Most successful people will tell you they became successful by using leverage. Basically they set things up and accomplish tasks that achieve a result now and also residual results down the road. Examples of these types of ventures include investing, renting to renters, providing renewable services and of course, business ownership. In each of these examples a stream of residual income is created from just a single event and is usually received for any amount of time. It may take some effort to create that single, initial event but the income that comes in afterwards is typically very passive, reliable and worth it. This allows an entrepreneur to still earn while focusing on their next business endeavor which is where the leverage of both time and effort really start to pay off.
Most people look at the above examples of residual income and automatically assume that they must have large amounts of capital to initially invest in order to partake but that’s not the case. Residual income can be created from little and even no start up cost as long as you’re looking for opportunity in the right places.
Although the internet is flooded with tons of illegitimate money schemes there are still some very solid, reliable and legit websites that offer genuine potential. Most of these opportunities even allow for work from home and flexible scheduling. It’s a little unusual compared to normal work where you’re expected to be at certain places by certain times but this is because the value is not in completing an assigned task. The value is in what or how much one can produce so who cares where or when they’re actually producing?
Flexible scheduling and residual income are appealing to most but this type of combination requires a lot of self-discipline and accountability. This type of structure pays out only once one produces and brings in value. Unlike a typical job, residual income rarely pays out for time or effort. Only results, production and creation of value lead to the type of results that will yield that type of income. This typically means that the income will grow larger and larger over time so the ones who produce the most over time will typically earn the most income regardless of how often or hard they actually worked compared to others.
Setting up residual income is a simple concept. It may require a learning curve or some getting used to but once one’s approach is refined and optimized over time it becomes very lucrative. The principle is the same in just about all industries. Just create an ongoing relationship with clientele. One-time transactions will always be good for business but the ongoing transactions are much more profitable.
There are affiliate opportunities out on the web that allow you to partake in the distribution of other companies’ services and build a residual flow of income. Affiliates are rarely responsible for having to provide the actual service or support. They simply distribute and expand the services offered while the company they’re doing this for handles the post-sale interaction. This creates a win-win situation and allows all parties to play to their strengths.
In short, there are ways to set yourself so that you don’t have to work so hard. Residual income is a wonderful alternative to its exact opposite, linear income. Linear income is trading hours for dollars. You work, you get paid. You don’t work, you don’t get paid. With residual income, all one must do is bring value to the market. As they do that value is then paid out to them on a residual basis whether they are working or not and that’s the glamorous side of building a solid residual income for yourself. There plenty of ways to accomplish this. Just be sure to look in the right places, do your research and stick with it no matter what because learning curves are normal.
This is an article about building residual income online with GDI. Members of Global Domains International all receive a risk free way to earn income for life.