Ways to Create Passive Residual Income- The smartest ways to make money Online
When running a business you must know by now how much income it can bring as you put all your efforts into it. It is true that there is however a limit to this one and you will want to know how to create passive residual income that can reward more your efforts.
The Internet allows for multiple sources of passive income – many website owners have earned more than enough to quit their regular job and retire comfortably.
What is “Passive Residual Income”?
Before we begin further on this topic, lets briefly summaries it for those who don’t know what it means. Well, this is a very popular term on the Internet you might have heard many times without paying much attention. Passive Income is the money that you get for long indefinite time without putting any constant or regular efforts.
Passive income can be generated with a single effort and you get paid with this for a regular time. And, ‘residual’ means -“something remaining after the bigger share or amount has gone. Like, royalty from publishing a book. Getting regular rent from your property also comes under passive income. You can earn passive income along with your main job.
You enjoy full freedom and flexibility while generating a source of passive income . Some people have many sources of passive residual income .
10 best ways to Generate Passive Residual Income online
At these tough economic times, the demand for residual and passive incomes has grown like bush fire. meanwhile, globalization has created several opportunities for people to make a constant flow of income from various internet based schemes.
Perhaps it is important to first understand what passive and residual incomes are. Passive income – as opposed to active income – is the money that you earn even while you sleep. In other words, this is a type of income that does not require active participation of the investor after the initial investment is employed.
On the other hand, residual income refers to a series of recurring payments that are received long after the initial sale is made, usually in specific amounts and at regular intervals.
Here are the 10 ways of earning passive residual income online constantly:-
This is a placement service for advertisements that is offered by Google. It mainly targets website publishers who would like to place ads on their sites and earn income when the site visitors click on these ads. Actually, so long as you own a website, you should definitely learn to earn a living with Adsense.
Adsense is the most generous “pay per click’’ program you can find on the Internet. Regardless of how many pages your site has, you can make a very decent monthly income with Adsense. All you need is a website, search engine traffic, good numbers of blog visitors.
This is a top notch online retailer for digital goods – it has the largest variety of e-books, audio downloads, software and other digital goods at the ClickBank Marketplace. By joining Clickbank as an affiliate, you can recommend any of these products. Because of the digital nature of the goods, the product vendor’s costs are usually very small. This means that you can earn commissions as high as 80% on some sales.
3. Affiliate Programs
Affiliate programs also allow one to earn money passively. There are hundreds of affiliate programs out there, each with their own advantages. Perhaps the most important question to ask yourself is how to choose the highest paying affiliate programs. You may need to consider two-tier affiliate programs, recurring commissions and lifetime cookies.
With two-tier affiliate programs, you earn money not only when you refer sales, but also when your sub-affiliates refer sales while with recurring commissions, you only have to make the sale once, but get to enjoy a lifetime stream of income. Lifetime cookies allows you to get your hard earned income even if the person you referred makes the purchase after a long period of time.
4. Selling your own e-goods.
It is very easy to sell your own e-goods. Unlike printed versions, E-Books do not have to be as polished; neither do they have to be 300-400 pages long. E-Books often answer a specific question such as “How to lose weight rapidly” or “How to accentuate your beauty in ten days”.
All you have to do is get to the point and solve the problem for your prospective customer succinctly and sit down and wait for a continuous flow of income.
5. Selling advertisement space
Selling advertising space can be among the most lucrative sources of online passive income once you have enough site traffic. All you have to do is post an advertisement on your site for a fixed amount of time and count your cash.
You can make use of advertising options like text links, banners, advertisements in monthly newsletters, sponsored reviews and video ads to boost your earnings.
Royalties from having produced a piece of music, from a film or from continued sales of any product are among the best ways to create passive income, especially at this time when the entertainment industry grows by the minute.
7. network marketing
Multi-level Marketing (MLM) / Network Marketing is a marketing strategy that was designed by companies to promote their products or services through independent distributors, offering multiple levels of compensation. If you member yourself with one of these program providers, you can be assured of a constant flow of income.
8. Search engine optimization
Search Engine Optimization allows websites to rank highly on the Google search result pages. This translates to high rate of traffic to the site, which in turn leads to high returns on investment. You can sell your own SEO services online or join various top sites as an affiliate. Find out the best websites to sell SEO services online
9. Real estate
Traditionally an offline mode of getting income, the real estate sector has also gone online, and it is a great source of income for online real estate agents. There are mainly four ways through which you can earn a living in real estate: cash flows, depreciation, appreciation and amortization.
Though this thrives on an offline mode, you can also create a website and establish a customer base that will allow you to build a large pool of customers. Once you have a large enough customer base that renews yearly, you can be sure of a constant income flow, but this takes a long time to build up and requires ongoing rebuilding.
In a nutshell, the Internet has revolutionized our lives in many ways: the way we obtain information, the way we spend our time, the way we communicate with our friends and family. Even more importantly, the Internet has revolutionized the ways we make money Online.
But there are some way that you can make use of without having to invest in them and still generate more income. Here it is how:
#1- You can resort to network marketing
Companies can not ask their employees to do more work than they are paid to and beside that they won’t be either way motivated knowing that their extra work won’t allow them to have a consistent share out of your profit.
Network marketing is a way where different companies have their employees involved into promoting their business products while giving some share or commission out of it. This marketing system is a concept built on spreading the news from one person to another and each of them benefiting from a fee of the sales amount.
This system has proven very efficient in industries such as telecommunication, beverages and others that have emerged on the market as innovative enterprises.
#2- Another way to create passive residual income is to own a property that can be rented for obtaining profit
It is a constant income that can never get lost along the way. Even if one tenant leaves the premises, there is always another one to fill the place. There are indeed some costs incurred into maintaining the property, but they are very low as compared to the profit obtained from renting.
This is also called passive income because you are not doing anything actively on regular basis. It is a one time setup or investment.
#3- How about creating ways to provide information over the products or services you offer with your business?
There are so many ways that won’t require spending a dime and one of them is by using internet venue where you display your services in the form of writing an eBook or have a video or audio record of your business and then allow customers to download it for a minimal fee.
This is another way to create passive residual income in an easy manner.
#4- Be creative and make use of the royalties on an intellectual property patent or from book sales
People these days are always in need of sharing knowledge and for this reason technology is used to have data transfer and provide them the information they need. Once you your business described in the form of a book or a video description you can always have these users pay for the copyright or for the rights of transferring further your information.