Passive Income Can Be Difficult, How to Make the Most of your Mistakes When Starting a Passive Income Business

When you start any venture it can be difficult, especially when it comes to starting a business where you get passive income.  Passive income is the best kind of income to make but it is difficult at best to achieve.  There is a high failure rate when it comes to making passive income.  Could it be because if the way people handle their failure.  Failure is actually good for success, but we have to be able the handle it and learn from it.

We must examine our failures with an eye toward future success.  Reflective thinking is a way that we can reflect on our failures and push ourselves forward.  We can always get better, and reflective thinking is a way to do that.

Here are five steps to a reflective thinking technique that I found by John Maxwell.

1.    Review, Look back at the events of your past.  Set aside time when you have failed to review what happened.  What caused you to fail and how did you learn from that mistake.

2.    Reflect, Have a place where you can think about what worked and what didn’t.  Examine it in more detail.  What plans worked?  What decision yielded good results?  What decision ended up being wrong?  If I were to approach the situation again, how would I do it differently?

3.    Recover, When things don’t turn out as planned you need time to recover.  Everyone makes mistakes.  Letting yourself feel bad for a short time can motivate you to fix what needs to be fixed.  Don’t stay there though you have to move on.

4.     Rearrange, Get clarity about your priorities.  Now that you have failed, decide which way you should go and start down a new track.

5.    Recharge, Dwelling on the past with an eye toward the future allows you to rebound.  It often reveals the humor in a situation.  Go ahead a laugh at yourself.  Get going again and work toward avoiding previous mistakes.

Reflection can be a time of excitement and creativity.   It’s a chance to brainstorm about the future and what it could be like.  It inspires you t continue improving.  It keeps you progressing as an individual and as a leader.  So reflect on your mistakes just long enough to shape your future in positive ways.  You can become successful in your passive income venture if you just never give up.

Want more on becoming successful in your passive income adventure. I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Residual Income, 5 Mindset Traps That Derail you From your Success in Making Residual Income

How many of us have tried to make a residual income only to fail?  I know that I have failed so many times.  For the last five years now I have tried to make residual income only to fail.  It isn’t until recently that I discovered the true secret to making residual income from home. 

When it comes to making a passive income you will have several mindset traps that keep you from being successful.  Many of them are just things we tell ourselves that aren’t really true.  They aren’t true but we still tell ourselves these things that keep us from achieving success. 

Here are five mindset traps that will derail us from our success.

1.    Comparison!  We are social animals and we all compare ourselves to others as we seek success.  This is very prevalent now with social media.  We all like to share good things the happen to us on social media.  Whether it’s a business win or something inspiring we want to share it.  This is good in a way because it can inspire you to keep taking action in your life.  In another sense, it can frustrate you for your lack of perceived progress.  Your journey is personal so you can’t measure it against some else’s progress.  Set your own goals and seek to achieve them.

2.    Self-doubt.  Doubt and fear are in each of us.  We all fear failure or looking bad when we make a mistake.  These self-limiting beliefs can easily derail your progress.  You can prove yourself wrong by ignoring the noise and taking action.

3.    Negative people.  You have probably heard that the people you associate with will affect what you believe and what your do.  It’s true.  Negative people can’t see what they are doing to other people.  If you listen to them over and over again it will affect your mindset and attitude.  Cut the negative people out of your life if you want to make progress on your journey to success.

4.    Lack of Inspiration!  The road to success is long and you need constant motivation to keep you focused.  Because of the internet there is an endless supply of inspiration.  There are blogs, podcast, YouTube videos, and much more.  You need to set aside some time each day to get inspired and stay motivated.  This will help with the negative influences and self-limiting beliefs.

5.    Waiting!  We know that we are going to die someday.  We don’t know when that time will be.  All we have is today, right now.  Today is the day to start, to push forward.  Don’t tell yourself that you’ll take action later.  That will not lead to success.  TAKE ACTION RIGHT NOW!

The only way to become successful in any residual income business is to get rid of the mindset traps that keep you bound.  Now is the time to change your mindset and get started.

In order to become a success you need to get over the mindset that is blocking your potential. I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Compounding Your Income, Your Income Compounded vs. Your Employee Income

What exactly do I mean by compounding your income?  This is what it means.  It means that you compound your efforts with others efforts in order to make an income that will become very significant over time.  It means using other peoples talents to not only develop and income for you, but also an income for them.

Your income compounded will grow exponentially over time.  When one person helps you and they add ten people and then those ten add ten more you can become very wealthy over time.  That’s not the way it works with employee income.  Employee income only depends on the work of one individual, that’s you.  You work for it and you earn it.  Once you make it you make it you have to do effort over and over again in order to continue to receive income.  Once you get so you can’t work or you get laid off the income will stop. 

