So how do the rich make their money.....and so much of it? Well of course there are many ways to become rich. And the definition of rich is actually different depending on who you ask for that definition. But most people would include.....enough money to pay the bills, have a nice house and cars....and spend lots of time traveling with family.
Well let me tell you a little story about two families....and the drastic difference in income styles.
The first family was a mother and wife who had her little business that she shared with her husband. Her husband ran a bakery where he worked long and hard hours every day running the family business. One day he got sick. He ended up with a very long and drawn out bout with kidney disease, that ended up with a kidney transplant.
But this all occurred over a long period of time.....more than a year. The result for him and his family business is that without him.....the business came to a screeching halt. Along with the primary family income.
On the other hand, his wife and he shared another income through an MLM business. But it wasn't any old MLM. This one actually had a great pay plan whereas most of them require stiff monthly sales requirements in order to receive a pay check. But she was wise when she sought out an extra income for her family.
And her wisdom paid off big time! You see every single month that she spent with her ailing husband....every month while she spent in the hospital with him.....they still got a check.
At first it didn't dawn on her what the real value of this meant because she always got checks. But after a few months of doing absolutely nothing......she kept getting pay checks in the mail. And in fact....her business grew during this time as well.
What an awesome story! About the income that is.
But then there is my story. I got sick and spent a month and a half in the hospital.....and then about a year recuperating from that illness. And no checks in the mailbox. And during this time....when I got sick.....I had one active client and one really great client that was expecting a huge amount of work.
I ended up losing both of the clients when my illness struck.
I ended up losing both of the clients when my illness struck.
Wow.....what a difference! My conventional wisdom of being a consultant to the stars so to speak.....and financial ruin.
And then this woman's wisdom of having multiple incomes of which one of them was a residual income. In addition....her business got bigger when she left it for a while.....where as my business collapsed.
So how do the rich get rich? There are several concepts and many different ways, but here are a few:
- Tap into a small percentage of a lot of peoples efforts
- Have multiple streams of income
- Get paid a small percentage of a large amount of sales
- Focus on incomes that grow on their own.....and receive royalties from those incomes
Now those are just a few as an example. Ask yourself this simple question....who do I know that does this?
Most of you will not know of anyone.....and if you do.....you know very few people who do this.
In the story above.....I was introduced to this woman after my financial world was destroyed. And while I was in hospital and then recuperating for a year.....creating multiple, passive or residual incomes is pretty much what I thought of. And I still do today except now I have decided that I want at least 5 income streams for my family.
Note.....I did not say 5 JOBs! Some income streams take very little effort to keep them going and growing!
Note.....I did not say 5 JOBs! Some income streams take very little effort to keep them going and growing!
When I was introduced to this woman and I spoke with her, we sort of laughed at the difference our lives took because of our situations. But now her husband works right along side of her while building their MLM together and full time. And that income has exploded....and they know that if anything happens.....the income will still come in.
And for me.....well the epiphany or new way of seeing things has me pursuing these types of income as well.
One of those incomes are being developed from my Favorite Sales Lead Software and the very nature of this business allows it to grow later on all by itself.
And to qualify for continued paychecks is one very easy act......and that is the first sale. Because it is a traditional 1 up compensation plan....your 1st sale qualifies you.
That's it!!!!
After that, if there are new sales from your previous sales, because they are someone else's qualifying sale.....you just keep getting paid. If you had 10 sales.....and those 10 people made their qualifying sales.....you get paid again. You get paid 10 more sales that you didn't even do. It is residual. And if those 10 also make 1 sale each.....then you get paid 10 more sales again.....and it keeps going.
And to qualify for continued paychecks is one very easy act......and that is the first sale. Because it is a traditional 1 up compensation plan....your 1st sale qualifies you.
That's it!!!!
After that, if there are new sales from your previous sales, because they are someone else's qualifying sale.....you just keep getting paid. If you had 10 sales.....and those 10 people made their qualifying sales.....you get paid again. You get paid 10 more sales that you didn't even do. It is residual. And if those 10 also make 1 sale each.....then you get paid 10 more sales again.....and it keeps going.
And that's what residual income looks like. It's kind of like a rock star making an album or CD. Every time someone buys a CD or album.....the rock star gets paid again. Every time someone down loads a song from iTunes.....the rock star gets paid again.
That's how they get rich. Residual Incomes are how some rich people get rich right? But rich people do it over and over again. And if they are doing great, they put even more effort into it. Same with the rock star. If they are banging out top 10 hits.....they make more albums....and more singles....and keep doing it. They work hard while their time in the spot light is bright.
Many folks see this vision and they may have a job and then they also start some side business. Maybe even an MLM business. But sometimes it doesn't work out exactly how they thought it would. Or maybe it just takes some time for it to kick in.
Take a tip from the rich folks. Create MULTIPLE incomes!
What I love about my Favorite Sales Lead Software is that it compliments other efforts and in no way interferes with other things that I am doing. it ADD's to what I am doing.....and doesn't make what I am doing any less effective.
For example, I am also an insurance agent now. I deal with small businesses all day long. I use my software to get those leads.....and a never ending supply of leads. So it doesn't take away from my job at all. And when I talk to these business people I find out how their business is doing. And if they tell me that they are slow or are having trouble getting new business.....well I show them the software. And I show them how they could use it to bring in new business. Oh and of course....by the way....if you refer it to two or more of your friends that could use it for their business, you get yours for free!
But the point is that this helps me with the other business......and goes right a long with it. And again.....my goal is to have 5 separate incomes.....and most if not all of these 5 incomes, must have a residual income aspect to them.
Now because I was destroyed financially I am naturally being more aggressive with this goal. I could teach you quite a bit if you wanted to tag along and build your business with me. The more the merrier and I would even teach your people in your business. It takes the same effort to teach 1 person as it does to teach 1,000 people.
But when I say I am aggressive.......that means that I will probably out run most people that I come in contact with. But as my team grows and perhaps you join in and grow with it.....you will see exactly what I am doing and how I am doing it. So you get to have the opportunity to run as fast as I do.....or faster....or slower.
But what ever the case.....I will share everything that I do.......so that you and your team can do the same.
So if you want to take a step towards having a residual income of your own.....or better yet......adding another income to your multiple incomes that you have started to build already.....then take a look at my Favorite Sales Lead Software and see how it may just help you, like it is helping me.
And as always....I wish you the very best in your business ventures!
