Coach Kip

What is the best business for me, or any internet entrepreneur to get into? ANYTHING THAT HAS RESIDUAL INCOME!

Yes I yelled that, and yes I feel that strongly about it. Maybe that was a little coach coming out in me, but sometimes it just needs to be said with authority.

What is residual income?

• Residual Income is income that continues to flow without having to do any more work. Or as it has been shortened: Do the work once and get paid over and over again.

It is said over and over on the Internet that the first step in becoming successful on the web is finding something you are passionate about.
True.
The next step is determining if there is a need for it.
Mostly True.
The next step is reducing your audience until you find the niche that you are good at. The narrower the niche, with enough interest the better chance you have at succeeding.
Kind of True.

You can go around the web and find all kinds of articles that will help you find the right niche and the right products to make your site, your online store, or however you plan on making money on the Internet.

So you are a success, you have found a niche and you are starting to sell a few things on the Internet. There are many ways that get you to this point. What is the benefit to this?

Maybe not working for the man in benefit enough. I think that having a job that you work for someone else, and having a job that is your own is the same thing. The key is to have a system in which you do the job once and you get paid over and over.

In Robert Kiyosaki’s book Cashflow Quadrant he explains the difference between owning a business, and working in your own business. Many business owners are the owner and worker within their business. A business owner simply owns the business and all the work is done by others.

The Internet and the supporting businesses that are around the Internet are set up perfectly to have a residual income. There are many many automated shopping cart systems; there are fulfillment companies that will automatically ship goods out as people purchase them off of your site; you can even hire a virtual assistant to reply to your customer service emails.  Go the the 4 Hour Work Week for more information on outsourcing.

The point is if you are going to be making money off of the Internet, don’t work to make that money. Do your best to set it up so that everything is automated and you are not a piece of the puzzle. You just stand on the side and watch as someone else puts the puzzle together. Every once and a while you have to give a little nudge to get the right pieces in place, but other than that you can concentrate on the things that you really love like playing video games, or sitting on the couch eating chips, our watching FOOTBALL!!

Conceive It, Believe It, Achieve It.

Coach Kip

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