How to Create Multiple Sources of Residual Income

Creating multiple streams of residual income, day and night, twenty four seven, waking up each morning only to find a few hundred dollars more ready to be credited to your bank account, certainly can fuel your imagination, the thought that this was possible drove me on for years, eventually with positive results. This won’t happen overnight, it takes a lot of hard work and dedication to create multiple streams of residual income.

Don’t though rely on only one source of residual income, get one up and running and producing a predictable stream as quickly as possible, then move on to the next source of potential income and so on, as soon as you can, diversify. Once you’ve several streams running successfully then you can go back and work at maximising each one. Trust me on this I made this mistake… Never again!

Here are some ideas that you can use to produce potential sources of income, give them a try. Maybe you’ve been researching the art and science of generating leads for your on-line business and you’ve been article marketing consistently for several months now and you’ve generated a wide area of expertise in the lead generation field. You may find that you’ve enough material to piece together your own ebook, package this as a pdf and sell this material on, maybe use this a funded proposal to help you monetize the list building process.

Going back to these articles you’ve produced, maybe you could edit them down to more manageable bite sized chunks of information for your blog, say three to four hundred words. You can then post regular themed series of posts with Adsense added to help create a further revenue stream, as you build traffic to your blog, your revenue from Adsense will grow and you’ll find it a predictable source or residual income.

Now this is something I’ve never tried but if you find that your article writing is becoming a production line and you enjoy writing articles based on your industry, then why not sell PLR, Private Label Rights to these articles, maybe you could bill monthly for a fixed number of articles, it won’t be long before you’re generating quite a significant residual income from a handful of clients subscriptions.

All viable and easily implemented ways of generating multiple streams of income on-line, as your knowledge and experience in your chosen market increases so does the value of the information you possess.

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