The concept of residual income or passive income is probably one of the most important concepts you will ever learn in your lifetime. I know. This is a pretty big statement. Well, it's a pretty powerful concept. Anyone that can master the concept of residual income is on their way to a pretty comfortable lifestyle. Simply put, residual income occurs by building a system one time that can produce a recurring stream of revenue once the system is set up. This income arrives on a regular basis. It can occur on a monthly, weekly, or daily basis. The frequency depends on the business system itself. What's so great about this is if you are willing to work hard and build a residual- based system in the initial phase, you can reap the benefits from this one-time labor for years to come. If you look around you, you will see examples of residual income all over. For example, when you pay a internet service provider, web host, telephone bill, or cable TV bill; they are receiving a regular recurring income for providing their service to you. The valued members of a website provide the owner with a regular, recurring monthly income. In return, they are provided with valuable information. Residual income is what you want. Unfortunately, there are many opportunities available that really do an injustice to this concept. Seriously speaking. Doesn't it make sense to make a recurring sale of a product rather than a one time sale? Of course it does. Yet so many people just don't get it. Master the concept of residual income and you'll master your destiny. Copyright 2005 Romel Wallace |
