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Building a Residual Income
| Guest post by: Ghyslain Lefebvre |
Article Overview: Most online marketers always focus on the short term income they make or they can make when a real successful entrepreneur look at the long term possibilities or in other word at the big picture. Building a residual income is what makes you able to quit your job so let’s examine this a little closer.
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Free Download - The 5 Key Components of Every Top Producer in Network Marketing By Ghyslain Lefebvre |
Building a Residual Income
Most online marketers always focus on the short term income they make or they can make when a real successful entrepreneur look at the long term possibilities or in other word at the big picture. Building a residual income is what makes you able to quit your job so let's examine this a little closer.
The principal of building residual income is to build a very strong team and be able to enjoy the residual income from your group for a very long time. So the idea is to work once and get paid for the rest of your existence.
IF you make money or not now is irrelevant, looking for long term security is the goal. Build a residual income of $30,000 + a month. Find a way to achieve that. Think about this, that is $360,000 a year, can you survive on that salary when you retire!!
So at first, that may mean closing sales for your members or customers. That may mean holding hands a little bit at first but keep thinking of the big picture. Once they hear you make a few sales for them, they will thrive by themselves later.
The one thing you must keep in mind is in order to be able to build a team that will provide you with long term residual income is you must become a leader, a mentor for your team. Learn the skills and become a great leader for your people.
Only the most persistent and consistent online business owners makes it in the online business industry, it may take a few tries to be successful but if you stick to your guns and refuse to fail, in the end, you will be a 6 figure income earner and do what you like, when you want no matter cost is.
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Article Tags: home bases business, market business, online business, online business systems, online marketing, Residual income, start an online business, successful entrepreneur
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About the Author: Ghyslain Lefebvre RSS for Ghyslain's articles - Visit Ghyslain's website
Ghyslain Lefebvre has been an internet marketer since the beginning of 2009. After 6 months, he became successful and started working full time. His team is from all over the world including Israel, UK, Canada, US and much more. Now he shares what he has learned with other like minded individuals.
Learn how you can turn your yearly income into your monthly income working from home with or without internet or marketing experience. Visit http://7figureincomethisyear.com/ or Find Freedom Here
"My happiness depends on your success" Click here to visit Ghyslain's website   How to Create a Blog for my Business Online Marketing 4 Tips What to do with Article Marketing What does a good leader need or look like How to use Facebook for Your Network Marketing business |
Related Forum Posts
Re: What are your success criteria?
- [quote="DwayneGarrett":1igrdgib]Out of curiousity, what has to be present for you to know that your business is a success?
The top three things for me are:
1. Maintaining a 6 figure income year in and year out.
2. Creating and promoting my own products.
3. Income not solely dependent upon my personal effort.
How about yours?[/quote:1igrdgib]
I would have to say mine were:
1. Monthly Residual Income that exceeds all expenses by 110%
2. Free time to create and promote my own products (relies on #1)
3. 5% of all revenues generated by my team going to feed starving kids
Now that is "feel good work".
Type of business with building
- If you owned a building and Wal-Mart was opening its doors across the street in a previously unoccupied area (along with 12-14 small shops), what type of business would you start?
Here are the considerations:
1. Money is a non-factor
2. Building is fairly large (10,000) square feet
3. Building is on the corner of a busy intersection (about to get much busier)
Re: What are your success criteria?
- 1) Ability to provide for not only my family but their children and their children's children. I would setup education scholarships and also business venture grants to help the young kids in my family.
2) Residual income that is not dependent on my continual efforts
3) Quality time to spend growing the business as well as time to spend with family
4) Ability to create and fund an organization that empowers others to help those in need.
The whole goal is when I leave everything should be able to sustain itself and continue without my help. That to me is success.
What are your success criteria?
- Out of curiousity, what has to be present for you to know that your business is a success?
The top three things for me are:
1. Maintaining a 6 figure income year in and year out.
2. Creating and promoting my own products.
3. Income not solely dependent upon my personal effort.
How about yours?
Re: Seven Marketing Strategies To Attract The Affluent Buyer
- Hello,
Building confidence with positive communication skill is very helpful and it helps in attracting consumers.
Regards,
sarah_9
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