Tuesday, February 28, 2012

Understanding the Importance of Residual Income

Years ago when I was selling Verizon Fios services out in the field as a rep for one of their contracting companies, I was making an extremely good income, in fact I was the number one account executive in the nation; on the leader board consistently, week after week after week for over a year and then I decided to walk away from the company and use my skills to build my own business.

During those years, I have learned how much money there is to be made in sales and marketing, and how easy it is to do it. Doing it for myself of course will be a lot more lucrative, but what I didn't know then is how important and easy it is to build a financial empire based on residual income.

During my time selling those services I have brought thousands of customers to Verizon and I made a generous one time commission on each customer, which was great; but what happens is Verizon as a service provider continuously gets paid buy those customers that I have brought to their business; I don't.

Now what exactly is residual income?
It is income you receive on a regular bases on work that you have done one time. It requires no maintenance, no effort, this is  true passive income. You do the job once and you continue to receive payment for it as long as the product or service is still being used by the customer.

Residual income is smart money and a fast way to retire comfortably. When I walked away from my 6 figure income years ago and decided to start my own business, well the income stopped.

When choosing a business, make sure to choose one that will allow you to make money on your past efforts; if you walk away and your customers stay with that product, you will still make a living; this is a nice way to retire.
Triniti Communications offers residual income on all of their services. Make sure you understand that as an Independent Business Owner with TrinitiComm you don't only make money on your referrals and from your one time commissions on sales but you are also building a massive monthly residual income. Make sure you are promoting your products and services and not just concentrating all of your marketing efforts on recruiting.

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