Is a Residual Income Business for you?
Let’s assume you’ve been thinking about starting a residual income business, but you weren’t sure whether it was right for you or not and were searching for that one money making secret to be sure you were making the right decision.
Well, to help you with that decision, I’ve put together a list of many reasons why NOT to start a residual income business. To be sure, such a business is not for everyone, in fact I’ll let you in on another money making secret right here that you may not have been told: the majority of people are NOT a good fit for a residual income business.
In the list that follows, you will come to understand why this is the case, as these reasons will simply rule out most people. The last thing you want to do is spend your precious time and money on something for the wrong reasons because no one told you beforehand. Hopefully this post will help put an end to your search so that you can know once and for all whether a residual income business is for you or not.
13 Reasons NOT to Start a Residual Income Business
You should NOT start a residual income business if:
- You have more than enough money coming in on a regular basis (income you no longer have to work for) that you’re able to spend your time and money as you choose with the people who you care most about
- Money is no object to you – you are blessed with an inheritance that will never end (or maybe a rich caretaker) and can provide for all your wishes and desires
- You have a “Sugar Daddy” (or “Sugar Mama”) who will pay for anything and everything you could ever want and you don’t see that situation changing ever
- Your retirement income is so secure (God Himself has guaranteed it) and it will be so substantial – even when hyperinflation sets in and after taxes – that you will be set for life and will never have to think or worry about money again
- You want to work for the rest of your life; not to make a lot of money or to enjoy your life after a few years of hard smart work, but rather just for the sake of working. You still believe that even today – contrary to what most are experiencing today – if you just work hard everything will work out. You don’t believe in leveraging your efforts, time or money.
- You prefer poverty to riches and think money is the devil. A residual income business is definitely not in line with your beliefs and will likely cause lots of conflict in your life!
- You are not willing to step out of your comfort zone and try something new, even if it meant you could end your financial worries thereby improving your family life and overall level of happiness (unpaid bills and living off credit creates stress and fear which does not make one happy). Your level of (perceived) comfort is more important to you (wouldn’t you be more comfortable earning residual income while you’re at the beach with your family or friends?)
- You care more about what your peers or friends, family and neighbors think than you do about you or your family’s financial health or happiness. What would “they” think if you were to start a business from home, trying to provide a better life for you and your family instead of sitting in front of the TV every night like “everybody else”? You should instead just accept your life for how it is and that it will never change, right? Who do you think you are anyway, trying to get ahead and make something of yourself? (Besides, you don’t really want a better life, do you?)
- You are just too busy. You’ve only got 168 hours a week and setting aside 20 or so of those hours – maybe more or maybe less – just isn’t worth it to you. You enjoy staying busy because that’s what you know and even though you could use more income and more time, you are convinced there’s no way to reallocate your time to create a better future. You’re just going to keep doing what you’re doing and hope for a different result (which is the definition of insanity, by the way).
- You can’t bear the thought of investing money into your future, to partner with a multi-million dollar established business to be able to plug into a proven system for success in an industry that has created more wealth than any other. No, you’re all about getting something for nothing! (Besides wouldn’t you rather spend money on an iPad instead of becoming financially free? I mean you’ve only got like 6 months before the iPad 3 comes out after all…)
- You prefer the entitlement mentality – that someone should just give you a business and you should be able to make money just because… I mean this is YOU we’re talking about after all, why shouldn’t you get whatever you want without having to work for it? You definitely don’t need a residual income business!
- You don’t have any skills related to marketing, communicating, sales or anything else AND you are NOT coachable, open or willing to learn these new skills so that you can be successful like so many other people who started with no skills who are now today financially free.
- You think you can recreate the wheel on your own and do it better. “System, Schmystem. Just look at McDonalds – I can make a better hamburger. Who cares that they make billions and billions of dollars a year through their proven system, I will be the one to prove them wrong…“
This is only a handful of reasons why NOT to start a residual income business, I could list many, many more but I think you get the picture. As I said above, a residual income business is not for everyone.
For Those Seeking Reasons TO Start a Residual Income Business
Now on the other hand – just in case you weren’t ruled out with one of the reasons above, LOL – if perhaps you’ve come to conclusion that maybe you should take a closer look at starting a residual income business, click the link below to learn the many benefits and advantages of a residual income business as well as few other important money making secrets for creating wealth: Money Making Secrets
If you’ve got any other reasons I may have missed for why NOT to start a residual income business, please post them in the comment section below – I don’t want to leave anyone out!
Originally posted 2011-07-20 17:08:25.