Not many people know about the residual income model and what it can do to literally help them enhance the value of their lives. Thus, it is with this post, that I will attempt to explain what the residual income model is, who presently benefits from it, and most of all, how you can benefit from it.
The Residual Income Model Versus The Conventional Income Model
The great majority of working people are under the conventional income model, wherein a person essentially trade dollars for hours. You work a great amount of hours a day and per week, and you earn cash for those hours worked. You are allowed a fixed time for vacations and sick time with which you still get paid, (in most cases). The course, the major drawback to the traditional income model is that once you stop working for whatever cause, your earnings stops.
With the residual income model, you get paid over and over again for doing a job once. This model will allow for more versatility in your life simply because that you are not trading hours for dollars. Rather, you take the time to put in the work to provide a product, or service... Something that has a subscription component related to it. As soon as you acquire customers for your product, that product is paying you every month, regardless of whether, or not, you ever work again.
Who Recently Benefits From The Residual Income Model??
Recording Artists, Authors, Actors and Actresses, as well as Network Marketers, (just to name a few) all take pleasure in the advantages that a residual income model provides. For example, when a film start puts in the work to produce a new movie. The film star will do around 3 months worth of work so as to get the film to the point that it's ready to be released. Once the movie is made public people will pay to watch the movie. This is residual income. When the movie is done with it's run in the theaters, it will move to Blue Ray DVD. A lot more residual income. Then following that, the movie will start to play on cable and local TV stations which means what? Even more residual income.
How To Start Your Own Residual Income Model
If you think that starting your own residual income model is too much, or too costly to do, I have good news for you. It's not nearly as hard as you think it maybe. I integrated my residual income model back in September of 2010, and I am glad to say that I haven't looked back since.
Nevertheless, starting a successful residual income model will require that you perform the following:
1. Study and learn all you can regarding what it is you want to do.
2. Invest in your own development.
3. This one is key. Whatever you decide to do... Never EVER GIVE UP!! This is the worst thing you can do.
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