Residual Income Opportunity Blog

As people interested in earning residual income you need to get into certain habits as I’ve said many times and then start following them through. As the year winds down, for many of us it’s time for a bit of reflection on the past year. If your goal from 2008 was to make more passive income online or offline then where are you at in your goal? If you’re like many people you aren’t exactly at the exact level of financial success that you’d like to be. Well today let’s talk about one thing you should do for 2009 and beyond – set income and attainable wealth goals that you want to reach.

You see one of the reasons that many people aren’t able to achieve the passive income level that they’d like to is because they don’t have a clear idea of what it is they are going after and then the time frame that they would like to achieve that goal within.

What I’d like to recommend today is that you set a 6month, 1 year, 2 year, and then 5 year residual income figure that you’d like to be hitting by those set dates. The reason it’s great to start the process of writing down these goals is just for the fact that the numbers you write down will start to take meaning and shape. They will be figures that you feel some pressure to work towards – and hopefully you will.

Set reasonable goals financial success goals that you can envision yourself hitting. Go big but don’t be too crazy. For example if your goal is to earn income online and you aren’t yet making any money you might want to be a bit conservative starting out.

Your figures also may differ if you are already on a path and earning some income of if you are completely starting from scratch and you have no idea which direction you are heading in. In the case that you are already earning money then you might understand the steps you need to take to hit your residual income goals. In the case of starting from scratch you’ll have to factor some learning time into the equation and understand it will take some time before you start seeing the results you want.

The bottom line is when embarking on this financial success path make sure that you are writing down the numbers that you want to hit. If you are already doing this then great, if not then start by setting a figure for June 2009 and go from there. Good luck and start writing your desired wealth figures down!

If you want to build residual income into your lifestyle then don’t go about it blindly. You’re going to want to study, research, and spend some time on learning all about the various opportunities, and businesses models out there, and find out what people are actually making cash from.

You see the problem is that most people when it comes to decisions regarding things like investing in stocks, starting a new website business, or buying real estate are just making their decisions based on what they have heard. What I want you to think about today is when you hear this information consider it carefully and don’t just adopt that opinion until you know it to be true.

In my case I have experience in earning residual income online so let me talk about that for a minute here. Some of the things I’ve heard floating around online are, “You can’t make money from Adsense”, “Build a site with great content and the traffic will flow in”, “Buy a pre-built site in an expensive niche and you’ll make a killing”. For some people the preceding statements have been true but for others not at all.

Let’s take one example. Recently lot of “web gurus” say “buy websites that have traffic and are already live and you’ll make lots of income”. Therefore lots of new online business entrepreneurs have been buying websites at places like www.sitepoint.com and also www.ebay.com . Now if you do not know what you are looking for and what is actually a good money making opportunity then you will be wasting a lot of money and time.

On the other hand if your goal is to earn residual income off a website and you know exactly which sites up for sale have the potential to do that you can sometimes find some great deals.

Let me give you an example. I recently saw a website that I passed on (due to the price tag - $1200). It was ranking on the second page of Google for a keyword and making about 6$ a day from Google Adsense. Now I analyzed this website and potential traffic and I know that if I bought it I would be able to have taken it to the first page with some simple SEO strategies. The owner of that site had done a great job to get it to the second page but wasn’t too SEO savvy. If I bought it and took it to the first page it probably would have started making well over $10 a day within a month or two.

That is just one example of making sure that if you are serious and want to be building residual income and invest in good quality investments that will actually put money back in your pocket then you need to understand and learn about what it is you want to invest in so you can spot a good opportunity before you buy.

Making money with Adsense is a great online residual income opportunity. Especially for anyone interested in making some money off a website that they are running that gets some steady traffic. You see the problem is that most people actually don’t understand how to properly build an Adsense website that will trigger the correct advertisements and that’s what I’d like to talk to you briefly about today.

As I’ve discussed before in some of my other posts on earning online income with Adsense is that doing well is all about selecting the correct keywords to work and also how to use them throughout your website properly. What I want to talk to you about today is how you should be using them in the titles of your post. If you stick to this rule as you work on your blog you’ll start to notice that your website will be triggering the correct advertisements.

So let me give you a little example here. If your website is all about stock investing then what you’re going to want to do is take that list and make sure that all the posts you write are using keywords from that list.

So for example if one of your keywords is “Making Money with Stocks” your article or post on your Adsense website would be something like this “Making Money with Stocks on the Internet”. This should trigger the correct Adsense advertisements that you are looking for.

The mistake that most bloggers or webmasters make when trying to build residual income online with Adsense is they don’t use their keywords in their title or much in their text for that matter. Remember this, Google is a computer and the way it understand what ads to trigger on your website is through certain elements and having keywords in the titles of your posts is one of them!

If you want to start a business and are looking for passive investment income then you might want to try and go about it with the help of others. You see, many of the things we talk about on this blog related to getting into and starting your first residual income business opportunity may take a bit of cash to get going. That could include hiring a coach, putting a down payment on a business or piece of real estate, whatever. The truth is you may need some cash flow to get into this game.

If you don’t have the income needed to start right away this doesn’t mean that you should just sit around and wait. You need to be creative and think of ways to go about getting it. This could mean borrowing the income from others or earning it yourself and then investing it into you new business opportunities.

