Residual income definition is simply earning a monthly income from a job that you did only once. And when you do the job again your income will increase and the new job profit will add to the last job you did and build a momentum of income increase month after month.
Let’s say you have a product to sell, and when you sell it you earn an income from it, but after selling the product it’s over, you need to sell another product to make another income. But when you have a service that you provide monthly, the first sale will keep bringing the same income month after month, but also here you will need to keep providing the service month after month.
Both examples do not generate a residual income that we seek.
The residual income we need is the income that requires one time effort, and the more work we add the more income we have. The increase in the income does not mean an increase of the effort we are doing.
The best example of a residual income business opportunities, are network marketing opportunities and MLM opportunities. To make it clear we will have an example.
One of the best network marketing opportunities online is MyWorldPlus, it a membership card that allow members to save money shopping or through all their spending activities. They promote their service through network marketing.
You can join this opportunity with monthly fee of $19 per month; they have two levels of members. I am a member and associate with MyWorldPlus, and after promoting the opportunity for 2 years now I have a lot of members but one of them is Nancy, when Nancy joined the opportunity through my promotion, I earned a $9 commission, so my job is to bring members to the opportunity through promoting the opportunity online. And when I signed Nancy in my team, I did the job once but I will keep getting the $9 commission every month as long as Nancy keeps being a member, and Nancy is a member for almost 2 years also. That mean I did the job once and I have been paid for 2 years and keep getting paid.
Now better than that, I helped Nancy to do the same, and she has managed to sign a new members in her team, and she also building her own residual income from the opportunity, but also I am making a small commission from her own work and for each $9 she earn I earn an extra $2 monthly.
That is not only a residual income but a lot more, with network marketing opportunities you can earn from the work you are doing, and from the work your team is doing.
There are other residual income business opportunities online like affiliate marketing, but here you need to promote an affiliate offer that generate for you a recurring affiliate commission. So you need to promote an affiliate monthly service.
With the internet you can generate residual income without the need of creating your own products or services, but only by promoting other people products and services. And do not panic from the term promoting.
Also the internet makes it very easy to promote any offer online, fast effective and easy.
For example I knew Nancy through the Hi5 website, she was a very active member with social networks and she had a lot of friend with Hi5 and Facebook. And after joining network marketing she used this advantage to promote her residual income business through her favorite social networks and in 2 month she reached a $2000 residual income. Now she is one of the best network marketers.
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