What is Residual Income?

What is residual income and how can we set it up to our benefit.

The only  impossible journey is the one you never begin

We hear the term ‘residual income’ talked about a lot in network marketing, but it’s a concept that confuses many people. If we have a look at the general term ‘Income’ it can be thought of as being divided into three main groups:

1. Earned Income – that which we would earn from our job, with a weekly or monthly salary. When you stop working, you stop earning.

2. Passive (or residual/recurring) income – money received on a regular basis with little effort required to maintain it.

3. Portfolio income – such as we might receive from a portfolio of stocks and shares.

Residual income can therefore come from a number of sources including rental from a property, royalties from publishing a book or even, some might argue, a pension. Many recording artists receive residual income in the form of royalties; Sir Paul McCartney might have left the Beatles many years ago, but he will still receive an income from the work he did whilst part of the band. In sum, it reflects an ongoing payment for work that was done some time ago. Harry Potter might be the name everyone is familiar with, but the recurring income from all the hours and hours of work that went into creating him will go to J.K. Rowling.

In the world of sales and network marketing, residual income is therefore the repeat regular income generated from the payment of a product or service, that must be renewed on a regular basis in order to continue receiving its benefits.

Psychologically, the idea of creating and receiving a residual income for life is a powerful motivator for many internet and network marketers; particularly if they don’t already have excellent pension plans in place, or if they are looking to put all their energies into building up a successful network marketing business so that, after a few years, they can either quit their full time job, move to part-time, or even retire early with a monthly income to look forward to.

If you are an internet marketer and wish to generate a residual income, there are a number of ways to do this, but basically you would create a website and fill it with affiliate content as well as something that you have created yourself, such as an e-book, that you can sell. In theory, it could practically run on autopilot.

If you are a home based network marketer, you would generate a residual income from selling your products or service to customers and, at the same time, encourage new distributors into your business. You will then create a residual income from the repeat sales to your customers, and also from the sales generated by your distributors.

Sounds easy? In theory it is, but in practice you need to make sure that you have a product that people want, and will continue to want despite changing trends. For example, would Sir Paul still be receiving royalties if no-one bought the Beatles music, or J.K. Rowling if no-one ever read a Harry Potter book or watched a film?

The simple answer is NO. Every product or service needs an audience. So if you have a great website it won’t make you any residual income if no-one visits it, and you won’t make any residual income in network marketing if you never offer your product to anyone, or its so obscure that there is only a small market for it.

The key to success is Marketing. One of the main reasons why people fail at network marketing, or only generate a tiny residual income, is that they give up too early. Network marketing is a game of longevity. Build your business from the ground up. Offer your products to as many people as possible (by whatever means suits you best). Bring new distributors into your business and TEACH them how to be successful; let them learn from your mistakes. But, most importantly of all, don’t give up at the first hurdle. Some network marketers are quick off the starting blocks but run out of wind easily, and others pace themselves all the way round the track. Who hasn’t heard the story of the tortoise and the hare?

Do these things, and you will generate for yourself a solid residual income that will allow you to set your own goals and achieve your own dreams. Affiliate Marketing University

Happiness is the Key to Success

Success is not the key to happiness.
Happiness is the key to success.

Success will no lower its standard to us we must raise our standard to success.

“If you love what you are doing, you will be successful.” —Herman Cain.

So are you happy in your day to day efforts? Do you find your self seeking the secrets to success that has eluded you? Stop procrastinating and get yourself on the road to success. Why not make today the day you decide to take control of your life and destiny?

Greatness does not come to those who wait, it is taken by those who go after it with passion. Creating a happy life style and pursuing your passion is easier than you may think, so many people are living the life that they have dreamed of, why not you?

”Always bear in mind that your own resolution to succeed is more important than any one thing.” Abraham Lincoln

Setting out this very minute will put you on the path to find the secret to success, action, action, action. Yes action will start a series of events that will set you up for the life of your dreams.
My dream life has me skiing more than working, enjoy my days as I see fit. How do you see your dream life? I bet definitely not working nine to five, week after long week, slowly moving to the one day that you retire. Set your self up now to create your dream life. Get the information you need and put it to work right away.

