What Is Residual Income? Residual income is money you keep on receiving month after month.
It keeps coming because of something you did in the past that keeps producing it. Some people buy real estate and collect a monthly rental income every month.
Life Insurance agents get a monthly residual benefit for each policy they have sold in the past, as long as their client keeps paying their monthly premium.
Most of us work Monday thru Friday 9-5, week in and week out, except for holidays, of course. We either make an hourly wage, or have a set salary.
The problem with this model is that unless you have a pension, and the vast majority of companies do not offer one, you will NEVER again be rewarded monetarily for all the hard work you have put into your job once you leave.
There is NO Residual Income, zip, nada, zilch!
I worked at FedEx for only five years and qualified for a pension once I turned 55 years old. It is a pretty small pension, but it pays a couple bills, and I have not one time sent back any of the checks they sent me.
Month after month those checks just keep on coming. That is what Residual Income is.
FedEx rewarded me according to how many hours I worked in those five years. And they will continue to reward me until I die.
My First Experience Earning Residual Income
I used to receive residual income from a Network Marketing company I was involved in about twenty years ago.
I am no longer involved with them, but I did get those monthly checks every month, and it was wonderful.
What did I do to get those checks?
I would tell someone about the product line our company had, or the business opportunity, and set up a time to show it to them.
After I sat down with them and they became a customer, every time they purchased products from the company, the company would send me a check.
This company gave me a 25% residual income commission every time my customers bought products during the month.
If they bought $100 of products, the company would send me a check for $25, month after month.
I brought in about 30 customers during my two years of involvement with this company.
Assuming that all thirty customers bought $100 worth of products month after month, I would be getting around $750 per month.
If I had brought in 300 customers it would have been $7500 per month. You see how the income can become pretty large?
But I was not into walking up to strangers and trying to get them to buy our products, so eventually I left the company.
You see, residual income can stop, if the people you brought in quit. And that is exactly what happened to me.
So, How Do I Make The Residual Income Continue Forever?
The KEY is the company! I would not advise anyone to become involved with any company that is less than five years old.
Most business’s fail the first few years, and if you begin with them and they fail, all your hard work goes down the drain.
People must be willing to purchase the products or services month after month. The only way that will happen is if the product or service is not only good quality, but a good price as well.
Many times, before I would involve myself in some business, I would Google the name of the company to see what others are saying about it, or read reviews about them.
It is no use to just go by what the business website says about themselves because they are only going to tell us the good things. I always want to read what others say before I involve myself.
In General, I have found that the good companies will have very few people saying negative things about them.
The bad companies are obvious because there are so many people complaining about them.
The POWER of Residual Income!
Let me give you an example of what I mean by Power.
Lets say you are a part of a very good business that actually pays you a 50% commission every time you help a client purchase one of their products or services.
Lets use the monthly cost of this product or service to be $50.
After a while I bring in my first 5 customers, my monthly residual income is now set at $125. I sure can not pay the rent with that, but it helps out with a couple bills.
Then as I progress with the company I eventually have 10 customers who love the product or service.
Now my monthly residual income jumps to $250 per month. I sure can not leave my job on that amount of money, not yet anyway.
Eventually, say over a year or two I have 100 customers and they keep paying every month. Now it is getting interesting at $2500 per month, that is 30K per year!
Some of us would be very tempted at that point to leave our jobs and do our business full time, wouldn’t we?
After four years it doubles again, from 100 to 200 customers, producing 60K per year. Do you see the Power yet?
Now to let you in on a secret, these examples are actually real examples within a real company I am involved in.
But Would I Have To Do A Ton Of Work?
Anything worthwhile takes a lot of work, as we all have heard, but the interesting thing about this company, is after your website is built and properly running, it practically does all the work for you, earning you income night and day!
You can not stop it either, it just keeps on producing and producing and producing, while you go do something else, like go on vacation, or start a full time Gospel Ministry, or you just start donating to your favorite charity.
The beauty of this method is that I no longer have to bug my friends or families to see my business.
I love that. Also, I do not have to cold call anyone, or try to convince some strangers how good my company is.
The Website does ALL OF THAT for me! Whoo hoo! And this is a business you own and your children can inherit!
But I am No Good With Computers and Know Nothing about Websites
Imagine having an online community that numbers in the thousands that are willing to help each other with any and every question we have about how to build our websites.
Imagine that many of these people are already making over five thousand dollars per month from their websites and have all the experience that we can tap into.
It is all true, I have never before seen over the last forty years such a wonderful online community that helps one another with the growth of their business’s.
The most amazing thing that I was impressed with when I joined was that there was no hype.
I was sick of all those online Gurus showing their HUGE PayPal commissions in a screenshot, or their fancy mansions, or vacations.
Our online company has none of that, no showing off, no hype, just good, honest, hard-working people helping each other every day to succeed.
I know, it sounds too good to be true. It is true.
This must cost hundreds of dollars a month!
No, you can become a starter member today for FREE, and with that starter membership you get to build two free websites as well, they are your very own websites.
Also included is ten free lessons on how to get your website up and running. You can remain a free member as long as you choose, as well!
Why not take a look? I promise you it is all true. Click here for more information.
If you have questions or comments, please feel free to leave them at the bottom of this page. Thanks!