Multiple Streams of Residual Income - 4 Ways to do it

Creating Multiple Streams of Residual Income is one of the best ways to protect yourself against failure when making money online. You can take comfort in the fact that you are not relying on one business or one website as your total source of income.

Here are a few ideas for creating multiple streams of residual income.

1. Two-Tier Affiliate Programs: With these types of programs as well as earning a commission for selling a product you will also earn a proportion of the commissions of the sales made by affiliates that you recruit.

If you enjoy networking with people two-tier affiliate marketing is a great way to create a residual income. You get paid to teach people what you are already doing successfully. You can then earn a recurring income whenever one of your affiliate marketers makes a sale.

To focus on residual income, look at affiliate programs that pay every month for just one sale. Examples of these are membership sites and web hosting.

2. Network Marketing: Join a network marketing company and get paid on the efforts of others. Creating multiple streams of residual income is a lot simpler to do in MLM than it has ever been in the past.

It is possible for you to build a multi level marketing (MLM) business without ever leaving the house. Creating a residual income in network marketing happens when you use the power of duplication and build a large network of distributors buying and selling products underneath you.

Again, if you focus on monthly subscription based products and services this will help to increase the residual part of your income.

3. Niche Affiliate Marketing: This is an excellent way to develop a residual income. You do this by creating multiple websites or blogs in different targeted niches.

You then monetize these sites with products that you earn commissions selling. A simple way of doing this is to join affiliate programs and get paid for selling other peoples' products without having to worry about inventory or payment processing.

Creating a residual income stream happens when you start to make money from your websites even when you are not actually actively marketing them.

4. Create your own Products: An example of this is writing EBooks (or getting them ghostwritten) and selling them on Clickbank.com. This is a very good way to continue to make money over and over for doing your work one time.

It is very easy to set up an affiliate program on Clickbank and they handle all the administration such as payment processing and paying affiliates. And they offer you thousands of affiliates to promote your products for you.

If you are just getting started online don't try to do everything at once. Setting up multiple streams of residual income is a good plan, but start with one stream at a time, make it work and then go on to develop another stream.