The Importance of Residual Income
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
Romel Wallace, Jr. is the founder of http://www.makeachange.com - "Make A Change by Associating with Programs that Really Work". Subscribe to Make A Change Success Tips (MAC) at subscribe@makeachange.com to find out how. You may freely distribute this article if left intact including this notice.
 Google News Updated : Sat, 11 Oct 2008 23:50:53 GMT World is united to tackle financial crisis, IMF says - MarketWatch
MarketWatch - By Rex Nutting WASHINGTON (MarketWatch) -- Financial policymakers from 180 nations around the world are united in their resolve to tackle the financial crisis, Youssef Boutros-Ghali, head of the International Monetary Fund's policy committee, ... G7 nations face going cap in hand to China Finance officials comments at IMF meetings Publ.Date : Sat, 11 Oct 2008 21:23:46 GMT Nobel Peace Prize winner wants jobs for the young - International Herald Tribune
International Herald Tribune - AP HELSINKI, Finland: Nobel Peace Prize winner Martti Ahtisaari said Saturday that finding jobs for more than 1 billion young people in the Middle East and Asia will be a major challenge to peacebuilding in the next decade. Video: Ex-Finland President Wins Nobel Peace Prize Nobel Finn Publ.Date : Sat, 11 Oct 2008 13:12:07 GMT Gay Marriage Is Ruled Legal in Connecticut - New York Times
New York Times - In Hartford, Crystal Pretzman of Willimantic, Conn., celebrated the State Supreme Court's decision to legalize same-sex marriage. Video: Connecticut Court Allows Gay Marriage Marriage ruling not the end of debate in Conn. Publ.Date : Sat, 11 Oct 2008 18:13:08 GMT GOP Officials Hope for Stability From McCain - New York Times
New York Times - By ADAM NAGOURNEY and ELISABETH BUMILLER Republican leaders across the country said Saturday that they were worried that Senator John McCain was heading for defeat unless he brought stability to his presidential candidacy and settled on a clear message ... Antiwar Protestor Disrupts McCain Iowa Rally Obama needs 75 percent turnout in Philadelphia, says Rendell Publ.Date : Sat, 11 Oct 2008 22:23:47 GMT US space tourist set for blast-off - Reuters
Reuters - By Maria Golovnina BAIKONUR, Kazakhstan (Reuters) - US video game magnate Richard Garriott will blast off into space aboard a Russian spaceship on Sunday watched by his father, a NASA astronaut who went into space at the height of the Cold War. US space tourist set for launch Russian space chief reassures US partners Publ.Date : Sat, 11 Oct 2008 23:10:50 GMT YouTube to play full TV episodes with ads - Afterdawn.com
Afterdawn.com - Google has announced that it will begin offering full-length TV episodes through its YouTube platform beginning this week, thanks to a content deal with CBS. YouTube to Offer TV Shows With Ads Strewn Through YouTube beams up Star Trek for long-form video, prominent new ads Publ.Date : Sat, 11 Oct 2008 21:13:12 GMT Got $700 Billion? Sweat the Details - New York Times
New York Times - The bailout plan gives Henry M. Paulson Jr., the Treasury secretary, three broad choices in buying assets. By ALAN S. BLINDER THE House of Representatives was against the bailout bill before it was for it. US firms up plan to buy into banks to stem crisis Paulson Indicates Need to Purchase Bank Equity `Soon as We Can' Publ.Date : Sat, 11 Oct 2008 20:39:07 GMT Increase Web Traffic |
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