That’s not the way it works with compounded income.  Once you make it, it will pay you over and over again.  There are several ways to make compounded income.  There is royalties from music, videos, movies, books, and such.  That is a great way to make a residual income if you are talented and lucky enough to be able to get your book or movie popular.  You do the work once and then you can make residuals for many years to come.  The problem with this kind of income is that it will diminish over the years.  The older the book, movie, or video becomes the less it is played.

The other way to make compounded income or residual income is with real estate.  Have rental properties and having someone manage them is a way to have compounded income without having to work for it.  The problem with this type of income is that you have to have a lot of inventory in order to make a great income with it.  How many apartments do you have to buy in order to have a good income that way?

The other way is network marketing.  This is probably the best way to make income by compounding.  The investment is low, the inventory is almost completely nothing now because the Internet age has made it possible for people to order their own products so you don’t have to stock any inventory for them.  It uses the compounded efforts of everyone you put into you group.  This allows you to build a large organization of people that will continue to grow.  As long as the company is in business you, your children, and you grand children will have an income.  The only problem with network marketing is you have to become your best self in order to make it and you have to discipline yourself to stay with it until you make it.

I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Residual Income, The Story of David and His Journey to Residual Income!

The journey to residual income can be fraught with failure, unfairness, and things in life that mercilessly try and keep us from being great.  Let me tell you the inspirational story of David and how he finally came to greatness.  

David was born on September 9, 1890 in Henryville, Indiana.  He was the oldest of three.  His dad was a butcher.  He died when David was five years old.  His mom had to work long hours and David was forced to take care of his younger siblings.  When his mom remarried in 1902 at the age of 12 David didn’t get along with his step-father so he quit school in the 7^th grade and was on his own.  At 16 he faked his age and went into the Army.  He was discharged a year later. 
He married at 19 and had a son.  His son died of infected tonsils when he was an infant.  David wen to work on the railroad and was fired for brawling with co-workers.  He studied law by correspondence and had legal career ended rather abruptly when he had a brawl in the courtroom with his own client.  He was forced to move back in with his mother and he got a job as a cook.  He became an insurance salesman and was fired for insubordination.  Another company hired David.  He earned enough money to start a ferryboat company.  He cashed in his shares at the ferryboat company and started a lamp manufacturing company that went out of business.

He moved for Kentucky and got a job selling Michelin Tires.  He lost that job when the store closed.  In 1924 he by chance met the General Manager of Standard Oil.  He asked David to run a small gas station in Kentucky.  It went out of business because of the Great Depression a few years later.  Standard Oil offered him a gas station rent-free for a percentage of sales.  David started serving food at the gas station and a local critic gave it some local acclaim.  This lasted for nine years until it burned to the ground. David had it rebuilt into a 140-seat restaurant.  Two year later the U.S. entered World War Two and the tourism business dried up.  He was forced to close and work as an assistant restaurant manager.

Ten years later he tried franchising his restaurant idea to a guy in Utah.  There sales tripled on one idea, chicken.  See that success several other restaurants also started franchising.  They paid him 0.04 cents a chicken.  This was not enough to sustain him and his new wife.  He was now 65 and he hit the road.  Often sleeping in his care he would go to a restaurant, cook them some chicken, and if they liked it he would negotiate franchise rights. At age 74 he sold the rights to Kentucky Fried Chicken for two million dollars, about fifteen million in today’s money.  He retained Canadian rights and served as ambassador for Kentucky Fried Chicken until a month before he died at age 90.  

The path to Colonel Harlan David Sanders success was a long and tumultuous one.  The path to making money with residual income can also be long and tumultuous but if we never give up, it can come at any time.  It can even come when we are in our 60’s or 70’s.

I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Passive Income, How Much do You Need to Believe in Yourself to Achieve a Passive Income?

“The only thing standing between you and your goal is the BS story you keep telling yourself as to why you can’t achieve it.” Jordan Belfort

Jordan Belfort is known as the “Wolf of Wallstreet.”  I have never seen the movie.  It’s got way to much depravity and obscene language in it for me.  Jordan Belfort was one of the biggest players on Wallstreet.  He commanded a huge amount of money at one time.  His net worth was somewhere around $200 million.  Until it was found out that he was a fraud.  His get rich schemes finally landed him in prison.  He spent 22 months in prison and had to pay back over one hundred million in restitution. 

While he was in prison his cellmate was Tommy Chong.  He encouraged Jordan to become a motivational speaker when he got out of prison.  That is what he did.  Jordan is now a sought after motivational speaker around the world. 

