How are you working on your ongoing income?
The Warren Buffet quote “If you don’t find a way to make money while you sleep, you will work until you die.” rings true with me. What are you doing to create ongoing income for yourself that will carry you through times when you can't work?
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I am working with Stream Energy. You enroll customers and associates. You get paid month after month every time people pay their electric and cell phone bills. Residual income for the rest of my life.
As a life coach, I've created e-courses and an e-book that are promoted by affiliates. I also am starting to do live webinars, which I can then sell as recordings. I enjoy course creation and it gives me the ability to help more people than I could with only doing one to one coaching and at less of a cost for the client. It also provides me with more time freedom and ongoing income.
Rental properties.
I own a franchise-like, Amazon-type online store that allows me to sell brand name services like Verizon, Frontier, Vivint, etc. I sell it once. Get paid mostly forever. Looking for smart, business-minded, well-connected partners who want their own store.
I am working on making eBooks for very niche topics on which I consider myself to be an expert in.
I am always developing new programs and services that I can offer through my business. They are extensions of my gifting services.
I am finally able to start working with a person that specializes in Marketing and growing my business.Putting me in more than one place at anyone time.
I wish I had enough money to have rental properties. However, I am an editor and proofreader, so I advertise constantly.
I have built my business from the beginning so that a professional manager handles day-to-day. As I expand I am going to continue that model so that it can be sold (to provide investment income) or continue to operate and provide revenue.
As a freelance journalist, every job I have is a "one off" in that I'm only on contract for that particular assignment. What I have to do, and what I usually do, is find another assignment that particular client might find compelling in addition to the one I'm writing for them. It's my job to continue the relationship with ongoing work.