There is a great controversy out there in the world of making money online. This debate stems from what amount that people are willing to work for. The usual amount that is tossed around is people writing for 1 cent a word. One side of the debate states that this is an insulting rate of pay and no one should be writing for it. The other group is usually just happy to have a paying gig. I try to stay away from these heated debates. I do however believe that writers should transition from the 1 cent a word gigs to building residual income. Why do I think this way? It is quite simple. ** Disclaimer: I do believe that if you have to take these jobs to pay bills then do so. You need to do what you have to do and no one should put you down for it. **
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Is 1 Cent a Word Really Worth It
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Pros
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*Abundance of Available Jobs
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When you chose to make money online writing, there is always a fear that you will run out of assignments. If you do not have work from clients then you will not make money online. It is that simple. If you are willing to work for 1 cent a word, there always seems to be a never ending supply of jobs available for you to take.
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*Payment Right Away
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When you take these types of jobs, you know exactly how much you are going to earn and when it will be in your bank account. With residual income, you never know how much you are going to make and exactly when the cash will start coming in.
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*Little Creativity Required
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The majority of the 1 cent a word jobs clearly state what they would you to write an article on. There is no need to research an article idea or keywords. You write on the topic that is given and get paid. End of story.
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Cons
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*Low Hourly Rate
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When making money online, the amount of cash that you can earn in an hour is one of the key factors to determine how well you are doing. When you are writing for 1 cent a word, it is impossible to get your rate higher then minimum wage. There are many people who have built residual income to a level where their hourly rate is over $50 an hour and still climbing.
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*One Price
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When you choose to make money online with residual income, you have unlimited earning potential. One 400 word article can earn you thousands of dollars over its lifetime through residual income. That article will only make you $4 the other way.
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*Ownership
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When you sell content to a client, you lose ownership of the material. This means that they are free to do whatever they want with it. For some people, this is ok. The reality is that it is better for you to keep ownership of your work and build residual income with it.
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With these facts in front of you, it should be quite easy to see why more people are turning to residual income. So what are you waiting for?
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