In my Examiner column today, I listed my 6th reason to be thankful you work from home. My reason today was Residual Income. It is by far one of my favorite subjects, as I have experienced the power it has to build a great income. And to provide an income when you are unable to work, as I was .Notice the word "BUILD".
I got to thinking there's a slim chance (very slim:-) that not everyone reads this blog AND my Examiner column, so I give some information in both spots.
In a nut shell, residual income is income you receive over and over, sometimes even years after writing that initial piece of business.
All companies do things a little different, but I can speak for the company I work with. I hear there are several that are similar.
Say in month one- I enroll 10 people into a dental or health plan. I get paid on each of them within a few days of enrollment.
Month two, I enrolled 10 more: I get paid on 20 people (assuming here that all my 1st month people are still members)
10 people from last month, and 10 new people
Month three- I enrolled 10 more: I get paid on 30 people (assuming here that all my previous people members are still on the books)
20 people from months one and two, and 10 people from this month
Month four- A lot has been going on in my life. I really didn't get a chance to work much. I will get paid on 30 people. I didn't have any new business but I still get a check.
The same goes for recruiting new business owners into your company. Some companys will give residual pay on your downline, some give bonuses based on your downlines performance. Some offer both.
Sometimes a company will give advance pay. You get several months advance pay (we'll use 3 months here) on new customers, then your monthly residuals start on month 4. Some companys charge paybacks if a member quits, some don't.
That is my experience with residual income. So far, I have had great experiences with it.
I hope that helped to clear the air for those wondering.
What's on your wall? I don't mean your FaceBook wall, I mean your office/workspace wall?
Are you surrounding yourself with things that keep you motivated?
The wall directly in front of my laptop is full of stuff- odd things that help me out in my biz or keep me motivated:
A pic of a home on a lake- something I think I may want some day! My 2nd home, except for my cruise boat!
"I have the power"- I believe I obtained this little "thought provoking" quote at a convention for hemophiliacs that used to be held every year. My brother was a hemophiliac bleeder as were some uncles and a great uncle. We used to attend a convention every year for families with hemophiliacs. Great time. Anyway, picked up the quote there!
"Love, Love, Love those Texas Buns" is a postcard I got while we were at one of the AmeriPlan conventions in Dallas, TX. It reminds me of the great times there, how much I love my team and why I love working at home. I mean, would a boss have let me go to Texas to check out a little "Texan Buns?" NOT!
Ok, my bulletin board on the left is slightly out of control! It has biz cards, receipts and other stuff to be filed and a few other things :-) Hey, I manage!
To the right of that, on the make-shift wall that separtates me from everything we need to store...is my inspirational word and phrase pic. Words cut out of magazines, like " Peace", "gift", "Beauty", "deliver" and more....
My AmeriPlan "cheat sheet" a little outdated. Updating it IS on my list of stuff to do!
I know to a perfectionist this may seem like a lot of useless, messy stuff. But hey, it keeps me motivated.
Why is that some people start "selling" you on their product or service before the word "hello" has even been uttered?
In the past week, I have had 1 person trying to sell me on their product through a chat, and several trying to set up one on one time with me to "Talk."
Hello, I don't know you and you don't know me.
I do not profess to be an expert in how you should to build your home business, but over the past two years, I've become quite a professional on what NOT to do!
And one thing I have learned is don't talk business right away. If someone asks, that's different. Tell them you work at home for (fill in the blank) and we sell (fill in the blank). If they want more information, supply it. If not, shut up! If they need your product, they will let you know.
Another thing that just doesn't really work for me is purchased leads. Most peoples names have been sold to so many people, that by the time you call, they are feeling harrassed. The last thing they want is to talk to you. Yes, sometimes we get lucky, but most often not. It could take 100's of dials off the lead list to produce one or two results. And usually they are short lived.
So I have turned to a great marketing system I have discovered. By following this sytem, prospects are actually looking for you! By the time they find you, they are prequalified and ready to get to work. They are the 10% that want to get to work and will be successful.
If you are tired of home meetings, endless "socializing " online, and posting 50-100 ads a day on Craigslist, backpage.com and other sites, you need to see this!
It makes so much sense, you'll wonder why you marketed any other way.
If you are ready to take your marketing to a whole new level, check it out HERE- grab some of the FREE information and apply it to your business. See if this isn't the system that will turn your business around!
To be successful work at home parent, one needs to have a comfortable yet functional space in which to work. It not only provides the privacy you need, it lends credibility to what you do.
Others are more likely to take your job seriously if you have a home office and set work hours. The ideal situation would be to turn a spare bedroom or den into an office.
Unfortunately, many of us lack a spare room. But there may be other options available if you look around and take stock of what space you do have. Erma Bombeck wrote from her utility room. Many people create office space in a corner of their basement, in a converted garage or even a shed. My writing space as a child was the crawl space attic. When my parents weren’t home, I would grab the ladder, and go up to my ‘office." I have no clue where my sister, who was supposed to watching me was. My dream office is in a tree fort, but that’s another story.
Converting a closet into an office works quite well. If it is the kind that runs the length of the room, you only need to paint the walls, put a desk and filing cabinet inside, and place shelves above the desk. You have an instant office. You can remove the doors or keep them on so you can shut them when you are done with work for the day.
If you don’t have a desk, you can easily create one with a sheet of plywood placed on top of two sawhorses. You can also attach the plywood to the wall with a brace or hinges. A long, low dresser can be converted to a desk by removing the drawers and cutting away the runners. An old kitchen table can also make a nice desk.
The important thing is to make sure you have sufficient storage. Utilize wall space by hanging shelves, and don’t forget the space under the desk and on top of the filing cabinets. Be sure to place the filing cabinet near the desk or filing tends to be put off. Make sure you create space for a computer and a printer. You want to be able to do everything from your office, not have to go to another room to perform a task.
