How to Build a Business of Residual Income Part 5 of 7

I am very passionate about building a business of residual income and this is part 5 in a series of 7.

I am very passionate about building a business of residual income and this is part 5 in a series of 7. When I started my online business, I didn’t have a blueprint of what to do, I did however, have many mentors, including the person who brought me into this business. I like to share what it is I’ve learned throughout my ten years, all my answers and secrets to help people live the life that they want.
Part 5 in my series on building a business of residual income is all about being HONEST.   Continue reading

How to Build a Business of Residual Income Part 4 of 7

What residual income means is the longer you do something the less time you have to put into it.

Time Vs. Money

In the beginning it seems you are putting a lot of time for not a lot of payoff. As time goes on you put in a little less time for a little more money. Balance starts to tip in your favor. A good example is that of musicians. They put in a lot of time in the beginning stages of their music, writing songs, assembling the band, recording and then production. Then they can enjoy the payoff as their song is played and purchased.

In the beginning when I started I was working ten hours a week and only making about $30, that’s $3 an hour. People thought I was crazy! I knew that with the residual income model that eventually it would work in my favor, as long as I stayed consistent.

So…how do you stick with something that isn’t benefiting you financially? You need to be able to think long-term. What is Possible? What is coming? What are you setting yourself up for?

Consistently base your actions with your long-term goals. Are they pushing you to the next level, to financial security, think to yourself where do you really want to be?
Challenge yourself and ask yourself “Does this go along with my long-term goal or is this just short-term?” What helps me is to think to myself is this the most important use of my time right now. Mentor and personal development guru Brian Tracy speaks to this topic a lot and it really hit home with me.

Teaching people how to have successful businesses, personal development and goal achievement is my passion. Always keep your eyes off the income/numbers part of it, remember relationships first. Don’t look at people as dollar signs, if you are only looking at financial rewards it will end empty. The true blessing is who you are becoming. Be the best, be who you want to be and time is going to pass.

Think about is this something you could duplicate? Can you teach someone else to do what you do? This is especially important with a home based business or online franchise. You don’t want to make yourself so niche that you won’t be able to teach it to someone else.

Oftentimes it is the start that stops us.

We think about all the things that we want to accomplish in life but at the end of the day if we don’t feel like it’s possible or if it is so far out of our reach that it’s just not going to happen, we just don’t start. Just because you don’t know the outcome of something, does that mean you shouldn’t ever start? When I started this business I didn’t know it was going to be successful, that I’d be able to retire after a few years, that I’d be able to work part-time and make full-time income, start a family, work from home. I am glad I didn’t let the unknown outcome stop me. In the beginning I just wanted to buy groceries, then I realized I could pay off my car, create a savings account, pay off my debt, quit my full-time job.

I want to work with positive people and help them build a successful business with what I know works. Drop a comment below and I look forward to hearing from you.

How To Be More Productive

I have such an incredible productivity tip for you today. If you want to increase your productivity – you should journal or create your “to do” list the night before. So…when you wake up you hit the ground running, the other thing is your brain works on things while you are sleeping.

I heard this from Shark Tank star Daymond John, who also wrote the book The Power of Broke, he writes down the things that he is working towards or obsessed with, so that his brain can start working on them.

I usually like to watch tv and do mind numbing activities before going to bed and as some of you may know I have been struggling with insomnia lately. I thought to myself maybe this journaling might help, Chalene Johnson also speaks to this and does her “to do” list the night before.

I decided to journal what I was grateful for and then jot down my goals and finally listed the goals I was working on at the time. Starting with what I was grateful for put me in a positive state of mind before tackling my massive to do list. I was able to pull out my top five things that I would focus on the following day for the short time I have to work.

When I got to my desk to work I was able to start working on what I actually needed to get done that day. So often, I would sit down to work and have to spend time figuring out what I wanted to get done, I wasn’t being as productive as I should have been. When I sit down I need to be ready to work. and on this day I hammered through my list.

Figure out what things you need to do daily or monthly to reach your goal. You will definitely get more accomplished if you prepare for your day the night before.

How to Build a Business of Residual Income Part 3 of 7

Doesn’t it feel good to have a goal and achieve it? I have built the life I love while working my home based business for the past ten years. It has given me and my husband a ton of freedom, financially and in regards to our life. How to build a business with residual income is something that I am passionate about and help others do the same.

Most people don’t know what they are doing when they start building their own business, I am here to help you set yourself up to succeed in starting your own home based online business.

Tip #3 on how to build a business of residual income is you need to GET IGNITED. You need to have the desire, a fire within you, that makes you get excited to work your business. When you have your own business you need a REASON to do the things that maybe you don’t really feel like doing.

Successful people do the things necessary in order to create success. I follow a man by the name of Darren Hardy, he is a person of integrity first, he speaks to what is going to get you to the next level. It is the small things that will make a difference in how your life can change. The choices you make everyday will make a difference in the long run. Tap into your emotions when you are working towards a goal. One of the strongest emotions is frustration, anger, just get mad about where you are in life, the situation you might be in.

Think about how you got to where you are, it most likely is little things that compounded and found you in the place you are now. Create the strongest foundation you can while starting to build your business. When I started I was angry at where I was in my life, I used this as fuel to build a business of passive income where I now have the freedom to stay at home with my children, to take vacations with my family and basically have the life I always dreamed of.

Don’t accept defeat, get ignited and start to build the strong foundation you need to create a business of residual income. Drop me a comment below and stay tuned for part 4 coming soon!

Warm And Cold Market

Warm Market?  Cold market ? What does it all mean?  If you’re new to network marketing or you’re trying to figure out how to get started in network marketing, you’re going to hear these words a lot.

Think about a bulls-eye for moment.  Imagine your warm market being your family in the center of the bulls-eye, then it expands to people you know, then the outside of the bulls-eye is people you don’t know (social media etc.).

I want you to avoid one of the most common mistakes network marketers make, and that is not sharing with the people closest to you. This happens in all areas of the business world, but we as entrepreneurs often don’t share what we have to offer with those closest to us.

You want to start with the people closest to you and work your way outwards. A fire burns hottest from the center.

One Minute Business Tip Work Ethic

One minute business tip for you today is work ethic. It seems so simple but sometimes it is the small stuff that puts you ahead.

I help people start and run their own small businesses and have found that if you have the ability to focus, put your nose to the grindstone and get things done, then you have what you need  start a small business.

A strong work ethic will help your small business start-up and will continue to help your business succeed.

One Minute Business Tip Strong Mentor

One minute business tip for you today is find a strong mentor. This person can help navigate the waters you haven’t been in before.

So many of us are solo entrepreneurs, running home based businesses or online businesses, where we are doing it on our own. Get with someone that is one step ahead of you, they know the path and will help guide you.

Anything that you have done in the past where you were learning something new, you had someone teach you, it’s no different in business. I love mentoring people and helping them start their own home based businesses. Find a strong mentor and be open to the knowledge they can share with you.