Residual income is a great way to be paid. In fact if you get the right residual income formula you will be paid every month for life even when you have finished working the business opportunity.
A residual income, also known as royalty income is a very simple structure on which you get paid not only on your efforts but by other peoples efforts also. A typical situation would be working for a company with a product you use and recommend. You would pay to use this product, and when you recommend the product and get sales, you will earn a percentage of this sale every month.
Depending on the program you are involved with will depend upon how your payment structure works.
Its like a song writer with royalty income. They write that song only once, the song gets published and sold to the public, every time that song gets used, sold, or sung by a new artist, the song writer gets a royalty. This is usually in the form of a small commission, however, this soon grows into hundreds of thousands. You can imagine how often a great song is bought, played, and has a cover copy done. This is a great example of a royalty income. Like I said, a royalty income is more or less the same as a residual income. You are getting paid later, for work you are doing now. This work is also leveraged by others who are also working the same business. But the true genius of this system is that everybody has the same to gain.
So how do you make a residual income work for you. Online you will find tonnes of opportunities online which offer a residual payment plan when you join their business. In fact there are so many out there it is very difficult to know which one to choose.
To find a successful one you need to adapt to the way of thinking which really examines the product, including the value and popularity of it. Its to easy to be taken in by the huge residual promise of high earnings, but in my opinion, you choose based on the product and not how much you get per sale.
If the product is in high demand, very good in its niche, has a great long term company with history, and is at a very competitive price, then you have the perfect formula for a successful residual income. Even if you are getting less than a dollar per sale, at least you know it will sale, and if it is selling, then you are building a down line who are also selling, along with a residual income.
So you can see how important this is to get right. Dont be dazzled by high earnings claims when choosing your residual business. The chances are it wont work for you and may put you off working towards your own residual income.
Just remember. Great product, great value, great company history, all leads to great residual income.