Is A Residual Income Business and Home Based Income Right For Everyone?

No, unfortunately, a residual income business or home based income definitely is NOT for everyone.

First of all, success in a residual income business is not guaranteed; You will be paid what your worth, or rather for the value that bring to the market.

If you are not coachable and teachable and willing to learn the system – if you insist on trying to reinvent the wheel so-to-speak – you will likely fail. Just like with a McDonald’s franchise, there is a certain way of doing things that produces results. Are there other ways that also work? Perhaps; just remember Thomas Edison had to find nearly 2,000 ways that would NOT light a light bulb before he could find the one way that would work. Wouldn’t you rather follow a proven path that works for success now?

Secondly, creating home based income does take work to do it successfully. No one can fire you which is both a blessing and a curse. If you are a self-starter and self-motivated to go after your dreams and goals, then the sky is the limit, no income ceiling or cap here.

On the other hand if you need your boss yelling at you or threatening to fire you for you to take action, you will struggle with a residual income business as you essentially become your own boss. Certain activities done consistently can yield huge results. These actions do not necessarily need to be taken at a certain time or even at the same time each day, but do need to be taken a regular basis to achieve the kind of results that will enable you to become financially free.

Lastly, a residual income business is a business and while the cost of entry may be low, it is all the more important to be prepared to spend some money along the way to grow your business, be it education and training to learn new skills, tools or systems or other technology to help you leverage your time and efforts, marketing expenses, etc. Depending on your business or professional background, you may need to spend more or less, and for those willing to simply put in more time, you may be able to operate from a shoe-string budget.

The most important thing is to remember to treat your residual income business like a million dollar business and it will then pay you accordingly in time, helping you in creating wealth and achieving financial freedom.

Conclusion: Creating wealth with a home based income business

In my opinion though, the absolute BEST option today for most people today looking to get ahead – whether that’s to pay off some bills, get out of debt, create a secondary or retirement income – or for those looking at creating wealth and becoming financially free, is creating home based income through a residual income business.

Most people, due to their prior commitments start part-time, just working it around their schedule until their home based income begins to exceed the income of their primary job or business. And when you’re making more money from your part-time business than your full-time occupation provides, you know you’re doing something right.