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| | Post New Topic | | What is residual income? | Views: 292 | | Oct 09, 2008 11:27 am | | What is residual income? | # | 
Terry Stewart | | Residual Income is another term for “recurring” income. Basically there are
three types of income streams that you may have coming into your business.
If you do a one-time job, sale or perform a contract, you get paid once and
the income stops there. If you do a normal 9 to 5 job, you will continue to
get paid as long you continue to work for your employer—often called a
linear income. This is the type of income that the majority of workers
“enjoy.” Even if you are a neurosurgeon, lawyer or engineer, you are only
paid as long as you continue working. You stop working and the bank
account dwindles.
The third type of income is the residual or recurring income where you are
paid even after you have stopped working. For example, let’s say that you
wrote a book. You had to go through the tedious task of researching, writing
and getting a publisher. However, after that initial investment, and as long
as your book continues to sell, you will continue to receive royalty checks.
A majority of affluent people created wealth through a residual income
stream. Take singer Michael Jackson for example; he still continues to
receive royalty from the sales of his records made decades ago. He can even
repackage the same oldies and sell them to generate new income. He
doesn’t have to spend time in the studio to record new songs in order to have
the cash keep flowing in. This is the most ideal situation of the three. We
would all like to work once and get paid over and over again. That is the
power of residual income!
The majority of professionals that enjoy this type of income belong to the
creative fields such as actors, writers, singers, and inventors. The field of
Network Marketing or Multi-level Marketing (MLM) has also been
instrumental over the past 60 years or so to make the residual income
concept very popular and attractive. Here, you can build a network of
distributors, referred to as your ‘downline’, and generate income outside of
your own immediate effort. Working for an MLM company is one of the
most feasible places where you can generate residual cash, and so we will
now take a look at the secrets to being a successful network marketer.
All the best
Terry
Discover a Proven 3 Step Strategy That
Explodes Your Primary Business Guaranteed!
http://www.achieveitnow.ws/go.html
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