Starting a business for the purpose of passive or residual income
The motive behind starting a business is often to make money that will be
enough to cater for one’s needs. Earning large enough income will give you
the opportunity to accomplish and live the type life you desire.
But most people don’t have the ability to live life on their own terms because
they are either a slave to their debts or cannot break away from living on pay
check. But this problem can be solved by the many benefits of residual or
One of the best ways to gain financial freedom is by setting up a business with
residual income opportunity. There are many businesses both online and offline
that one can set up to generate residual income.
Residual income by definition is the income one generated long after the work
has been completed. It is the type of income that one continues to generate for
as long as the business lives. Residual income also known as passive income has
no limitations based on time.
Starting a business with residual income opportunity will enable you live life in
your terms. You will continue to earn money whether you are there working or not.
The amount of money you can make does not stop whether you get out of bed or not.
In addition, it is possible to have different streams of residual income. Unlike having
two jobs that will consume your time, multiple streams of residual income will
increase your earnings while also giving you enough free time. Residual income
gives you a more lucrative alternative to finding a side hustle that will stress you
and consume your precious time.
To kick start your dream of financial freedom, here some of the residual business
opportunities that you can venture into.AWSOME FASHIONS
Invest in real estate
Rest estate is one of the most lucrative means of generating passive income. Apart
from being lucrative, it give you rest of mind and requires little or no work.
This involves promoting other people’s product online of which you get a
commission once it leads to sale. Affiliate marketing can be done by marketing
people’s product on your website. It can also be done by promoting them on
social media platforms.
Affiliate marketing is a great way of making money online. You can make up to
six figures every month from the comfort of your home. And remember, you do
this at your time and pace.
Write an EBook
Selling a book online can be another great way of generating residual income. After
the initial work of writing and creating the book, the only thing left is to make your
money on every sale. You don’t need much capital to produce an EBook, no printing
and shipping costs.
Other residual income business opportunities that you engage in include:
• Create lead generation website
• Start a drop shipping business
• Create a mobile app
• Invest in vending machines
• Rent out your spare room
And the list is endless. Stimulus bill stalled out. Shame–So many families and individual, cities
counties, states, business, and especially unemployed mothers in need during
SELF-RELINANCE — It is time to utilize time and knowledge to start an additional
flow of income. It’s so simple. Just Google starting a business.
FINANCIAL FREEDOM — Stop living paycheck to paycheck.
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What are the best MLM companies?
How to succeed with a MLM company?
What are the disadvantages of a MLM business?
There is a role everyone can play and profit from. Starting a small business,
employing the millions that will need a job is a worthwhile endeavor.
Yes, it is simple than anyone think. Step by step books will tell you how to
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What are the steps in starting a business?
What to do before starting a business?