by Marian Krajcovic
If you’ve searched for a way to make your living online for any amount of time you have found that the options are endless. A quick way to cut the abundance of choice is to decide on an opportunity that offers residual income.
Residual income, also called passive income, is income that continues to be generated after your initial effort is expended. No more earning 40 hours of pay for 40 hours of work. Residual income allows you to leverage your effort. A residual income opportunity can be one of the most powerful ways to earn income.
Before we cover how powerful a residual income opportunity is, let’s look at the facts.
9 out of 10 families require two members of the household to work to meet ends meet
The average job pays $24,000/year.
85% of Americans state they would like to own their own business.
If you are in the 85% majority, you are ready to own your own business. A residual income opportunity allows you the ability to work a set amount of hours, but to exponentially grow your income. Let’s look at the power of residual income.
Even when you quit working, you keep earning
Ability to automate the residual income opportunity and work as little as 15 min. a day
Make money while others do the work
Flexibility of working from home
Enjoy the freedom and income you want
Some referral or reseller associate programs (not related to MLM or network marketing), offer similar opportunities for earning residual income. Also called affiliate programs, these are very popular on the Internet. There are a large number of websites that offer affiliate programs that include residual income.
You need to know what to look for before committing to a residual income program.
Matrix system compensation plan – A matrix system can consist of anything from 2x2 – 12x12. This allows you to earn money from other members of your team
As few sales as possible to be in profit – Up-front costs should not be overwhelming.
Bonus options are a plus!
Supplied customizable website
Multiple residual income opportunities included
Orders are processed and handled for you
Email follow-ups provided for you
Now, not every residual income opportunity is going to provide all of the above.
But, if you want to set yourself up for success a business that has already worked out the details is of great advantage. You are free to focus on making money rather than designing a website, creating emails and driving traffic to your site.
Residual income is definitely a powerful means to make a living. Imagine the ability to duplicate, triplicate or quadruplicate your efforts. A Residual income opportunity allows you to do this and more. With careful research the perfect opportunity will present itself and you will be on your way to living the life of your dreams.
Marian Krajcovic is the webmaster of eBusinessBoom.com site specialized on earning residual income from websites. Check out his latest tips at eBusinessBoom.com and signup for his free ecourse on residual streams of income