What is Residual Income?

by Sarah Robbins

(My Mentor and Leader)

I didn't understand residual income until I lived it. If you're back at work today and aren't in love with your profession and the life you're able to design, maybe it's time you learned what residual income is.

It's also known as passive or recurring income, and it's different from a regular wage that's based on the number of hours invested in a particular job. Residual income continues to generate itself even after the work is done. This kind of income helps you earn more while working less as it continues to pay over and over for work done once.

If you're working a job and earning a salary (like I did as a teacher), there's a 1:1 ratio between the hours of work you put in and the dollars you earn. You stop working, you stop making money. You would only be able to earn more money by getting a promotion or working longer hours. For both of these options, there is an upper limit that can't be scaled.

Where do you find residual income? I found it in turn-key entrepreneurship. Is it easy? NO. I've worked hard for a few years, but on my terms and around the other parts of my life I love. And it's allowed me to design the life of my dreams, having compressed 30-50 years of work into 3-5, and retire my handsome husband Phil 35 years early!  - Sarah Robbins

If you're looking for more money, flexibility and to dream bigger this year, we should talk. I'd love to help you design the life of your dreams, too. 

Learn how you can be part of the fastest growing industry in the country!

What Made You Want To Be An Entrepreneur?

I was recently asked, "what made you decide to become an entrepreneur? Was it family flexibility? Was it more money? The chance to work from home?"

What made me want to become an entrepreneur was really all the above and more. I wanted the family flexibility, more money, and also be in control of my own destiny. I see so many people work so hard, long hours, and sacrifice so much of their own time and family time in order to achieve success. In order to maintain that success, one has to keep up that level of effort and time. Network Marketing gives me an opportunity to work for myself and control how much I want to work and when I want to work. It is not an over night success but with time, commitment, and belief in yourself, it can give you the financial freedom that everyone dreams about.

What are your reasons???

Network Marketing - Creating Solid Contacts While Giving Back to Others (Part 2)

When you think of network marketing, one often thinks in terms of meeting as many people as you can with the potential to expand  your contact list and spread the word about your business. And yes growing your contact list is important in growing your business even more so in the Direct Marketing Industry where word of mouth is the core of your business.

However, there is much more to network marketing than just growing your contact list, but also building solid relationships that will take you the distance. Change your perspective from what can I sell to this new contact, but rather, what can I do for them today. Is there something I can do to add value to their life or business? Positive experiences will lead to positive referrals to others, increased networking, and better potential for financial success.

Set Goals

Every day try to add a new contact to your network (1 per day would be 365 per year). Set a goal on how you can help someone within your network with a small thoughtful gesture either personally or professionally.This can be as often as you would like and are able to do. My personal goal is 2 x week. Sets goals that are attainable to you.

Remember: When building a relationship with a new contact, it is not what can they do for you, but what can I do for them. How can I make a positive impact in this person's life?

Discussion on the Book Beach Money - Creating Your Dream Life Through Network Marketing (Part 1)

My Personal Overview

I just finished reading Beach Money by Jordan Adler that discusses creating your dream life using networking marketing. It is a very light read that gives you lots to walk away with. The financial freedom Jordan talks about is building Residual Income for the long-term, so at some point your business runs and grows without you. This gives you more flexibility to work when you want to. On your downtime, while you are sitting on the beach your business is still making money and growing. Keep in mind though, network marketing regardless of industry or focus, is not a get rich quick scheme. Anything that promises you that, "if it is sounds too good to be true it probably is". Network marketing for success is about building solid good relationships and that takes time to nurture and develop. 

Next Week, I will be discussing more specifics about building relationships for successful newtwork marketing.


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Create a Vision Board

A great way to start the new year is by creating a Vision Board of your goals and inspirations that you would like to accomplish over the next year. By creating a vision board of pictures and words of all things that inspire you, research has shown you have a better chance of achieving your goals with better overall follow through. 

Some of the items on my vision board that I would like to improve on or accomplish this year are to inspire others, giving back, build my businesses, and be the best wife and mom I can be.

What are some of you goals and what do you do to achieve them?