Make 1 Dollar a Day
So how to do you make 1 dollar a day? Making $1 a day may sound like a joke to you, but when it comes to residual income, you need to understand just how powerful a simple dollar a day is.
The majority of us work for a living. We put in time and get money in return. It pays the bills and other expenses. $1 a day is peanuts compared to what you can make at any job, but it’s money that you don’t have to do much or any work to make. You can miss a day of work and make nothing. With residual income, you can miss a day of work and still make that dollar.
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So let’s get down to it. How do you make 1 dollar a day in residual income? The answer is by creating and building a system that runs with or without you. This can come in many different forms as mentioned on some of my other posts. The key here is the system has to be able to keep running with or without you being present, at least most of the time.
You can have a business that brings in thousands of dollars a month, and that’s great, but if the business will die if you aren’t there, then all you have is working income. Owning a business doesn’t mean you have created residual income. That said, if you can build a system where your business continues to run even if you take a few months off, then you’re building the right income.
So what systems can you use to start making $1 a day?
If you’ve ever read about Warren Buffet’s childhood, you probably know that when he was a kid, he made money through a paper route. This isn’t uncommon of course, many kids have paper routes, but what made Buffet different from the rest was that he didn’t actually deliver the papers. What he did was went around the neighborhood selling subscriptions. Once he got the initial payment, he used that to hire other kids to deliver the papers for him.
Assuming that the subscribers stuck with the papers, if you did this, you can take off and still make money.
In this case, the key was having ongoing monthly income from a product. Think about your cell phone bill. You pay every single month to use your provider’s service and every month, the company collects money. The owner of the company just hired a bunch of people to run the day to day operations.
Here’s a test. Can having and operating an ice cream truck be turned into residual income? That depends on how you approach the business. If you just drove and sold, then no, all you have is a job. However, if you invested in a truck, hired someone else to drive and sell for you, and have another person get the supplies, then it can be.
Build Residual Income with an Internet Business
The simplest and cheapest way to build residual income is starting a website and then learn how to make money with Google Adsense. Keep in mind that I said simplest, not easiest. You wouldn’t believe how many people fail at creating ongoing income online. The promises of many advertisements are high, but in the end, people end up crashing and burning left and right.
Here’s the truth about creating residual income online. It takes a lot of time and patience. Time meaning don’t expect to quit your job anytime soon and patience because you will be sometimes be working for months without a penny coming in. The good thing is that once you get to the point of making some money, it does get easier the second or third or tenth time around.
Yes, you will most likely need to build multiple websites to make any decent amount of money. There are people who make tons of money with just one site, all residual, but that’s more of an exception than the rule. You want to increase your chances of hitting your goal of making residual income by just producing more.
Patience, hard work, and a little bit of luck can go a long way in helping you make 1 dollar a day in residual money for the first time. From there, the sky’s the limit.
There are many ways to create residual income. You just have to find and gather the knowledge on topics like how to make money online with Adsense, affiliate marketing, and other internet businesses or offline techniques like real estate investing, stocks, and business.
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