you actively market ityourself. Some of the most ideal affiliate programs combine the best ofboth worlds: Products or services that lend themselves torepeat sales, plus residual commissions based on the earningsof those who sign up as resellers under you. I've done a lot of research on affiliate programs. For a listof the best e-commerce affiliate programs my research hasrevealed, see: http://AffiliateProfitInfo.com/programs/best.htmLast WordsThe best types of residual income are usually those that youhave exclusive rights to or otherwise control. They may beharder and more time-consuming to develop or acquire, but therewards are usually greater, and the income more stable.I'm not against earning good, honest, "one-shot" linearincome, but given a choice, which would YOU rather do: getpaid only once for work you've done through linear income, orget paid repeatedly - perhaps for years or even the rest ofyour life - for work you've performed only once, throughresidual income? Article Tags: Residual Income, Only Once, Affiliate Programs
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