What does all of this have to do with achieving a great passive income?  Exactly what are you dreams and goals in life?  What is it that you want to achieve?  Are you achieving your goals in life?  All of those questions need to be asked.  If you aren’t achieving your dream that means that you aren’t doing something that you should be doing. 

Passive income is one of the best ways to make you dreams come true.  But you have to grow and stop telling yourself all the stories about why you can’t achieve those dreams.  We all have those stories.  I’m the queen of telling myself that I can’t achieve or I can’t do things because I’m not good enough or people won’t respond to what I do.  I tell myself these stories all the time.

What do you tell yourself?  What kind of story do you have in your head that has been running around in it for so many years that you can’t remember?  I know that I have had these things in my head since my parents planted them there.  I was never good enough.  I could never be good enough or do enough to make them happy. 

Some people react to that abuse by trying to prove their parents wrong.  I didn’t do that.  I just went along and became what they wanted me to be; a person that never achieved my dreams and goals.  But no more.  I’m not going to tell myself any more BS stories about what I can or can’t do.  It’s time to achieve my dreams and I’m going to use passive income to achieve them.

I am taking 10 people on the journey of a lifetime into world of passive income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Residual Income, In Order to Be Successful Making Residual Income You Can’t Ring the Bell

What do I mean, “Don’t right the bell?”  When you go into a business that pays a residual income it can be very difficult to make the transition.   That’s because you are making income in a completely different way.  Employee income is trading time for money, residual income is trading effort for money.  It’s a totally new ball game.  However, if you master the art of residual income it can be a very rewarding experience.  You just have to stick with it and not ring the bell.

So few of us have ever even made it close to becoming a Navy Seal.  We have heard of the training that it takes but few make it through the 24-month training.  The SEAL candidates are exposed to the worst imaginable tests in the 24 months to see if they can push their minds and bodies beyond the limits of their capabilities.  One week is called hell week where the SEALS are not allowed to sleep and are put through tests that keep them cold, muddy, and wet the entire time.

Once they are done with Hell Weak, the training doesn’t get much easier.  The recruits go on for underwater training in San Diego for scuba and drown-proofing; in the mountains of Southern California for rappelling, mountain climbing, explosives, small-unit movements and tactics; and San Clemente Island, Calif., where they take a final land-warfare exercise in a real-time environment.
This means graduation from BUD/S. After graduation, its on to Fort Benning, Georgia to learn the basics of static-line parachuting, followed by 15 weeks of SEAL Qualification Training (SQT) before a final three weeks of Extreme Cold-Weather Survival.  They are sent to Kodiak, Alaska where they must survive three weeks in the cold. 

All of this training teaches them two things.  Number one, the resilience of the human spirit.  The mind and the body will almost give up in these extreme circumstances but the spirit keeps them going.  Also, they learn to rely on each other.  They need each other to keep themselves going during the weeks of torture and training.  All the time there is a brass bell in the middle of the training grounds.  All they have to do is ring the bell and they can quit no questions asked.  Over 70% of all SEAL candidates quit before the end of Hell Week.  

When something gets difficult for you, what do you do?  Do you quit when the going gets tough?  Do you get ready to ring the bell and just give up?  That is the problem when you go to making a living with residual income.  We give up before we get our breakthrough.  SEALS get a mindset that follows them the rest of their lives.  What’s your mindset?

I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Passive Income, Can you Market to Friends and Family and Make a Great Passive Income?

You just signed up for a network marketing company.  They told you that if you just get two friends in and those two friends get two friends you can make a great income.  Then you are told to write down a list of 100 friends and family that you know and they will show you how to market to them.  Does this ideas work as a way to make great passive income?

There are a few reasons why this scheme might not work as a way to make a passive income.

1.    Your friends and family are not targeted for your product or service.

Your friends and family are just that, friends and family.  They may not be the right people to get involved in your business or opportunity.  Why, because they just aren’t interested in it.  They may love you, but they don’t want or need what you are selling.  That’s okay, if they aren’t interested just travel on.

2.    Can you build a big passive income business with only 100 people?

What is the one institution where people commit to love, honor, and care for each other the rest of their lives?  Marriage!  We spend thousands of dollars on weddings, months of planning, and lots of headaches to marry this person that we just know we are going to cherish for the rest of our lives.  What happens?  Over 50% of these commitments end in divorce.  If that commitment ends in divorce, how many people that join your opportunity will also quit?  You need more than one hundred to build a six-figure passive income!

