Making money online is one thing but having a consistent income is another thing, so here’s some ways and tips on how to earn residual income online.
Having a steady source of recurring income can be a wonderful asset to have with an online business. The thing with this is that most people find it difficult on how they can do this.
- Maybe you think your niche doesn’t allow residual income?
- You can think of any recurring income opportunities?
- Or you just have no idea where to start?
So here’s a list of some great Tips & Ideas for those of you looking to make some residual income for your online businesses.
The following list of ideas and/or tips WILL take some work, but you wouldn’t be hear searching for this if you weren’t a driven individual, so keep this in mind when going through the list below.
Nothing worth having comes easy!
Promote Recurring Billing Programs
For those of you in the affiliate marketing game, this can be a very lucrative thing to get into.
You’re probably familiar with affiliate programs, promoting products for single sales or maybe even digital products with a couple up-sells every now and then.
Now I’m not saying this is bad, but having a recurring source of income helps me sleep better at night.
All recurring billing programs are, are programs that offer a monthly membership fee or a recurring bill for their members (usually monthly).
This means for every month they stay a paid member, you get paid a commission. ClickBank is a great source for finding online and digital products that offer these services, and most offer pretty decent payouts.
Create A Service Or Membership Platform
What’s something you’re skilled at? Do you have a blog that people would pay to be apart of?
A couple questions you need to ask yourself to get the ball rolling on this one, when setting up anything with a monthly payment, or any payment involved, people have to see what you’re offering is worth more than they are paying.
Anything less than this and you’ve lost a potential sale.
Lets say you’re skilled at/with:
- Building gaming computers
- Graphic Design
- Giving nutritional advice
- Being fashion oriented
These are all skills that can be used to create residual income online! You just have to learn how to utilize these skills.
These are only a few of the almost endless opportunities out there you could pursue!
Building Computers- You can offer a free e-book with a step by step guide on how to build a gaming computer and throughout the book you insert affiliate links to buy the equipment they need to do so.
Graphic Design- You can offer you services from simple projects like making social media headers for a few bucks a pop to $20 or even more creating logos for brands and websites.
Giving Nutritional Advice- You can offer an e-book with great ideas and tips for those looking to clean up their diets or even charge a service for those who are to lazy to make their own.
Being Fashion Oriented- You can start a membership area or monthly subscription for members where you can give them on the news on the latest fashions and trends. You can even take it up a noch and thrown in some affiliate links with this and get paid per their purchases. (Which is actually a Great idea)
I think you’re starting to get my point, you just have to OPEN YOUR MIND and start seeing the opportunities around you.
If there’s a skill you have, there’s most likely someone willing to pay for it.
Write An E-book
Now this shares some similarities with I mentioned above, you can write an electronic version of a printed book or what is commonly referred to as an e-book.
This can be anything covering a subject or skill that you have ample knowledge on. If you have a blog with decent traffic, a good social following, or are familiar with SEO marketing, then you can use any of these methods to get your book out there.
You can even set up an affiliate program for your book or list it in an affiliate marketplace and let them do the work for you. Of course you will be giving some of the profit to them for commissions, but with you doing the work on your end and them on theirs, why not?
You write the book -> Charge per download -> You make money
It really can be that simple, granted it will take a little work, but if you put in the effort it can pay out nicely in the future.
Create A Product Comparison Site
This is a branch off of affiliate marketing, or not per say a “branch” but a type of affiliate marketing.
You find a niche with a large amount of products, that are typically technical or complex for most people. Why do they need to be “complex”?
Typically since a product is technical or complex most people are going to be confused as to which product is better than the other (this is where the high amount of products comes in) so you offer reviews and comparison tables or videos on these products.
The readers likes what they see and they use your links to purchase the products, pretty simple process.
For me the absolute BEST affiliate program out there is Amazon’s program, Amazon Associates, hands down!
With their program you get access to their HUGE selections of products making finding a niche not all that difficult, and they even offer comparison tables and graphs you can use for your site, so really it’s a no brainer for this kind of site.
