What is Residual Income:
There has always been that one thing that I had been looking for in this business of marketing, and that is a system that creates a lucrative income. Residual income is when one continues to earn money after their work is already done. What this means, is grow your team as big as you want because in the end you will be reaping the benefits of residual income.
A traditional job for example is 40 hours a week, which you get paid for. For many people its case and point, if you are not working you are not making any money. To set yourself up with a nice residual income takes a lot of time. Yes, a lot of your personal time where you are not getting paid, rather setting your business up to pay you your residual income for years and years to come. Like I have always said, when set up right and implemented correctly the residual income you create will certainly outweigh your average 9-5.
There are many ways to generate more income for yourself. Post articles on your blog about the products that you are selling and that you use. Facebook is always a solid bet for things like this along with Instagram etc. Email autoresponders are also great tools for collecting prospects email addresses and phone numbers. All it may take is just one of your autoresponder emails to spark an interest in prospects to convert to sales. Resource pages will help. Tell your audience what you are using and the results you are receiving. It will go a long way, because people like to see exactly what you and your product are about.
Chart on Residual Income
Residual income is not just hands off and watch the money pile in. As mentioned before you will need to put in hours of work upfront, but in the end, it will be worth it. This is not a onetime setup and you’re good to go. Consistency is what it is all about. Be consistent and stay relevant with your audience. Without consistency you can say good-bye to that residual income. Treat your website and product as a business. Update your funnels to keep new prospect maximization at its highest. Businesses create new content every day, so you need to do the same.
Taking the time to setup your business to operate giving you residual income is worth its weight in gold. The saying goes, “you might be on the right track, but anyone will get run over if they just sit there!”