By Derick Yung
Why would you want to earn extra residual income online? Residual income allows you to leverage your time. The idea is that you put in an initial time and effort which will earn you extra residual income. You get paid multiple times for something which you do once.
1. One way to earn extra residual income is to join affiliate programs that pay you recurring commissions. For example, there are many membership sites online with residual income compensation structures. Website hosting companies usually have a referral program that pays you regularly. When you refer someone to this type of affiliate program, you will earn income as long as they stay active in that program. The key is that you have to advertise your affiliate program to a targeted audience.
2. Multiple tier affiliate programs can also help you create more residual income. To succeed with multiple tier affiliate programs, you have to recruit affiliates who are actively recruiting. These active affiliates will build your downline and enable you to earn extra income by leveraging the efforts of others. To find active affiliates, you can use an online system that acts like a funnel and initially sorts prospects for you.
3. Online investing is another way to earn more residual income. Of course, it is not a guaranteed way to make more money but it take advantage of the power of time. First you will have to join an online brokerage. These brokerages let you manage your own investments online and are cheaper than traditional brokerage firms. Before you start investing online, make sure you have some system in place to determine how you will buy and sell your investments. If you do not have a system, then emotion will likely take over. It will probably cause you to actually decrease your income instead of earning more.
4. Start your own membership site. Take a look at your hobbies and interests. Take an inventory of what you are passionate and knowledgeable about. If you think you do not have any knowledge or services to share, remember that everyone has knowledge that others would like. The good thing about a membership site is that if it provides value, people will continue to subscribe and earn you residual income. If you continue to improve your site all the time, your residual income will grow.
5. If you think that starting a membership site is too much work, then consider joining a proven residual income generating system. A big advantage with an income system is that it can be duplicated. Duplication can increase your residual income because your referrals will have the same income system you have. They will be able to figure out what to do to start earning income because they have a system like you do.
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