Posts Tagged ‘Richard Branson’

How to set up a residual income business

September 9th, 2009
Work on Mona Lisa begins.
Image via Wikipedia

A residual income business is one that will make money for your family even after you are gone. In today’s uncertainty, setting up a residual income home business is not only a practical idea, it is even necessary. But how does one identify the right residual income business opportunity?

Frankly, this is not the right question. Why? Because to earn residual income the key is not the business itself, but in fact the person. YOU. You are the one who first needs to tune your mind in that way before you tap any residual income online or otherwise.

What would this mean? Let me share an example that I know very well… it is mine 🙂 I have been a consultant since 1992 and have always had a mindset that "one has to work to earn". The fact that such a mindset is not fertile ground for "earn even when you are dead" never occurred to me. And neither did any residual income.

So one day, reading Robert Kiyosaki, this flashed like a 10×10 red neon sign in my brain. Bing!! And I stopped active consulting and started setting up systems to manage the consulting company. Started creating intellectual assets that anybody could work. And you know what? My house went on rent and we moved to inexpensive accommodation closer to family.

Residual income just falls in place. This how energy flows . You don’t ask… "hey but this is not residual income from consulting – this is residual income from rent…" That is how the universe provides. Once you flip the switch in your mind, residual income starts. Soon after, it started online for me. Today I own an asset based ecosystem to do the work. And here’s how any big business owner sets it up…

Think of a residual income business like Art. Paintings, you know, Mona Lisa etc? Right. They are assets. And they can feed your family after you. Now if you have a left-quadrants mindset, you might buy a half dozen art pieces and display them around. But if you are into the right quadrants (where real residual income and wealth exist), you would think of having an art gallery. Now let’s stretch our visualization a bit…

imagine you can afford only a couple of paintings… but you like the concept of residual income and dream of a gallery. What could you do? Well, you could take a warehouse on rent and plaster the walls, light it up well, and invite artists to display for free. Your total investment would be as much as the cost of a couple of paintings. But you wouldn’t buy the paintings… instead you would buy plaster and lights. And people around you would say you’re dumb. "Haha… don’t you know you use paint for paintings, not plaster". Hmmm. They said such things to Sir Richard Branson and every other b-quadrant business owner too.

Nose to the ground, you would then create an attractive entrance gate and encourage some of the local neighborhood to set up a little galleria with hoity-toity stuff. You would promise them good traffic in exchange for a little commission. Win-win. Nobody pays out of pocket. You might even have an entrance ticket so the rowdies don’t get in to muck up the ambiance. Right?

Next, you would focus on getting people to visit. Even passers-by would be attracted by the commotion of the galleria and most would fool around… some would buy… and a few may even step into the gallery. Very few may even buy the art pieces! What a concept (!)

But you would make money from the entrance tickets, the galleria, the lighting systems (you would display a few for sale to people who want to have good art-lighting in their homes) and of course, from the art. Everybody would be happy for their own reasons (except the people who expected to buy a Mona Lisa original in the galleria… they shouldn’t have bought the entry ticket in the first place).

Are you able to picture all this? Great! You are already tuning your mind with this little exercise! So even if you are a "passer-by", you will leave this article at a whole new level if you study all the links below.

Now let me give you online analogies. My entrance gate looks very appealing to network marketers. On this planet networkers are the most open minded community of people who are harbingers of dramatic economic change in the coming decades. Please read an article here in case you don’t understand why I write this.

My galleria is various affiliate products – most of which I also use – that help educate on internet marketing concepts; generating leads (driving traffic in), emailing , building lists , using google smartly , pay-per-click advertising , building relationships , using videos for marketing , developing the success mindset etc.

My art gallery is the a business system where the rich and famous art collectors congregate and exchange ideas, paintings, rewards. They also buy lighting systems and learn concepts of setting up their own art galleries… thanks to some phenomenally powerful meetings and interaction.

And finally my art pieces are put together by some wall street and industry gurus who educate people on wealth . This knowledge is a permanent asset (as also the compensation plan).

And what do I do? Innocuous little things… Like making friends on facebook… Creating interesting articles and ads… Dreaming with people… Guiding them though options… Sleeping, while someone buys art or it appreciates… And importantly, thinking of what to do next with the shed beside the warehouse 🙂

So think about you. Will it be a couple of paintings you save for life? Or would you be looking for a shed instead? Your thinking will shift the paradigm forever!

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