Procrastinate no more! “You are what you repeatedly do. Excellence is not an event – it is a habit.” Aristotle

Wow! What timeless piece of valuable knowledge, that is also appropriate today. Learning from those that have created the dream that was thier life, will give anyone that becomes the student of the secrets to success, a great advantage.

Make the impossible,possible. Plan to succeed and make that life your reality. Happiness is the key to success. “Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.
” Picasso

Everyone can learn the secrets to success and happiness,when we follow knowledgeable and inspiring people. Set your goal to happiness and pursue it with all of your passion. Life is not a dress rehearsal, it is live action, action, action! Learn the eleven Laws for success Click Here!
NowYouBeYou
Joe Kennedy Extreme skier,artist and entrepenuer find out more at www.JoeSkiBum.com

Ten Tips to Accomplishing Your Goals

Ten tips to accomplishing your goals. Have you ever wondered why some people seem to move ahead on the road of success so much faster than others do?

Have goals so big you feel uncomfortable telling small minded people 1

Have goals so big you feel uncomfortable telling small minded people.

Accomplishments seem to come easy to them. While they may experience problems and challenges from time to time, they never let them get the upper hand or dampen their positive attitude. These people manage to bypass all the obstacles that get in their way, and things always work out as they plan them to or even better. Being an entrepreneur is not just about having sass and style, it is most importantly about having success. While there are varying definitions of success, in this context success means accomplishing great things, achieving, progressing, and thriving. In order to accomplish great things, you must first decide to do so. In order to achieve, you must make that your intent. Progress by its very definition means to do measurably better than before, and to thrive means to enjoy the work and enjoy the rewards of it. You too can achieve all of your goals and more with these ten tips for accomplishing your goals:

1. Have a Goal – It’s one thing to have ideas about what you want to achieve and it’s another thing to have a focused realistic goal. Everyone can decide who they want to be, what they want their life to be like and what we would like to do and have. Goals are realistic dreams that you work toward achieving.

2. Believe in Your Goals – Believing you can achieve your goals is as important as working toward achieving them. Having a positive mindset each day will allow you to work towards your goals even during difficult periods.

3. Focus – You should have a list of short-term goals and long-term goals that you have thought through, careful that each one is really something that you wish to achieve, and that you are willing to do what it will take to make each one happen.

4. Visualize Your Goals – Think about each of your goals in turn, and get a picture of how things will be when you achieve each goal. Do this daily or twice a day in the morning and the evening, and make it a part of your daily routine.

5. Positive Notes Work – At the beginning and end of each day, you should write about what goals you are going to work towards that day. You can do this on a file in your computer or in a notepad. You can listen to music while doing it to involve both your logical left brain as well as your intuitive and creative right brain in the experience.

6. Live in the Now – When you start to worry about the future this can lead to thinking negatively about yourself, this can manifest into negative self-denigration. Fight this destructive way of thinking by stating the outcome you want in the present tense. “I have…” Write positive affirmations on cards you keep with you at all times, and read them aloud at least twice a day and when you start to feel self-doubt creep in.

7. Set a Date – A goal without a date is just a hope. Don’t be afraid to set a date down for achieving your goals. When checking your progress, you might decide to change the date, but having a date will keep you focused on what you want.

8. Have a Plan – Consider the date on which you decide to achieve each goal, and decide what actions you need to take to arrive at your destination successfully. Write down your plan of action, and keep it where you can see it on a daily basis. If you have an inspiration board, put it next to it.

9. Get to Work – Have tangible plans of action for achieving your goals and don’t let excuses keep you from doing what you need to do whether it’s making calls, meeting people or going places.

10. Accountability is Key – Find a mentor or an advisor who is willing to call and ask how you are doing, someone to whom you are willing to be accountable. Give this person permission to prod and encourage you if you are not doing what you said you would do to achieve your goals.

 

Set your Goals and Work Hard! Join The Now Lifestyle