The Importance of Residual Income
By Romel Wallace |
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.
About the Author
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.
Copyright 2005 Romel Wallace
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