***Residual Income, And How It Works?*** {126}

😃Wouldn’t it be nice to earn money while not working? That money is called residual, or recurring, income. It's what can happen after you put a lot of time, effort and sometimes money into a job to continue to get paid for the work months or years after it's done. (Salary jobs are part of linear income. This income is directly related to the number of hours you work. If you work 40 hours, you get paid for 40 hours of work.) Once you set up your business to earn residual income, you continue to make money while doing other things – maybe even starting a new business to generate more residual income!

Types of Residual Income:

Some examples of residual income sources include:

Royalties from intellectual property, such as books and patents Subscriptions, advertisements, donations or affiliate links from your blog or website Transferring the rights to a song you recorded, a book you wrote, a software program you created or a gadget you invented to a company agreeing to pay you a percentage of each copy of your work sold Purchasing an office or apartment building and leasing or renting out the properties A savings and investment program that earns interest E-book sales Stock photography royalties Does the Money Just Keep Rolling In?

The ideal residual income stream will produce money 24 hours a day, 7 days a week and you don’t have to personally market or interact with the business in any way. All you have to do is watch your bank account grow.

But that’s more like a fairy tale. You’ll have to put in some effort to continue receiving residual income on the business you started. Talking to your managers and representatives will help them be more productive and run your business better. Marketing your online sales through social media and your network will help earn you more money. But you just won’t have to work at it as your full time job. Think of it as a part time job that can potentially bring in full time pay.

Advantages to Residual Income:

You do have the potential to be financially independent if your residual income produces enough money. Having residual income allows you to do more important things with your time. Whether that’s a hobby or another job, making money from your residual income stream won’t be the primary focus of your life. No matter what, you will have a constant flow of income (however large or small it may be). This is critical if you get injured or sick, can’t work because of another emergency, or if you just want to take an extended vacation. You will make money no matter where you live, unlike a linear income which ties you down to your position. Of course, before the money starts rolling in you will probably have to put a lot of time, effort and money into the business or project. You’ll need a lot of patience and determination to see the residual income in the future. Instant gratification is not possible when it comes to residual income.

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{E-mail for your tour takers}:

Dream Business...EZ Big Money Fast!

I know you love the idea of making big money from home. You have probably tried, but failed. Most people don't have months or even years to learn the skills required to succeed with a "typical" home based business.

The truth is....you would like to find a way to create a very nice income with the least amount of involvement possible! If I could show you a way to make that happen, would you be willing to take a look for yourself?

This business is a new and exciting way to receive money from home with a system that is unlike anything that has ever been done before. It is the REAL deal and it WORKS!

It may be exactly what you have been searching & hoping for!

Success Made Simple,

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"Success is not final; failure is not fatal: It is the courage to continue that counts."

                                                      

***Niche Marketing?*** {125}

💚Creating a good niche involves following this seven-step process:

1.) Make a wish list. With whom do you want to do business? Be as specific as you can: Identify the geographical range and the types of businesses or customers you want your business to target. If you don't know whom you want to do business with, you can't make contact.

These days, the trend is toward smaller niches (Targeting teenagers isn't specific enough; targeting male, African-American teenagers with family incomes of $40,000 and up is. Aiming at companies that sell software is too broad; aiming at Northern California-based companies that provide internet software sales and training and have sales of $15 million or more is a better goal.

2.) Focus. Clarify what you want to sell, remembering this: a) You can't be all things to all people and b) "smaller is bigger." Your niche is not the same as the field in which you work. For example, a retail clothing business is not a niche but a field. A more specific niche may be "maternity clothes for executive women."

To begin this focusing process, use these techniques to help you:

Make a list of things you do best and the skills implicit in each of them. List your achievements. Identify the most important lessons you have learned in life. Look for patterns that reveal your style or approach to resolving problems. Your niche should arise naturally from your interests and experience. For example, if you spent 10 years working in a consulting firm, but also spent 10 years working for a small, family-owned business, you may decide to start a consulting business that specializes in small, family-owned companies.

3.) Describe the customer's worldview. When you look at the world from your prospective customers' perspective, you can identify their needs or wants. The best way to do this is to talk to prospective customers and identify their main concerns.

