Power of Residual Income..for Small Business
Create Growth – The Power of Residual Income.
The Power of residual income through being an entrepreneur is not about how many business you have started … It’s about your mindset, and being willing to shift and learn.
When you start a small business, you start off by ask yourself..
- What are you really good at?
- What do you like doing?
- Is there a BIG market?
In my case, the answer to all three, was a massive YES. I was a hairdresser, I was great at it! (more so the technical chemical area) I LOVED what I was doing and yes there is a BIG market…. One thing missing -understanding the Power of Residual Income.
Problem Set In.
Took some time but I finally woke up and looked at – Ego Versus Bank Account. What I was doing had no power of residual income.
For many years Ego runs your business. Fortunately for me, I had a light bulb moment, I realized to scale up my revenue for the long term, things had to change. I had to build through the power of residual income – leverage.
That was all well and good, late 90’s early 2000.
Since then technology has impacted small business in massive ways, yet many still rely on trading time for dollars or ego versus bank account. And minimal connection with power of residual income….. leverage income.
Leveraged income; by that I mean income that comes into your bank account whether you work or not. Like compound interest, rental income, investments…or earning money while you sleep creating long term security for your family.
Scale Up Your Revenue-
How can you increase your revenue without increasing your headcount?
Cost of running a business can be challenging today, particularly if you have not done your homework!
3 Main Ways to Make More Money..
- You have to charge more
- Get more clients
- Or you have to sell different products.
To charge more you have to add more value on top of what you are already doing. To get more clients you increase your costs increase in many areas which then eats into your profits.
OR- You can “Get Leverage”.
Let’s face it, with many products today you can go online to purchase: Hair products, Fashion, Foods, Real Estate, Insurance, Health & Wellness and the list keeps going on.
Now I’m not bitching about it …. It’s great!
Technology today is allowing everyone to get far better value…. Only problem, it puts a gap in the middle man’s income stream.
That is you the “traditional shop front”!
Skepticism Kicking In?
I hear you, so much hype online hard to know what is real or not and do you really have time.!
That is the key…..
If you want to be financially free you cannot give yourself excuses.
- If you knew for a fact you could scale up your revenue through selling different products which didn’t interfere with what you are currently doing…
- If you knew for a fact the power of residual income could set you free…
Would you see yourself open to new ideas…?
P.S: If you see yourself open to New Ideas then CLICK HERE.