Home Based Business Residual Income Ideas by Gianfranco Focarelli
Residual Income is income earned on an ongoing basis for effort done once in the past. It is also known as Passive Income and when it comes to your home based effort the idea is to get paid over and over for doing the work one time.
In this article let's look at 3 home based business residual income tips to help you choose the right products and programs to represent.
You are better off to choose residual income programs that pay you on the efforts of others. This means that you will have to recruit salespeople to do selling for you. The obvious benefit to this is duplicating yourself and multiplying your efforts without spending more of your personal time
If you recruit a salesperson who can spend 40 hours a week selling and you can spend 40 hours a week selling, ou now have 80 hours a week being spent building a residual income. What if you had 10 people who could spend 40 hours a week? You now have over 400 hours a week being spent creating residual income for yourself.
One way that this has worked out over the years is in the network marketing industry. Network marketing creates residual income for you when you build a downline of distributors who are buying and selling products. With every product that is sold you earn a commission.
Another excellent way to create residual income is 2 tier affiliate marketing programs. Although you will not be able to create depth in a downline distributorship like multi level marketing, you will be able to enroll front line affiliates and get paid on all of their efforts when you are in a two tier affiliate marketing program.
History has shown that strong affiliate marketers can be excellent people to recruit because they are very sales oriented. Many network marketing people are average ordinary people who join a business opportunity with the idea that they can get rich.
Unfortunately most people who join a network marketing business will never sponsor anybody personally. Therefore, you are never able to generate a large downline of people like this. However, if you play the numbers eventually you will find enough frontline network marketing distributors that will go on and build a group of their own.
However you choose to do it the best home based business residual income tip we can offer you is to spend your time recruiting. One way to create residual income and duplicate yourself without spending more time doing it is to get paid on the work of other people.