Residual income is one of the most powerful forms of creating wealth and cash flow on a monthly basis. People often make the mistake of thinking that the only way to make money and create passive income is though MLM (Multi Level Marketing) which is entirely wrong.
There are many different ways of creating residual income from many different methods. While
Residual income is based upon working hard once and then continuing to get paid over and over again year after year. Therefore any product or service in which is offering reoccurring commissions can and should be considered as residual.
In many cases people do not realize how much money there is to be made in reoccurring commissions. Knowing how much each customer is really worth is key to creating residual earnings as well as any business. In order to determine how much each customer is worth (annually) you must multiply the monthly commission by 12 months. Sometimes even the smallest commissions add up.
For example if 1 person is paying you $10.00 a month then each person in this example would be worth roughly 120 dollars. So if you are able to average 5 sales a month for one year’s time, every client would be worth potentially $7,200.00 in future sales without doing a thing! That’s 5 sales a month x 12 months = 60 sales. 60 sales a year x 120 (how much each client is worth based on 1 years time) = $7,200.
There are many different types of residual income business opportunities, from loan companies, to web hosting to affiliate programs. Why is it good to have more than one residual earning program? Because if one market takes a hit then you still have multiple streams of residual income to fall back on.
One of the hardest things to do is create value in the network marketing community of ongoing commissions. It’s not that there are not programs that are indeed worthy of mentioning or that create value, it’s just that over the years some
It is all too often that we see the opportunities arias for us to truly create wealth with one of the easiest ways to make money, However even with knowledge of power of residual income we often don’t have the courage to take action.