Residual income is different and in so many ways better than straight commission, hourly wages, an annual salary or stipend. First let\’s compare residual income to a straight commission.
Residual Income vs. Straight Commission
Anyone who has worked in sales know all about receiving a straight commission check plus bonuses. Whether you\’re selling cars, programs, plans or services, straight commission or a fixed/variable percentage of your sale can be very rewarding based on your performance. Some folks love selling something most people don\’t. Selling sometimes involve telemarketing, long days or hours, short weekends, good/bad months, book of business and skills. Normally, if you don\’t sell you don\’t eat which means start looking for work elsewhere preferably not in sales. When sales are \”hot\” you cannot knock this form of income but when sales are cold, start packing your bags.
Residual income is similar to receiving straight commission with an added twist that\’s not a bonus. Like the mustard seed of faith, residual income usually start out lower than a straight commission but over time outperforms straight commission due to it\’s dependency of repeat customers monthly unlike a hit or miss sales stragety of commissions. Residual income tied to sales is a diaster but services provide the best outcomes which is our choice here at Rejoice! So head to head here are the results:
- Straight commission sales of $2,000.00 monthly = $24,000.00 yearly
- Residual income service of only $300.00 monthly = $23,400.00 year 1
- Winner – Residual Income!
Residual Income vs. Hourly wage/Job
Besides steady income, jobs pay the bills and who don\’t have bills to pay. Jobs if full-time, provide health benefits, pensions, social security and medicare benefits. Nobody wants to get stuck in a deadend low paying job but high paying jobs full-time jobs are extremely hard to get unless you know somebody. Technical jobs are good when your services are in demand but what if they\’re not? Retraining and retooling are always an option when things don\’t work out. Most people with jobs work a side hustle just to make ends meet so when all else fails, get a job!
You may need to get a job while building your network which makes good common sense. Jobs are a means to an end but not an end to your means so work your job until your network can replace your income or keep your high paying job with benefits and work your network!
Winner residual income!
Residual Income vs. Salaries/Stipends
Annual salaries/stipends are usually merit based upon your seniority, rank or other measure of security which is a long term retirement goal for many unless you are laid off or fired till death do you part. Salaries usually come with good or great benefits not to be forfeited by any means.
Unless boredom sets in, residual income may not be attractive enough to be a risk worth taking or undertaking. If salaries aren\’t high enough, residual income may catch the corner of a salaried eye but then again maybe not.
Winner: Salaries/Stipends
Overall Performance!
High paying jobs and salaries provide benefits worth keeping but everything else is fair game for earning residual income part time and that why networking small businesses and organizations works great for serving and servicing communities through our community service and business Christian network.