Do you want to build a residual income?

@trinale (1479)
United States
December 31, 2006 12:34am CST
Since you're supposed to start new discussions from within your listed interests, I chose this one to start. I want to build a residual income so that I can retire and live off. I just want to earn enough to live comfortably. I don't have to be rich. My question is this the type of money people coming online want to make or is the majority content with the paid surveys and email type programs? I see alot of people jumping on offers like that. Your thoughts?
1 person likes this
15 responses
• United States
30 Jan 07
I believe there are a lot of people on mylot that like to do the paid surveys and email programs. I know that there are a bunch too that like mlm and residual income and probable a lot more that do not know what mlm and residual income is. As well as a group that have tried mlm and have gotten burned and spent a lot of money to get a lot of nothing. Sooooooooooo ---- before anyone steps into the mlm arena I think you really should consider the following. Residual income What to look for in a company before you join? 1. Must have a product that people want and will continue to want to purchase again. 2. Join a company where you do not need to have inventory or very little. 3. Low cost to start up and maintain your business. 4. Must be able to make money from Day 1. Can you earn your money back that you invest each month? 5. What is the pay out? 6. How many levels do you get paid out on? 7. Do you have support ? 8. Is there good training? 9. Does the top leadership communicating with all levels? --- can you call them for help? 10. Team Support,tools , resources, easy to retail product. 11. Several ways to make money. 12. Company web site, marketing materials, etc. These are some very important things to consider when you start in mlm and want to earn residual income. I absolutely LOVE the company I work for and there are many ways to build a team, customers and just have FUN with a great product. Check out my site and look at our company newsletters to see how we do what we do, look at the pay out, fill out for the free weekly drawing provided from our company. www.Candles2love.com I know that there are other companies that are good out there too. But you owe it to yourself to really check out a business before you join. Ann
1 person likes this
@trinale (1479)
• United States
17 Feb 07
I agree with you all all points with the exception of #4. Unless you already have a list of friends or associates ready to jump on your offer, you won't make money from day 1. All legal programs take some time to build.
30 Jan 07
I admire this. Although personally i don't think this is possible without dedication to posting. a friends of mine makes a fair ammount here but i'm not interested in that side other than from people like you. (if you follow me) Hows it going so far? It's a good idea, so i wish you luck with it! kudos
@trinale (1479)
• United States
30 Jan 07
I wonder what's considered a fair amount. If I referred 500 people (and that's alot!) who completed the same amount of post over the same amount of time as I have, my estimated is that I would earn $115 per month. As I mentioned in a previous post, I would do better to work 1 hour 5-days per week at minimum wage and earn more. Hey, maybe if I post regularly on a weekly basis maybe I will have earned enough to get a check cut around Christmas. That would be a nice gift.
1 person likes this
@limitup (324)
• United States
17 Feb 07
500 people at $115/month? Ouch. I'll probably be quitting early if those are the kind of results I see.
@limitup (324)
• United States
17 Feb 07
I really like your point about taking a break from internet marketing. It is very easy to lose perception in this digital world. I do not think I will quit mylot. I like your point about networking. Maybe we can get a little extra traffic to our real income sites (though at present my profile is just linked to a low-post, low-traffic blog). Or maybe even provide backlinks to them. Surely mylot can be profitable through back-end marketing. I suspect my time would be better spent focusing on AdWords campaigns, but hey, it's kind of fun to chat and earn money, even if it's just a buck or two.
@machine2 (24)
• Singapore
11 Feb 07
Thought of earning residual income, that why I'm here. Also joined some others affiliate programs to creates multi-streams of incomes. I also tried HYIP, one of my good income stream.
@trinale (1479)
• United States
17 Feb 07
Beware of the HYIP!! You maybe in earning now, but if you stay with it long enough -- you will loose in the end. Bottom line, HYIP are designed for short term earnings and here in the U.S. are illegal.
1 person likes this
@limitup (324)
• United States
17 Feb 07
I have to agree with that. High Yield Investment Programs (HYIP) are almost always nothing more than gambling.
• United States
14 Feb 07
I also believe that building a residual income is the best way to go. I really don't need to be rich, but I want to create an income that is steady and that allows me to do the things I want to do without worrying about what it's going to cost. The only way to create residual income is to have a business in which you can duplicate yourself which is what network marketing/MLM does. However the biggest drawback to this type of business is when the majority of your income is based on group volume quotas. This creates a very unstable income and creates more work for you trying to encourage others to work their business. I have been fortunate to find a company without group volume quotas. You can concentrate on working your business and working with the people in your downline that are serious about their business. The ones that join looking for a get rich quick business can waste your time since they will always quit as soon as they find out that they have to work for their money. As you can pick these people out quickly, you won't waste time trying to get them to work their business. If you would like to get information on the program I have found, go to this website: http://www.1hoturl.com There is no cost to join and you can evaluate this business with no obligation.
