Passive Income Opportunities, Make Your Money Work For You
What is passive or residual income?– Before we discuss passive income opportunities, we first have to know what passive income exactly means and how it works. Passive income also known as residual incomes refers to commission or rent received on a regular basis. Very little to no work and effort is used to generate this income type. It is however very important to note that the income type is taxable and is considered a result of capital growth by tax authorities and some Financial Institutions.
Secret to opportunity– The secret to passive income success lies in research and identification of recurring income source, in other words a source which will pay your for every sale or purchase. If you decide on Affiliate programmes as your passive income source, you need to firstly establish who your target market will be and to approach them as tactfully as possible.
Benefits to passive income- The benefits to passive income include freedom of choice to work at anytime, any were, your income will not depend upon office hours, pay raises are easily achievable by merely creating more income streams, provision can be made for future retirement funding, income is unlimited and you will have more free time for yourself instead of sitting behind a desk everyday.
Online passive income opportunities– Online passive income opportunities are endless and can range anything from affiliate programming, information products such as ebooks, software products, advertising commissions, pay per click campaigns, referrals, membership sites and reselling.
Internet as residual income opportunity- The immense popularity and worldwide user-base makes the internet the most lucrative money making tool you will ever find, in the comfort of your own home. Affiliated programmes are super popular business models with free software for programme operation, easy setup, member support, business costs are minimal in terms of office space rental, equipment and hardware leasing, general overheads and labour.
Definition of affiliate programmes– Affiliate programmes pay members for advertising of products or services via the world wide web. The product merchant supplies the advertised product or service, tracks and traces purchases or sales and then pays out commissions accordingly. Merchants should offer high commissions on successful sales on clients with multiple sales requirements. This will ensure a steady income stream for the member. Multiple sales tiers is another fantastic added bonus, which refers to payment at different levels usually starting with commission and building thereon.
Difference between residual income– and traditional affiliate programmes- The only difference between residual income- and traditional affiliate programmes is the fact that commission is received regularly for residual income programmes, while affiliate programmes are once off payers.
Types of affiliate programmes– The main types of affiliate programming are: Pay Per Click, which pays affiliate members according to merchant website performance, Pay Per Sale which pays affiliate members commissions based on successful referred merchant product or service sales and Pay Per Lead which pays affiliate members for trade leads