Sign Up For Affiliate Programs
Now this is obvious but I felt I had to include it, you’ve heard me mention plenty of times already about “affiliate products” and “affiliate marketing”, it’s ESSENTIAL that if you’re running a blog or site to look into this.
This can mean the difference from earning a few dollars a month to a few thousand or even more! People make full time incomes from affiliate marketing alone, so you’ll be doing yourself a dis-service by not investing your time into it.
Moral of the story is START SEARCHING, if you haven’t already tried looking there are tons of affiliate programs out there for almost any niche, just type “(product or niche) + affiliate program”, and you’ll turn up thousands of programs wanting you to sign up.
Note: Remember to do your own due diligence here, the kind of products you promote reflect on your trust level online, if people feel they can’t trust you to recommend quality products you’re not going to find much success with this business model.
Try Drop Shipping
Now this is something that will take a little more work and some upfront investment but if you automate as much of this business as possible (such as hiring employees, etc.), this can almost be a self-sufficient business.
So how does it work?
I’m sure most of you have heard of the term, but just never really knew what it was, well it’s a store based platform that people will use to purchase products you offer, and instead of you handling the inventory and shipping it yourself, your supplier ships the product directly to the customer.
Essentially you have a physical products business but don’t have to worry about the hassle of dealing with inventory.
The purchase is made on your site-> Your supplier is given the order-> They send the customer the product.
Typically you’re going to want these products to be hard to buy locally, like fore ex. competition rubix cubes or “speed cubes”. People use these for rubix cube competitions and they are specifically made for those looking to get the fastest score possible.
So the demand is there but this wouldn’t be something that you would typically find in stores. So you would find a supplier that sells these, set up your e-commerce store (online store) and put your speed cubes up for sale.
If you go with something to generic, if people can just find it in stores than you’re going to be losing a lot of your potential customer base if you would have just gone with something a little different like the example above.
Now of course this is going to take a little more work than a simple 3 step process, but if it’s something that interest you, it might be worth looking into.
Setup A YouTube Channel
YouTube can benefit you in two ways, Adsense or traffic. Just finding which one you need to concentrate on is the thing.
If you find yourself mildly entertaining or posses a specific skill or are just a glowing personality, YouTube might be your place, YouTube is HUGE, so there’s no short of amount of traffic out there or people willing to subscribe to channels.
You can focus on putting out good/entertaining contents and the bigger your channel gets the bigger the ads that want to be before you video and the higher the payouts.
Now the typical way that YouTube can be beneficial is through traffic. You can use YouTube as a source for traffic for your blog or site.
Offer tutorials, how-to videos, all linking to your site in the description, offering “further knowledge” for your site. With YouTube being second to Google for people’s source of information online, it can be an excellent way to further your business and your earning potential.
Invest In Some Online Real Estate
Domains, domains, domains, they are the essential piece of any online business, without a domain a website can be found, used, nothing.
People are creating new sites every day, and they are looking for domains to list their site under.
This means opportunity for you. Using a keyword tool you can search keyword rich domains that haven’t been purchased yet and you can go out, purchase the domain and flip it for a profit when someone comes around looking for it.
Don’t think this can be profitable? Check out this article on a man that makes over $400,000 a month on domain real estate alone! Now I’m not saying these results are typical, but the opportunity is there.
Wrapping Things Up…
If you’re scratching your head still and don’t know what direction to go into, you should check out how I got my start online.
They took me from a beginner, with almost no idea about anything online and gave me the tools and knowledge to help me start my first online business. (Even this one here!)
It’s the #1 program I recommend for beginners looking to find their start online, you can check it out by clicking the link in blue there, or the banner below.
If you have any additions you would like to add to this How To post, or have some of your own ways on how to earn residual income online, feel free to comment in the comment section below. I would love to hear them!
P.S. We have a serious Taco Bell addiction and the affiliate links on our site lets us order off the dollar menu. Thanks for your support!