How to set up your online business to build a residual income?

[tuna89]

Thanks for all the options provided, many of the above require a high level of determination as usual and consistency, you need a lot of advertisement accompanied with some cash as well. Creation of unique and great contents as well will aid enough traffic.

 

[Filicit]

Based on what I have learnt, a business would grow and expand when the right principles are being put in place and there is consistency in the business.

 

[Senator]

Setting up a business that is a residual business isn't going to be an easy task and would actually cis you couple of furtune tibgrt is running. If you're the type with a great mind and great amount of capital, you can make this happen quickly

 

[Good-Person]

There are so many people flocking towards Fiverr with the hopes of making money. However, most of the people who join that site end up getting disappointed when their gig is not selected by the customers in there. I think Blogging is also not that easy either. Earning money online is not as easy as many people believe it is.

 

[btaliat]

Residual money are generated from the online activity like posting different videos on YouTube. This will ensure making money even if the person is sleeping.

 

[Alexandoy]

Residual money are generated from the online activity like posting different videos on YouTube. This will ensure making money even if the person is sleeping.

The monetized YouTube channel is one good source of passive income. Even after months that you posted the last video the views have a lasting effect on your followers.

 

[Ezekiel]

It is not an easy task but I feel it will require plan,and there is nothing as interesting as that, having a platform where u do not need to work but just make money

 

[Oliver4smile]

When starting an online business, you must avoid too high expectations. After seeing someone who become successful in a particular online work, an individual may become suddenly interested in the same online business and expect to make high profits just like the person he/she saw. When expectations failed, you may become weak and eventually back out.

 

[Ceeny007]

Thank you for the points you've highlighted in details above,to add to that I suggest one starts out as a dropshipper, you don't need a shop or to even own the good

 

[Elfinito]

A very good write up, this would certainly help a lot of individual who wants to start some business, I too have learn some few things from this.
Thank you

 

[Kubiat-Abasi]

Wow! Believe me I had no slight knowledge of a lifetime earning factor of such. So Amazon actually offer royalties too? I'll give a try to blogging.

 

[Blessedsam60]

Oh friend. This is massive. Thanks for this post. This will actually helps in building an online business idea needed to flourish

 

[Justin]

Blogging and vlogging are on my list however, I am yet to try my hands on these areas because I do not have investment and skills. Well, you might say you do not need a lot of money to blog or vlog, but I do have to spend a lot on marketing

 

[HayKay]

You've made a very great point and that's where I hope to be in the next few years. Building a system or a business that can run on autopilot is the Mount Everest of online businesses.
Other businesses like affiliate marketing, information marketing can help you make money even if you're sleeping.

 

[kayode10]

The only online business I can recommend is to start publishing eBooks on Amazon Kindle publishing store. You are going to make more passive income if you have lots of titles in the store.

 

[Godspower]

Well said. In order to have residual income from online tasks, you have to be consistent in performing these tasks daily in order to accumulate revenue.

 

[Toyoabasi]

Residual income means you do something today so that it will continue to pay you for a long time. Residual income does not involve working every day to generate income, residual income means you earn money for a long time from your one-time work.

By posting on Bizdustry, you are earning good money. However, this is not a residual income. You have to post every day, frequently during the day, to earn from the site.

Your gig is hired by a client on Fiverr and you make money by offering your service. This is also not a residual income either.

What exactly is residual income then?

You create a youtube channel, publish good videos. The videos published today will continue to make money for you for 5, 10 years, or even longer. (provided your video is good and you get traffic)

You publish your blog, your blog will continue to make money for you for a long time (provided you are receiving search traffic).

Blogging and vlogging are just a few examples. You can try publishing books on Amazon, you will earn royalty for lifetime. You can also publish articles on the article sites that shares revenue with the publishers, for example, hubpages and medium. You can try crypto investment, etc.

If you want to do online business, consider doing a business that builds you residual income. Some of thee options you can try are, publishing apps on play/app store, building and selling software, etc.

You're right.
Residual business is that which allows you to keep earning without having to be there at all times.
Posting videos or good content on YouTube, selling of softwares are good ways to earn this type of income, whenever people download these, you earn automatically.

 

[Ezekiel]

Getting or creating an online business is not difficult at all,what you need to do is to create website,create a YouTube channels and get updated information to spread to people

 

[Nomad]

Your business can build you a residual income only when it grows very big. For a small business owner, business can hardly build residual income as the owners need to work really hard.

 

[joy101]

Setting up online business you need to create page so that you can get a lot of traffic, because online business is require personal decision because you need to do more work in order to get more customers.