I tried to explain that if he saved money off the phone bills, then he could use that money to help with the house payment!
He came back with that his phone bills are somewhere around $70 to $80 and that his house payments are near $700 to $800. If you can't help me with that, we have no reason to talk!
At that moment I gave up on ever making him part of my downline and went to the next person on the calling list.
Now, years later and I see that I didn't take into account his needs, his need for help with his mortgage payments. I didn't speak to his money needs!
So, now, I take into account people needs and how can this help them with their money issues.
- How can this help them?
- Will it save them money?
- Will it make them money?
- WIll it find them noney?
- Will they need to spend money to make money?
- How much money must they spend to make this money?
Money, money it makes the world go around!
Lets be up front... to run a business it cost you money and time. As they say, "time is money".
Every thing we do either cost or makes us income. The trick is to make more then you spend. A lot of the time the only way to do this is to spend less. So, we look at our budgets and see what we can do without!
Every thing we do either cost or makes us income. The trick is to make more then you spend. A lot of the time the only way to do this is to spend less. So, we look at our budgets and see what we can do without!
- OR-
You look at how we can bring in more income. You can always get a second or third job, rob a bank or even win the lottery! But, there is only so much time in the day, going to jail isn't an option and the lottery... well we're trying to save money!
-OR-
We can look at making 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 earning: linear income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary.
The easiest way to understand residual income is by looking at a writer or an author. This person pours their heart and soul into a book. they then give it to a book agent (if their lucky enough to have one), who then goes to some book publishers. If, and this is a big if, if they bite'... you're published!
By some huge chance the book gods out there grant your book a number one best seller spot!!
Now from all this work you get a residual check from the publisher for the rest of your life.
From one book (the initial effort) you generate recurring income.
Unlike a widget which you have to keep making over and over and over again. This widget takes time and effort plus resources to make over and over again!
Now paper books take time and effort and resources to make over and over again! They have to be shipped, people have to be talked into selling them for you and etc. and etc.!
Same idea with music, movies and TV.
But along came the internet, the world wide web! From your home to the whole wide world you can publish in-house your ebook, emusic, emovie and eTV!
Your own homemade recurring 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 earning: linear income, which is "one-shot" compensation or payment in the form of a fee, wage, commission or salary.
The easiest way to understand residual income is by looking at a writer or an author. This person pours their heart and soul into a book. they then give it to a book agent (if their lucky enough to have one), who then goes to some book publishers. If, and this is a big if, if they bite'... you're published!
By some huge chance the book gods out there grant your book a number one best seller spot!!
Now from all this work you get a residual check from the publisher for the rest of your life.
From one book (the initial effort) you generate recurring income.
Unlike a widget which you have to keep making over and over and over again. This widget takes time and effort plus resources to make over and over again!
Now paper books take time and effort and resources to make over and over again! They have to be shipped, people have to be talked into selling them for you and etc. and etc.!
Same idea with music, movies and TV.
But along came the internet, the world wide web! From your home to the whole wide world you can publish in-house your ebook, emusic, emovie and eTV!
Your own homemade recurring income!
Posts
No comments:
Post a Comment