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Nov 12

How to Earn Residual Income

There are two ways to earn money. The first way is based on the pay per production model. This is how most companies compensate their employees. You either earn a set amount for each hour you work or you earn a percentage of each sale you make. In order to earn more money, you have to work more hours or make more sales. The second way to earn money is through the residual income model. In this income model, the money continues to be earned long after you have finished working on the source of it. This would be similar to an insurance salesperson earning a commission each time their client renewed their policy. They continue to earn money years after the hard work of getting the client is done. Because your income is not tied to your direct involvement in maintaining the source of the earnings, residual income frees up your time and energy for other activities. A business that makes the bulk of its money from residual income opportunities would allow you to go surfing in Hawaii and still get paid. If this sound like a good deal to you, here are three things you can do to earn residual income.

Write an Informational E-book

We are living in the Information Age and now, more than ever, people need information that will help them remain competitive in the global economy. The right e-book targeting a hungry market can produce years of residual income. The best thing about selling e-books is that there is very little overhead, which means more profit in your bank account. Even better is the fact that you don’t even have to actively sell the book yourself. You can use an affiliate program to get other people selling your book for you, leaving you with the freedom to do other things such as play that extra round of golf.

Build Niche Websites

Another way to earn residual income online is to build niche websites. A niche website is a small site, usually around 2-3 pages, that center around a specific topic. For example, a regular website might deal with the topic of dating whereas a niche website would only handle a specific aspect of dating such as how to meet people in bars. With a niche website, residual income is earned through advertising revenue. Now an individual website won’t earn you very much money, maybe $1.00 a day, but 30 niche websites earning a dollar a day is a nice monthly reward for a few weeks worth of work.

Shopping Portal

A shopping portal is several Internet retail stores grouped together on one website similar to a shopping mall. Each time someone makes a purchase at your Internet shopping mall, you get paid a commission. Your customers will feel safe shopping online at your Internet mall because they’ll be doing business with stores they trust. The open availability of the Internet combined with its global reach make owning a shopping portal a great way to earn residual income. With a little ingenuity and persistence you can develop many more ways to earn residual income in your business. Visit this detailed checklist to learn about a residual income opportunity that will give you the personal freedom and financial rewards you’ve been dreaming of.

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