Why Should You Consider A Home Based Business with Residual Income | My Home Biz Journal

Thursday, December 6, 2007

Why Should You Consider A Home Based Business with Residual Income

Why Should You Consider A Home Based Business with Residual Income
Copyright © X. Hong Ying

What is residual income? Simply put, residual income (alias, passive income) is income earned on an ongoing basis for effort done once in the past. A home based business that generates residual income typically involves plenty of Internet marketing to promote affiliate programs. Affiliate marketing is a revenue sharing partnership between a web merchant and one or more affiliates. The affiliate is paid a commission for completing sales or referring leads to the merchant. The advantage to the affiliate is that he does not need to have his own product or inventory, nor does he need to worry about e-commerce, bookkeeping, or even customer support as these responsibilities still rest with the merchant. Once the affiliate has built his own team of downlines, he typically will get a commission for the sales and leads his downlines make, hence residual income.

Why should you consider starting a home based business promoting affiliate programs? Here's why:

1) A home based business with affiliate marketing offers enormous potential of residual income.
We can all appreciate some extra money to use, whether to subsidize paying the bills, make expensive purchases, support hobbies, vacation, provide for the family, provide for retirement, or just for altruistic purposes. Affiliate marketing can help you reach all those goals. Depending on the size of your goal, you can keep adding to your streams of income until your goal materializes. It is not a myth that residual income through multiple affiliate programs has made millionaires out of ordinary people. This kind of income potential just does not exist with a regular job.

2) A home based business with residual income means freedom.
First, you are free of your boss. Being your own boss can give a whole new meaning to your life and career. At the minimum, it will give you natural motivation and a heightened sense of fulfillment. After all, wouldn't you want to prove to yourself, if not the world, that you can live and prosper without being at the mercy of any employer? Second, working for your own business means complete flexibility with regards to location and time. No more sitting in the traffic during rush hours, not to mention helping with the relief of the energy crunch by sparing the gas (the monetary saving is good, too) and causing less carbon emission. Third, you will have the complete freedom to choose how much or how little to work, and you can change your mind when you want. In other words, you are free to act upon your free will.

3) A home based business via affiliate marketing means more for family and friends.
Affiliate marketing may require more time commitment initially, as would be the case in starting anything new, but less effort later. You will undoubtedly have more time for your kids and loved ones. You will have more resources to help your communities, too. Your affiliate marketing skills can be passed on to your kids with much more ease than if you were to help them pass the CPA exams. They can in turn be on their way to financial freedom and choose the kind of life they want to live.

4) Home based affiliate marketing has a strong future.
Someone said that affiliate marketing is the job of the future that is happening today. What this is capturing is really the power of the Internet. The Internet has provided a platform for people all over the world to come together and communicate. Affiliate marketing caters to the Internet communities by facilitating the sharing of the information. Intuitively, as the Internet grows, the need for affiliate marketing will also grow, and it may well become the norm of a job in the future. In light of this big picture, it may be to your advantage to get a head start now before it becomes too competitive. (It is already competitive in some segments.)

5) It's not rocket science, and you can do it.
It is easy to get started in affiliate marketing. Many merchant programs are free to join. Some also pay handsome commissions. However, free does not always mean the best. It is more important that you start in a program with solid training and support. Also, as you get into affiliate marketing more, you will see that rewarding involvement will usually require some investments, though you should be able to choose when and how much to spend.

There will be a lot of new things to learn and recommended steps to take initially. Stay focused. It does not matter if you don't do everything recommended or do things out of the recommended order. The roads to success are varied; but in all cases, taking actions consistently and persistently will bring you closer to your goals.

Can't afford the time commitment? Not a problem. Many people start out on a part-time basis and gradually build enough business to replace their offline income. That said, it's not compulsory to give up your regular job. One great thing about home based affiliate marketing opportunities is that you don't have to risk losing the income from your 9-5 job if you don't want to.

In short, home based affiliate marketing business will bring you huge potential of residual income. It is not rocket science, and you can do it. And if you can do it, why pass it up? Read up about it and get your feet wet. You may really enjoy the freedom it affords you.

About the Author:
Ying is the webmaster of http://www.homebizonlinethatworks.com/.
To find the best home based business ideas and
opportunities so you can work at home visit:

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