Residual Income is the true key to unlimited wealth and financial freedom. It gives anyone the potential to make money without working, which is the only way real freedom can be established. And it is great for building wealth too. Financially free people know that earning money from a single source is not the way to amass a fortune, and therefore they use passive income streams to create multiple sources of income. When your income is automated, you can keep building it up without getting lost in a ton of work and obligation. And there are tons of opportunities all around for creating recurring cash flow sources, some of which are easy, fun, and very inexpensive or even free to begin.
After years of interest with various income streams, I have had experience with a number of various income streams. I have owned vending machines and offline businesses, but now I do all of my income generating with online business and internet marketing. The internet is a perfect way to connect with people worldwide and develop streams of income that work for you around the clock. In fact, you can create a whole assortment of income streams all from one effective money generating source…. your own money making website! It is simple these days for anyone, even without any experience, to create an informational website that generates income around the clock.
We all know something about something. We all have experience, expertise, knowledge, and information to share about something. Why not turn that knowledge into passive income streams? That is what an informational website does, uses your knowledge to generate profits. Content rich websites have an easy time generating traffic from the search engines. This coupled with some other website promotion strategies, and your website can be crawling with web visitors. Once the visitors come, so does the money.
Monetizing an information website so that the website hits is converted to Passive Cash Flow is simple and can be done in many ways. That’s what I love most about my websites. One website can simultaneously earn money from many sources, which makes them perfect cash machines. You can monetize your traffic simply by adding Google AdSense ads and affiliate products, or you can make use of a number of additional methods like list building, selling your own products, network marking, selling advertising “real estate,” etc. The goal is to turn as many of your visitors into profits, so using a variety of methods works well for most information rich websites.
In the end it all comes down to website hits. The more of it you have, the more profits your website will earn. If you learn some simple SEO techniques you will be able to generate free web site traffic from major search engines. This is always a good idea and can give you a great traffic base. I like to drive additional hits to my websites with article marketing, social networking, and link building. Once you learn how to successfully use a variety of online advertising methods, you will have a lot of fun building website hits and big Passive Cash Flow.