4.) Synthesize. At this stage, your niche should begin to take shape as your ideas and the client's needs and wants coalesce to create something new. A good niche has five qualities: It takes you where you want to go--in other words, it conforms to your long-term vision. Somebody else wants it--namely, customers. It's carefully planned. It's one-of-a-kind, the "only game in town. "It evolves, allowing you to develop different profit centers and still retain the core business, thus ensuring long-term success.

5.) Evaluate. Now it's time to evaluate your proposed product or service against the five criteria in Step 4. Perhaps you'll find that the niche you had in mind requires more business travel than you're ready for. That means it doesn't fulfill one of the above criteria--it won't take you where you want to go. So scrap it, and move on to the next idea.

6.) Test. Once you have a match between niche and product, test-market it. This can be done by offering samples, such as a free mini-seminar or a sample copy of your newsletter.

7.) Go for it! It's time to implement your idea. For many entrepreneurs, this is the most difficult stage. But fear not: If you did your homework, entering the market will be a calculated risk, not just a gamble.

Once your niche is established and well received by your market, you may be tempted to rest on your laurels. Not a good idea. Ask yourself the following questions when you think you have found your niche--and ask them again every six months or so to make sure your niche is still on target:

➤Who are your target clients?
➤Who aren't your target clients?
➤Do you refuse certain kinds of business if it falls outside your niche?
➤What do clients think you stand for?
➤Is your niche in a constant state of evolution?
➤Does your niche offer what prospective customers want?
➤Do you have a plan and delivery system that effectively conveys the need for your niche to the right market?
➤Can you confidently predict the life cycle of your niche?
➤How can your niche be expanded into a variety of products or services that act as profit centers?
➤Do you have a sense of passion and focused energy with respect to your niche?
➤Does your niche feel comfortable and natural?
➤How will pursuing your niche contribute to achieving the goals you have set for your business?

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It’s not about perfect. It’s about effort. – Jillian Michaels

                                                                       

***Some Info About Comment Marketing*** {124}

😀One of the best traffic sources is to comment on someone else's blog, when that blog is on a relevant, related topic. It may sound counter-intuitive to raise up our competition but oddly enough it makes us look more authoritative when we do. There are several advantages to being strategic when commenting on blogs, news posts and in forums, so much so that this is now a formal kind of marketing - Comment Marketing. Here's what it involves:

The Goal Of Comment Marketing:

When done correctly, commenting will introduce you to people already looking for the information you are an expert in already. When you comment wisely, adding to the conversation in progress, you plant the seed that someone can trust you. You also begin to build your like-ability quotient. This is always the ultimate goal with social networking - to build "know, like and trust" connections in your desired marketplace.

What Comment Marketing Is Not:

SEO gurus used to advise us all to comment on leaders' blogs in order to build backlinks. The Google Penquin Update has ended the effectiveness of that tactic. Content Marketing is not about building profiles in as many different places as you can; it is only about adding value to a conversation. This encourages people to see you as an expert. A comment that simply says, "cute post" or "love your theme" does nothing for you and is usually deleted by the blog owner.

3 Quick Comment Marketing Tips:

It is okay, and often a good idea, to disagree with the main point of the post. So long as you can back up your point of view and do it politely. It gets a good discussion going and helps both you and the owner of the blog, especially if the chat goes on for a while and stays polite! Use the same name and photo everywhere. Your "gravatar" then becomes recognizable and your followers will automatically scroll to your comment to see what you've said. Consistency is key with social networking, so that you can stand out in the noisy, crowded social sandbox. Only plant a URL in the comment section if a) it really is helpful and extends the content's value and b) you can do so in such a way as to allow the blog owner to delete it. For example... add your comment, and then add a phrase like "note to editor, if this would be useful to your readers" or "I'm not sure if this is appropriate to place here, yet I believe your readers would gain value from this link".

Raising Up Your Competition:

As you can see, comment marketing involves quite a bit of strategy: you will want to pick leaders in your niche and comment on their posts all while following the rules above. You may see those "leaders" as your competition and not want to promote them for fear that they take away your traffic. Oddly enough, the reverse is true. When you authentically (i.e. genuinely) and publicly admire someone else in your field, it shows how much of an expert you are that you recognize their unique abilities and then - and here's the key - shows that you are secure enough in your own authority that you can stand back and admire others with confidence.

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Whatever is worrying you right now, forget about it. Take a deep breath, stay positive and know that things will get better. – Unknown