How to Increase Residual Income
Most women are not taught how to increase residual income.
Many of us don't even know what this means!
Many of us dream of not having to be chained to a job, or having the freedom to travel, take a day or a week or even a month away from work … but we've never taught HOW to do this.
One of the myths that many women are taught is that you have to grow up, get a good education, and get a good job.
That method of developing right livelihood and a solid financial future may have worked way back in the 20th century, but it no longer offers the solid financial security that women of today are seeking.
What is residual income, and why would you want to increase it?
In a nutshell, residual income is income that comes in even when you are not working.
It sounds too good to be true, but it is exactly what many smart women have learned to do.
Familiar Ways to Increase Your Residual income
We've all heard about these ways to strengthen residual income, and in today's world these are becoming options that are more in the realm of possibility for women.
- Artists, writers, inventors and other people who create something unique are paid each time someone buys their artwork, books or inventions.
This is known as royalties … they did the work once, and are paid every time someone enjoys the fruit of their labors.
Residual income continues to come in even many years after the work was done.
The artist can increase residual income by creating more art, writing more books, or by expanding the number of people who buy their existing work.
- Another well known method to increase pertaining income is through real estate investing.
Purchase an apartment building with high net operating income (that's important!) and you can be paid a profit each month when your tenants pay their rent.
Real estate investing requires some business savvy and know how, and one of the most exciting things about it is that you can find ways to get started with little or no money down.
My brother Steve did well in real estate through studying Carton Sheets real estate course, and my friend and colleague Terri has done very well studying with Robert Allen's real estate mentoring program.
- For the very few, some lucky souls are born into or acquire large sums of money.
If the money is invested wisely, the money will pay interest and can increase residual earnings over time.
New Ways to Increase Residual income
Nowadays there have been two major breakthroughs in the world of business that allow more people to increase residual income, even those who are not artists, authors, or inventors.
Those two breakthroughs have leveled the playing field and are allowing many more people to earn income even when they are not working!
- The relatively new industry of network marketing and direct sales, allows business owners to earn residual income from the repeat product sales of their customers, and from the customers of those customers.
Network marketing is a thriving industry, though it developed a bad reputation in the early days as unscrupulous distributors who were not properly trained abused the relationship marketing aspect of the business.
Nowadays there is a more healthy approach taught to network marketing distributors, and the industry is gaining credibility.
- The advent of the internet has opened up a whole new world of business possibilities, allowing anyone with a computer and internet connection to put themselves online and share information, products and services.
The internet has allowed many women to increase residual income in the following ways.
Women write ebooks or develop software products that can be sold online.
Once the product is developed and marketed, sales continue to occur long after the work is done.
Women build websites, build traffic to the website, and place advertising or affiliate merchant links on the site.
Once the site has steady traffic, the website owner is paid any time someone clicks on an ad, or purchases a product recommended on their site.
They can increase residual income by building traffic to the site, by adding more information to the site, and eventually by developing other websites.
Women create a membership website that offers valuable expertise, information and services to members.
Members pay a monthly, quarterly or yearly fee to access the services, and the website owner can increase residual income by bringing in more members to the site.
On a website by Kimberly Abader and Ahmad Ben you can find the article below.
It's a long and interesting read, so sit down with a cup of coffee and enjoy ☕️
How You Can Increase Residual Income
The first step towards increasing your residual income is education.
I started to build an online business as a solopreneur only after I put in some learning effort and hours!
Learn as much as you can about yourself, your gifts, talents and unique strength, and learn about the different kinds of business opportunities available that may match your abilities.
I encourage you to make use of all the resources here on our site.
If you would like to learn more about earning income through the internet, this free e-course will teach you how to increase residual income not by hype and fast promises, but by discovering what YOU love and then building your OWN business.
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