Most of us work very hard to make a living, but it’s really trading time for money. It means providing our time to someone else or to our business to generate enough revenue to live off.
And there is only so much time in a day.
In this fast paced world, time is more important than ever! Your time, your customer’s time, your friend’s time, everyone’s time. You hear it every day.
“I don’t have time to look at it!”
“I don’t have time for myself!”
“There’s not enough time in the day!”
Most of us do not manage our time very well, if at all. You also hear these other comments…
“I wish I had more money.”
“I wish I had enough time.”
“I wish I had more freedom.”
Unfortunately, many people have given up on their dreams and are just living day by day, paycheque to paycheque, with no hope of getting anything better in life or out of life.
They do not see a way of getting off the hamster wheel that they are on.
What exactly is residual income?
Residual income (also called passive, or recurring income) is income that continues to be generated after the initial effort has been expended.
Compare this to what most people focus on – linear income, payment in the form of a fee, wage, commission or salary.
Most people get paid for their time and effort. If they do not show up for work or their job, they may not get paid. If they don’t make sales they don’t get paid. If someone does not use their services, then they don’t get paid.
Linear income requires all your time and effort – residual income does not. What residual income requires is that initial investment and initial time and effort that brings the ongoing passive residual income.
And more importantly, residual income provides more security than the linear income model.
What happens if your job suddenly disappears?
What happens if you become sick?
What happens if you get downsized?
Does your income still come in with a linear job?
So let me tell you my story. I used to run a franchise.
I had to show up every day, to ensure that franchise provided products and services that people wanted. I was tied to the franchise and often had to work extra hours for staff that called in sick or simply did not show up. It was a linear income situation.
Later on I would join a corporation and work “corporate hours”.
Once again this was a linear income situation where I was being paid for my services Monday to Friday, 9 am to 6 pm (more like 9-9… even though this is what my contract stated!) The proverbial rat race that many people face.
Rushing to work and rushing home, day in and day out.
When I started my family, I knew that I did not want this.
I wanted to spend more time with my kids, rather than someone else spending most of the day with them. That is when I learned about residual income and the network marketing profession.
I was fortunate that my sister introduced it to me. She knew my situation and believed that this model could be the vehicle for me. At first I was reluctant, but as I researched the business model, I knew she was right. It would give me more time with my children but at the same time still provide an avenue to go after my dreams.
So I decided to jump into it, even though I didn’t know everything there was to know about it. But, with determination and following the guidance of my success leader, I knew it was the right thing to do and started to see the potential.
Today, I have been building teams all over North America for over 15 years and loving it.
The revenue I have generated through this leveraging business model, has allowed me to grow another residual income business in real estate income properties.
And the beauty of it is, it doesn’t matter where I live. So, when I’m on the beach, at least I know the income is still coming in.
“The richest people in the world look for and build networks, everyone else looks for work.” – Robert Kiyosaki, Author, Rich Dad Poor Dad
So how does residual income change everything?
If you want more time to pursue the life that you want, staying in the linear mindset will not get you there. Sure you may have a comfortable life, but you will never reach your full potential.
Only through residual or passive income will you be able to do more, to achieve more, to leverage more and to be more. It leads to full self satisfaction and peace of mind.
A couple of years ago, I had to spend several weeks in Alberta with my Mom while she was in the hospital and then on her death bed. I’m so grateful for my residual income that I didn’t have to worry about income and taking time off from a job.
This gave me peace of mind during this difficult time.
So I urge you to get into the residual income mindset. By doing so, you will leverage others and grow your income stream. You will also have greater potential in meeting your dreams and living the lifestyle that you want.
This is a truly a win-win business model and as the famous Zig Ziglar says – “You can get everything you want in life, if you just help enough other people get what they want.”
If you want to know more about residual income and working with me, click here.