When it comes to earning money, you can take two paths. Sell a product or service once and make a few dollars, or sell a product or service that will earn you an ongoing residual income. Residual income (otherwise known as passive or recurring income) is any income you receive on a regular basis that requires little to no effort on your behalf to maintain it.
Pensions and rental properties are prime examples of passive income you may receive. But how can you earn a recurring income with little effort on your behalf? Let’s examine three examples of ways you can earn a passive income with no additional effort.
1. Publish and Transfer the Rights
Have you considered writing a book? Are you capable of writing a computer program? Intellectual or informational products only require your attention once. After completion, you can transfer your rights of the product to a company, and they can pay you a percentage from each copy sold.
You don’t have to be the next great American author. You don’t even have to know the difference between C++ and PHP. All types of products can be transferred to someone else to earn you income.
• You could write a song, and earn a residual income every time it gets played on the radio.
• You could shoot a self-help video and transfer the rights to a larger studio.
• You could snap a beautiful picture, and upload it to a stock photo website who would pay you a royalty every time someone downloads your picture.
Transferring the rights of your product to a larger company definitely has its advantages.
2. Create and Sell Your Own Informational Product
While large publishing houses can help boost your income, there are also benefits to self-publishing. A product with a low price point won’t make you rich if you only earn a percentage of every sale. If you decide to self-publish your product, you will earn 100 percent of the profit.
Self-publishing also gives you complete control over how your product gets marketed. With some of the larger publishing houses, new titles are being released on a regular basis, and you may find your product getting buried behind the more recent titles within a few weeks. Self-publishers can earn residual income for a much longer time, as long as people are willing to buy it.
3. Find the Right Affiliate Program
These types of programs go by a variety of names: reseller, associate, referral, bounty or affiliate. Regardless of the name, the game remains the same. Earn a commission every time you sell someone else’s product or service. This is one of the most popular methods of earning residual income online.
The better affiliate programs require only a small amount of effort on your behalf, and provide you with all the promotional material you will need in order to make sales. By providing you with a unique ID number or a branded website, the company can track where sales originate from and pay you every time your referral led to a sale.
Not all affiliate programs offer an ongoing recurring income, however depending on the type of product or service (think about a Web hosting affiliate program for example), you may earn a recurring residual income from one single sale.
There are many other ways you can begin earning a residual income, but these three can get you started on your way to making more money with very little added effort on your part.
You’ve made the decision to become self-employed and work from home, but the online jobs aren’t as easy to secure as you had initially expected, and your dreams of being a work at home mom are beginning to fade away. Don’t let this stalemate prevent you from following your dreams of running an online business. There are still solutions that could help.
Affiliate programs (sometimes called associate programs) are great for moms who need to start earning money but who don’t have much time to dedicate to their businesses, especially during those early days when you’re still working around small children with big demands.
All you need to join an affiliate program is a business blog that can be set up through Blogger or Wordpress, or a business website that can link to these programs.
An affiliate program is a system that many companies use that allows them to advertise their products or services on your blog or website and pay you on a commission or per-click basis (which means that when someone clicks on their link on your site, you earn a commission).
When picking an affiliate program to promote, it’s important to do all your research and keep safe; only affiliate with companies that you trust, or that have been recommended to you by other stay at home moms. Always remember that there are a lot of nasty people out there, especially on the Internet.
It’s strongly advisable that you affiliate with businesses that are related to your own business products and services in some way. This is because your customers and clients are far more likely to click a link that is related to what brought them to your website or blog. For example, it’s highly unusual for a customer to click on a link to buy children’s clothing if the service you’re providing has no relationship to children.
Be flexible and don’t be afraid to join several affiliate programs. Basically, the more links to affiliate programs you have on your business website, the more clicks that could potentially be earning you money.
The best area of your website for adding affiliate links is the home page. This is the page that the vast majority of your website traffic will initially reach. But this isn’t the only place that affiliate links could be used for optimum power.
Update your business blog and website regularly, adding new affiliate programs, rotating banners and buttons for the ones you have, and removing any that aren’t producing. But don’t fill your site with links and ads only! The more quality content you have–such as fresh and original articles, related resources, and helpful information–the more opportunities there are for making a real income linking to relevant affiliate programs.
posted by Chris Simpson
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Tuesday, September 15th 2009
With technological advances and the extreme popularity of the Internet, online job searches are vastly becoming the way to go when you’re seeking online employment or a business opportunity. In fact, many companies that are hiring now only accept email or online applications, and this is becoming the standard across many industries.
So, if you’re seeking employment, or if you want to find some work at home job opportunities, the Internet is definitely the most reliable place to find suitable positions.
A good way to start with your online job search is to write a list of all the companies that you would be interested in working for, and then check the websites for those businesses. The majority of companies, especially larger ones, advertise all of their jobs on their websites, and many even accept applications through the sites now. This means more money left in your pocket because you don’t need to spend money on paper, ink, envelopes and stamps to mail resumes, or gas to drive all over town!
The Internet is teeming with employment agencies that have plenty of advice and help, not to mention hundreds of job vacancies that you can apply for. All you do is upload your resume or Curricula Vitae (CV) to their database, and the agency network will do most of the hard work for you. Just declare your interest in a position and they’ll take it from there.
It’s also worth your while to type your field of work into a search engine and find out if there are any recruitment agencies that specialize in your area of expertise. You may even discover some companies that you were unaware of that offer the perfect job just for you.
Social networking is an excellent place to create a network of potential employers. Start conversations with anyone working in your field of expertise, and show them exactly what you have to offer-as subtly as possible, of course. Then, if by chance, the company they work for is hiring, you might spring to their minds and you could find yourself in a new job.
While you’re looking for employment online, there are plenty of business opportunities that could help you financially until a full-time position comes along.
If you have a personal blog or website, join a couple affiliate programs. With affiliate marketing, you could be earning money every time someone clicks on an advertisement strategically placed on your blog or website.
Even when you find that highly anticipated job, you can continue to earn money on the side by promoting your affiliate programs. In the meantime, Happy Job Hunting.
posted by Chris Simpson
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