subject: The Myth About Residual Income Online [print this page] The Myth About Residual Income Online The Myth About Residual Income Online
Everyone wants to have money automatically come into their account. Internet Marketers normally define residual income as a passive income you get month after month for no work on your part at all.
It looks good. It sounds lucrative. However, is it practical? Let's explore some misconceptions about residual income.
First of all, always consider anything that you do online to make money as a business venture. There are no cheap tricks. You don't make money by building a "magical page" and bringing in traffic. You, at all times, are still trying to build a "business." Only if you view it this way will you ever take your online efforts seriously.
In any business, you always have to continually put in efforts. Internet Marketers make it look as if you earn residual income year after year without additional efforts, but that's not true.
Normally, a marketer reinvests his profits in order to expand both his business and his profit. That's what most of us like to do. Also, it takes a lot of efforts.
However, if your aim to make have a passive income source of a decent amount, then you won't concentrate on expanding your business. But, you still need to put in efforts in order to sustain your current level of profits.
Let's say a person makes money building niche sites. To expand his profits, he'll build more of them. Promote them thoroughly. His aim would be to increase his income gradually. Now, if he only wants a passive income out of the niche sites, he won't bother creating more of them. He'll promote the sites occassionally when the traffic seems to drop. In short, he'll only try to "sustain" the site's profit at some manageable level.
Can you see the difference? In the first case, you're trying to expand your income. In case of passive residual income, you only work towards sustaining a certain decent level of income.
Recurring affiliate programs, 2nd tier affiliate programs, and even Adsense are a good source of residual income. However, you can't just set it and forget it. Some recurring customers might quit the program. So, you need to keep on converting customers, albeit at a smaller rate. In case of Adsense, you need to make sure that you get traffic consistently.
Residual income is not achieved "effortlessly." It just takes less efforts. But you also get lesser income than the actual potential. Remember, it's just a different business model, not an "easier" business model. So, the next time someone claims that residual income is the next big thing, watch out.
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