Owner: The Residualist URL:http://residualist.com Join Date: Fri, 16 Mar 2007 03:47:41 -0500 Rating:0 Site Description: An attempt to chronicle one man's quest to generate residual income Site statistics:Click here
A Quickie Collection of Great Posts from GeniusTypes.com 2007-03-16 09:29:28 I’ve just spent a bit more time reading some of the older articles on the GeniusTypes.com site. The more I read, the more impressed I am. Here are a couple of great posts that I really enjoyed, and I think would be beneficial to anyone reading this blog:
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AGLOCO 2007-03-16 07:37:34 Two major categories of passive income generators that I intended to research are Internet Marketing and Network Marketing (aka Multi-Level Marketing, MLM, etc). AGLOCO
is an example of an opportunity that spans both of these categories. The short version is that you sign up and install a piece of software called the “viewbar” into your browser. The viewbar then provides a search mechanism, displays ads, and tracks your usage. You get paid for various activities (searching, viewing/clicking ads, buying stuff through them, downloading stuff through them, etc as well as just surfing with the view bar installed) . In addition to directly compensating you for activities you engage in, you can sign up people under your referral ID and you get a cut of the revenue generated by the network of people you build. You also earn shares in the company itself.
I have avoided signing up for AGLOCO until now, mainly because it does have a bit of a pyramid scheme feel to it, and I&rsq
Techquila Shots 2007-03-15 06:23:58 The first post on the Techquila Shots blog introduces it thusly:
The mission of this blog is to spark ideas and business creativity in my readers. I have started this blog to express my web strategy/marketing creativity by differentiating from all of the other great “web tech” blogs out there — whether it be news (TechCrunch, Mashable!, GigaOM, etc) or opinion/insight from the many blogs by VCs/Entrepreneurs/etc.
I have just stumbled across the blog, and since this first post on January 17th (almost exactly 2 months ago), Steve Poland has made over 70 more posts outlining and discussing 42 separate business ideas.
I think this is a fantastic idea for a blog and a commend Steve on his effort and hope he keeps it up.
What do we mean by “passive/residual income”? 2007-03-15 06:03:45 If you are reading this blog, you probably already have your own idea of the answer to this question. The problem is that everyone’s idea of that answer may differ slightly (or perhaps even greatly). Therefore, it behooves us to present a common definition so that we will all be on the same page moving forward.
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Felix Dennis on Becoming Rich 2007-03-15 05:04:19 The Times Online has a great article by FelixDennis
(the publishing tycoon responsible for, among others, Maxim Magazine). It’s entitled “If you want to be rich, first stop being so frightened“. It doesn’t have any direct connection to passive or residual income, but I think the core message is dead on, and I thought it was a great read, so I figured I’d post it. I will continue to post other items that don’t have a direct connection to passive/residual income but which I think are still interesting in the “related” category.
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Business Models on the Web 2007-03-15 04:54:16 I am putting the cart before the horse a little by posting this before I’ve posted any of the introductory material I have planned, but I thought it best to post now and have it for posterity then to delay and potentially lose track of the article. In any case, Managing the Digital Enterprise has a good piece discussing Business
Models on the Web, which provides a good breakdown of various business models used by online businesses. One of the major categories of passive income generating techniques that I expect to discuss is Internet Marketing and this piece provides some good background for that space.
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Welcome to The Residualist 2007-03-13 23:08:40 I am an average ordinary every day guy… with a goal. I believe that building passive/residual income is best approach for the average person to acquire significant wealth. My goal, therefore, is to research and analyze as many potential forms of passive and residual income as possible in order to determine how to best spend my own time, capital, and other resources in the pursuit of wealth.
This site will be an attempt to chronicle what I hope will be an eventful and educational journey as I begin work on this research and analysis. In the end my hope is that this site proves educational or in some other way provides value to like-minded individuals. And, if I’m lucky, maybe I can even find a way to monetize it and start earning a little residual income along the way.
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High Level Approaches to Passive Income Generation 2007-03-19 06:17:22 I was initially planning to have this post about the different high-level approaches to passive income be one of the first on my blog, but I haven’t had the time to edit it until this weekend and I got a bit ahead of myself with some of the other posts that have come before. In any case, without further ado, here is it is:
There are innumerable specific ways to generate passive income — but to make them easier to work with, I am going to attempt to break them out into one of several major categories. There are undoubtedly different specific techniques that will span categories or won’t quite fit into one perfectly, but we’ll cross that bridge when we get to it. In the meantime, here is the current breakout of major categories that I have come up with along with some examples for each category…
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E-Books: The good, the bad and the ugly 2007-03-21 17:48:26 Matt Coddington has posted an entry entitled “My Little E-Book Rant” on NetBusinessBlog.com, in response to a post entitled “The Ebook Crusade” by Jon on his Super Affiliate Marketing Blog.
