- State: New York
- Country: United States
- Listed: January 7, 2018 2:55 am
- Expires: 345 days, 2 hours
What is a Residual Income Opportunity?
First of all, we should clarify that the residual type of income is when you continue to get paid for a sale or referral long after you have made it. Residual income is also known as passive income or recurring income. Book authors usually get this kind of income when more copies of their book are sold or a singer and songwriter when more copies of an album containing their work gets sold. In those cases the residual income is called royalties.
So if you can imagine that any money that a business or program earns, a portion (or residual) is given to the person who originally sold or referred the product or service. A lot of times this person is called an affiliate or independent business associate. Residual Income Opportunities are everywhere and can provide a lucrative income. Be careful as you search for a residual income opportunities because you want a business that has a proven track record and is producing results.
Here are a few things to look for in a residual income opportunity:
When looking for residual income opportunities you need to look for a business or person that is transparent and lets you see what they are doing and how they do it.
Support and Training
Any legitimate residual income opportunities will provide great support and training to help you get started. If the business you find just sells you something and then leaves you to yourself that should be an immediate red flag. Successful residual income opportunities should have a mentor who teaches and provides ongoing training to help you attain your goals. Lets us realize that any legitimate residual income opportunities will take work and time to build. Anyone promising a quick buck or fast money with no work on your part should raise a red flag in your mind.
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Independent Business Opportunity
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