Residual Income Ideas

These affiliate programs are easy-to-join, easy-to-recommend, and will put dollars in your bank account month after month. When you refer a customer, you get money for as long as the customer subscribes. Since these programs are top-notch, the money just keeps on coming! List updated January 8, 2012

• Only two programs today -- Squidoo didn't like the new one I was going to add and the old one I had listed has changed its commissions.



• Squidoo -- Yes, Squidoo, the site you are on right now can be a source of income. With easy-to-use tools, it's fairly quick to put a webpage together (called a lens) on any topic that suits your fancy. You earn money from Squidoo just for having visitors, but you can also sell related products on Amazon, Zazzle, Ebay and earn commissions.
  
  In terms of my own experience, each lens that I've created in Squidoo earns (on average) about $2 a month. Some more, some less. While this isn't a lot, the earning keeps on coming every month. I currently have about 25 lenses.. More importantly though than the money I earn from Squidoo is that these pages get good traffic and I can use them to direct people to another business that I own.
  
  I also enjoy creating Squidoo lenses. So if I can spend an hour one day and put something together and come back and fiddle with it adding some nice pictures or a new video and earn a few dollars a month (and actually the amount keeps growing as Squidoo's traffic continues to climb), well I'm in!



• Finally SiteSell - SiteSell offers EVERYTHING you need for starting and building a small business online. Look at SiteSell's video tour to see and hear for yourself. SiteSell's affiliate program offers you lifetime commissions for every customer you refer. Most webhosting affiliate programs give you a nice commission when a customer signs up for their services, but SiteSell's affiliate program records you as the referrer when the customer makes their first purchase and you get not only the commission for their first purchase but for every purchase (including RENEWING their account) that they ever make. Imagine that! SiteSell is geared to help folks start making money online regardless of their computer or web experience. Lots of video tutorials and success stories build great customer loyalty.

Based on the concept that it's just as easy to sell a residual-income product, as it is to sell a single-income product, membership sites have become quite lucrative. With a membership site, people purchase a subscription to the website or newsletter. Typically each month's cost is fairly low, which makes it easy to get people to try it out. If you own a good membership site, you can continue to grow the membership. An example of a popular membership website is, The Niche Blogger - which itself is another source of ideas on creating residual income.

If you are interested in setting up a membership site, I recommend The Residual Income Formula - it's a pretty complete package for creating a successful membership website. It includes the software to run a membership site, marketing ideas, and several case studies of people earning big bucks through membership sites

Does the idea of residual income sound too good to be true to you? When you hear someone say that you could "get paid while you sleep", do you say, "yeah, right Buddy!" Or do you think, "Money doesn't grow on trees!"

Here's the reality of residual income. Residual income isn't a matter of getting paid to do nothing. Your computer won't suddenly start producing money every time you start it up. You do have to do work. Whether you are writing an article that creates a sale, or setting up a website to sell products, there is real work that has to be done. But the beauty of residual income, is that once that initial work is done, it generates income for you far into the future with little or no additional effort on your part.

To continue with a tree analogy - when you plant a new tree in your yard, you have to purchase the tree, dig the hole, maybe improve the soil. Then for some number of days or weeks, you have to water the tree until it takes root. But once that tree takes root and grows strong and healthy, it will continue to flourish generally with little care from you.

My own experience trying to build residual income is that it's taking me a while. I have to:
- create a product or find one that I want to promote
- put together information on the topic and get it online
- communicate what the product I'm promoting offers to the audience
- get some traffic to my online information

Repeat....

It's a bit like baiting a hook and fishing, I guess. I say I guess because I never wanted to fish. Too slow-paced and often I find creating online income to be painfully slow-paced also. I've had times that I've put up a sales page, had no sales and thought, "Well that was a dud! and a giant waste of time!" Then months later I see a sale. In one case, a single sale made it worth the time that I had invested.

But, I also have experienced the occasional "home run" (well a home run if I was playing on a Little League field). An article I wrote or Squidoo lens I created that just flies off the bat, bringing money in regularly.

Just yesterday I totaled up my online income for the last month. About $350, minus the approximately $110 I've spent on outsourcing various promotion tasks (backlinks, shopping cart setup, etc).

So, I've finally cleared well over $200 this last month. Now, whether you consider that nothing, or whether you are thinking, "Gosh, I'd like to earn that much," the most important idea is that this residual income is something I can build on. If I do nothing more, I'm likely to clear $200 next month -- perhaps more if I don't spend on promotional outsourcing tasks. And meanwhile I can invest time in creating additional sources of residual income. So no matter where you are right now, in your search for residual income, keep acting on your ideas and you too can be earning money even when you are not working.

There are a lot of folks who can give you pointers on creating a passive residual income stream. Here are a couple resources to help you get the right mindset to earn a lot of residual income (an essential first step):

- info on rich people and pointers on becoming one

- a FREE report, Your Daily Success Plan

Good luck and stop back and let me know how your quest for residual income is coming!

Updated Feb 6th 2012

I got the following note from Dennis Becker today:

I haven't been this excited about a product since I announced
5 Bucks a Day Revisited, which sold over 4000 copies so far,
and still selling.

I'm talking about the Kindle Case Study.

There's a huge void in the market. Not for courses to show how
to publish on Amazon...

... but courses on how to publish quality books on Amazon, and
to turn them not into a small income stream, but a huge one.

I'm planning on doing that, from scratch, and let 100's or
1000's of people follow along live, as I do it.


Dennis went on to talk about how there are a huge number of folks who have advocated writing many Kindle books with the idea that if each one averages earning you a dollar or two a day, that this is pretty respectable income once you have 100 books. The idea of churning out a hundred of anything, cookie cutter fashion has never appealed to me. As a writer, I know how much work and revision is necessary to produce a quality product and I resented people trying to milk the Amazon system to make a buck whether their books were any good or not.

But Dennis claims he is going to produce a good-quality book, document getting it on Amazon and promoting it to where it generates a decent income that continues to arrive into his bank account month after month. And he's going to do it DURING the course, sort of reality-tv style, so we can see how he makes out. A little suspense always adds some interest, no?

If you want more details, go to Kindle case study AND, I don't know how long it will last, but try entering coupon code of kindlevip and click on validate before you make payment, in order to receive the best current price. Click now for Kindle case study