Tuesday, February 11, 2014

Starting a Residual Income Stream

So, I am brand new to the idea of learning about Residual Income Streams, but I am going to start some and am very excited to share my experiences with you!
So what is a residual income stream? It is basically income that you get from doing work once... like royalties from a book or ads on a webpage. You write the book or put up the ad, and then wait for the money to come in. Another cool idea is doing affiliate programs... you link to someone's store and you get a percentage of the sales purchased through your link. These are not new ideas, but are still great ways to help break out of today's cycles of working for someone else and then coming home too tired to do anything for yourself to improve your situation.

Obviously different items will produce different levels of income. The size of your audience is also a huge factor (are you reaching 100 people or 100,000?), as is the quality (do they have money to spend on the topic, is the topic relevant to your audience?). Additionally, the more streams you have the more income... The idea is to play around and find out what works for you. Can you write a book? Do you have cool plans or brochures to put up for sale for a few bucks? Or maybe just doing ads or affiliate programs... Whatever it is you decide to do, I encourage you to start something new today to improve your situation. 

On this blog I am going to dedicate a page to awesome affiliates. All funds raised through this blog are dedicated to the MBMHC project. It may go towards other projects to generate funding or awareness, or directly towards building projects and items/livestock needed for the community.

Here are some great stores to check out...
Erica and Ernies
These folks are working on Rocket Mass Heaters. This is absolutely BRILLIANT work providing easy, sustainable, low-carbon heating options. Rocket Mass Heaters are the future of home heating. They will cut your energy bill, wood use, and carbon footprint.

http://www.scubbly.com/store/ernieanderica/?affid=8666  

Paul Wheaton's Permies 
Paul Wheaton is "The Duke of Permaculture." He is responsible for the world's largest permaculture site and for inspiring hundreds if not thousands of permie newbies, including myself. He has lots of informative podcasts. Check him out.

http://www.scubbly.com/store/permaculture/?affid=8666

You can also check out this discussion thread at my favorite website: www.permies.com (by Paul Wheaton) on residual income... And explore any of the many many topics there.

http://www.permies.com/t/16439/financial-strategy/building-residual-income-streams

Have a great day!
Tara

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