Tuesday, January 1, 2008

The Secret To Long-Term Music Business Income

Perhaps the best product is one that has recurring monthly fees. This is known as residual income, and is the best income to make, because you make one sale but are paid month after month.
Would you rather make one sale for a one-time $65, or one sale for a monthly subscription at $10 per month? I would rather have the monthly subscription, because after the seventh month I will have made more than the $65 from the first sale, and the money will keep coming! It is possible that you can still be making money three years down the road from one sale.
Here is another example to show you the power of residual income: You work everyday for a company. Your paycheck is dependent upon your working. If you don't work on a given day and you are paid hourly, you will not View the rest of this article


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