It’s important to know where you stand, when it comes to your survival in this new economy, although our educators did their best for us to succeed. We were taught mathematics, English, the social sciences and the social graces. We then find our particular aptitude, all to get a job to earn a living.
Then many wonder, is this all there is to it. Is this all what we live for and that’s to just get a good job. How unsettling is that.
Just try phoning in sick, or don’t go to the “job” for a few days. What happens is you’re instantly replaced by someone else, you’re not needed.
There’s no stability in your job whatsoever. You can easily be substituted. What we all also want is to get promoted and get paid more.
Know there are three key reasons why you’re paid what you are.
Getting Paid Your Worth
• If there’s a high number of other workers who are just as capable of doing your job, or they’re able to do it better or quicker. Then your pay is the lowest, the bare minimum
• If there’s a need for a certain type of specialized skill, specific training or education that’s needed to perform your job. Then your pay scale would increase
• If there are a lot of consumers or clients who’ll benefit from the specialized work you do, and they’re willing to pay for it, then you’re in high demand. The more people who benefit, and your skill is scarce, you’ll earn the most
The Problem With A JOB
What the biggest problem with a JOB other than being Just Over Broke, is all it provides is linear income. Linear income is defined as money that’s earned for the work you perform, as per hour or month.
So if you get violently ill and end up in a hospital bed, and then need to take time off but don’t have sick leave benefits, you won’t get paid. Your job will be given to someone else.
Anyone who happens to have a job, be self employed or freelances, or are an independent contractor, what they all earn is linear income. Once they stop working, the income stops.
The Need To Leverage
What is leverage. One thing that earning a linear income doesn’t offer is leverage. Leverage is what separates the working poor from those who are wealthy.
For those who holds down a job, which is the majority, you’re the victim of leverage.
What your employer is doing is leveraging your time and effort to increase their profit. In exchange for your time, what you get is a salary.
The True Value Of Education
Has the education you’ve received provide you with the skill set, which can help you earn a seven figure income in the next few years. How about in the next decade.
Everyone who works wants to answer “yes,” to earn a seven figure income, but they view it as a fantasy.
The reality for most workers is, based on their level of education, it would take them until eternity to generate such a high income.
So if your current education doesn’t provide you with the skills which are required for you to generate a million dollar income, and do so in the next few years, what then can you do?
A Mindshift Towards The New Economy
It’s usually just a mind shift away once you decide to understand the principles.
What you need is to target the type of education where you can learn a skill, which will propel you to earn this type of income.
What it involves is placing yourself in a situation, where you can leverage the time and efforts of others, for yourself.
The Value Of Residual Income
What the common ground today when it comes to marketing anything, online or offline, is by using the various methods on the Internet to efficiently promote your business.
One method that’s proven to work is residual marketing. The definition of residual marketing is finding a way to continually market a product or service, from a previous or singular effort.
This is similar to how TV actors will continuously receive residual income, once their TV show goes into syndication. Or a song writer who receives income, every time their song is played on the radio.
Creating Your Own Residual Income Stream
Residual income, which is also known as passive income, is a steady stream of income derived from an initial effort.
This from setting up or participating in an income generating business model, which pays the participant with a steady long term, usually “autopilot” income.
What this can require is minimum active participation to create this passive cash flow, once it’s set up.
There are a lot of individuals who are starting to discover this, and are flocking online to participate in these money generating sources.
The Most Common Methods Of Residual Income
The most popular residual income models are affiliate marketing, creating and selling digital information, or network (MLM) marketing.
These marketing models have been developed, proven, and are often just set up once, to generate a profitable income stream.
The most popular and most affordable to begin and participate is affiliate marketing. This is also the most easiest for new online entrepreneurs.
Affiliate marketing involves the promoting of other companies products for a fee.
This is where an established business will pay their “affiliates” to bring them visitors, clients, or buying customers to their site by the affiliate’s marketing efforts.
The affiliate marketing model has four components.
1.) – The retailer or merchant who sells the goods
2.) – A network (middleman) who handles the promotion, takes care of payments, and manages the affiliates
3.) – The publisher (you) known as the “affiliate,” and
4.) – The end customer who buys the product from your efforts
The Affiliate Marketing Model
What you’re responsible for as an affiliate, is the promotion of a company’s goods or services, for a commission.
This involves all of the costs associated, such as a website and advertising and brand awareness support.
Once you sell a product through your efforts, you’re paid a certain percentage of the sale.
Affiliate marketing is a completely risk free method of earning residual income, as your only step is to promote.
All payments, complaints, and refunds are handled by the associate vendor or business owner.