Chapter 9: Setting Up Streams of Residual Income

If you can monetize something once, you can monetize it again and again.

This is a very important truth, and it is more important on the Internet where it is really very much possible to make money out of something several times over.

The concept of residual money is at the root of this. First, let us see what residual money is. Residual money is money that keeps coming for something you did once. Authors who get royalties from their novels are earning residual income. They worked on the novel once and then they keep earning royalties out of its sales practically for their entire lif

You could do things the same way on the Internet. It is quite possible for you to have an eBook written, for example, and promote it on various places of the Internet. This eBook could be about something you wish to monetize, like your knowledge of how to play a six-string guitar the right way. You could write authoritatively and then promote this on your blog and on other affiliate sites. Soon enough, people will start downloading the eBook for payment, and as the stream of viral marketing begins to kick in, you will start getting more money generated for your purposes too.

Every blog that is made, every website that is created, every article that is written becomes a stream of residual monetization on the Internet. These are your footprints in the virtual world and you can just dig into these and keep earning money. You must have heard of Internet marketers becoming multimillionaires. Well, they didn’t do so by putting in laborious efforts for everything, all the time. The way they did this is by monetizing their knowledge and expertise. Their efforts were onetime, their marketing efforts were considerable and that kept the ball rolling.

So, you must go out and spread yourself as much on the Internet as possible. Get acquainted with the concept of affiliate marketing and link exchange. This is how you can spread yourself thin over a larger virtual surface. This is what will make more eyes attracted to what it is that you are trying to sell and bring you a constant stream of money that you will be proud of.

Summary

Monetization should never be a onetime affair. It needs to be a consistent effort, which can keep bringing in the money.

Important Reminders:

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