It doesn’t matter whether you are in a corner of a room or in a garage, if you give your space a personal touch, you will be half way to a successful career.
Have you ever had one of those calls where the other person was so negative, you wanted to slam the phone down in their ear? In fact, they are so negative, you are surprised they didn't hang up on you!
I had that happen the other day, only it was in a chat. I was on a social networking site. I heard a "bloop" and realized that someone wanted to chat with me.
She started out asking me what I do from home. She needed to make money and it needed to be at home.
I started telling her what was involved with my biz- run ads, answer calls, enter information onto the computer. She said that type of thing wasn't for her
I asked her if she was a writer. Nope, not interested.
I asked if she had a blog. Nope.
Was she crafty? No!
How about home daycare? No, she already had enough kids.
Finally I realized I was spending a lot of time on someone that is so negative, nothing would have appealed to her.
And I had a long list of people I needed to call that DID want to work and make money at home.
I really wanted to get out of this conversation.
I am too nice. I couldn't say, "You are so negative I don't even feel good talking with you."
Thank goodness the phone rang and I told her I'd be back after my call, which I wasn't....
If you get a negative person on the phone, your best bet is to end the call A.S.A.P!
You don't want negativity dragging you down.
So get out of any negative conversations, and call the people that do want to make a positive change in their life. Their enthusiasm will bring you back to where you need to be...positive and enthusiastic.
And being positive and enthusiastic is what brings in the dollars.
Working at home can be a real challenge when you have children; especially if they are not yet in school. You can’t just park them in front of the TV all day. Below are some tips to help your days go smoother.
Morning Rush Hour
By morning rush hour, I’m not talking about driving down the highway. I’m talking about the mad rush that goes on in most households in the morning as kids get ready for school and the spouse gets ready for work. By getting clothes and lunches ready the night before, you can avoid some of that morning insanity. If your children buy lunch, be sure the night before that you have the proper change on hand.
If you have little ones at home, put a small desk or table near your desk. This is your child’s desk. Give them a play phone, an old typewriter (or old computer), some paper, pencils, crayons, a calculator, and anything else you can dream up to keep them busy. Then, they can do their "business" while you do yours. Don’t forget to "pack their lunch!" Include juice boxes, snacks, and a sandwich for lunch. Then you won’t constantly be interrupted with requests for drinks and food. If your child is old enough, you can also keep a small pitcher in the fridge filled with their favorite drink so they can help themselves.
Set your timer for a predetermined amount of time when you and your child sit at your desks. When the timer goes off, the child knows it is time to spend with Daddy or Mommy. Read or play games for half an hour or so. Then pull out the playdoh or paint and let them have fun while you work another half hour or so. After lunch, put them down for a nap, and work some more.
Give them a box!
It’s a known fact that children love the boxes more than the toys. If you can get your hands on an appliance box, you can keep the kids busy for hours. The first thing you need to do is cut out some windows and doors for them. Then, depending how brave you are, you give them paint, markers or crayons to decorate the box. When they are through, they can play in the house.
If you don’t have a large box get some smaller ones. They make perfect houses for Barbie’s and other small dolls. Use old cereal and food boxes to create a village.
Put them to work
Children can help you with your business. My 12-year-.old daughter helps me by putting my contact information on brochures, putting stamps on mail, and cutting out flyers. She also loves to ride around with me putting out flyers. The reward? We go out to lunch afterward!
If you don’t have the kind of job that your children can help with, they can at least help out around the house. It will never hurt a kid to wash dishes, vacuum, clean a bathroom or mow the lawn. My boys also wash their own clothes. Having the kids do chores teaches them responsibility, that they must work to help the family unit, and also frees up time for you to work.
Toddlers and preschoolers love to clean! Give them a spray bottle with water and a rag and have them spray the refrigerator, dishwasher and other safe surfaces. They can also dust- every little bit helps.
Join a babysitting Co-op or arrange a play date for your children. A babysitting co-op is a group of like-minded parents who agree to share responsibility for watching each others' little ones while Mom or Dad goes to the doctor, does their shopping, or works in peace. On the same principal, you can arrange a play date for your child. My daughter often goes down to her friend’s house. She may stay there a few hours or all day. The next weekend, her friend will come here for several hours. This enables both sets of parents a little quiet time to work, whether at the desk or outside, or even to take for a nap.
When all else fails, do something wild and crazy !
The craziest thing I have ever done with kids was to bring the sandbox in the house. Seriously! I was doing home daycare at the time, and it had been a long, cold winter. The kids were getting antsy from being cooped up so much, and I wasn’t fairing much better.
I had the wild idea of bringing the sandbox inside. It had been emptied of sand in the fall and stored in the shed. I got some sand at the local hardware store, put the sandbox in the kitchen, and filled it. I put in some pails, shovels, and measuring cups. I had the children take their shoes and socks off and laid down the ground rules. Sand stayed in the box! I figured they would play for an hour and be sick of it. They played almost all day!
Believe it or not, when I went to clean up, it was a jif. I swept up the little bit of sand that was on the kitchen floor, and threw it out. The sand in the box was scooped with the buckets and shovels and put back in the bags in no time. The sandbox was put back in the shed. I vacuumed just in case some sand made it to the living room, and I was done. That was one of my most successful days doing daycare. I was actually bored! Imagine that!
Another time, I spray-painted a bunch of stones gold, and mixed them up with the sand in the sandbox. Giving children a sieve, I told them to pan for gold. They were busy for hours.
With a little patience and ingenuity, you can come up with ways to keep children busy while you work. Busy children are happy children. Happy children make for happy parents. Which makes for a happy home and workplace for all.