Residual income . Two words that you may have heard more than once and that can change your life. In this post I will tell you how you can generate income with successful residual businesses . Let's start!
Given the current employment situation we have, knowing how to generate residual or passive income is of vital importance . Having this knowledge can mark your way of undertaking and even living, since you can create profitable businesses with little investment to generate extra income , or even that these become your main source of income.
The truth about residual income
On more than one occasion I have found blogs or videos on YouTube that ensure that residual income is something impossible to achieve .
These claims may be due to the fact that these people have failed to create successful residual businesses and therefore come to the conclusion that such income is a myth, but that someone does not get something does not mean that it is impossible to achieve.
I have never had the lottery, but that does not mean that winning lottery money is impossible since there are people who have become rich by playing the lottery.
I also want you to know that I do not talk about passive or residual income in a theoretical way but from a practical point of view, since I generate residual income myself , among other things, thanks to this blog, so I know what I am speaking.
Can residual income be generated?
And.
How can you get them?
At the end of this post I will talk about different methods to create successful residual businesses but first of all, let me start by defining what are residual or passive income for those who are the first time they hear about this type of income.
What are residual or passive income? Definition
The residual income are those that are achieved in automatic mode, as a result of an initial work you have done .
... that is why they are called liabilities, because they are generated without the need for you to be constantly working actively so that these revenues continue to be generated.
They are called residual income because they are generated over time.
When you work as an employee in a company, you generate linear income because you receive a salary for work done during a certain time. In January you collect the payroll for the work done the previous month, but you no longer charge more money for the work done that month. You only charge if you continue working.
Residual income is generated continuously by a job you did at a certain time. There is a continuous flow of income that lasts over time.
The good thing about this type of income or to create residual business is that you work in them for a limited time, and then receive an income continuously for such work.
Sound good right?
This would be anyone's dream.
Well, do not see it as something unattainable because residual businesses are available to any person and are profitable businesses that can be done with a minimum investment .
Examples of residual income
Before getting fully into online business that can generate passive income, let me give you several examples of this type of income.
1. Residual income renting a home or commercial property
This is the classic and clearest example of what a residual passive income is.
If you have a second home or a commercial one, you can rent it by obtaining a monthly payment that you receive every month in your bank account, without doing anything in return.
The problem with this method is that we do not all have enough money to buy a home and rent it.
2. Residual income when investing in the stock market
Anyone can buy shares of a certain company and sit and wait until those shares are worth more money.
This is a good example of residual income since you do not have to do anything to generate income either.
The problem is that to obtain benefits, you also need to have money, and just as you can earn money, you can also lose everything invested.
3. Residual income when creating a business and placing another person in charge
Another business opportunity is to create your own business and when it starts to work, you leave another person in charge of its operation, in exchange for a percentage of the profits.
With this method we have a problem similar to the previous ones. You need money to invest in the creation of the business.
How to generate residual income with successful businesses and with little investment
I stop being negative because if you do not have money to invest, you also have at your disposal the possibility of generating residual or passive income.
Thanks to the Internet, anyone has at their disposal the option to earn money residually . Here I explain 4 methods that really work.
1. Develop a plugin or Software
If you are a programmer, you can work on a WordPress plugin that performs some specific function for web pages on this platform or in a software for companies that you commercialize on the Internet.
Thanks to your initial work and if your plugin or software is successful, you can live comfortably of the income it generates.
You can learn more about this method here .
2. Create a niche page monetized with affiliates
A niche page is a website focused on a very specific niche where you offer a service or product from a third party as an affiliate, obtaining a commission for each sale.
Initially you need to work to create that page and to position it in Google. Once this is done, you only have to dedicate a few hours a month to, among other things, update content.
Every day there will be dozens, hundreds or thousands of people who are entering your website and who buy what you have to offer, while you do what you want. Everything works automatically.
An example of success of this method is Angel Alegre of Viviralmaximo.net , who created a niche page that generated income while traveling around the world. You have your story here .
3. Create an infoproduct to market it on a blog
If you have advanced knowledge about a certain topic, you can create an infoproduct to offer people interested in this topic.
The best way to market it is to create a blog where you become known as an expert on the chosen theme, building a community of subscribers who read your content and trust you as an expert on that subject.
Another option is to create an affiliate system where other bloggers also dedicate themselves to selling your infoproduct.
Franck Scipion of Lifestylealcuadrado.com is a success story selling infoproducts that has reached more than € 50,000 a month. You can read about Franck here .
4. Write and sell books
Finally, you have the option to write an eBook about a subject that you are passionate about and upload it to Amazon, the largest online store.
You can read about the success of Jose Noguera with this method here .
Start your residual income source
If this type of business has impacted you and you want to continue learning about passive income, I want to recommend 100 Passive Income , the Agustín Graucourse , an entrepreneur, investor, writer and trainer.
Agustín Grau has been living on passive income for years and has created this course so that you can learn to generate income without actively working on it.
In his course (Pdf and audio format), Agustín helps you find the ideal type of passive income for you and explains how you can develop it.
The course includes:
- 100 passive income (Pdf and audio)
- Guide to monthly savings strategies (PDF and audio)
- Guide to investment mechanisms Low Cost (Pdf and audio)
- Folder of extras with models, templates, contracts, tutorials ...
60% discount coupon for readers of my blog
Speaking with Agustín, he has offered me a special discount of 60% for the readers of my blog.
The price of the course is € 89, but by entering the discount coupon " andres " you will get it for € 35 !!! A really affordable price for anyone.
If you really want to learn about how to generate residual income, this course is for you .
