Monday, June 23, 2008

Residual Income - what is it and why do you need it?

Residual income is making continuous money from doing something once. Residual income has been around a long time, but its popularity has grown with the Internet. It can used to supplement a full time income or it can eventually replace a full time income and beyond.

It takes time and hard work to build residual income. With so much hype and empty promises on the Internet today, some believe residual income can happen immediately. It just doesn’t work that way. It’s about doing the same thing over and over in order to earn money. It’s about doing something once and getting paid for it again and again.

The internet it an amazing tool and must be used to its full potential to be successful. The internet is full of endless possibilities. Learn to take advantage of it. Take advantage of search engines. Learn how to be at the top of them. Learn how to automate your follow up process. It’s a tool that works 24/7, learn how to use it and maximize your profits.

Learn to build multiple streams of income. Multiple streams of income is basically having more than one business. My income streams all point to my primary business. If you learn to monetize your marketing efforts, you can invest more in your business and see it grow quicker. And multiple income streams equal stability.

Be sure to do your research. Look at the background of the company. Is the company financially stable? Do the owners have network marketing backgrounds? Does the compensation plan allow you to build a passive, residual income? Check out the company and make sure it’s here to stay.

BELIEVE Success!


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