Referral Income and Residual Income - How to Build BothReferral Income and Residual Income - How to Build Both There are similarities and differences when we talk about referral and residual income. I am a real estate agent and I have seen both. Referral is really more specific to business than to pure income. When a real estate client of mine refers business to me, then I need to go out and "work" that business before I can get paid. The residual opportunity comes in because of the work I had done in the past that caused a customer to want to refer someone to me. So it's residual because some of the work was done in the past, and it's referral because the rest of the work, and subsequently the income, will follow (hopefully!). Pure residual income is where you perform work once, and it continues to pay you in the future without any more effort required. Finding a truly residual income opportunity is very difficult, but not in possible. Many online marketing programs, MLM opportunities, or network marketing, claim to be residual in nature. Insurance for that matter is very residual in nature. Of course the most powerful is a combination of the two. When you have people referring customers to your residual income opportunity then you have really hit a sweet spot. This is best achieved online with in various forms of marketing. For example, if I chose a product to market online, then I go through the work of setting up the site, and researching my target audience, before I launch. When I do launch my advertising all I have to do is set up the different advertising campaigns, and then let the content and search engines do the work. If you have a tremendous product or service, and a way to help people find them online, then you have the beginning of a very powerful referral and residual income opportunity. The trick will be finding a way to get the ball rolling in the sea of online marketing websites and search engines. The best way I have found so far is to partner with a great mentoring and direct marketing company, such as Your Net Biz. In my four years of online marketing, with real estate and other markets, I have discovered that you have to be willing to spend a little money before you can build a truly residual income. Where I made mistakes was to just jump in and start advertising thinking that I would somehow rise to the top. I could have saved a lot of time and energy if I would have just gone out and spent a little money on a mentor. I am doing that now in Your Net Biz and have seen more success and direction in a month, than I had in the past four years. Floyd Magee Your Net Biz Associate/ Top Mentor Trainer of Successful Internet Marketing Earners. Helping People Who Want to Learn What it Takes to Succeed Online. Contact Floyd to Start Making a Living on the Internet Today 970-729-0531 Article Source: http://EzineArticles.com/?expert=Floyd_E._Magee
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