Today, let us dive in little deeper in to Residual Income System.
Ever wonder how you can earn steady monthly income? Imagine checks are waiting in your mail-box every week or month without giving too much of work. This is very powerful. When I first started my residual income system, I had no idea what to expect. Sometimes, I would receive checks that are as little as $20.00 or less, but in my mind, I knew that I can duplicate my income if I just put little more thought in to it. After few months, the check grew to few hundred box which not it became $1,200. I kept on adding and adding. Previously, I have mentioned about getting educated, and that’s exactly what I will be covering today.

We will be covering:

1. Welcome to your first online business
2. Three important parts you must learn
3. Learning the basic terms (don’t worry too much about them)

1. Welcome to Your First Online Business

Please take time to congratulate yourself again. Now you are on Day 2! This is very exciting, because I will be walking step by step with you. Let’s think about the following questions while we are on Day 2:

1.1: How and why am I getting paid? Do I need to sell something?
1.2: How long does it take for me to earn my first income?
1.3: How much of time do I need to spend each day to make it happen?

1.1 How and why am I getting paid?
First, if you have already done off-line business before, you should understand this little better if not faster. Everything involves with money. Please see the following diagram. Forget about all these complicated resource that you have heard online. Information is just overloaded and scattered everywhere. Whatever people are earning money, everything boils down to this.

Online Vending Machine Concept

Step 1) CUSTOMERS (People with money)

Step 2) WEBSITE (Your vending machine)

Step 3) Finds a product (eg. products, advertisements, affiliate ads, services, etc..)

Step 4) Payment Process (CUSTOMER purchases xxxx from your website)

Step 5) Revenue Share (You will get paid after every transaction)

Step 6) Repeat step 1 ~ 5

Everything involves with two things: customers and products. Remember these two things. You’re getting paid, because someone is spending money. No rocket science involved.
No customers equals no revenue. Don’t worry too much about this vending machine concept. We will be covering more later on. For now, just know that Step 1 ~ 6 (online vending machine) can run 24/7 while you are sleeping.

Here is another quick figure of the METHOD:

1.2 How long does it take to earn my first income?
I will give you a short answer. Depending on your experience, it will take about 2 ~ 3 months. It takes faster for some people, but this is usually how long it takes me.

Here is my break down:

2 days: Research – money keywords
3 days: Vending Machine – building a website
1 month: Marketing – Generate traffic (I know, this takes up the most time)
Content generation – SEO

1.3 How much time do I need to spend per day?
You will need to prepared to spend some good time in the beginning. Your time of investment will get shorter and shorter.

For example, I can create a simple WP site within 30 minutes (which I will show you how later on). I’m talking about starting from scratch to live page. In the beginning, it took me some time (couple of days) to figure out how to put things together. It all came down to my experience. More you practice, you will get faster. Most of my time is now spent on content, marketing, and finding products. These are the areas that will take most of the time.

2. Three Important Parts You MUST learn

If you are reading up to this part, congratulate yourself again. I know, it can be tedious sometimes. I have cramped 6 months of knowledge in to one paragraph.