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Since the entrepreneur has prepared the content, all they need to do is watch the money roll in (of course, only after theyve gained a following and marketed the hell out of these )!
In the electronic era, knowledge is powerand money. Selling your knowledge through online merchandise is big business. Why not tap into it
Obviously, the selling of manufactured goods or products is an age-old source of income, but is it passive income It could be, depending on the business model. Some of the most common sources of passive income via product sales are:
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Product Distribution: Companies that enable individuals to become product vendors and earn a return on their customers purchases are another source of passive income. As with any other sort of passive income, if you invest up-front (by recruiting loyal customers), the long-term benefits can be enormous!
Affiliate Programs: As an affiliate, you market a companys products or services on your site, and you receive a percentage of their selling when someone clicks from your site to buy it. If your website gets lots of traffic, then you can earn a pretty penny from affiliate links!
This is exactly what dreams are made of. Youre making money even when you arent doing anything. This means that even if youre sick, traveling, or dont feel like working, the money youre your passive income source(s) continues to roll in.
The thing about earning money from a corporate occupation would be, no matter how hard you work, no matter how fantastic you are in your job, no matter how much extra time you log, then there'll always be a limit to your incomethats why the term salary cap exists.
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In part three of this series we'll discuss the differences between remaining income and passive income. Both of these terms are often used interchangeably, but in fact they are not the same thing. There are some similarities, but there are also some big differences between residual income and passive income.Before I proceed onto part of the Residual Income Series. .
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First, lets take a peek at what passive income is. Passive income basically includes any money you earn without doing any work. Often times this money comes in investments of time or money that you have already made. With passive income the person does not have to be directly involved with all the money that they are making.
Residual income includes payments that you will get after a sale. Usually these payments have been agreed next page upon in advance and will continue long after the purchase. A fantastic example of this is royalties that someone gets to get a movie or book. They only write the movie or book once, but it can continue to be sold and resold again and again, which allows you to continue to make money from your work.
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Earning income can eventually turn into passive income over time, as you can eventually earn money without doing an extra work. .
Now that you know the differences between passive and residual income, it is time to learn about some of the most common methods people use to earn residual income:
-Selling goods online: This is one of the most common methods to earn residual income. It usually involves a fee which has to be renewed each month or week, which will allow you to continue to create money after the initial sale.
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-MLM Network Marketing: With MLM network marketing you'll recruit representatives to go outside and find new customers. You will get paid a percentage for each sale that they make, which permits you to make residual income even after the recruitment is finished.
-Affiliate Programs: Affiliate programs often fall in between passive and residual income. Although a lot of the groundwork has already by lain by the parent company, you might will need to do a little bit of job to take advantage of it.
If you can reach the point at which you are earning passive or residual income (or both) then you know things are going right.
