What is Multiple Streams of Residual Income?

I’m sure you have seen this phrase before ‘multiple streams of residual income’ but many people have no idea what it means or how it’s possible.

Let me explain, how it works and why it’s so powerful. If you want to be making the big bucks this is something you need to know.

What is residual income?

Residual income is simply making money over and over from an initial effort. You continue to make money without doing anything after you have everything set up and going.

What is multiple streams?

Multiple streams simply means that you create more than one source of residual income.
So let us think about the power of this. You create a source of income that makes you money over and over again once after you do the initial work. An easy example of residual income is a membership site. You direct customers to a membership site; they join and pay a fee each month. So once you get people to join the site you get paid over and over.

There are many other ways to make residual income based on advertising. You build up traffic flow to a site and you continue to get traffic after you stop working on getting traffic. This is great because you will be making money on autopilot (occasional maintenance is required).

So now you have free time, this is where the multiple streams comes in. You can start advertising for another site or product. Then you will have 2 sources of residual income. You continue to follow this process until you reach the level of success that you desire.

Once you reach that you will be making tons of money and have tons of free time!