Friday, November 14, 2008

Is This Residual Income Home Business What You've Been Searching For?

Residual Income Home Business

The biggest key to turning your internet marketing strategies into a residual income home business is to make sure that you do your homework. It's important to do your research. Ensure you have something that they want, or a solution to their problems.

It can be a product that you have created, or you can use one that you are promoting as an affiliate. When we think of a residual home business, the best example is probably the membership site, where ongoing monthly fees are collected. But the term can also relate to any model that brings in ongoing cash.

The only difference between an ongoing monthly income through using a membership site strategy as opposed to using any other marketing strategies is that the income is accrued in a more automatic fashion. You can do the work once, and be financially rewarded with a residual income home business every month from then on.

But this model has a definite downside.

While many of those online marketers that run a membership site are absolutely sold on the concept, there is a downside to using this model as a residual income home business.

Don't get me wrong, a membership site is only one example of how you can reap the benefits of an ongoing monthly income, and in fact most online business opportunities offer ongoing monthly income, except for one subtle difference; it's not automatic.

With residual income home business, like membership sites, you do the work once, then reap the ongoing monthly financial benefits. Theoretically again, your customers pay you each month, and you've already done the work. But is it?

Imagine for a moment that you are a product owner, and you sell one product to one customer. Apart from teething troubles, like downloading problems, once they have their product and you have their money, the transaction is over.

When you look more closely at the membership site model, you find that, although you have a residual income home business, your responsibility to your members is quite intensive. There would appear to be far more stress involved, particularly when you have an obligation to provide top notch customer service on an ongoing basis in order to keep your members.

Not only this, but you also need to ensure that you are providing value for money in an ongoing way to retain your members.

If your goal is to attract residual income, home business scores very highly on the "can do" barometer. Many have seen the benefits of doing a bit of legwork one time, and benefiting from that work over and over again. This too has its pitfalls, but once again, any home business opportunity, mlm or other similar venture becomes a much more attractive alternative.

While there are many business opportunities to choose from, its easy to suffer from information overload and end up feeling overwhelmed. The typical result of information overload is a tendency toward procrastination, and a loss of focus. If you lose focus, you can't take action, and it's action that builds success.

So no matter what opportunity you may decide to work with, the key point is that you take action. Nothing has to be perfect, you can fix things as you go along.

What we're talking about here is the snowball analogy, the snowball only needs a very small nudge to start on its journey down the slope. It's that little push that is the start of the momentum that creates the massive snowball at the bottom of the slope. And that applies equally to your home business opportunity, MLM or whatever you choose to do, it lives and dies by the same analogy.

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