If you have ended up at this page I'm assuming your wanting to learn how to create your very own residual income, well as the title suggests, you're in the right place! Creating a residual income doesn't need to be hard or take up all of your time, all you need is a good solid plan, with good solid planning! If you rush in too quickly your plan will fall apart before you have time to do anything about it.
          What you are in effect aiming to is set up your own mini business which is capable of running itself, for some example of this go to RI-Businesses to give yourself some ideas. Some of these ideas may suit you perfectly and you may want to use these schemes, but as I mentioned earlier "DO LOTS OF PLANNING !" (its so important I put it in capitals!

          This may sound a little corny, like one of those team building exercises, but first I'd advise you to make a list (oh we do like lists!) of your circumstances and how you can build on these.
          Through your job do you come into contact with lots of people each day, can you offer these people a service? Or refer these people to a service to which you get paid for each referral? 
          Are you in a position where you may be valuable to potential advertisers, own a website, commercial vehicle do you have good relations with a venue pub owner? If you have a website with lots of traffic you could put related adverts on (AdSense?), or if you have a commercial vehicle you could offer advertising space on you vehicle. Or if you own or have good relations with a venue owner you could re-sell advertising space to people.
          Do you have access to information which you could LEGALLY sell on? You could start off you own information premium rate phone line.
          Could you join an affiliate scheme which you know your friends and family would also be interested. And introduce them to the same scheme earning you weekly commission? I struck gold when I started my Lottery Business as an affiliate.
          Do you have the "gift of the gab" where you could put a business directory together of local businesses? And sell advertising space in your directory which will be delivered free to many homes? Check this link Advertising Bottom of the page!
          Are you in a position where you could get entertainers gigs? If you could get a good band a good gig you are generally entitled to a percentage of what the band is getting paid! Just like an agent if you have the connections, all it would take would be to make a couple of phone calls and the rest looks after itself. You could spend 1 day booking 20 gigs for the next 3 month and each time the band got paid, you could potentially earn a commission. Most of the good entertainers will be happy to pay you as your providing them with work, and if they don't, generally these aren't good people and end up failing.

          There are many great affiliate schemes out there, and sadly some outright scams! Keep checking the RI-Business and Affiliate Scheme Review for new additions, stories and ideas for creating a residual income. Ignore any adverts saying by next week you will be earning £1000 per day by this time next week. I'm not saying this would be impossible, but it would probably take a lifetime of planning to instantly earn something like that figure! Here's a breakdown list with comments of how to find and create your own residual income.

1. Review your circumstances, what traits do you have which you can build on?

2. Browse the available business ideas/ affiliate schemes available to you, find the ones which suit your circumstances most and which will be most suitable for you to implement. Read lots of books! I've put a good list together to the left!

3. Narrow your list down and research these schemes, are there any catches? Are their claims outrageous?

4. Pick one idea and begin to plan your strategy, take your time and forget the notion of "Get Rich Quick" and start thinking "Get Rich Slowly". From my first idea "The Residual Income Project" took around 4 months to put together and one of those months was pencilling rough ideas.

5. Do some more planning, find out what competition you have and potentially what competition you may have in the future. Try and make your idea better, ask opinions and advice of friends and family. (but careful no one pinches your idea!) Don't take offence at some advice, it may just be the pearl of wisdom you are looking for!

6. Set your personal targets of hat you want to happen when, earnings, (be realistic) and once you are happy with your idea put it into practice.

7. Monitor your progress is the business looking after itself, does it need some adjusting? If it dies, do it immediately, if you just leave things they inevitably get worse!  

8. Maintain your business, it shouldn't take much as you should have planned it so it mostly looks after itself

9. Give yourself a huge pat on the back once you finally realise you have created a residual income.

10. Learn from what you have done and begin to think about your second stream of residual income! Who said you were only allowed one!

I hope this is a good grounding for anyone starting out, it doesn't need to be hard, you just need to take your time. I cant tell you how to EXACTLY create your residual income as everyone is different and circumstances are a massive deciding factor, what is perfect for someone will be no means perfect for another!Good luck and please send any comments or stories to: andy@triproject.co.uk