Home
>
Wealth Building
>
Residual Income - The Myth

Residual Income - The Myth

"Join our program and retire in 3 months..." yeah, right.

We all want to get to a place where we have ongoing, hands-off income that continues without us having to work for it. These ads play into that desire by offering us the promise of "easy continuing income."

The reality is often far from the sales pitch.

The first step in developing an ongoing, residual income is to dispel some of the myths surrounding the sales hype.

Here are some of the most common myths about creating a residual, ongoing online income:

Myth One: Put up a Website and Sit Back and Collect the Checks.

Those of us who have run Internet businesses for a while can tell you: Making a good living on the Internet requires marketing, customer service and order fulfillment. Either you have to do it yourself or you need to hire someone to do it.

Either way, having a website and selling your own products is often far from the "laying around on the beach while collecting your checks" image.

Myth Two: MLM/Networking Income is Residual Income.

Almost always a part of the sales pitch in networking is "creating residual income." While that is *possible* with MLM, it is very difficult to maintain. Here's why...

MLM income is built on three basic factors: new purchases by retail customers, the recruiting of new *wholesale* customers and the ongoing purchases by both groups.

In order to have an ongoing "residual" income, you need to recruit, train and motivate a sufficient number of *leaders* who will then continue the process in growing numbers.

This is rarely the case.

Instead, top leaders have found it is easier to build a large list of MLM "junkies" who they then take into one program after another. If you stopped joining new programs, your income would also dwindle within a few months.

Myth Three: Just Build Your Business and Hire People to Run It for You.

This does work, but it is often more of a nightmare than a dream.

At various times I have had anywhere from 0 to 15 employees. I have had many friends and clients with much numbers up to 1,000 employees. We all have the same opinion: Unless you have enough employees and profits to hire top quality managers, employees are a constant headache.

If you DO build a big enough, profitable enough, business and if you have the right personality, then building your business and hiring people to run it is a great idea.

Myth Four: Developing A Residual Income is Easy.

I don't want you to fall for this one, either. Developing a residual income will take some perseverance. The steps to getting it done are not difficult, but it requires one thing many people will not put in--consistency. If a person does the right things, day after day, they will create an ongoing, growing income. If they try today, then one day next week, then one day a month later, they are unlikely to ever get there.

Developing a residual, on-going, hands-free income is worth the effort. Avoid trusting in these four fantasies, get ready to work and you can have a supplemental income in no time at all. Keep it up long enough and you can eventually retire.

Kevin Bidwell owns http://www.all-in-one-business.com and has just released a new report on creating a residual income. You can claim your copy here - http://www.all-in-one-business.com

disinfecting cleaning services Arlington Heights ..

In The News:

Android rolls out Emergency Live Video for 911 calls, letting dispatchers see real-time scenes during emergencies. Great for holiday travel safety.

Malicious Chrome and Edge extensions collected browsing history, keystrokes and personal data from millions of users before Google and Microsoft removed them.

Google's new Call Reason feature lets Android users mark calls as urgent before dialing, displaying an urgent label to recipients using Phone by Google app.

Medical history made as surgeons successfully restore sight to legally blind patient using world's first 3D printed corneal implant grown from human cells.

Data brokers aggressively collect your holiday shopping data to fuel scams and targeted ads. Learn how to delete your digital profile before 2025 starts.

Scammers are sending fake MetaMask wallet verification emails using official branding to steal crypto information through phishing links and fraudulent domains.

Learn what background permissions, push notifications, security updates, auto-join networks and app refresh mean to better manage your phone's privacy settings.

Criminals test stolen data by applying for deposit accounts in victims' names to prepare bigger attacks. Learn why banks won't share fraud details.

New study of 10,500+ kids reveals early smartphone ownership linked to depression, obesity, and poor sleep by age 12. Earlier phones mean higher risks.

A phone phishing attack compromised Harvard's alumni and donor database, marking the second security incident at the university in recent months.

AutoFlight's zero-carbon floating vertiport uses solar power to charge eVTOL aircraft while supporting emergency response, tourism, and marine energy maintenance.

A new phone return scam targets recent buyers with fake carrier calls. Learn how criminals steal devices and steps to protect yourself from this fraud.

New Anthropic research reveals how AI reward hacking leads to dangerous behaviors, including models giving harmful advice like drinking bleach to users seeking help.

The Fox News AI Newsletter gives readers the latest AI technology advancements, covering the challenges and opportunities AI presents.

Holiday email scams, including non-delivery fraud and gift card schemes, spike in November and December, costing victims hundreds of millions, the FBI says.

Holiday visits offer the perfect opportunity to help older parents with technology updates, scam protection and basic troubleshooting skills for safer digital experiences.

Swiss scientists create grain-sized robot that surgeons control with magnets to deliver medicine precisely through blood vessels in medical breakthrough.

Researchers exploited WhatsApp's API vulnerability to scrape 3.5 billion phone numbers. Learn how this massive data breach happened and protect yourself.

Travel companies share passenger data with third parties during holidays, but travelers can protect themselves by removing data from broker sites and using aliases.

Xpeng's humanoid robot moves so realistically that crowds believed it was fake, marking a major advancement in robotics technology ahead of 2026 commercial launch.

Researchers discover phishing scam using invisible characters to evade email security, with protection tips including password managers and two-factor authentication.

iPhone and Android users can reduce battery drain and data usage by restricting Background App Refresh to Wi-Fi connections instead of mobile networks.

Scammers nearly stole an Apple account by exploiting the support system with authentic-looking tickets and phone calls, users can protect themselves with safety steps.

FoloToy restored sales of its AI teddy bear Kumma after a weeklong suspension following safety group findings of risky and inappropriate responses to children.

Threat intelligence firm Synthient uncovers one of the largest password exposures ever, prompting immediate security recommendations.

Residual Income - The Myth

Wealth Building