Anyone who has the luxury of residual income streams has effectively turned themselves from employee to entrepreneur. I'm not sure about you, but I classify this as success.
I could go on and †on about how fantastic this sort of income stream, but I doubt that's necessary. Of course you are aware of the freedoms a residual income stream allows.
You're certainly more interested finding out HOW to build passive residual income streams. Let's take a quick look at a few prominent ways in which you can paid for work done in the past.
Routes to Profitable Residual Income Streams: Books and Music?
In case you aren't quite sure what residual income streams are, let's consider the most notable and simplest example; an author. An author writes a given book one time.
Although he only technically produces one unique product, he will continue to earn money on each copy sold in the future. Infinitely duplicatable products often result in “residual income streams.” For example; recording artists also have this income luxury because their music can be sold infinitely.
I know exactly what you are thinking right now. And the answer is “yes”.
There are in fact many other ways in which passive residual income streams can be built that do not require you to be a world-renowned artist or author. In fact, the internet has created a vast amount of residual income opportunities.
Routes to Profitable Residual Income Streams for Everyone
- Affiliate Marketing
- Pay-Per-Click Advertisement
- Website Subscriptions
- An Investment Portfolio
- Selling Vidoes/Photographs Online
- Building a Business and Hiring Others to Run it
- Network Marketing
Passive Residual Income Streams: Most Profitable?
When I look at this list of residual income streams possibilities, a few opportunities stand out and they all have something in common; they're web-based entrepreneurial opportunities. So why is this so appealing?
In the grand scheme of things, the internet really hasn't been around for very long. We, internet entrepreneurs as a whole, are still learning how to maximize the profits of this incredible technology.
The internet allows businesses to appeal to consumers†world-wide. Although it is cliche, the possibilities truly are seemingly endless.
Residual Income Streams: Network Marketing in 2013
To many of you, the network marketing business model is familiar. For numerous decades, network marketing has been one of the most accessible routes to residual income streams.
Network marketers earn their pay by distributing products and enrolling new distributors. Although the success rate is low, their is a ton of money to be made by those entrepreneurs who are serious about their network marketing business.
These success stories are becoming more and more prevalent in the age of the internet. The world wide web essentially allows network marketers to promote their products/business opportunity to people globally.
This is obviously a marketing opportunity that would not be possible without going online. If you are truly interested in passive residual income streams, I hope you consider the previously mentioned opportunities.
Did you like this post and did you get value from it? If so I would appreciate it if you would leave a comment below or like or share it on Facebook!