You can easily build extra income online. The smart way to make money is through residual income projects or having multiple streams of income. Hard times or not, an extra income is always welcome. With Internet, one can find several streams online if you look smartly.
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And here also is some advice:
By Stephanie Ly
As we all grow older and have increasing amounts of commitments both financially and family wise, we often stop and think, "How much more should I work to pay off the debt?" or "to take the family on a holiday?". Truth is there will always be a limit to how much money you can make while working for someone, no matter how many hours you work or how much bonus you get, you will exhaust yourself of your own time and energy, thus, leaving you no time to enjoy the money you make. The smart way to make money is through residual income. Residual income is income that continues to be paid to you over and over again after you have put in the work once.
The Internet is a growing medium with many opportunities for people to earn a residual income; here we look at the top 3 residual income ideas.
1. Multi-level marketing (MLM)
MLM, also known as network marketing, has been around for decades and is based on the idea of you being compensated for your efforts in promoting and selling company products. In addition to that you may also be compensated for referring new members to the company and earning money every time your referrals generate a sale as well as earning money from their referrals and so on, hence the term "multi-level". Depending on the company, the number of "levels" you may be compensated for may vary greatly. Your aim in joining a network company is such that you work solidly to "build a network of referrals" under you and be continually paid for all sales in the future, thus creating the opportunity for residual income.
2. Write articles for self publishing websites
Websites such as Squidoo or Hubpages are online self publishing websites which allow you to write articles on virtually any topic of interest. By writing articles on these websites you are creating a subpage within their community website. These subpages are monetized with advertisements which can earn you an income from the day they are published. Usually you article stays within these websites indefinitely and therefore give you a residual income stream as long as they exist.
3. Create and market your own information products.
The Internet is an online reference library full of knowledge from around the world. One of the best ways you can earn a residual income is by creating your own information product. For example publishing an eBook on healthy eating habits and exercises will definitely attract a vast number of consumers. There are many benefits of having your own products, namely, 100% profits in your pocket and complete control over the marketing of your products. Developing your own product may seem difficult and time consuming but by far has the best advantages.
Overall, the Internet has opened up many doors to earn residual income. Stop trading time for money, there will never be enough hours in the day for you to earn all the money you can. However, if you can work smart and earn money just working once, you can save on time that can be used for things you love to do.
These are only a few residual income earning ideas, taken from the online home business website, where you may find other online home business ideas and resources.
Stephanie is an internet entrepreneur and the owner of Work From Home website, where she shares with others the best online home business ideas and opportunities available to date as well as helping others start their own Internet home business.
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