Are you tired of trading hours for dollars? Are you a hard worker, but would prefer to spend your time building a business that will create a continuous income stream for you? If the troubled economy has made you rethink your career goals or professional ambitions, now may be the perfect time for you to try something new.

Although residual income businesses have been around for decades, the Internet has created more possibilities than ever before for people just like you to create a profitable residual income business. While there are a countless number of “get rich quick online programs” that are nothing more than scams, it is true that you can create a very profitable residual income business online. The important thing to remember is that making money always requires work, but the difference that the Internet offers is that you can work hard to create a business that is going to continue generating revenue for you even when you are working on something else.

One great opportunity for creating a residual income business is buying domain names. A domain name, such as cars.com, can cost as little as $8 to register. However, when properly monetized, domain names can earn huge amounts of money through advertising.

The key to buying domain names is finding short, generic domain names that describe something common people look for online. Although you’re not going to be able to register any domain names like diamond.com for $8, with some research, there are still plenty of opportunities that exist for finding great .com domain names that can generate large amounts of residual income.