Earning FromYour Online Business
EARNING AT A HIGHER LEVEL
We have been torn lately with what we are leaving for our children. Other than thinking about the money in the bank, what are you really leaving your children when it is time to go home?
If you are working a job, you can’t “will” the job to your children. They my have grown up with you in that industry and understand it well.They may even work for the same employer at the time you decide to retire. However, you can’t will the job that you worked to them.
If you ran your own business, you probably can will the business to your children. The question is: “do they want it?” How many farmers raised their children on the farm and paid for their education from the profits. How many of these children came back to run the farm or did they follow other dreams and become lawyers and doctors, etc?
Is your online business different than traditional businesses or jobs when it comes to earning at a higher level?
BUILD IT RIGHT, FOR YOUR CHILDREN
Sometimes it’s a parent’s disappointment when their children don’t follow in the “family business”. Farming is one of the oldest businesses but how many children follow this passion?
When it comes to earning money online with your online business, how different is it, really? Any one that is engaged with an online business and is actually making a reasonable income will argue theirs is the Best Opportunity!
There are two (2) items that need to be clarified right now:
- There is never going to be an opportunity that “fits everybody”.
- There will never be any product that “sells itself”.
When you are looking at building a business for the sake of your legacy, consider whether your children would consider it something they desire to pursue as well. We intend to structure our business in such a way that it can be easily maintain but beyond this, it has to be able to become a source of funding for our children to seek out their own dreams.
EARNING AT A HIGHER LEVEL
Your online business is not just about earning at a higher level but it is all about a different way to earn. If you understand the concept of Compound Interest, then “maybe” you will also absorb the reality of using your online business to earn at a higher level.
You may need to mix terms here but don’t confuse yourself. In this industry, you will hear about residual income. Simply put, it is income that is worked for once then you continue to earn it over and over again. This is the power of your online business and building it right.
My reference to earning at a higher level is simply building on the concepts of residual income and compound interest. We are not using compound interest as a bank would but we are using the “idea” to better understand the concept of compounding income.
John Paul Getty stated: “I would rather earn 1% from the efforts of one hundred men than 100% of my own effort”
(I have now seen this statement credited to 4 different men! But John Paul Getty was the first so I will stick with his credit.)
What is this all about? There is a difference between being paid for an hour of work on an hourly basis and EARNING FROM YOUR ONLINE BUSINESS.