Passive Residual Income. Some people call it the lazy man's route to making money. It is often believed that the only way to earn a real living is to go out there and do it! Go out there and make the bucks--lay the bricks, take the clients to dinner, sell the product--do whatever it is that you do to make the money you earn and the money you deserve.
Who is to say that having a stream of passive residual income isn't a good idea? Who can honestly say that making money with little to no effort involved isn't an attractive solution to life's money woes? Rich people, that's who! People who have all the money they could ever need. Passive residual income can give you the cushion you need to send your little ones off to Ivy League school someday, or plan for an impending retirement. Needless to say, there aren't many people like this around anymore. There really isn't such a thing as 'old money' these days. People have to go out there and earn it, whether it's passively or actively.
What is passive residual income you ask? Great question! Residual income is income that is created after one has already taken the steps to make sure the income is being generated; for example selling the rights to a project that will bring you royalties for the rest of your life, or purchasing a piece of property with the intentions to rent it out to others. PASSIVE residual income is income that is generated just like this--with little or no effort on your part.
Sounds like a beautiful thing to you already? Keep reading. By generating a stream of passive residual income, you are the one who is deciding how many hours you spend at work, and how much of your time (physical time as well as mental time) is involved in generating this income. It's all about YOU and what you do, or do not want to do. That's why it's called PASSIVE residual income!
The great thing about passive residual income is that the only limits that are set on you, and your pocket, are the limits that you set. If you decide that you would like to expand your business venture, obviously that would increase the amount of income that is generated through this passive stream you have generated. The more work you actually do put into it, the better off you will be financially, but because these avenues are passive, meaning they do not require your direct attention to continue to operate, you will still be financially well off.
Take charge of your own financial situation--don't depend on others to do it for you. If you wait forever for your boss to give you a raise before you build the house of your dreams, you may very well have to wait forever. The good thing about passive residual income is that because it requires so little of your direct involvement, you can keep your day job and the stability that comes along with it.
Lazy Man's Cabbage Rolls
All the Idea Factory required was a yellow, legal-sized notepad and a pen. I've modified the technique a bit and made it even more powerful.
I put the Idea Factory to work right away and immediately benefited from it. It has systematically improved almost every major area in my life, in less than a month.
First, I'll show you why this daily notebook works so well and how it has improved my life. Then I'll show you how to use it.
The best thing is that it's so easy to do and it automatically puts your subconscious mind to work for you to solve any problem you have.
While you're busy working, exercising or going about your day, your subconscious mind is creating solutions. You'll improve your relationships, finances, health, fitness or any other area of your life.
I've been using the Idea Factory (IF) just three weeks; It has produced over three dozen ideas that have improved my life faster than anything else I've EVER tried.
It's as if I hired a fulltime success coach but it didn't cost me a dime. The Idea Factory however is even more powerful than just an idea-generating machine.
It's a way to organize information so you can easily find it. You can keep track of the names of clients, flight schedules, instructions on how to install something, telephone numbers, websites, a to do list, insurance policy numbers, confirmation codes and just about anything you can record on a piece of paper.
Anyone can benefit from using The Idea Factory, including students, workers, sales people, mothers, scientists, entrepreneurs, etc.
Remember how you used to jot down thoughts, telephone numbers etc. on little bits of paper? Remember how you could never find that one piece of paper with the phone number you needed? Now you'll have a centralized system for capturing, organizing and finding your ideas.
Once your ideas are out of your head, you can effortlessly improve them. That is the magic of writing and editing. By writing your ideas down, you can fully develop them and make them practical and useable.
My Improvements With: The Idea Factory
* Tripled my output of profitable ideas.
* Unleashed higher levels of self-discipline without willpower.
* Saved an hour a month by creating an optimized to do list system.
* Energized my spiritual energy flow and prosperity because of a two-minute, daily discipline concept I created.
* Increased my website's traffic by publishing articles to over 100 websites, all over the Internet. (I've known about this idea for years, but never acted upon it because it took too much time. But I came up with two ideas that dropped this from 20 hours to 1 hour per week.) Are you starting to see how powerful, well-developed ideas can be?
* I have a list of seven articles ideas to publish in the near future. Normally I'm struggling to come up with one good article idea per week.
* Don't interrupt and don't forget: Now I jot down ideas in my notebook while the other person is speaking on the telephone. This way I don't interrupt them but I'll remember what I wanted to say.
* I never lose my ideas because they are all organized in one notebook. In the past, my ideas were on sticky pads, in my daily planner and elsewhere and I often couldn't find information when I needed it.
* I even came up with a great idea to improve The Idea Factory, now I just number all the pages in my spiral bound notebook. On my to do list, (which is also in the notebook) I link the page number to the 'to do item' and I can quickly find my ideas.
* Created a system to build bigger muscles in the same amount of time in my workouts.
* Found a great way to exercise doing regular daily activities.
* Discovered a two minute technique that defeats procrastination every time.
How To Do The Idea Factory:
1. Get a 10.5 by 8 inch spiral notebook (sorry not the metric system). Take this notebook with you wherever you go.
2. Write in today's date and then your daily to do list. (I use a separate planner called plannerpad for my daily to do list.)
3. IMPORTANT: Any time you get an idea, immediately record it in your notebook. The more ideas you write down, the more ideas you'll get. It's that simple.
4. Jot down any daily details. Ex) website addresses, telephone numbers, people's names, instructions etc. Anything important you write down in your notebook.
5. Number each page at the bottom. That way you can list specific page numbers with your to do list items and quickly find any idea. You can even create an index of important ideas inside the front cover of your notebook with the page number you can find the idea on.
6. Feel free to modify or improve this system to make it work for you.
That's it. It's easy and I use it almost every day. I hope you will as well.
Both Sherman Choo & Roger Haeske are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Sherman Choo has sinced written about articles on various topics from Employment, Network Marketing and Beauty Tips. Sherman Choo is a "Million Dollar Marketer" and Creator of Internet Cash Generating Machines like . To. Sherman Choo's top article generates over 60500 views. to your Favourites.
Roger Haeske has sinced written about articles on various topics from Residual Income, Internet Marketing and Nutrition. Free Peak Performance System: Discover the 10,000-year-old Simple Secret for Effortless Weight Loss, Radiant Health, Super Athletic Performance, Spiritual, Mental, Emotional Health, Success and more. Go to. Roger Haeske's top article generates over 1900 views. to your Favourites.
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