Residual Income for Morons by Dave Penman - HTML preview

Residual income, or passive income is defined as an income received on a regular basis, with little to no effort required to maintain it. It is closely related to the concept of "unearned income." Of course (especially when compared to your typical 9-5 job), this form of income would be appealing to anyone looking for an effortless, permanent way to have cash royalties enter their bank account on auto-pilot. But obviously everyone would try to earn a residual income if it were so easy, so is it hard?

  Well anything done using improper steps can seem challenging and produce improper results. The goal of this book is to better help you outline the necessary steps to landing a residual income through different venues.

  Everyone wants to retire, and everyone uses their own means to reach their retirement goals. Some achieve it easier than others. Here’s the secret to success. First off PATIENCE. You’ll see passive income develop, but allow time to see it grow.

MOST importantly, like John D. Rockefeller states, “I would rather earn 1% off a 100 people's efforts than 100% of my own efforts.”

  Whether it’s selling, writing, website building, traffic building, shipping, payment handling, or anything else that is stopping you, this book will give you the information on how to start making residual money online.

  Going back to what I stated before, residual income comes easy (with little to no effort) AFTER the real work is done. Don’t let the word “work” intimidate you, it’s more of a process (or system) that once completed, and done properly, you won’t have to touch or alter again.

Let’s discuss some of the cheapest, easiest genres and venues many have succeeded in, as well as what many (including myself), are using to generate traffic (people) to their chosen genre(s) and how to create a site to house your products, ads, or links. In all genres, you can get someone else to do the work for you, no one needs to be a professional, and there’s not always the need for investment to achieve auto-piolet/no effort commissions or royalties. All recommendations within this content contain no malware, viruses, or any other harmful spyware.

Successful Genres with Residual Income Earners:

• Drop-shipping
• Writing
• Affiliate Marketing
• Web-site Building/Ad Space

What is “Drop-shipping?

Drop-shipping, defined by Wiki is a supply chain management technique in which the retailer does not keep goods in stock but instead transfers customer orders and shipment details to either the manufacturer, another retailer, or a wholesaler, who then ships the goods directly to the customer.

  This is especially appealing to those who do not want to handle any of the “dirty” “hands on” work. In the form of links, you can post certain items for sale on your website, blog, eBook (instantly electronically delivered content), etc., and receive commissions from it (we’ll discuss the ease of website/blog building). You hold no inventory, and mail no inventory, you very simply receive commissions just for having advertised it.

You can even add affiliate links (more on that later also), and sell ad space on your drop-shipping site.

Drop shipping sites that are producing great results and contain great product variety are:

Shopify

Inventorysource

Wholesale2b

Dropship-business

“Writing? I’m No Charles Dickens!”

There’s been a lot of talk about how eBooks, Blogs, and just the sheer internet might end the existence of the need for books. This somewhat farfetched saying, stems from the exponentially growing popularity of E-readers (book downloading tablets), and other means of getting information.

  How can this possibly be a plausible route for gaining residual passive income? Well that’s because of the many chances you have to insert your affiliate’s information. You could also write about something you’re passionate about or have knowledge of (you don’t always have to write content yourself, although it is an advantage for those able to do so). Any rookie can cut and paste an affiliate link (a “code” you cut and paste in your content that affiliates you to the sale) into some else’s blog/website and it’s actually a great way to start if you haven’t created any webpages yourself, just make sure the affiliate’s product pertains to the subject matter of the text. When you get familiar with how others write blogs, you can write your own and embed your affiliate links the same you would with a website. Sites that offer website builders will typically offer blog builders as well.

For help with producing a blog, try these (webpage builders):

Sitebuilder* #1 recommendation!

Greengeeks

Ewisoft

Godaddy

  There’s been allot of success with giving away your writings for free. If you have a book with an affiliate link, you are more likely to attract more readers at a free to low cost price point. You might even have more success with free literature containing your links than you would with selling at a price because you can drive the free traffic to your affiliates.

