Ideally, your business plan should provide you with several diversified sources of income. If one source of income slows or stops altogether, the others will continue to work for you. One source of income that your business should include is called residual income. It is a recurring income that is based on work that you have done in the past and is not dependant on the work you do today.
Multi-level-marketing (mlm) is a good example of residual income. It works as follows: As an associate of xyz company, your job is to generate sales the company's products and to recruit new members into their program. You are paid each time you sell one of the company's products. In addition, you are paid a small percentage of the profits each time someone you have recruited makes a sale.
This type of program can be extremely profitable if you recruit large numbers of people into the program under you. For example, assume that you participate in a program that pays you 10% of the profits for those you recruit. If you bring in just one or two people you will not make much money. However, by recruiting 150 people into this program, you can develop an extremely good residual income. In this situation, it is like I have 15 people working for you and giving you all of their profits!
Selling some sort of recurring subscription service is also a good source of residual income. A subscription service is one that the customer pays a monthly fee on an ongoing basis. This provides you with steady dependable monthly profits. An example of this is when someone signs up for an annual subscription to a web hosting or autoresponder service.
There are thousands of these income opportunities available online. You can find them by doing a search for 'residual income programs.' And remember, these programs work best when you recruit lots of people into the program under you. By spending some time recruiting others today, you can develop an ongoing income that can last for years to come.
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