Best Money Making Ideas

Do you fully understand the business ideas and concept behind residual income? It is really quite a smart and yet simple business model: “Do something once then get paid many times over again, for that clever initial action!” It could be the action of referring someone into an online business, like a nutritional MLM, for example.

Just as a singer/songwriter like Michael Jackson or Sir Paul McCartney, writes a song once then gets paid a neverending stream of royalty income - or like the writer of the Harry Potter series - writes an irresistible novel then gets paid over and over again as thousands or millions of copies fly off the downtown book shop shelves!

That is all variations of residual income. Or passive, automatic, monthly or annually recurring income. It’s a rather exciting prospect isn’t it? Many authors, playwrights and songwriters enjoy this recurring residual, royalty income! You can too, as a home based business entrepreneur, working with a telephone and the Internet from your home office. This is what I’ve done since 1997.

Certainly, there are many types of home based work online and internet businesses that use the residual income model. For example, nutritional MLM or multi level marketing businesses that typically sell supplemental nutritional products, women’s cosmetics and household goods, like home cleaners, etc., all use the Residual Income Model. It first appeared in about 1950 and has made millions of dollars for business owners and top sales performers. It is also known as referral marketing.

They are a type of referral marketing where you refer someone once to a global home based business compensation matrix or structure then you get paid monthly recurring income at a certain percentage while they remain a paying customer of the company. The simple, compressed matrix works best. Not a complicated binary structure. It looks good in theory but does require a lot of supportive work behind the scenes to make sure your referred downline of customers does not collapse or disappear! They will need your constant attention and coaching support, believe me.. Most people seem to work best with frequent leader’s help and reinforcement. You can even devise a system of rewards and incentives, like the large multi-level marketing companies always do. They offer holidays away to Hawaii, for instance, and frequent conferences with hotel accomodation.

Other very smart Internet marketers with online Small Business Ideas create their own passive income systems. I recently joined one such online business called “Passive Profit ROBOT”, created by Jeff Alderson of Florida, USA. I am extremely impressed with this system. It has genius-like simplicity because all I have to do is pass on a free marketing report, by referring people to my unique referrer web URL. That’s all I need to do! It is a very simple system where you refer people using The Internet, then you get paid regularly as they purchase marketing software and business information products through the Paypal and Clickbank merchant systems. Joining these merchant payment systems as an affiliate is a breeze too!

Geoff Dodd
Web Consultant
Mandurah, Australia

This entry was posted on Thursday, October 2nd, 2008 at 1:51 pm and is filed under Home Business. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.