In the search for your ideal business idea, you could choose one that aligns with your vocation and passions in the list that I shall outline below. Residual income can be created both online and offline. The nature of online income generating ideas is that thy saturate over time. This is not to scare anyone away, but to encourage you to take action as soon as time can allow. See the article ‘10 Reasons why You Should Start on Your Online Business Today!’

 

I’m for the idea that all products and services that are offered offline can also be offered online, and the reverse is true. I therefore will mention and give small details per idea and it remains to your decision as to whether it would do well for you on or offline. I will however recommend the ideal and tested method.

 

  1. Referral services – In online terms this is referred to as affiliate marketing. All you do is set up your website, newsletter, email notices or e-zine to pre-sell the service to the prospect and the rest is history. That particular webpage will keep selling your affiliate product even while you sleep.
  2. Online Multi-Level Marketing (MLM) – This is slightly different from referral services in that your target is not necessarily to influence the person to buy, but to join you in the recommendation process. So, if I recommend company A for a certain service they do, I therefore recommend that you influence someone to recommend the service further. In literal terms, this is forming your own down lines. Unlike with many MLM where you get a reward after bringing in a certain number of down lines, online you get paid for each and every successful conversion.
  3. Offline Multi Level Marketing - You better make sure that it is not a blessed pyramid scheme hiding in a useless product. I saw it with QuestNet and regret it even today. If you are interested to know more about my experience with a failing MLM, go to the article ‘My life with QuestNet – Part 1 & 2′. This normally goes with specialized training and involves the process of training the trainer. All this means is that you are certainly are the only source of the product/service or all those that buy use your account name. You therefore get a reward each time there is a sale under your account. Tricky? Yes, do your won research ‘Find Out’.
  4. Selling Digital Photos – I have personally tried this idea with ‘Fotolia.com’ and it has worked for me. There are several others out there, do your search to find out. All you do is make your collection of photos that meet specific requirements and submit them for approval. If they are approved, your photos then get listed for sale in their website.
  5. Property - Although this is a capital project, but it does fall under residual income. The amount you make will depend on the location of the property. Remember, I’m not talking about developed property only, but an open space can be leased out for grazing animals, display, car wash or storing some good. Urban developed property makes more than suburbs and semi-rural areas.  
  6. Fruit trees - My father is a farmer and he bough his farm with fruit trees. These trees make him more than $ 2, 500 dollars a year. The other advantage is that these trees are of different species and they bare their fruits in different seasons. It is customary in our society to grow just a few fruit trees within a yard, but growing trees can be a lucrative residual income project.
  7. Complete Music Albums – Albums sell much better offline than online. I know that this will vary from country to country. In some countries, internet sales are more than traditional retail shop sales. This works best if you are the artist and probably own the rights to duplicate the albums.
  8. Audio tracks – The internet has made is so easy to buy only a track from an album of your choice. You just have to pay for that one track that you like. If you provide this kind of service, you will leverage on the digital delivery strength and sell all over the world.
  9. Growing fish – Fish multiply in thousands and they don’t need your food but feast on earth worms and other organic stuff. Your initial investment digging a big enough dam and put the fish in.  
  10. Publishing - I’m an author who wrote and published a book in December 2004. Guess what? Even today I’m selling those books and making my profits. Even though it normally takes a long time to start realizing profits, but publishing is a very good residual income generator.

 

Remember, our aim to make you become who you’ve always wanted to be, if any of these are not along your plans, don’t feel pressured but keep coming for more. The search never ends not until you’re no more with the living.

 

There you are, you have all that it takes. Consult the relevant authorities and expert for each of these and you’ll make it.

 

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