One of the dumbest things I ever did was work for someone else as a process engineer. I achieved an annual saving of one million dollars for them. The next year they decided they no longer needed me. From what I gather, they are still harvesting residual income from my ideas. In other words, they are still scoring after I left the job. Residual income is how industry works. After an oil company has paid for the drill and installed the pumping equipment, it keeps on making money less expenses. Food franchises works similarly. After the franchisee has recovered the capital, they have a license to make money until the next upgrade. Return business is the key to a successful company. Commerce does not want single sales. It wants repeat income. The oil industry will continue to boom until we all drive electric cars. We will keep going back to our favourite takeaway because Friday night would not be the same without fish and chips and telly. Not everybody has the bucks to start their own brick and mortar business with four walls and a roof. That is why so many people are working in paid jobs they find unrewarding and boring. They are unable to understand they live in a world of opportunities. A world of opportunities we want to introduce you to here.
Method One: Direct Selling What you do is find yourself a niche market that has repeating needs that you can fulfil by supplying a product. Your main effort is marketing the item to them. You earn residual income every time they order, by passing the requirement to your supplier who makes the delivery. This method works well with lifestyle consumables like supplements and cosmetics. Once you have the system running, all you might need is a smart phone and a few hours a week. Method Two: Internet Selling In my experience, there are two types of customers. People who like human interaction and those who prefer to sit inside their computer. Global preferences are shifting towards internet trading. Show me a high street shop that does not have an internet store, and I will show you a dinosaur living out its last days. You can sell anything to anyone, anywhere in the world that ‘white van man’ can deliver, and it is getting easier every day.
Now we have a reasonable handle on residual income, let us talk about selling repeat services too. Millions of people around the world earn residual income from insurance policies they sold years ago, and the longer people have them, the more they hang on to them. You can do this with anything from roadside assistance to software as a service. Just choose something you understand so you can provide advice and earn trust.
You do not need those big bucks we mentioned earlier to start making residual income. You do not need a brick and mortar space either. All you need a business vehicle that allows you to earn residual income, with proven strategies that actually work. Secure your freedom with residual income even along side your current job.
You may just replace your income and never look back.