There are infinite websites that allow you to post/advertise a free eBook at no cost, make a day of it, post your free content to as many sites as you can. The more locations your content is placed, the more chances you have at being seen and giving your affiliates the same flow of traffic.

Not an efficient writer? It’s ok, there are incredibly inexpensive ways to have the writing done for you. Most call this “ghost writing,” and you’ll retain all the rights to label it as your own work, publish, and sell it. This is useful for those who decide to publish their content FOR SALE without links (some venues don’t allow links inside eBooks), therefore the material would have to be captivating or useful to an audience.

I use this for my “ghost writing” (and pretty much anything else) and they receive great feedback and results:

Fiverr

Fourerr

Fiverup

Gigbucks

^Simply search Writing, Ghost writing, or eBook writing. You can compare reviews, and keep in mind, highly reviewed writers will know how to edit and format everything properly. Some members even offer fully finished public domain eBooks you can resell.

Also, there is no need to worry about illustrating your writings with your own pictures. Searching pictures with licenses under public domain, labeled for reuse, and free to share and commercialize (different search engines use different labels), you can use any images that come up in your search for pictures related to the literature.

If you do not want to hire a ghost writer, you could even sell public domain literature. Simply research your country’s copyright laws and whatever literature has an expired copyright, you can cut and paste away, right into your word processor. Also try searching for books or eBooks with Master Resell Rights (MRR), or Public Resale Rights (PRR), which are works that allow you to claim yourself as the rightful publisher. You can change the font style and size and add some “public domain,” “free to use commercially”, or “labeled for reuse” pictures that correlate with the literature. It’s really that simple. Once you post your eBook for sale, you have the potential to make residual sales.

Click Here for an Example Copy of Public Domain Work

^The time it can take to set up a book like this can be as little as 30 minutes!

The most reputable eBook stores are:

Kindle Direct Publishing (KDP)

Barnes and Noble

EBay

^KDP is an Amazon service. It’s an easy step by step process that can pay you right to your bank account. Once you post your book, they handle the rest. You can even list all of your books with an Amazon Author Central page so you can advertise all of your created content simultaneously using a simple link. Have written content (without links)? Even if it’s just a PDF, you can convert it into a paperback book on Create Space and they’ll sell it on Amazon for you, you hold no inventory and do no shipping, some of the many different promotional tools available.

It can be difficult to write material on your site, eBook, blog etc., that is captivating and intriguing.

I’ve gained a lot of tricks and tips just after reading this book:

Click Here for a Book that Helped Me Sell More! You Can Also Sell Your Book on This Same Site!

^This book holds good advice if you want to tackle writing content on your own. It highlights: the pros and cons of Kindle books, attracting millions of readers online, promoting on Facebook, Twitter and blogs, and more.

Learn from websites (Facebook, Twitter, YouTube, Amazon etc.) that gained traffic through great SEO (search engine optimization) and marketing/advertising. After setting up the site, and gaining popularity, the subscribers naturally log on and the site owner gains passive income (residually) primarily through ads. Companies flock in by the thousands requesting or even sometimes bidding to have their ad placed and seen by potential customers. How do you get to that success level? Well first try to mimic those companies advertising strategies.

Let’s discuss affiliate marketing, simplified.

Defined by Wiki, Affiliate marketing is a type of performance-based marketing in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate's own marketing efforts.

Ok, so about these “Links” that have been mentioned. How do they work? Well once you get others to simply view your website, eBook, Blog (whichever you decide to use), you can send traffic to other sites in the form of Affiliate Links that those sites will then pay you for the traffic that drives the sale. Once someone clicks on your link, both you and the customer’s MAC addresses will automatically be associated to the sale, proving that you provided the traffic necessary to sell it.

You can add Affiliate Links to your site or content using these resources:

Infolinks

Shareasale

CJAffiliate

AmazonAssoc.

  With easy to read charts/graphs, you track your affiliate progress and monitor which affiliates sell the most or get the most views, (very useful if you have a large variety of affiliates, and you can also gauge how much traffic your site or content is receiving by implementing this method) try this tool:

Start by Clicking Here for Tapfiliate

The truth is, you can search any website you want, scroll down to the bottom of the screen, and see if there’s an affiliates icon. If there is, simply apply, advertise the site with their linking code, and make commissions off of the traffic. Apply away!

