Building Residual Income Online Or Off - Avoid the Scams and Focus Your Attention on What Works!

Building Residual Income Online Or Off - Avoid the Scams and Focus Your Attention on What Works!

Let's face it, if you're Googling "building residual income" online, you're going to come up with a TON of crappy articles pitching you on a get rich quick scheme based on hype, dreams and misdirection.

Frankly, I have been a victim of well-marketed and poorly delivered get-rich-quick programs more times than I'd care to admit and I'm sick of it.

That's why I decided to pull the covers aside and reveal the true "secrets" to building residual income in a way that's legit.

Can You Really Make Money Quickly?

I was originally going to write, "No, don't fall for GRQ schemes" in response to this question. But the more I thought about it, and some of the many successful people I've had the opportunity to work with, I realized that the true answer is YES!

Yes, it's true that you can make money quickly, and there are a lot of people who certainly have. In fact, my business partner Kelly made her first million in real estate over the course of about 2 years. After the real estate "bubble" faded, Kelly made her second fortune in MLM - Network Marketing - and after 3 years in the business had built her residual income up to $650,000/year. My friend Byron built up his Pay Per Click Internet Marketing business to NET him about $1,000 a day in the course of six months. I know some real estate gurus who make several million a year selling their information products.

How do they do it? What do these people have in common? Have they succeeded in building residual income for life?

Here are the common traits amongst those who have succeeded in building residual income:

1) They invested in their education. In order to build a "passive" residual income quickly, you can't start from scratch and take the time to figure everything out yourself. You have to jump-start your success by following a mentor. For example, Kelly spent over $30,000 on educational products and coaching her first year in business. Byron bought all the PPC courses out there, and lost money for his first several months in business, testing the strategies he was learning to implement until he discovered what worked.

2) All it takes is one - Know you numbers. As you get started building your business, you will find yourself implementing a lot of strategies, talking to a lot of people, and facing a lot of discouragement and rejection. It's no fun. But, it can be effective.

Your goal is to weed out the "losers" or "time wasters" as quickly as possible so you can focus your time and energy on strategies and people that are going to help you get the results you want in building residual income. In our MLM and PPC examples, I can tell you that over half of Kelly's business is being driven by one great person in her downline. In Byron's pay per click internet marketing business, he tested thousands of keywords combined with different offers and products to find the winning combinations.

3) They stayed committed. One of the biggest challenges you will face as a business builder in the information age is being attracted to more opportunities for building residual income than you have time and resources to implement. Taking a business from zero to 60 so that it actually delivers the passive income streams you're looking for takes a lot of time and energy. Really FOCUS on what needs to be done each day so that you are moving your business forward, not mindlessly surfing the internet or "reading" about your business, rather than doing it. Find a mentor, find a plan, and implement it. Don't stop til you see the results you're looking for or decide (quickly) that it's not the plan that you want to be following.

When it comes to building residual income, there are lots of businesses and investments that can help you achieve your goals. But, as I mentioned before, they take time and money to implement. Be selective in choosing a business model and strategy that you will ENJOY implementing so that you can stay committed and focused to building wealth in that particular area.

From franchise business opportunities, starting your own personal service business like dog walking or house cleaning, from the hype-hype world of internet marketing, to commercial real estate investing there are plenty of strategies to choose from. Find out which one is right for you, then stick with it like a dog on a bone.

This is the best way to ensure that you will be effective in reaching your goal of building residual income streams quickly and enjoyably.

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