Knowing your Business Potential-Some InsightsPosted by: Kim Sears | Posted on: April 26, 2021
1) Recurring Income
2) Use of leverage (of Time and Money
3) Geometric Growth or Duplicability
There are several methods for generating residual profits. However, many people do not comprehend it. Others have never considered it or have never been exposed to it. Unfortunately, many of the methods for producing it are out of reach for the “ordinary” person. view publisher site
Some of the more well-known avocations that generate residual income include successful writers, actors, musicians, and insurance agents. Interest gained on capital in the bank or other savings is perhaps the easiest and best example of passive residual income. It is charged or credited to you without you having to put in any additional effort.
And with the right company, it can be a lot easier than trying to get a million dollars in the bank by overcoming all the obstacles. Instead of battling you every step of the way (taxing all of your earnings), Uncle Sam becomes an enthusiastic partner by providing you with a variety of tax cuts and rewards to succeed.
Leverage is used by any successful individual or company, whether or not they are in Network Marketing. A day is just 24 hours long! And no matter how talented you are or how much you are paid every hour, you are restricted by the amount of hours in a day if you don’t use leverage. You will benefit from a percentage of other people’s efforts and greatly increase your income and independence by learning to maximise your time.