Today, I thought I would quickly talk with you about what some people call passive income, though is more accurately referred to as residual income. It’s something I am working on with almost all of my clients right now. It’s easy to see why. The idea is that you create something once, then earn from it over and over again, without much additional input. It scales wonderfully, costs little to set up and can earn you a fortune, if done correctly.
Residual income streams
For example, with some clients, I am helping them develop digital products, such as ebooks and audio programs. I help them develop the product and then market it correctly. Then, once the product is created, people can buy it over and over again. There’s no additional work required on my client’s part, when they sell 10,000 products, than when they sell just 1. Once they get that first successful income stream flowing, it’s a matter of repeating the process.
With the right guidance, it’s possible to generate a number of superb income streams. I currently have 18 residual income streams myself and am in the process of developing number 19. What I love about this process is that you can not only create a significant additional income, but because you are not tied to it with your time, it can significantly improve your lifestyle too. When you get the balance right, you can make as much money when you are on the beach or asleep as you make when you are in the office.
Of course, the key challenge most people have when setting up residual income streams is that they don’t know how to develop or market the products correctly; which is where I come in.
I show them how to develop products that their marketplace will want, and then how to make them irresistible. I then show them how to repeat the process, so they have a number of streams – It’s genuinely exciting! You know what? It’s one of the things I love most about the work I do with my clients, as the potential is enormous in so many ways.
I very strongly recommend you look into setting up some residual income streams yourself. If you would like me to help you, let me know.
Let’s work together and grow your business. To find out more click here!