With company lay-offs and unemployment rates sitting at staggeringly high percentages, people have been forced to look “outside of the box” and consider new ways of earning an income. The majority of us were taught to pursue a linear source of income meaning we trade our time for money; show up for work and get paid based upon the number of hours you put in or, don't show up for work and you don't get paid. Residual income on the other hand is when you continue to get paid for the work that you have already done. Examples of this include royalties from songs, movies and books, as well as investments such as real estate where you don't physically have to be present to earn an income. While there are many benefits to taking advantage of a home business opportunity that provides residual income, one must do their homework to evaluate if the opportunity is right for them. So, let's look at some truths about residual income home business opportunities.
The Truth is … Home Business Opportunities provide unlimited earning potential.
Did you know that in 2013 American CEO's earned an average of $ 11.7 million annually – an astonishing 331 times more than the average worker's $ 35,293? (Source: AFLCIO.org) Have you ever thought that if you just put in extra hours at work in over time you could finally out-earn your company CEO? Of course not. With a linear income, it's virtually impossible simply because your income growth is … well, linear. Conversely, residual income growth is exponential making the ability to earn more than others in top positions very real and very possible.
The Truth is … Home Business Opportunities provide a part-time way to earn a full-time Income
The late American Entrepreneur, Author and Motivational Speaker, Jim Rohn, was famous for saying, “Work full-time on your job; part-time on your fortune.” Residual income opportunities typically have no mandatory hourly commitments. You are your own boss so you decide your hours. And with those hours comes the potential to create a significant and lasting income. Mr. Rohn also believed that “Profits are better than wages”, which shows the advantage of a residual income source vs. a traditional linear income source.
The Truth is … Home Business Opportunities IS hard work
There are too many “get rich quick” schemes and promises to effortless wealth out there today … don't fall victim to them. In order to have a successful business, you will have to make a personal commitment to working hard and putting forth effort in the beginning to continually reap the benefits mentioned above. And it doesn't stop there. Running any business requires up keep and maintenance, it just so happens that with a residual source of income, the upkeep is far less than punching a time clock every day.
Take a serious look at your lifestyle today. What is residual, and has been for many people for many decades, is our bills! If our bills are residual then why not have a residual income? Network Marketing professional Art Jonak said, “If you understood residual income, you'd walk through a brick wall to get it.”
Residual income is available to you. There are many more benefits and truths to having a residual income beyond these however, the reality of it all is that you have to go looking for them if you truly want a residual income home business opportunity.