Edward Wright (who is much slimmer now) some years ago pulling apart my old Dell Laptop. He is one amazing man and we have both grown in sync. Today’s conversation, Residual Income and it’s Importance!
Please relax my awesome friends. I am not going to sell you the benefits of the Amway System, suggest you turn yourself over to a higher power (although I am Christian and think JC rocks) and I can totally promise you that I won’t be coming at this from a “Rha Rha” American Viewpoint of Spirituality and Infinite Abundance!
It think those so called “Wealth Speakers” mostly suck actually and their whole theology is built to get you through a Sales Process and is certainly not to the betterment of your life. I am more talking about “Residual Income” in a pragmatic business sense and the importance of it.
I had a great chat to my fine friend Edward Wright today. He was one of my first clients ever, is my Awesome IT Guy and I have seen him go from struggling to pay his rent to putting on staff and creating an amazing life for him and his family. Both Edward and myself have often been in “Sync” with our challenges in Business.
Be it people ripping us off, making changes against fear to make business stronger, picking up awesome clients and getting really busy and capping out our incomes.
Being in the IT Hardware Business, for Edward – hiring staff is his means of scaling up and for me it’s been an Online Product type of challenge. Basically for us individually our “Day to Day” business are fun, awesome and are generally full of clients, events and things we need to do.
We have found that once you get established, it can be very easy to “Take Off” and it creates the problems we all want. You have so many clients you are now successful! What is also creates is a set of new problems in that your salary can only go so far and it can be very tiring if your income is say “Effort for Money”.
About 18 months ago, I started my “Online Automation / Residual Income” project and although it’s not as fast as I would like (where is my Audi?) – it’s going really well and I am satisfied with the results. What I have learned is that when you are in business, you can get to a point where the business can simply become static. That is, you just can’t grow anymore and unless you invest in systems, processes, infrastructure and automation – there is no way you are going to grow or reduce your hours! (Without losing money).
For me, it’s been a marathon effort of Facebook, Blogging, Email Marketing and Building my Online Products. For Edward Wright, it’s been hiring staff, for Heath and Jedda Thompson – it has been growing their Isagenix Weight Loss / Health Portfolio (which creates great residual).
For me my results are less actual “Physical Selling” in that leads are coming to me from my online activity and I love it! As I progress, my goal is to keep my online revenue growing and growing to make my life easier, more profitable and to enable me to serve more people.
My advice & thinking? Residual income is very powerful! If you are say working directly for money, it’s great – but I don’t think it’s the most sustainable model (and it certainly caps out). Regardless of the industry you are in, it’s really important to think through how you can scale what you are doing and improve your residual income. Is it adding in products? Workbooks? Hiring Staff? Getting bigger clients? Always great to think of these things.
Here here to Automation! Love your work and thanks for the read!
About the Author who loves Automation & Residual Income:
Edward Zia is a Marketing Mentor, Consultant, 4Networking Leader, Speaker and Lover of Awesome Entrepreneurs and Small Business Owners based in Sydney Australia. He spends his days helping the business community with Ideas & Strategies to help his clients get more profitable clients with greater ease, success and automation.
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