The only problem is that earning it yourself can sometimes take lots of time before you are able to get together enough money to get any residual income business idea going. Let’s take for example real estate – if you want to buy a place, then you’re obviously going to need a pretty big down payment in order to secure the purchase. Don’t let that initial cash slow you down think about friends, family members, relatives, business associates, or whoever might be interested in building up a money stream together with you.

Let me be clear now that this form of raising capital may not be that easy but it is doable. You will soon see that after you start studying more about the importance of learning all about money and how to make it your talk will become contagious to others around you. If you know what you are actually talking about and have valid ideas of how you will put what you know into an action plan then people will become interested an actually take you seriously.

Use your mind and try to come up with business opportunities to present to others that are already generating a good income. If you show to them that you are knowledgeable in this area and you have valid residual income business ideas to pursue there is a good chance that they may be able to or interested in getting involved in with you.

I would say that if you have no experience in creating passive income streams then you might need a bit of time before you can expect to gather money from others. For now just study this subject thoroughly and start applying some ideas that you have studied about. I would say online is the best place to start just because it takes time and knowledge but not much money before you can set up an income stream.

If you are truly serious about building residual income whether it be through an online model, real estate, investing, or anything else I truly recommend that you find a qualified coach to work with. Coaches can sometimes be a bit expensive if they are skilled but in order to reach your goals of earning passive investment income in a shorter time periods a good coach might be the answer that you are looking for.

So why do I need a coach to learn about all of this when I can read about them and find information for free all over the internet? Well to some extent that is true and I also agree that using the internet to learn more about how to build residual income into your life is a great idea but if you work with a coach that knows what he is doing he will cut your learning time down tremendously and give you the confidence and motivation that you need to keep going on this path.

Where do I find a coach to teach me about residual income opportunities and how to capitalize on them? Well you start off by contacting authors of books you like, friends of yours that are already earning passive incomes, or the method that has worked well for me is you contact people that you find out about online that you know for a fact are making streams of cash through what they do. If you do decide to find your coach online the key is not to rush into choosing him or her. There are many people out there who claim to be coaches but honestly they won’t be able to teach you much about earning income online or anything else for that matter so be careful and take your time!

How much do coaches cost once I find a good one? Well the truth is a proper coach will run you anywhere from fifty to five hundred dollars per hour. I wouldn’t recommend spending more then $200 per hour when you’re just starting out learning about residual income business opportunities because it might take you some time to wrap your head around all the concepts and the price tag can go up pretty quickly if you know what I mean.

So you may or may not want to take my advice about getting yourself a coach to learn more about the whole residual income business game but I can tell you that once you find a good one if you have chance to work with them for a reasonable price then I would. It will cut your learning time in half and hopefully they will assist you on your way to building online residual income in no time!

If you want to build up a passive residual income then you are going to have to re-wire the way you think about income in general. Basically there is a difference between rich and poor people in many different ways. I’m not saying this to put poor people down I’m just saying that the way the two think about income and financial matters is usually a lot different. In order to build up a successful residual income business then what you’re going to need to start doing is trying to think a bit more like rich people.

What I want to talk about is a concept that I studied a bit from T. Harv Eker. He speaks about the comfort zone and levels of conformability between the rich and the poor mindset. You see rich people don’t mind working really hard and making some sacrifices in order to reach their goals.

I can say that in my case I am definitely not rich yet, but making money is one of my main goals for the next few years and I I have changed my lifestyle and am doing some uncomfortable actions. I wake up everyday at 7am and start working by 8am at the latest. Yes even on weekends I do this. I also don’t go out all the time and eat and drink with friends. Of course I want to but you know what I know that in order to actually create passive income I need to do this for a while and just focus.

A person with the poor mind state or thinking will always think about relaxing and being comfortable first and foremost. So that means that when they finish their job for the day they go home, to a bar, or restaurant and just start unwinding until the next day comes. This is fine and you deserve to take it easy after a hard days work but if you really want a chance to succeed and reach your financial goals then you need to change this pattern of thinking.

So if you take anything from this article I want you to know that while you are on your journey of creating residual income that you probably will need to make some personal sacrifices. This could mean giving up a bit of your social life, not sleeping in much, and working a few hours when you get home from your day job. But think of the alternatives for a moment. If you love your current life and financial situation than relaxing and chilling out is great. But if you really want to take control of your life and build a truly residual income then it’s time to tie up your boots and jump in full throttle – once you’re into it it’s really not that bad, trust me!

Today I want to talk to you about building residual income businesses in the sense of time and how long it will take. I know you have read it all over the Internet and probably in other passive income books that you can make $10, 000 a week from a beach in Tahiti. Well it is true once your income stream is set up and successful but for many people to get to that stage it takes hard work, determination, and yes lots of time. There is no such thing as instant cash so get that out of your head right now!

If you are truly serious about earning money through residual and passive income streams whether it be online, through real estate, stocks, or whatever decide right from the beginning that you will give it some time and effort and not give up until you are actually earning income.

Too many people out there think that all they need to do is buy one or two books or courses and within weeks they will have a residual income online or through some other source flowing into their bank account and pockets like water. If it was that easy and people could make instant cash don’t you think everyone would be doing it? You need to really consider that question before you get into the residual income game. It’s going to take time and effort but in the long run it will pay off!