Earn Residual Income Online

by WorkFromHome on April 10, 2011

It is possible to earn residual income online if you know how to utilize the opportunities. The internet provides a viable source of opportunities for a home based business that enables you to earn money continuously.

What exactly is residual income? Residual income is also referred to as passive income. It means you continuously earn from the product even after you finish working on it. It does not require much effort to maintain the business also.

This is the notion behind movies and music albums. This is the reason why software moguls and business tycoons become overnight millionaires. They create one product, perhaps one movie or software, and this continuously makes them money even 5 years after it was first released.

This is how Bill Gates and Hollywood superstars amass huge fortunes. If they can do it, so can you. Creating an online business is a good way to begin this endeavour since it requires low start-up fees.

Earning passive income is quick but it is far from easy. The first step is to create a useful and innovative product. This entails a lot of resourcefulness and hard work on your part. You need to come up with a product that people need or will address their needs.

When you are done making the product, the bigger task now is to promote and market it. The idea can be daunting to the uninitiated. But the rewards you will reap later will definitely make all the hard work you pour in totally worth it.

Online opportunities that can potentially earn you recurring residual income include the following:

1. Publishing an E-book

Is there a topic that you are conversant with? How about a skill that you have perfected? Are you great at cooking? Selling real estate?

Write an e-book where you can impart some secret techniques or tips. Make sure that whatever you are writing is not something that the reader can easily find online. If you can provide unique and interesting ideas, readers will be willing to buy it.

Writing an e-book will take a lot of time. One needs to do a lot of research at the same time do some revisions. An e-book with 20 to 50 pages is usually worth $50-100. A 10-20 page e-book can fetch $20 or higher. If your e-book becomes popular, you will generate huge income from it even long after it first came out.

2. Affiliate Programs

Affiliate program is a form of internet marketing strategy where a business pays the affiliate commission for every customer they bring in.

The first thing to do in an affiliate business is to sign up for a legitimate program. Then you need to have a landing site where you provide links to the products you promote. Once a visitor clicks on the link, you could get a possible commission just for referring a client to a site. Other affiliate programs require that the reader must buy the product before they give you a commission.

This is a great way to earn money because you do not need to create your own product. All you have to do is market others’ products. The more people click on the links, the more you make. Keep on marketing the affiliate products and soon you will earn residual income from your promotional efforts.

3. Network Marketing

Network marketing is a legitimate online business. However, there are a number of reported scams in this business. You should be careful in choosing which networking companies to join.

You must recruit distributors under you or down line. When you are able to build a down line, you earn commission not just from the sales you make but also from the sales the down line generates.

Once your network marketing business is in place, you continuously earn money from it every time you or one of your down lines makes a sale.

4. Online Advertisement

Advertising online is another potential money maker. To do this, you need to have a website. Then promote and market it incessantly. You can put Google Adsense advertisements to monetize your website. There are also other online advertising platforms similar to Google Adsense that you can utilize. You may sell ad space on your site by charging the companies that advertise on the space a monthly fee.

There is no selling involve in this program. All you have to do is display the ads sponsored by advertisers in your website. Once the readers click on it, you earn money. However, you need thousands if not millions of viewers to be able to earn good money from this method. This means you need to promote and market incessantly until you reach a good number of visitors to your site daily.

Summary

Generating residual income online is not an easy task. The bulk of the job is in promoting and marketing the website or product. If you know how to do this or are willing to learn it, you can get huge returns for your efforts.

Look for a product or make one that you can sell online. Then promote it as much as you can. The results may not show overnight but just be patient and later you will start seeing money pouring in, providing you residual income.

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