Monday, November 10, 2008

Three Ways to Use the Internet to Earn Residual Income

Three Ways to Use the Internet to Earn Residual Income
Copyright © Dominic Boykin
http://www.StayHomeBusiness.org

Urban legend is rife with tales of people becoming millionaires overnight by launching Internet ventures. Legend, of course, is almost always a convoluted mix of truth and lore. However, entrepreneurs with realistic expectations and tenacity may be able to earn residual income using the Internet.

Residual income can be defined in two ways. Economists refer to residual income as money that is leftover after paying one's monthly bills. It's often referred to in a household budget as "mad money" or "extra money."

It may also be defined as money that is earned on a continual basis with little time invested. A person who earns residual income this way expends effort at the beginning of the venture. Money begins to trickle (or roll) in as the business begins to get off the ground. Eventually income will continue to flow with little or no ongoing effort to generate it.

An example of this type of residual income is an actor who works on a commercial. The actor's contract may state that every time his commercial is played he receives payment. The actor may spend 10 hours working on the set. However, he may keep receiving payments for months or even years after filming the commercial. Every time his commercial airs, even decades later, he earns residual income for it.

Most people who earn residual income through Internet ventures do not become millionaires. Some have, and it's possible to do so with an ingenious idea and good business sense. It is possible though to make a significant amount of money this way.

Starting a full-fledged Internet business can be complicated. The average person may want to stay away from this. But even the average citizen can earn residual income using one or more of the following means:

1. Internet auctions. Sites such as eBay have brought garage sales to a whole new level. Average people who initially turn to Internet auctions simply to lighten their attic loads become hooked on the earning potential. Anyone with an eye for a bargain or the unusual may find success with an Internet auction business.

2. Affiliate marketing. Affiliate marketing is a broad term. It usually refers to receiving payment for driving website traffic from one's own website to someone else's. You provide a link (in the form of an ad or button) from your site to another. That website pays you a commission for each customer that clicks the link. The more affiliates you have, the more you can make.

3. Blogging. This one takes a bit of practice and a rudimentary handle on basic grammar and spelling. Start a blog devoted to a particular niche or subject. Familiarize yourself with how to use keywords effectively to garner quality search engine rankings. A bit of work is required to keep your blog fresh and updated. However, you need don't need to do this daily. You may be able to get good rankings with as few as three to six updates per month. Next, sign up to host pay-per-click advertisers (i.e., Google AdSense.) Ads will be targeted to the subject of your blog (keywords). You get paid whenever a visitor clicks on the ads.

These ideas can help you earn residual income and give you experience making money on the Internet. You can expand your virtual empire as you learn more and hone your expertise. You'll enjoy the extra cash and may even eventually amass those elusive millions after all.

About the Author:

Dominic Boykin is an Internet marketer and entrepreneur who operates a successful work from home based business on the Internet. Sign up for his free work from home based business newsletter and receive 6 free money making home business related e-books. Click here to learn more about how to earn residual income.

Labels: affiliate marketing, earn residual income, Internet business, making money on the Internet, residual income

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Feature Article: Make the Leap to Work from Home Based Business Success
Copyright © Stone Evans, The Home Biz Guy
http://www.PlugInProfitSite.com/main-21490

Before you can have a successful home based business, you must first possess 3 "intangibles." These are things that must come from WITHIN you.

 ===> Intangible 1 <===

First, you must have a strong WHY.

Why MUST you have a successful Work from Home Based Business? What is driving you? What is it that you CAN'T have in your life anymore and/or what is it that you absolutely MUST HAVE now?

For me, I couldn't stand working 12+ hours a day anymore and missing the experience of my children growing up. I also absolutely HAD TO HAVE the freedom of being able to control my life and finances through a little box (laptop computer) that I could carry with me anywhere in the world and not be tied to anyone's time pressures or demands but my own. That was my carrot and my stick. I felt a great pain deep in my gut of missing out on my children's lives and the incredible freedom that succeeding in a home based business would provide for me. I found my why. You MUST find yours.

===> Intangible 2 <===

You must BELIEVE that it is possible.

If you don't believe that it's POSSIBLE for you to have a successful home based business or make your living from home, you won't. It's that simple.

For me, figuring out that it was possible was just a matter of realizing that many other people were ALREADY making great money working from home. If they could do it, I could too. It would just be a matter of figuring out what those people were doing and then adapting it to my situation.

There is no shortage of undeniable PROOF that people (millions of them) are making money working from home. Just get online and do some research and you'll find countless testimonials and stories of REAL PEOPLE making real money on the Internet. Or head to your local bookstore and you'll find the same documented evidence of this fact. Truth is, it's getting easier and easier to make money with your own home based business.

I've always said that "affiliate marketing" (a simple way to make money from home) is the job of the future. In the "old" days, you had to go to a potential employer, apply for the position and hope for the best. Now you can simply go to any company you want, fill out their affiliate application and start work immediately. Affiliates are the new working class. In fact, making money with affiliate programs or making your living on the Internet is WAY MORE than possible. It is pretty much (or will be soon enough) unavoidable now. Affiliate marketing is the "job" of the future that's already here TODAY.

===> Intangible 3 <===

You must be willing to MAKE THE LEAP.

Ready, FIRE, then aim... This is the operating philosophy you MUST adopt to succeed with a home based business.

That's backwards for most people who like to aim before they fire. The fact is that home based business success is a moving target... The only thing constant about it is change. You need to stop analyzing the game and simply jump into it. You can't learn from the outside... You have to be IN THE RING to truly understand it.

The lesson here is that you will never really be READY to start a home based business. You simply have to start one. It's like having children... You're never really ready, but when it happens you adapt and grow. This is what I call "Making the Leap."

The good news is that the cost of failure with having your own home based business is very small. In the "brick and mortar" world you need to evaluate things very carefully before you decide to open up a business. It's almost always necessary to invest thousands of dollars to get an offline business off the ground. However, on the Internet you can often start a successful business for less than $100. The Plug-In Profit Site is a great example of this: http://www.PlugInProfitSite.com/main-21490

You simply need to get IN THE GAME... Each moment that you stay "out there," you're wasting valuable time that you could be learning and skills necessary to build a successful home based business. In fact, if you're not in the game yet, you're ALREADY behind the times. Make the leap to creating a successful home based business today!

About the Author:

Stone Evans, The Home Biz Guy has helped thousands of people in over 200 countries around the world start and run a successful home business. Discover 3 easy steps to start your own Work from Home Based Business and subscribe to The Home Biz Guy's FREE Home Business Secrets Mini-Course at: http://www.PlugInProfitSite.com/main-21490

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