Since I plan on exploring the business of E-Books
as part of my research, I thought I should log these posts as a data point. By and large I agree with Matt’s view point. I think it’s pretty obvious that not all e-books are scams, but any time I see one of those pitch pages promising great riches with no work, it makes me angry.
In fact, that is actually one of the reasons I started this project and this blog. I am in love with the idea of creating passive income, but I am sickened by the huge pile of BS you have to wade through if you are searching for legitimate information on passive income online. When friends asked me about my motivation, I gave two specific examples of the type of horrible stuff you run into when searching for information about passi
Criteria for Valuing a Passive Income Opportunity 2007-03-23 19:45:16 Introduction to Criteria for Valuing a PassiveIncomeOpportunity
Every passive income opportunity is different. They all have their own unique character. It is probably not possible to say that one opportunity is better than another, at least not usually. Different opportunities are better/worse for different people at different times. However, since my goal is to decide what opportunities I should spend my time persuing, I need to compare and contrast all each of the different opportunities I analyze on an equal footing. In order to do that, I am going to need a consistent set of criteria for evaluating them.
This post is a first shot at putting together that list of criteria. I am sure that as I do more research and analysis I will uncover other factors that need to be added to the list, and I will probably find better ways to organize or think about these initial factors… but, you have to start somewhere. I am not sure exactly how to measure each of these factors, bu Read more:Passive Income
Passive Income Tidbits 2007-03-25 07:30:26 Here are some posts from around the blogosphere that I have read in the past week or so that relate to one or more items that I have mentioned or will be mentioning, or might otherwise be relevant to the audience of this blog.
‘Moving a Savings Account to an Online Bank‘ by Jay White on his dumblittleman blog.
Jay also has a post pointing to a piece entitled ‘10 Internet Businesses You can Start with as Little as $100‘ by Kineda on her blog….
…and another entitled ‘The Myths of Starting a Business‘, which references a post called ‘Six Self-Employment Myths You Need to Know Before Striking Out On Your Own‘ by Amy L. Fontinelle at Personal Finance Advice. These posts are close to my heart, because as I’ve mentioned before, one of the things that motivated me to start on this project is all the bad info on how easy/hard it is to start your own business (vis-a-vis creating passive income).
One of the specific ideas that Read more:Passive
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An Introduction to Financial Statements 2007-04-10 04:29:59 GetRichSlowly has a great introduction to financial statements, highlighting three of the most common, the balance sheet, the income statement and the cashflow statement. This is something that almost anyone concerned with generating passive income should be familiar with and understand at least at the level that it’s described in this post.
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Passive Income Tidbits #2 2007-04-25 06:09:35 I’ve just finished moving this last week, so I’ve been a bit too busy to spend any time on this project, but just to try to provide a little value, here are some more quick links I’ve come across since my last post that may be of interest.
40+ Ways to Make Money on the Internet at DumbLittleMan.
10 Reasons You Aren’t Rich by Jeffrey Strain at TheStreet.com and J.D.’s annotated version at GetRichSlowly.org (with a bonus 11th item).
Dane Carlson’s Business Opportunities blog.
A great post with a great title at Feld Thoughts: ‘Fear is the Mindkiller‘.
Brian Lee’s PassiveIncome
Report at geniustypes.com.
Don’t Tell Me What You’re Gonna Do (also at geniustypes.com).
Edited to add:
I forgot a great one: Self Made Minds, a blog started by two entrepreneurs chronicling the day-to-day life of running their own website businesses.
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Day Job Keeping Me Busy 2007-05-02 07:17:40 I’m really frustrated right now because I really want to put more time and energy into this blog and the research behind it, but at the moment I have no choice but to focus on my day job. There’s simply too much going on and it would be foolish of me to divert too much of my attention.
The only good news is that I’ve been able to spend a little of my time between working on “real” projects on a side project, currently simply called “ladder”. The idea is you can create “ladders” of images and then people vote on which images are better and they move up and down the ladder. I haven’t done much with it yet, but the idea is to apply some internet marketing muscle to it and see if I can start generating some passive income through AdSense and/or other internet marketing style monetization mechanisms.
If I’m at all successful (and to some degree, even if I’m not) it will actually serve as a case study for this pr
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