Residual Income Formula
Do you want to learn about a Residual Income Formula that works?
First you have to understand what residual income is to get the bigger picture of the residual income formula. Out of the mouth of Wikipedia, the free encyclopedia…
“Passive income (residual income) is an income received on a regular basis, with little effort required to maintain it.” But here’s the key…you have to build it first in order to maintain it. Reminds me of the movie Field of Dreams..”If you build it, he will come.”
What if it took you 6 months or 18 months to build your residual income? What would it mean to you and your family if you started each month off with an extra $500… $5,000… or $10,000 in your bank account?
5 step solution to build your residual income formula:
1. Find a product you want to market. Affiliate marketing is big business. Always promote high-quality products that you personally find interesting and would purchase.
2. Determine who would be your target market for the product or products you want to promote.
3. Research exactly what they are thinking (get in their mind) when they are searching on google, yahoo or any of the search engines. That’s a little challenging but there are tools for this type of market research.
4. Create content through blogging, videos, and articles specifically for that product and keyword driving them to purchase directly from you.
5. Promote the content so it can be found easily and use other tools for backlinking and connecting your pieces of content. Search engines often use the “number of backlinks that a website has as one of the most important factors for determining that website’s search engine ranking, popularity and importance”. In essence, it’s kinda like a vote for that website. Gives it a little more authority in Google’s eyes.
Still not sure where to start with your residual income formula?
You can use a system that sets it up for you. GLM, is the internet’s premier personal and professional development company for the home business entrepreneur. Here’s a snapshot of products ready to be rolled out for you to promote.
glm – Affiliates earn 30% commission when they refer a paid member to the Global Leadership Max monthly membership community. Let’s say hypothetically, you have 12 members you referred in a year. (that’s 1 a month) = $30@12= $360. And if you are an elite member, referrals are paid at a higher level $90@12=$1080. This is monthly income.
aweber – every business requires an autoresponder to keep in contact with your customers, clients, potential partners. $6 a month @ 12 people (same 12 from above)=$72 a month (over time you can build to 50 people) even if it takes you 18 months is it worth the residual income?
wealth vault- An inner-circle membership club gives you unlimited access to an online rolodex of carefully selected institutional-grade investments, time-tested money-growing ideas, and little-known wealth-building resources and contacts. So, if a member purchases on the upfront annual plan, you’ll earn $70.50 per referred sale. If he/she purchases on the quarterly pricing plan, you’ll earn $22.00 per referred sale. Same 12 people: $70.50 @ 12 members = $846 a year or additional $70.50 a month.
Keep playing with the numbers…I think you can see what I’m trying to share with you. And in this scenario I am only going over 3 products in this particular sales funnel.
You can create your own sales funnel with your primary network marketing company attached. There are many ways to create your residual income formula. The best target market is ANYONE who might be interested in learning how to make money online, make money blogging or make money in affiliate marketing.
If you are serious about getting started on creating your own residual income formula – I would highly recommend you check out some of the affiliate programs mentioned or head over to clickbank which is a secure online retail outlet for more than 50,000 digital information products. Also don’t forget about Amazon with their plethora of products.
PS: Need a Step By Step Marketing System and Training Platform, or you already got that covered? Just in case…head over here –>Click Here For Instant Access
Follow Me On Twitter – Ginny Dwyer
Connect With Me on Facebook – Ginny Dwyer
Check Out My FB Page – Ginny Dwyer’s Fan Page
Ginny Dwyer is an affiliate and network marketer helping others build a long term residual income.
Ginny,
Very good affiliate marketing information. I like your examples it really makes sense just how much you can make on recommending products to other people.
Thanks,
Bill
Thanks Bill. It really does add up over time. If you stay the course it will help others as well as build your residual income.
Very good insight here! Thanks.
Thanks Rita for your comment. It’s amazing how your income can add up over time. Ray’s blogging course definitely helped us all
Thanks for the share Ginny! The article was informative and the links very helpful, especially the link for working online at home. Stephen
Hey Ginny,
Great post as always. Yes got to say knowing your target market and promoting a product you believe in are key to earning money online.
Thanks fro sharing
Damayanthi
Damayanthi recently posted..Powerful Facebook Prospecting Tips
Hi Ginny! Another great post.. You know, the sooner we get started on building residual income, the better. It’s something that should actually be taught to our kids both in school and at home at a very early age.
We don’t want to work 40+ years of our life without having built a passive income stream that can carry us through the rest of our lives!! It’s SOOOO IMPORTANT!
Thanks for helping educate people on this subject.. LOVE IT : )
Cezar
Hey Cezar,
Thanks for commenting. I cannot agree with you more. I wish the school systems taught more on residual income and network marketing. Maybe in time?! My kids see first hand how passionate I am about the industry.