A great way to earn extra income is by making residual income online. This can be an excellent way to earn more money online and definitely should be explored by online marketers seeking to earn more money.
Residual income is earned through making continuous income on a recurring basis. An easy way to explain this is to think of a singer songwriter like Elton John who earns residual income.
Earn Residual Income
He wrote a song several years ago called “Your Song” along with Bernie Taupin.
This song proved to be very popular and went on to be a hit record across the world.
To this day the song is still very popular and different versions of the song have been created by various artists.
Each time this song is played on the radio, or downloaded from iTunes etc then Elton and Bernie earn a royalty which is also residual income.
Basically, they get paid on work which was created more than 30 years ago. This is a great way to earn extra income.
Just imagine creating a product or service and getting paid on it even if you don’t do anything more to it. People enjoyed your product or service so much that they were willing to part with their money to purchase it.
A recent example of someone who has created residual income is J K Rowling. She wrote the “Harry Potter” books and it is well known that she wrote the first book whilst sitting in a cafe with her children.
Get Paid Residual Income Forever
The “Harry Potter” books and subsequent films are a marketer’s dream. J K Rowling has made over a billion dollars through marketing the “Harry Potter” franchise around the world.
She gets paid on work she created and will continue to get paid even if she stops writing any more “Harry Potter” books.
As an online marketer you can also earn extra income by making residual income online. You could join an affiliate business and promote their business.
Earn Extra Income Through A Network
Each time someone joins the business then you could get paid a recurring commission every month. Once again, you get paid on work you initially did in the past.
You may be involved in an MLM business and each time someone in your teams sells a product or sponsors someone into their team then you could earn a royalty commission.
Some of the top earners in MLM have built a big customer base and team of distributors and therefore potentially can earn extra income.
Residual income is an excellent way to earn money online. It really is about building a network and getting paid on what your network produces.
Why not create the opportunity to earn extra income by having a network of 100 people instead of just 1. You have more likelihood of making money online by growing a network in your online business.
One of the great ways to earn extra income making residual income online is with affiliate marketing. With this form of online opportunity you don’t need to be concerned about creating an actual product or service. Instead you just need to promote an affiliate program or affiliate programs.
One of the best affiliate marketing training platforms available is Wealthy Affiliate University. Here they teach you EVERYTHING you need to know about how to start in affiliate marketing all the way up to showing you how to make money in affiliate marketing.
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