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Affiliate Programs Can Be Very Beneficial To Internet
An affiliate program is, simply defined, a sales job in which you earn a commission. You will be an independent representative of a company, offering their services and products to prospective customers. When one of the customers makes a purchase,...
Arrgh. . .Those Stupid Internet Marketing Cliches Are True!
If you have read any internet marketing resource ever created, you have no doubt seen simple, one sentence, pot-shot solutions to all of your problems: You will only be successful if you think you are successful. You will make money if...
EMPATHY, not “Internet Traffic” – key to home based business success?
Having EMPATHY, as we define it, could be your secret to your home based business success. You were either born with it or you were not. If you were born with it, you will never loose it. If you were not born with it, you can become more empathetic,...
Getting A Solid Internet Marketing Foundation
As we look at building our online businesses, many of us acknowledge, early-on, that we don't know it all. Those who don't, are almost certain to fail because they often attempt to apply techniques that simply don't work online - to...
Internet Marketing with Google: Post Jagger Methods
Well, the dust seems to have settled after the Google Jagger
update and enough experts are checking in with the same
information that I feel comfortable writing about how to work
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First, let me complain a bit;
Google...
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Residual Income: The Secret to Long-Term Internet Income
The Secret to Long-Term Internet Income
© 2005 Jeremy M. Hoover // http://hoovermarketing.info
Perhaps the best product is one that has recurring monthly fees. This is known as residual income, and is the best income to make, because you make one sale but are paid month after month.
Would you rather make one sale for a one-time $65, or one sale for a monthly subscription at $10 per month? I would rather have the monthly subscription, because after the seventh month I will have made more than the $65 from the first sale, and the money will keep coming! It is possible that you can still be making money three years down the road from one sale.
Here is another example to show you the power of residual income: You work everyday for a company. Your paycheck is dependent upon your working. If you don't work on a given day and you are paid hourly, you will not be paid for that day. If your job is to make widgets on an assembly line, you must make those widgets to get paid.
But what if you were the one who patented the widget? Then you would receive income over and over again any time someone made or bought one of your widgets. You don’t have to make the widget anymore, but you get paid every time someone buys a widget! This is residual income: it is income that you make over and over again from working one time. There are many great affiliate programs that you can market that can bring you residual income. You can also start your own subscription or membership website.
A related concept to residual income is leveraged income. Leveraged income is similar in that it can be residual. More importantly, leveraged income is money that you make from other people's efforts!
To use the same widgets example, if you make widgets on an assembly line for your job, you have to do that to get paid. But if you were the one who patented the widget or the technology to make the widget, you would continually receive income every time someone made or bought one of your widgets.
As this
related to leveraged income, imagine that in addition to you working on the assembly line, you could train others to do the same work and make a percentage of each person’s income that you trained?
For example, you work the assembly line and earn $1000 each month. What if you could earn 10% of the income for each person you trained to do the same assembly-line work? You would do the work (training) one time and be paid over and over again (residual income that is leveraged via other people's work).
Suppose you trained ten new people each month, for three months. Your monthly income would begin to look like this:
1st month: You make $1000 and each of the ten people you train earn $1000. In addition, you earn 10% of their monthly income (10% of $1000 = $100 x 10 people = $1000 + your $1000 = $2000 total).
2nd month: You still make your $1000, but now you have 20 people who each make $1000. Your income is thus: 10% of $1000 = $100 x 20 people = $2000 + your $1000 = $3000 total).
3rd month: You still make your $1000, but now you have 30 people who each make $1000. Your income is thus: 10% of $1000 = $100 x 30 people = $3000 + your $1000 = $4000 total).
But wait! In your third month, 10 of the thirty that you trained each trained 5 more people. Another part of your business agreement said that you would receive 5% of the income of anyone that was trained by someone you trained. So, you have 50 more people each earning $1000, and you earn 5% of that --> 5% of $1000 = $50 x 50 people = $2500 + your month 3 total of $4000 = $6500 total in month 3!
This is the beauty of leveraged and residual income! By your one act of training someone to do the work, you will get paid over and over again from their efforts, and again if they train someone else to do the work!
About the Author
Jeremy M. Hoover makes residual income from his site, http://hoovermarketing.info/leads.htm . Get a free affiliate marketing course at http://hoovermarketing.info/amg/introduction.htm .
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