Passive Income, residuals, royalties three ways to get paid multiple times for a one-time effort. You write a song in 1970 it gets covered by many artists. Each artist sells many albums or radio stations play your tune and Presto! you get a royalty check in
mail, even decades after you first published song. Here's another example:
The Best-selling author, Robert Ludlum was an extremely popular spy-thriller writer. Espionage based fiction was at its peak during Cold War Years prior to collapse of Soviet Union and Berlin Wall. Two of his titles, The Bourne Identity and The Bourne Supremacy were written in mid-seventies, roughly thirty years ago.
Both books became recent smash hits starring Matt Damon. Mr Ludlum gets royalties from box office,VHS and DVD and (I am assuming) merchandise sales from these films. Not only that, movies have stirred up an interest in all of his books. They have been re-printed and released again to book-buying public. All of this from two books he wrote 3 decades ago! Can you say Ka-ching!
That is power of residual income. I intend to write a bestseller one day. It has always been a dream of mine. My Father was a writer and I come from a family of devoted readers. I have a passion for books and that is what impels me to write. The idea of royalties is just icing on cake. But such enticing icing!
Building a passive income is also one of main reasons people get involved in Network marketing. You can build a Network that continues to grow even after you have retired from business. Take a month off -check's in mail. Take a year off to backpack through India - there's a check coming in every month you are away. Try to do that with your job. Or harder still: Try and leave your employees to man helm for a year and see what happens. Maybe, not so good.
