Work from Home Ideas – Can I build a residual income?
Aaaah, that magical term – Residual income, all from a Work From Home Idea.
What is that then? I have heard people talk about this Golden Fleece, this Holy Grail, this Residual Income. But what is it?
I hope I can explain this to you, because this is exactly why I chose my business, when I was looking for a Work from Home Idea.
As I explained in a recent article, with most work from home ideas (but not all, so choose carefully), you can increase your income by introducing other people into the business.
So let’s suppose you start your work from home idea, and start to earn some money from selling some product – an extra £50 a week, part time, maybe 8-10 hours a week. That’s not bad. Treat the kids to a trip to the cinema and a hot dog.
Your friend sees that you’re making a bit extra from your little work from home idea, and asks if she can do the same, and then your sister joins as well. So with a couple of team members also earning an extra £50 a week, with your added bonuses, you might now be on £75 a week.
You now have two people in your team, all doing the same work from home idea. Then your friend and your sister start doing the same as you, and they each introduce 2 friends. You now have your friend and her two friends, and your sister and her two friends. That makes six. Your bonuses go up, and you’re now on £100 a week.
Each of those friends does the same. And so on. You can see where this is going.
Now this might take you a month, or a year. It is up to you how quickly you build your work from home team. But the key point here is…. You are still doing your 8-10 hours a week. Maybe a couple of extra hours supporting and helping your team members in your Work From Home Idea.
Now – Residual income. This is where it gets really interesting. As you build your team, some of your team members will want to build teams too. And some of their team members will as well. So your Work From Home Idea will grow whether you want to or not.
So even if you decide to take a break, go away for a couple of months for some winter sunshine or whatever – you are still getting paid your commission from the sales of all of your team members in your work from home idea, and your team is growing even bigger because they are growing their teams! Can you see how massive this is?
In my Work From Home Idea, I regularly meet people who are earning £2000 a month, £5000 a month, £20,000 a month, and much more, whether they get out of bed in the morning or not! Now THAT is residual income.
Now when I started, I realised that I needed to work hard on my Work From Home Idea to get to that point. Most of these opportunities are simple, but not easy. The harder you work, the more you earn.
But when I started to understand how this worked, I suddenly saw a big picture, and got really excited, and I then saw a short, three minute video about Work From Home Ideas that really blew my mind!
If you’d like to have a look at that video, or find out more about working with my Work from Home Idea, or working with me, Click Here.
Bye for Now