Building a business that will generate ongoing income is like building a money machine. But there are money machines, and then there are money machines. Some are recruiting businesses, thinly veiled as product distribution businesses and legitimized with overpriced products. Unless one keeps on recruiting and buying the exorbitantly priced wares, the income very quickly dries up.
Other business opportunities demand one’s regular attention and unique skill, so they are hard to duplicate and, in fact, one has simply created a job for oneself. Yet others are quick in-and-out types, where only those who start right at the beginning actually make money, and of course they don’t last, either.
Ideally, we want more than one machine; statistically, millionaires have an average of seven income streams. That’s because they know from experience that nothing lasts forever, and they wisely optimize their prospects and minimize their risks.
One should have short term, medium term, and long term producers, meaning that some will start producing income fast, others will take longer, and still others even longer, like the various crops in a field or different kinds of fruit bearing trees. And this is where we should be particularly aware of what we are building.
“O England is a garden and such gardens are not made
By saying ‘O how beautiful,’ and sitting in the shade;
While better men than we began their working lives
By digging weeds from garden paths with broken dinner knives.”
The really big residual income money machines, those not reliant on continual recruiting and those which fill levels and remain active automatically, generally take longer to start producing the big money, and that is where our entitlement mentality and microwave, quick buck expectations rob us of results because of our impatience. Real business requires self discipline, patience, persistence, and consistency. Like an apple a day.
Smart entrepreneurs build money machines that are really solid and will start making money in a year or two years time, and then the reward is significant. In a year or two, unless you have shuffled off this mortal coil, you will surely arrive. How pleasant and satisfying it is then to reap handsomely what you have faithfully been building!
Ask me about two proven money machines which I highly recommend.
Robin Elliott LeverageAdvantage.com