Why do people work? Sure, we can all reason out that some people work for self-satisfaction. Some people might say that they work in order to improve the world. But in the end, it all comes down to income. Other reasons can only be faced once the need for income has been fulfilled.
You should know however, that there are two types of income: Linear income and residual income. Linear income is the type of income that most people are acquainted with. It is the income that stops once you stop working. Residual income, however, continues long after the work is done. So what are residual income streams?
Well, as said before, residual income is the type of income that keeps coming long after the work is done. An example of this is the royalties that an author receives from the sales of a novel. As long as the book is selling, the author will receive income from it. This happens long after the book has been written.
There are many disadvantages to this type of residual income, however. That is the reason why not many people earn it. First of all, you need talent. Not all people have the skills required to write a bestseller. Not many people have the capacity to produce a hit song. However, by building a residual income stream, you will be able to have a residual income even without extraordinary talent.
All you need to build a residual income stream is the proper training and the rest can already be found around you. A residual income stream only requires you to make use of your existing resources and tap the potential income. Using the training that other people will give you, you would be able to maximize your resources and actually use what you have in order to build your dream.
A residual income stream does not depend on how good you are. A residual income stream only needs you to have the will. And who wouldn’t have the will to earn income, right?
Another thing about residual income is the fact that it can be stagnant in its figures. Sure, a best seller can reach a peak in sales, but after that peak, it can plateau. After it reaches the point in the graph where the sales are flat lined, the only way to go would be down.
Residual income streams, on the other hand, utilize your network in order to give you the potential for unlimited and exponentially increasing income. The increase in your residual income stream might be limited only by the number of people there are in the world. Have you ever heard the theory that people are connected to every other person in the world by six degrees of separation? This means that you are six degrees away from getting the whole world to supply your income.
You see, a residual income stream is called thus because a stream increases in size and ferocity as it goes on. A stream turns into a river and the river goes into the sea, which then transforms into the roaring ocean. That’s the potential of a residual income stream.
The best thing about a residual income stream lies in the fact that you do not need to do any work in order to keep it flowing. Once you start the flow, human nature will direct the course of your income.
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