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Saturday, September 19, 2009

The Delayed Gratification of Residual Income

You've surely seen those "Twitter Litter" tweets about making a ga-zillion (with a G) dollars in no time and by the way, it's so easy, right? Who believes that, anyway? Certainly not anyone making that type of income through their own business or anyone who has the fortitude to make it happen!

But, on it goes.

Today, I want to share some thoughts about the power of residual income and why you MUST be willing to invest more than 2 months and a couple hundred dollars into creating the dream lifestyle that you want.

After all, if it were THAT easy, everyone would be doing it, right?

What is Residual Income?

This is the ability to get paid over and over for the work that you do one time. It's also called "royalty pay."

There are very few businesses or industries today that pay residual income.

Musicians, authors and insurance sales people are a few professions that do earn a residual income.

If you were to write or record a popular song, each time that song played on the radio, or a CD was sold, you would receive a commission, or royalty payment.

Residual income in Network Marketing is income you continue to earn based on efforts you put forth initially. This income is based on the sale of products and services. And, these products must continue to generate repeat sales.

Residual income is desirable in Network Marketing, because this is what allows you to put forth a lot of effort in the beginning, and reap the rewards of that for months and years to come!

And, by building an organization of people working toward a common goal, you can ensure a strong residual pay-out that will last for years. This is why it is important that you understand this pay advantage, and invest your effort, energy and time in other people.

Earning residual income requires a few things - first that you take action to get momentum going in your organization.

Second, you continue building on that momentum, and teach others to do the same.

Third, you are willing to invest the time, money and energy that it takes to develop the business group and the business skills needed to create something lasting.

Finally, to continue on the note above, you learn and develop leadership skills that will provide the foundation that supports your entire organization.

This part is critical. You can get lucky for a little while, but to really build something that last requires developing skills.

People follow people, and leadership skills are developed. Leaders are created, not necessarily born.

In the beginning, you have the "privilege" of working lots of hours for a little pay. In the end, you have the "joy" of working little hours for lots of pay.

People ask me all of the time how much I made my first month in the business. The answer is – “I don’t know. I don’t know because I still get paid each and every month on the efforts I put into that very first month.” That’s the power of residual income!

Get started and then build on your efforts each and every month.

Be a leader of others and watch the residual income roll in.

But most of all, understand that it takes TIME for any organization to build and develop to the point of creating what you want. It takes time for you to contact, sponsor and train a first level. It takes time for your first level to duplicate this.

It takes time for your second level to duplicate this, and so on.

Enjoy the journey and I promise the destination will be priceless!

EXPECT Success!

Jackie Ulmer

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