Steps To Home Business Solutions for Earning a Residual Income

Written By Steps To Faculty Published May 25th, 2010

Starting a home business is a huge step. Maybe you want to earn an extra income, extra spending money, or begin supporting your entire family with a home business. Either way, there are many home business solutions to choose from, and also many different ways to make money online.

Step 1 Earning a Residual Income with Home Business Solutions

One way to build wealth from home is to begin building a residual income from one or more home business sources. A residual income is money you earn on a continual basis just from one customer or one sale. The more customers you obtain, the more ongoing income you’ll have each month.

For example, you sign up with an online educational company that offers ongoing training. Students who sign on with this company pay a monthly fee. You earn a residual income each time the fees are paid for each student you sign up. The educational company receives new students, and you receive ongoing commissions. It’s a win-win situation for both!

Another example of a residual income is when you sell Internet-related services that require a monthly or yearly payment, such as web hosting, domain name registration, Internet marketing services or custom web design services. These are only a few examples, but the Internet offers many “work from home” opportunities such as these where you can earn money month after month, year after year.

Step 2 Finding the Right Home Business Solution

Now that you realize the potential of earning a residual income, it’s time to find the right home business solution for you. Consider the amount of time, effort and money you’ll be able to invest in your new home business. How much time can you dedicate to work from home? Do you work a full-time job right now? Are you on a very tight budget?

A home business will not build itself, but there are companies that will help you build your home business and even provide a website with all the resources you need. Some will even “make the sale” for you. The only drawback is that many of these home business solutions require a monetary investment. So, be sure it’s the right business for you before investing.

Step 3 Use Web Resources for Research

Thankfully, you have a wealth of information at your fingertips with the Internet. You can take your time and research “work from home” opportunities right from your own home any time of the day.

Find a reputable home business directory to search out profitable “work from home” solutions. There are directory websites that take special time and care to list only legitimate home business solutions so you won’t have to sift through the good and the bad, and take unnecessary risks. Using a dependable directory will protect you from scams and keep your investment safe.

Warning: You should never sign on with a company and invest your money unless you’ve checked out the company and its background and history thoroughly. Be sure that you are dealing with a well-established company beforehand.

Step 4 More Ideas for Earning a Residual Income

Here are some other possible home business solutions for earning a residual income. Choose a home business that you’ll enjoy, and don’t be afraid to try several at once. You might be surprised at the type of businesses that are successful online!

* MLM business.
* Internet marketing groups.
* Niche business start-ups.
* Working mom groups.
* Providing clerical services for others.
* Freelancing (writers, web designers, programmers, graphic designers, and so forth).
* Selling e-books on a variety of subjects.

Once you select one or a few of these ideas, evaluate the potential and your ability to achieve each one. Determine if these will fit in with your time and budget. Find others in the same fields and ask for pointers on getting started. Other successful business owners are usually very happy to help. Also, research through the search engines to find out how much income others are earning with the same or similar businesses. Once you’ve done research, it’s time to get started.

There are many opportunities for the stay-home mom or the dad who would like to be home with the family too! The home business solutions listed above can be applied to a variety of skills and talents you may possess. Unlock your earning potential today!


Roger Due

Investing in Your Destiny® & Coaching Program - Wealth Building Summit Dallas, Texas

My name is Roger Due and I am from Albuquerque, New Mexico and I am the owner of the Monsano software company. This has been an absolutely fantastic conference. This is the best I have ever been to.