With the dwindling nature of the economy in some economy recessed country such as Nigeria , one will have no option than to shed tears for both the unemployed and under employed masses.
People in these countries need to embrace online alternatives for creating passive income.
Remember that the internet is like a vineyard where their is fruit for all. the more your contribution the better your fruit will be. In this article,my visitors in all availableinfo will discover 5 ways to build residual income on the internet. Residual or passive income is that income source that keeps paying you on a consistent basis with very minimal effort.
1. Network marketing
This type of business leverages on the power of people, imagine having a chain of people whose effort keeps paying you on a consistent basis. Network marketing is an efficient way to build residual income fast. Reason being that by having lots of people in your network that keeps duplicating your effort, it means your income source also multiplies as the number of people in your chain increases. The beauty of network marketing is that your income source will keep paying you for as long as there are people still working in your network. Lots of legitimate network marketing businesses abound online today, you only need to get on board and start building your own residual income streams.
2. Information marketing
Information marketing is the art of selling info products in the forms of eBooks, videos, audio, seminars etc. The key work here is selling solution laden products to people who need them. Man will continue to have problems in all facets of life. Hence, he will seek solutions to these problems. This is where the information marketer comes in, he sells the solution to people’s problems. By continuously churning out valuable products, the information marketer is able to build passive income on the internet.
You can build a continuous income source by becoming a blogger. Simply discussing about a popular topic has the potential of driving lots of traffic to the site, you can incorporate various sources of income to the site. As long as it is in an evergreen niche, people will keep visiting the content and the income streams will continue to generate passive revenue.
This stream of income avails you the opportunity to provide a solution driven product that your customers have been wanting to have. you will keep having consistent follow of income if you continuously keep providing appropriate products that will satisfy the needs of your customers.
5. Affiliate Marketing
Affiliate marketing is an income sharing partnership between a merchant and an affiliate marketer. In this type of business, the affiliate marketer agrees to promote or sell the merchants products and a certain percentage is paid to the affiliate marketer in the form of commission. You can build residual income with affiliate marketing by promoting products that pays commission on a recurrent basis. There are so many affiliate networks around where you can easily find the right products to promote.