Sunday, February 06, 2005

The Massive Power Of Residual Income

How much residual income have you generated for yourself in the last year?

If you work for someone else, or if you sell products and services online that only generate revenue one time, the answer is probably ZERO.  This means that in order for you to make some more money you have to work some more hours, sell another case of wine, or build another website for someone.  This is the trap of linear income, and you want to get out of it as soon as possible...

With residual income, you do something one time, and profit from it over and over without any more effort.  This is the type of income you should be targeting, and also where 95% of your energy should be focused.  A great example of residual income is a membership site where your customers sign up for monthly recurring billing, you update the site a few times per week, and pull in revenues from hundreds or thousands of customers on a monthly basis - EVERY MONTH - and each new customer only adds to your residual income. 

If you don't have a membership site, this is one quick way to generate some residual income for yourself.

 


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