I spend in excess of 8 hours a day online. Writing blogs, articles for various clients, managing social media accounts and not to mention my accountancy work, sometimes I feel like I never get offline! Whilst I love being online, one of my pet hates is seeing helpful tweets or posts, clicking on the link, and finding it leads me to a network marketing page where I can buy some gimmicky product to help me with SEO for $27 (you know the type). That's not help, that is a sneaky way to sell a product! However, what these methods do for the sellers is create Residual Income. To me, their method is unethical and there is no need for it when there are genuine ways to earn Residual Income using the power of social media and online marketing.
WHAT IS RESIDUAL INCOME
Residual Income (also known as Passive Income), refers to income that is automatically generated without very much, if any, ongoing effort (after the initial set up of course). This may be commission that generates automatically or something such as Google Adsense earnings. Implemented correctly, you can start generating residual income as early as this week.
Let's look at 20 Fair Dinkum Ways to Earn Residual Income.
1. GOOGLE ADSENSE
Google Adsense works by enabling you to set up a free account then installing the adsense code on your website/blog. Each time a visitor clicks on an adsense ad you are paid a commission. Does it work? Well, our website and blog earns a combined $125 a month for doing nothing so yes!
Go to: Google Adsense
2. COMMISSION FACTORY
Australian based legitimate Affiliate Marketing company paying commissions weekly via Paypal. Excellent customer service, free to join. Set up an account then place the link on your website. If visitors click on those Affiliate Links you earn income. Make sure you say hello to Zane if you set this up.
Go to: Commission Factory
3. CLIX GALORE
Long standing Australian Affiliate program. Account free to set up. Can be a little complicated to navigate, and for some merchants (affiliates) you must wait to be approved. Commission rates differ but we love the selection of banners and graphics which look smart on your website.
Go to: Clix Galore
4. AMAZON ASSOCIATE PROGRAM
Heard of Amazon? Amazon is a website based in the US that sells everything from books to gardening tools.
You can sign up (free) as an Amazon Associate and even set up an entire website selling products that update automatically. No need to do much other than set up your account, embed the code into a website and wait for sales to earn your commission. The issue for Australia is that not all products are shipped to Oz, so you need to check product shipping details before you decide to list them for sale on your Australian website. We have successfully set up complete websites with Amazon products and they work beautifully.
Go to: Amazon Affiliates
Go to: Clix Galore
4. AMAZON ASSOCIATE PROGRAM
Heard of Amazon? Amazon is a website based in the US that sells everything from books to gardening tools.
You can sign up (free) as an Amazon Associate and even set up an entire website selling products that update automatically. No need to do much other than set up your account, embed the code into a website and wait for sales to earn your commission. The issue for Australia is that not all products are shipped to Oz, so you need to check product shipping details before you decide to list them for sale on your Australian website. We have successfully set up complete websites with Amazon products and they work beautifully.
Go to: Amazon Affiliates
5. PRODUCT RESELLER PROGRAMS
Being a Reseller is a fantastic way to earn a very decent income, if not making it the main earner for your business. Basically you sign up as a Reseller of a program (common Reseller opportunities include Web Hosting, Domain Names and Web Builder Software). Commissions are much higher than affiliate marketing and, if well thought out, you can have a website so well designed that it appears you are selling your very own product. As an example, check out these reseller programs.
AUS/NZ - Melbourne IT
US/UK - Organic with SEO
6. ONLINE RESOURCE RESELLER PROGRAMS
With the introduction of Cloud Computing, people are opting to store important documents online rather than use additional hardware to store files.
Now you too can benefit from the variety of online storage resources available. Simply sign up as a Reseller and receive commission for each sale generated from your website. One program we like is Livedrive. Reputable and the customer service team is very helpful.
Go to: Livedrive for Resellers
7. SURVEYS ONLINE
I am not going to start telling you that a fortune can be made from completing surveys online. However, if, like me, you consider discount vouchers and store credit as a big bonus then you will enjoy taking surveys. You might make $40 a week in Target vouchers - but that is $40 you did not have before!
Go to: Survey Compare
8. EBOOKS
Can you write? Is there a subject you are passionate about? Then try your hand at writing an instuctional ebook. Definitely an effort putting the book together, however should it sell that's a nice little residual earner for you. Check out this excellent article on 'How to Write and Market an Ebook'.
