Would You Rather Earn $10 Per Hour or Work Once and Get Paid Forever
by Terry Dean
Most people have had it ingrained in their mind that you should
be paid per hour of work. You work an hour. You get paid.
You work 40 hours and you get paid for that 40 hours.
This type of earnings is called linear income. If you get a
raise, you get paid more per hour. If you go to college and
get a degree, your income is increased again.
You may be earning $30 an hour instead of $6, but it is still
only linear income.
A complete change comes in your mindset once you start earning
residual income.
Residual income is when you do the work once and continue to
earn profits on it month after month. It could also be when you
make a sale once and continue to profit from it over and over
again.
It is passive, recurring income that comes to you every month.
Think about it for a moment.
Working on an hourly wage is the hardest way in the world to
become wealthy. Yet, most people have been brainwashed into
this trap.
It isn't about your dollar per hour wage. It's all about
leverage and residual profits.
Billion dollar CEO's aren't wealthy just from their huge
incomes. It's from their stock plans and profit sharing.
Musicians and movie producers leverage their talents to receive
royalties.
Stock investors leverage their money into yearly percentage
increases in stock prices.
None of these people are paid per hour.
They're paid residual incomes which can continue long after the
initial work is done.
Every online business person needs to apply this principle to
start earning residual incomes.
Here are a few of the ways you could be earning residual
profits in your business:
1. Your Own Membership Site - If you run a monthly membership
site, you can receive income every month from your customers
without constantly having to resell to them.
2. eBooks - One of the reasons many people write ebooks is to
setup completely automated system through Clickbank.com or
other processors. And you can even insert links to other
products so you receive residual backend profits.
3. Share of Profits - Many top-notch consultants and
copywriters charge a base fee plus a percentage of profits.
They do this to get out of the per hour mentality and it earns
them considerable more long term residual profits.
4. Consumable Products - There is a reason the most successful
network marketing companies often focus on nutrition and other
types of consumable products. These products get used up each
month and are perfect for auto-ship programs which creates
residual monthly profits.
5. Residual Affiliate Programs - There are now quite a few
affiliate programs which pay residual commissions on sales you
make. You sell the product or service one time and then
receive a check for every month they continue to use it.
This is the quickest and easiest way to residual profits for
most online businesses.
This is the method I want to focus the most attention on since
it's something you can use TODAY in your business.
Below are a few of the residual affiliate programs I'm a member
of and receive checks from every month.
Residual Income #1: Netbreakthroughs.com
This is my own membership site so of course I'd recommend it.
If you'd like an independent review, Jim Daniels of
http://www.bizweb2000.com includes it as one his top commission
producing affiliate programs.
This membership site contains weekly advertising reviews
showing you where to advertise, advanced monthly training
reports, and personalized help in the coaching section.
Residual Income #2: http://ebookswholesaler.net
This web site provides you with resell rights to exclusive
ebooks every month. They even allow you to brand these ebooks
to produce backend sales for yourself automatically.
You get rights to 31 titles, instant branding of the titles,
backend profits, and residual income from the site. It's an
awesome deal all the way around.
Residual Income #3: http://www.netofficetoolbox.com
How would you like to have a shopping cart which can
automatically follow-up with your prospects until they buy?
When they buy one product, it can remove them from that series
and drop them into your next product follow-up series. It can
even build you a completely personalized database of customers.
This tool can do all of this and more. Plus it has a complete
affiliate system built in as well and you can profit from
monthly sales.
Residual Income #4: http://www.bizpromo.com/autoresponder.html
There are a lot of autoresponder services and systems around,
but I host my Web Gold ezine on Aweber. This is because they
allow unlimited size lists and the autoresponder messages seem
to go out the quickest of any service I've used.
Compare $19.95 per month for an autoresponder and list
broadcast tool to the $ 400+ per month or more many listservers
are now charging. It's no comparison.
Residual Income #5: http://www.bizpromo.com/host.html
Everyone running a business online needs a web host. So I get
paid commissions from several different web hosts listed in
resources I've produced. This is one of the ones giving me the
best hosting checks.
Please note that I don't fully endorse any hosting company to
the max for one simple reason. They all have rough periods
and they all seem to cause me problems sooner or later.
-------------------------------------
Terry Dean is the webmaster of Netbreakthroughs and a dozen
other domains online...Visit today for up-to-date training
reports, our weekly ad diary, personal support, and more.
| DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware. |
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