3.    Your friends and family could be difficult to convince.

Your friends and family could be a difficult sell.  They know you in one particular way and now you are going to do something different.  I might be difficult to get them to go along with you.  Even Jesus had trouble in his hometown.  How much trouble do you think you will have?

There are plenty of ways to get prospects that are interested in your product or service.  There is article marketing, social media, banner ads, solo ads, and PPC just to name a few.  You need thousands of interested people in order to have a great passive income.

I am taking 10 people on the journey of a lifetime into world of passive income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Residual Income, Is Building a Residual Income Difficult?

What is residual income and how do you build it?  We live in a world in the United States where the job market is disappearing.  There are still service jobs but those high paying corporate jobs and industrial jobs that were once available are not available anymore.  We want to have money to take care of our family and have the things we need to survive but that is getting more and more difficult in today’s world.

What is residual income and how do you make it?  Residual income or passive income is income that you make once and then it pays you over and over again.  There are several ways to make residual income.  One way is royalties.  Royalties are paid on such things as book sales, movie rights, and CD sales on music.  Every time a movie is played, a CD is sold, or a book is sold, the creator gets a little bit of money from the sale.  Other ways of making residual income is from rent from apartments or houses.  Those are residual.  The most popular way of making a residual income is through network marketing.  So many people fail when they start trying to make income with network marketing.

I think there are a few reasons.  One is they don’t have the right attitude.  You must have an attitude and passion for what you are doing.  That means you have got to want to help other people.  It may be that you want to help them with their finances, with their dreams, or help them with something that the product or service provides.  If you have weight loss products perhaps you want to help them lose weight.  If you have anti-aging product perhaps it’s your passion to help them look and feel younger.  Without a passion and the big dream you will fail.

The other reason people fail is due to lack of training.  They aren’t trained to know how to make passive income.  Making passive income is completely different than making employee income.  It is something that we must be properly trained to do.  We can’t just sign up with our brother-in-law that has no training and then think we are going to be successful.  It doesn’t work that way.  You have to be trained on how to make a residual income.   I have spent five years and fifty thousand dollars learning how to make passive income.  It’s my passion to teach you how to have a great income.

I am taking 10 people on the journey of a lifetime into world of residual income.  If you want to see if you qualify for this journey go to www.incredibletransformation.com, give us your information so we can see if you qualify.

Residual Income! How Much Passion Does it Take to Produce Residual Income?

We have just finished crowning the winner of the Super Bowl and presenting the winner with the Lombardi Trophy.  Congratulations to the Denver Broncos for the great win over a team that had steam rolled over everyone in the regular season and the playoffs.  The Carolina Panthers seemed unbeatable.  I am from Colorado so I am happy the Broncos won, but more than the win, there are some very personal stories that come from football.  Many people show courage and hard work to get to the upper echelons of football.  Just like making and income with residual income, professional football players need to have a passion that will not quit.

One such player didn’t make it into the Super Bowl this year, but he has won a quit a few and been in the playoffs many times.  That player is Tom Brady.  He is one of the all time greats of football.  Drafted in 2000 he was the 199^th pick.  He went on to win four Super Bowl rings.  He was the Super Bowl MVP three times, 11 times all pro, six times AFC Champion, AP male Athlete of the Year in 2009, and the New England Patriots all time best quarterback.  He was not supposed to be so great.  He was not given the great chances in life.  In fact, he was not supposed to play pro football at all.

When Brady started his high school career he was not even good enough to be a starter on his JV team that went 0-8.  Because the starting quarterback was hurt Brady finally go his start.  He struggled to get on the radar of college coaches.  He created highlight tapes and sent them out.  This got the attention of University of Michigan where he started there as backup quarterback.  He spent most of his time at Michigan battling for a starting position with Drew Henson.  He finished his college career with a 34-33 overtime win against Arkansas in the Orange Bowl.

You would think that he would be a shoe in for pro football.  His scouting report read that he had a poor build, was too thin, would easily be knocked over and hurt.  The only team that came calling was the New England Patriots.  He was drafted in the 6^th round and was the 199^th pick.  Brady finally got his chance to start when Drew Bledsoe was injured.  Since that time he has gone on to be one of the top quarterbacks in football.

He learned to become comfortable proving himself every day.  He followed the advice of the great Vince Lombardi, “The price of success in hard work, dedication to the job and hand, and the determination that whether we win or lose, we have applied the best of ourselves to the task at hand.”

It takes the same thing to have any kind of success in a residual income business.  Steve Jobs said that you have to love what you do because it’s hard.  Having success in a residual income business is hard, but if you are will to pay the price of success it is very rewarding.