@trinale (1479)
• United States
17 Feb 07
That is a good company you've choosen. They've been around for as long as I can remember and I've been around for awhile. In fact, I believe I'm still a member. I joined them before I left the internet a few years ago due to military commitments and forgot about them. Thanks for the reminder!
• United States
17 Feb 07
I have tried taking surveys, but each time I hit the old claim your prize by completing these offers. I gave up. I have been unemployed for so long now and am constantly researching jobs that offer residual income. My problem is not having money to start up. Right now I am working a home based job which is very nice for limited income, as it pays $8.00 an hour, but at least I have a tiny amount coming in while I search for the right place for me. I am trying to save enough so that when I find that right for me job, I will be able to invest in it. I am reading all of the posts here with great interest and will be checking a few things out.
@trinale (1479)
• United States
17 Feb 07
I hear you about the survey programs. By the time you finish jumping through all their hoops and done paying shipping costs for the free products you have to ask yourself if it's worth it. Also, see my earlier comment about spending too much time in front of the computer. You have a plan in place for building long term income. Stick with it. When you start earning enough to offset the cost of joining a paid program, you can focus on that program and build from there. You should consider registering a business name like "Jane Smith dba/LovesFreedom". You could then write off your expenses (and portions of your utility bills) as a business expense.
@limitup (324)
• United States
20 Feb 07
Yep, he's right. Stick with it. One of the most frustrating things about trying to make money online is that these sales pages have us believe we should be making huge money in only a few weeks. It just doesn't happen. It takes work. Out of curiosity, what home based job pays you $8.00? Was it something you found online or was it something you found locally?
@BestTeam (54)
• United States
29 Apr 08
With my business you do not need to add other things to it. There are multiple streams of income built right in to one great company. It's willable to anyone you like, it's ongoing, long term, not MLM, it's not selling and anyone can do it. I'll be happy to show you how and match your energy and efforts. It's mutually beneficial!
@nishdan01 (3051)
• Singapore
17 Feb 07
Residual income is good for those to supplement their income at home. write articles and ebooks, and I've found a couple of sites online that pay you ongoing royalties for your articles. They're http://www.wiseorb.com/?A=240 and www.loose-ends.net Ebooks (and indeed traditional book publishing) pay you royalties for something you write once. The key is to build up your portfolio of income streams, so you have small streams of residual income coming in from several different areas. I am constantly looking for new ways to do this, and that, I think, is the key to really succeeding at this. You need to be prepared to look, and do the groundwork in the first place. But once you've done the initial work, you'll keep getting paid for it over and over again.
@anup12 (4177)
• India
12 Apr 07
Yes I think in that way we will be able to build a residula income that will definitley help.
@KrauseHome (36447)
• United States
30 Apr 07
Well, the biggest issue with people who are wanting to build a Residual income online comes when people are just trying to jump into everything, and then not taking the time it takes to work any of them in order to make the type of money some have claimed to make off of some of these. Yes, you do have to watch what type of program you may want to join, as there are a lot of SCAMS out there, and some that are only there for the moment. And if you are looking for the GET RICH schemes, you need to really be cautious, as in reality, these are not anywhere to be found. I on the other hand, am doing a couple of things that do require a Small investment each month, and actually doing OK with them. I just do what I can when I can, and learn to network and make friends with people, and let the rest come into play. But I also am not just looking for other things to add to disuade me from the income I know that is out there from what I already do.
@naman95 (1552)
• India
20 Feb 07
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@jossml (464)
• Puerto Rico
30 Jan 07
Yes, thats my answer I want but I have failed in the attempt, MLM programs I have tried but send me some info on how you can build a residual income and I will check it.
@creationhub (3066)
• Malaysia
3 May 07
Believe me, residual income can be a reality if we are willing and determined to achieve it. I am my own testimony of succeeding in this area. Getting into the right business and investments are very crucial to achieving financial freedom. I am not rich today but have sufficient to live each month. Someday, I will post my successful sites for others to benefit too.
@BestTeam (54)
• United States
28 Feb 07
You are smart to want to build a residual income and you can have it! Do something once, and get paid for it over and over, forever! I, for one, am also not content with paid surveys and email type programs either; those, in my opinion, are a waste of time. Trading time for money is not what I want to do, I have done it, like most people, with a "JOB" (Just Over Broke), but now I know residual income, from a home based business, is the best thing out there.
15 Mar 07
hey yes man i want to have a residual income from home can u show me how. Hey visit this cool site www.sqwt.blogspot.com
@moreinfo (3865)
• China
5 Jan 07
its possible, but you need to build multiple income streams through all earn money online programs. try to find moreinfo on this program: http://howtoearn.22usd.com for $22, you could get lots of ebooks and could sell them, and if you could accruit more friends join, you could earn lots of money.