I am speaking directly to YOU if you’re ready to impact people for the better, whether through your online business or your social media following or your local network, This. Is. For. You.
I want to give you all my secrets for making a residual income (and why).
Why are influencers partnering with network marketing companies?
Why am I selling shampoo?
What does this mean for YOU and your family?
And how are we doing it?!
I want you to embody the same kind of success you dream of having.
If you’re having crazy success already, this will help move you even further! And if you’re struggling right now, this will lay out a step-by-step action plan that can help you!
Step 1: What is residual income + Why is it important
Most people have an active income stream, meaning they’re working a certain number of hours to make a certain amount of money. It’s like trading hours for dollars: You put in the work, and the company you work for (even if it’s your own service-based company) pays you.
Now, think about this:
What happens when you get sick?
What happens when your kids get sick?
What happens when you need time off for a last-minute appointment? Or an emergency?
...Do you still make money?
Most people have to go to work every day to make money, and they feel pressure to show up every. single. day.
Even after I started working for myself, I felt this same pressure, because I had to show up to work to make money. I created an active income stream with two different service-based businesses. First, I worked as an online running coach, and then I worked as an online business mentor. That means that people would come to me for the services I offered, and I had to put in hours to make money.
Here’s the problem with that: If I wasn’t getting clients every month, the income didn’t happen.
That’s a scary place to be. And I know that’s where a lot of people start to feel trapped within the job they’re working.
This is why residual income is important.
Residual income is money that you make passively, not actively.
Now, you have to put in the work up front (and there’s sometimes a lot to do). But then your income has even greater ability to grow without you, month after month after month.
(Even if you love your job and that active income stream, adding a residual income stream is a great idea! Most successful people have at least seven streams of income, including something more passive.)
Step 2: How to start a residual income stream
This is what my team has been doing over the past few months. Here’s our step-by-step process for creating passive income:
#1. Embody success and leadership.
This might sound a little foo-foo, but it’s true! You have to believe that you have something important to offer, and you have to be willing to live that out every day.
When you look at successful people who are influencing the masses, you know they didn’t get to where they are now by just winging it. They take care of themselves: They eat well, they work out, they’re spending time with their families, they keep up with professional development, they’re tracking their success.. They are doing the things that matter.
You have to become the person you dream to be, right now.
Too often we think, “Well, one day, once I’ve made it, then I can spend more time with my kids,” or “When I’m successful, then I can look/be/feel a certain way.” Uh-uh. It’s doesn’t work that way! You have to BECOME the person you dream to be to get where you want to go, period.
You might start by doing something simple for yourself:
Paint your nails and go for a run.
Get eight hours of sleep.
Drink more water.
Spend an extra hour with your family.
This is my daily routine: Every morning I wake up and start my day with a daily devotional and prayer. Then, I write down my goals (every. single. day.).
I also make sure to schedule time to do the things that are most important to me: Working out, eating well, spending time with my family, reading for professional development..
That doesn’t mean you have to have all your stuff together asap! It just means that you know where you want to go, so you’re no longer just winging it.
Start today. Choose to be successful today.
**This might sound overwhelming, but I promise that it’s possible, especially if you surround yourself with other people who are doing the same things!**
#2. The Building Phase of Business.
This building phase will come naturally (if you have the foundational elements in place from #1).
Your business starts with vision (and it can’t be only about making money for yourself).
Maybe you’re working hard to provide for your family, your children.
Maybe you’re working hard to give other women like you the same opportunities in business.
Maybe you’re working hard to make money so that you can give to causes and organizations you really care about.
You have to cast a vision! You have to take people somewhere!
You can’t start a business without knowing where you’re going. Your clients and followers especially need to see and feel why you’re doing what you do.
Again, that doesn’t mean you need to have the world figured out today! It means that you have to have an idea about where you’re taking the first step.
Another part of the building phase is your education: Get training in heart-centered recruiting and sales.
Remember, the hardest customer to sign is your first one. And you need training (and willingness to be trained!) to make it happen.
When I started my business, I couldn’t sell a $25 running program. Now I’m selling $2,000 coaching packages and attracting new partners to my network marketing company every single month.
This is about understanding the transactional relationship between you and your customer. And remember that this is a mutually beneficial relationship: You’re offering something of benefit and receiving benefit in return.
#4. The Leading Phase of Business.
This happens in both network marketing and outside it. You will have the opportunity to build and lead a team. Now you have to teach people how to do what you’re doing.
Leadership is a big transition, but it really looks like serving.
You have to ask your people, “How can I serve you? I see that you need help, and I want to help you.” And then LISTEN to what they say (that’s a major part of service, too).
#5. The Automation Phase.
This means that you work really hard for a little while (maybe six months, maybe a year), and then you’re ready to scale and automate with systems.
This phase lets you bring in new customers on autopilot so you take a step back from working every day.
Automating your business will help you simplify your life and business so you can have the time freedom you desire.
Step 3: What does this mean for YOU
Do you have a residual income stream already, or are you trading hours for dollars?
If you’re reading this, I assume you’re interested in creating residual income for yourself, your family, or your business. And I want you to have that opportunity!
There is no better feeling than taking time to be with my family, and then realizing you’re making money behind-the-scenes!
My Team has the process ready to go. We’re just waiting for you.
Sign up for our free webinar to find out more about how you can create a residual income for your family. You’ll learn my Team’s Social Media Secrets for building a network marketing team in less than six months (not including cold messaging and spammy sales).
Hope to see you there!