Let me be your coach.  I am taking 10 people in 2016 to train them in how to generate a residual income.  If you are struggling in you finances, go to www.incredibletransformation.com.  Give me your information so we can talk about your future.

Generating Residual Income! Generating Residual Income Is It the Best Way to Accumulate Real Wealth?

I am not a political person, nor am I going to make this article a rant about my political affiliation, but I was listening the Bernie Sanders a few minutes ago.  He said that since in early 1990’s when NAFTA was created we have lost 60,000 American factories to places like Mexico and Vietnam where the labor is much cheaper.  I believe the minimum wage in Vietnam is sixty-five cents and hour.  How can we possibly compete with that?  We require a job that pays at least $15.00 per hour in order to survive.

The only way we will survive in America is with the possibility of generating residual income.  So many people do not know what residual income really is.  There are two aspects of residual income that are sooo good.  One is that once you work for it, it pays you over and over again.  Generating residual income is based on our efforts, not our time.  If you put a lot of effort into it when you first start a business then you will not have to put as much into it later.

It will even pay your children and your children’ children.  I would love to know that my grandkids have a secure future in an economy that seems to be failing more and more every day.  Their future is not nearly as secure as my future was when I graduated from high school.  There were plenty of high paying jobs then.  Now they are virtually gone and when you find one you will want to hold on to it because it is precious as gold.

An income that pays you over and over again for you efforts is just one good thing about generating a residual income.  The second thing that is so good about it is it allows you to leverage other people’s talents.  That’s called the compound effect.  Once you start compounding your efforts with other people’s efforts, your business can grow very quickly and keep growing exponentially.

The problem with generating residual income is that it can be a difficult thing to learn.  We are taught to generate employee income. That is just about the worst possible way to earn a living.  Generating residual income is a much better way to make money but it can be a difficult transition from employee income to residual income.  You will need someone to come along side of you and coach you through the first six to eight months.  That is the best way to make generating a residual income viable for you.  You will need someone that is trained and has done this before.

Let me be your coach.  I am taking 10 people in 2016 to train them in how to generate a residual income.  If you are struggling in you finances, go to www.incredibletransformation.com.  Give me your information so we can talk about your future.

Residual Income Opportunity! How Does a Residual Income Opportunity Make You the Best You Can Be?

Whenever we start looking at a residual income opportunity like a direct marketing company the first thing we want to know is how on earth does this work?  How do we do it?  What gadget, what sales tactic, and what silver bullet can I use to build my business?  When it comes to a residual income opportunity it’s not so much how you do it, it’s how you become it?

What do I mean by that.  A residual income opportunity will make you the best that you can be.  You have to learn to be patient, sell to others, and smile when things aren’t going good.  If you are an introvert like me you have to come out of your shell enough to be able to talk to people about your opportunity or product.  I’m a bit more than an introvert.  I’m almost a hermit.  It can be very difficult for me to talk to people. 

What do you have to do to become the person that you need to become to do a network marketing or residual income opportunity?  You have to do many things to get over yourself.   Literally get over the person that your parents, peers, and teachers made you.  That’s right, they made you the person you are when you were very young.  We watched our parents and what they did.  We emulate them in many ways.  If they were the outgoing salesman type, then it will be easy for you to be a salesperson.  If not it could be more difficult for you to develop this skill.

If you, like me, lived with parents who were not the outgoing salesperson type, what can you do?  Our brains are like big computers.  They are programmed one way.  The fortunate thing is that we can change our programming.  What we put in our conscious mind will eventually get to our subconscious mind and it will change us. 

I have heard terrible stories of people raised with alcoholic parents that were very abusive changing their ways and becoming great people who made tons of money with a residual income opportunity.  Tony Robbins came from a very abusive family situation with very little money to become one of the greatest motivational speakers on the planet.  Is there any difference between you and Tony?  No, it’s just what you think.  He did things to change and so can you.

I was listening to a guru person that I know yesterday and he had some great insights.  First, stop watching the news.  We think we need to know what is going on in the world, but the news is very depressing.  I haven’t watched the news in about five years now and I think I still know what’s happening.  What I don’t know I don’t need to know.  Stop watching cop shows like CSI, Law and Order, Criminal Minds, and the plethora of cop shows that are on television today.  They will give you a slanted view of the world.  Read something before you go to bed. What you put in you mind before you go to bed will really determine your mindset the next day.  If you read something uplifting before you go to bed you will have a better mindset the next day.

When it comes to a residual income opportunity you need to become the best that you can be.  Small steps can help you change your path in life.

I want 10 people to take to a six-figure income in 2016.  If you wish to be one of them go to www.incredibletransformation.com to sign up so we can talk about it.