How can someone with no web-site building experience develop a web-site?

No Web-site? No problem! Believe it or not, creating a web-site is easier than ever to do, you literally just choose what designs and words to display, and let’s be honest, you’ll need somewhere to post all of your affiliates, ads, content, drop-shippers or products (I recommend implementing all strategies). Amazingly, what people once paid greatly for can be done with simple online software and look just as professional in comparison to any high budget web-site. After creating a site, you’ll be well on your way to adding links and other company’s ads that could potentially make you money with the affiliates you choose! No technology experience required.

For the best web-site building help I’ve found (same as blog building software), and many others use and trust, try:

Sitebuilder* #1 recommendation!

Greengeeks

Ewisoft

Godaddy

Build an Email List!

Wiki describes this as an electronic mailing list, or electronic email list, it is a special use of email that allows for widespread distribution of information to many Internet users. As you build up your list you can constantly monetize it through pitching various products (affiliates). Emailing offers to a large list of subscribers on a regular basis is how the most successful e-commerce sites get people to continually buy more products from them. Even if you are not selling products, you can still gather email addresses to direct repeat traffic back to your site/blog, you can do so by offering useful or educational content on a specific niche. With a large subscription list, and numerous niches, eventually someone will find an interest. There is always power in numbers. Be careful not to bombard your subscribers with too many emails, they could get frustrated, and they do have the option to un-subscribe.

Trusted E-mail list building sites:

Aweber

Getresponse

Mailchimp

How do I get traffic to my site?

There are many great ways to advertise your website or product. YouTube allows ads, so does Facebook. Some ads can be placed very cheaply and they can even help better target your audience by pin-pointing your item’s genre through recommendation, thus increasing the chance of striking an interest. For example, if you are selling journals, advertisers might also display your ad to people searching for “writing”, “diaries”, or “notebook” keywords). Some companies don’t even charge you unless someone actually opens your ad, which is relieving knowing it’s less of a gamble.

Many also advertise using these sites, (which are the same writing gig sites mentioned earlier) where you can find new avenues that sometimes haven’t been used before. You can message real people who charge very low prices in exchange for advertising on their successful high traffic websites, blogs, Facebooks, and other social medias that also hold large subscriber lists. You can see individual reviews/feedback:

Fiverr

Fourerr

Fiverup

Gigbucks

^Search for advertising, or marketing gigs within these sites, and choose the gig that is “featured” or most highly rated. I’ve also found individuals on these sites that will even post positive reviews or give positive feedback on your sites, products, or content, leading to more exposure.

For other great advertising companies that will get you seen online, these are viable options…

Adwords

BingAds

Admonster

Adsense

^Post your ads on multiple sites, or post other’s ads on your own site. Be careful not to click on your own ads, as this could potentially get your account terminated (Google has strict policies).

Once you gain traffic to your website or blog, you become more valuable to advertisers that want to pay you for a spot on your busy webpages or blogs. Try to utilize each Drop-shipping, Affiliate Marketing, Content Writing, and Advertising genre for a better chance at a higher residual income stream.

What to avoid when searching for work online-

Words like these:

“Get rich quick”

“Guru”

Data processing

Data entry

Surveys

“Quit your job”

“Fire your boss”

Overly highlighted words

Pictures like these:

These are nothing more than visually misleading “Attraction Marketing” tactics that are designed to give you a false sense of financial success.

Always read earning disclaimers.

Avoid those that read similar to this:

“There is no guarantee to claims of what you will actually make. In some cases, actors and actresses have been used to portray product reviews. The largest earners shown using this system are based on RARE scenarios and all income levels vary with using this system.”

Patience is your best advocate, repeat the process so your income can gradually grow. After time you’ll see something more sustainable through quantity of advertisements/products, and growing experience in this field. Good luck! -Dave Penman