A new term is breaking into the home business networking world. It is Viral Marketing for Residual Income.
Let’s break that new term down.
You may be familiar with the Internet term “viral marketing” (Not meant to carry the bad connotation of a virus, but referencing “viral” as something that spreads quickly.) Here is one definition related to the Internet:
Viral marketing depends on a high pass-along rate from person to person. If a large percentage of recipients forward something to a large number of friends, the overall growth snowballs very quickly. This is the social media spread of websites like Myspace.com and Youtube.com.
The mainstream catches a hold of an idea or story and, like catching a cold, spreads the “virus” by telling other to go look at the blog post or new video.
Residual income (passive or recurring income) is income that continues to be generated after the initial effort has been expended. (Compare this to most people’s income focus: linear income, which is “one-shot” compensation or payment in the form of a fee, wage, commission or salary.)
There are a variety of ways residual income can be earned. Here are some examples:
Transfer the rights to a book you wrote, a software program you created, a gadget you invented, or a song you recorded, to a company that agrees to pay you a percentage of each copy of your work sold in the future.
Become an actor and draw residual income from each of your movies, TV shows, or commercials, each time they run.
Let an oil company drill a well on your property in exchange for a percentage of the revenue.
Purchase an office building or other real estate that earns you recurring income through lease or rental payments.
Start a savings and investment program that pays you residual income in the form of interest or dividends.
Join associate programs
Regarding the last choice; Call them what you will, referral, reseller, affiliate, bounty or associate programs are very popular on the Internet. Some of them offer similar opportunities for earning residual income. Companies arrange such programs to compensate reps, resellers, dealers, associates, affiliates (or whatever the designation used) for promoting their products and services.
Reps are generally given a unique I.D. number and/or web page or site, so the company can track the source of each sale and compensate the proper rep. (Keep in mind that many associate programs only pay one-shot commissions, rather than recurring, residual compensation for your efforts.)
Most of us are probably covering our overhead and bills with earned income, requiring us to work, get paid, and then do it all over again. But why rely only on that, when you can easily find ways to add residual passive income?
If you can incorporate viral Internet marketing to your earned income, you have what I would call the ideal.
Scott Letourneau is the Founder of Viral Residual Income, a way to get people on the fast track to viral residual income and an authority in helping people form entities, grow their business, and protect the assets of that business. For more info contact: Scott Letourneau at 702-367-7373 or at viralresidualincome.com
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