In the short term, this may require a relatively large amount of work before the income is seen. There will come a time however, for the persistent person where results are generated and continue to be produced, even if the input of work is decreased.
Is a Residual Income Possible Outside of Theory?
A great example of residual income that has definitely worked is the online card system, Send Out Cards. Jordan Adler of Beach Money has utilised this card service to generate a passive or residual income of $1.2 million annually. He achieved this in under five years.
How Does it Work?
Send Out Cards provides an online program that allows the consumer to create and send cards around the world at a fraction of the cost that would be incurred by buying a card at the newsagent and posting it. It is possible to create and send a card on the internet in a few minutes.
The resulting cost for a printed card is around $1.50 USD, including postage. Is it possible to find a printing place that would provide this service for one card, including postage? Chances are, probably not.
Generating an Income through Sending Cards
To utilise the software of Send Out Cards, there is an account setup fee as well as a minimal annual cost. In the long run, if someone sends a lot of cards, it can be a lot more cost effective. It is possible to pay a fee and just use the service to send out cards. It is also possible however, to pay a higher setup fee, utilise the service and also refer others to sign up and utilise the same service.
If choosing this package, which is known as the “entrepreneur” option, each time someone signs up on account of another person, that person earns a referral bonus. Money is also earned each time the referred person sends out a card. Obviously, the more people who sign up under someone (and the more people that sign up under those people), the larger the potential for income to be earned as more and more referred people utilise cards and sign up to encourage others to do the same.
Why Send Out Cards?
Someone looking to generate a residual income is probably best to attempt this through a few different avenues. In this way, it’s possible to find out which systems work and which don’t as well as limiting risk. Cards are something that won’t go out of fashion; there’s always a use for them, making this system one that will be continually used and therefore able to continually generate an income.
There are numerous reasons to send someone a card:
- Birthday wishes
- Wedding congratulations
- Sympathy cards
- Thinking of you cards
- Christmas cards to family members, friends or even clients
- Thank you notes and plenty more
People often think to send a card to someone for one reason or another but then fail to follow through because they don’t have immediate access to a card and stamp. Send Out Cards was set up to enable people to act on that prompting to get in touch with someone.
In an age where internet use is so prevalent, it’s possible at the click of a button to send a card almost as soon as the idea is formed. That in itself is what gives this network marking idea the potential as a residual income earner.