Many people who seek other income streams want to know what exactly is residual income.
I think the quote above from John D Rockefeller, one of America’s wealthiest men of all time sums up nicely the power of making residual income by other people doing work for you.
This is what’s possible with mlm residual income, and you will know this if you’re in the Network Marketing community.
In this article I want to share with you why this is my favorite source of residual income.
What is active income?
The opposite of residual income is active income. This is when you trade your time for money. For example, you might work for $50 per hour.
Indeed, you can make a lot of money working this way if you’re a doctor or a professional sports person. But the point is you have to be working to make the money. It is not leveraged in any way. And when they stop working, the money stops coming in.
However, the super-rich make their money with residual income.
What is residual income?
This when you get paid again and again after the work is done. For example, lots of musicians get paid over and over again for work they did years ago in the form of royalties. For example, Paul McCartney.
Many people own investment properties where they earn a passive income from people paying them rent. Some of the richest people in the world have make money from property.
So what is a residual income business opportunity for everyday people?
Examples residual income you could try are
- Write an iPhone app that could be downloaded thousands of times.
- Invest in real estate and make money from rental income
- Buy stocks and shares and make money from the dividends
- Build a blog and become a network and or affiliate marketer
Writing a bestselling iPhone app sounds like a good idea but what’s the chances of that? Rovio failed 51 times before they came up with Angry Birds. So I don’t fancy my chances.
I think you’ll agree that to make money in real estate it needs a lot of upfront investment. It’s also a risk. Property prices go down and tenants can wreck your house.
Investing in stocks also comes with a lot of risks.
Which finally brings us to the last one on the list. Build a blog and become a network / affiliate marketer.
The beauty about building a blog to make residual income is the low cost of entry. All you need to do is buy your hosting from a company like Bluehost, get a domain name, and you’re off to the races. That’s roughly $100 per year to run your business.
How do you make a residual income with a blog?
Then you choose the niche you want to serve, like fitness, candle making or network marketing, and write regular content on the blog.
The content never goes away and overtime you get more and more visitors.
Within the content you can add affiliate links like the one I did for Bluehost hosting above and make a passive income, like the money I just made from someone wanting to start a plumbing website!
I can go on holiday or be asleep and I can still make income. That’s the beauty of using a blog to make residual income.
What are the types of residual income you can make on a blog?
I love network marketing. I used to be an offline network marketer, but now I’m at the point where I can earn enough from my online activities.
These are the ones I sell, and you can too.
- An online opportunity such as this one
- Hosting as I’ve already talked about
- Aweber Autoresponder
- Click Funnels
- Selling products on amazon.com
- Digital ebooks from Clickbank.com
Are you earning a residual income? If so, which niche are you in and what methods do you use.
What are your other passive income opportunities?
Let me know in the comments section.
As usual, I’m a real person, so please reach out and say hi.