Being a Reseller is a fantastic way to earn a very decent income, if not making it the main earner for your business. Basically you sign up as a Reseller of a program (common Reseller opportunities include Web Hosting, Domain Names and Web Builder Software). Commissions are much higher than affiliate marketing and, if well thought out, you can have a website so well designed that it appears you are selling your very own product. As an example, check out these reseller programs.
AUS/NZ - Melbourne IT
US/UK - Organic with SEO
6. ONLINE RESOURCE RESELLER PROGRAMS
With the introduction of Cloud Computing, people are opting to store important documents online rather than use additional hardware to store files.
Now you too can benefit from the variety of online storage resources available. Simply sign up as a Reseller and receive commission for each sale generated from your website. One program we like is Livedrive. Reputable and the customer service team is very helpful.
Go to: Livedrive for Resellers
7. SURVEYS ONLINE
I am not going to start telling you that a fortune can be made from completing surveys online. However, if, like me, you consider discount vouchers and store credit as a big bonus then you will enjoy taking surveys. You might make $40 a week in Target vouchers - but that is $40 you did not have before!
Go to: Survey Compare
8. EBOOKS
Can you write? Is there a subject you are passionate about? Then try your hand at writing an instuctional ebook. Definitely an effort putting the book together, however should it sell that's a nice little residual earner for you. Check out this excellent article on 'How to Write and Market an Ebook'.
9. SMART TAX MANAGEMENT
This seems silly right? Tax, how can that create Passive Income? An an Accountant I can absolutely tell you that given the right advice about your business set up, spending habits and management of your income, tax time can offer you a nice little refund for simply working smarter. There are accountants who specialise in tax, and accountants who specialise in business strategy. You want both. Australian's can email me directly for ideas.
10. BANK INTEREST
Okay, this is a no brainer right? Got some extra cash, pop it in the bank and voila! Well, I tend to disagree. It is not that easy. Some banks offer dreadful interest rates, especially now. Once the interest rates are low, they are low for every product (except credit cards). Mortgage interest rate low? So is the Term Deposit interest rate. Shop around, check out high yield accounts that accumulate daily. It may earn you $100 a year, but that is income for simply saving your money.
WARNING
This article is not about striking it rich. I would never insist that Residual Income opportunities will make you wealthy. They don't. However, if you are looking for that little bit of extra cash these options are fantastic ways to earn additional income for not a whole lot of effort.
Do not sign up for any Passive/Residual Income Program that:
This seems silly right? Tax, how can that create Passive Income? An an Accountant I can absolutely tell you that given the right advice about your business set up, spending habits and management of your income, tax time can offer you a nice little refund for simply working smarter. There are accountants who specialise in tax, and accountants who specialise in business strategy. You want both. Australian's can email me directly for ideas.
10. BANK INTEREST
Okay, this is a no brainer right? Got some extra cash, pop it in the bank and voila! Well, I tend to disagree. It is not that easy. Some banks offer dreadful interest rates, especially now. Once the interest rates are low, they are low for every product (except credit cards). Mortgage interest rate low? So is the Term Deposit interest rate. Shop around, check out high yield accounts that accumulate daily. It may earn you $100 a year, but that is income for simply saving your money.
WARNING
This article is not about striking it rich. I would never insist that Residual Income opportunities will make you wealthy. They don't. However, if you are looking for that little bit of extra cash these options are fantastic ways to earn additional income for not a whole lot of effort.
Do not sign up for any Passive/Residual Income Program that:
- Requires you to invest more than $100 to start up
- Promises you fast money and lot's of it
- Involves foreign currency trading
- Asks for your bank details.
If you would like assistance applying any of the above steps to your website or business we recommend the Small Business Gurus team. Email SBG for assistance with your business.
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Thank you for sharing these tips. Many people will benefit from these especially when they want to earn money using this technique. I agree with what you say, with the plenty of scams that rise up these days, it is necessary to take precautions.
ReplyDeletepassive income from photos
My pleasure Joh, thank you for your kind comment. There are so many scammers claiming they have ways to make easy money , when in reality that is never the case. These people put others off legitimate ways to create multi income streams, which are just fine and certainly do provide that little extra financial support. Thanks again Joh.
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