Coaching Corner: What’s holding you back from residual income?

November 17, 2009

The following article is an excerpt from my newsletter, CLR Inspire (http://www.aweber.com/z/article/?clrinspire) If you’re an entrepreneur you may find a few tips to take away!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

You know about residual income and indeed would like some in your business. So why aren’t you creating any?

Common reasons (excuses?):

  • It can’t be done in my business.
  • I don’t know how. What would I do?
  • I’ll do it later. I’m too busy now.
  • It’s not in my business plan.
  • It would take money, which I don’t presently have.

Now, let’s just imagine that

  • it could be done,
  • you knew how,
  • you weren’t too busy,
  • it could be put into your business plan,
  • you had access to the money you needed,

Really relish the possibilities. Dwell on what you could achieve now that all is possible.

What would you do next to create residual income in your business? And what next? Could you write out a plan?

Now determine not to think impossibility, but that anything is possible if you can just believe. When we are open to possibility our sub-conscious minds draw us to the solutions we seek. In issue 6 , I mentioned the Reticular Activating System (RAS), a part of our brains. The RAS sorts through the many stimuli we are exposed to and brings to our notice the information we need. Think possibility and empower your RAS to find your solutions. Think impossibility and your RAS will find reasons why it can’t be done. (See the feature article in issue 6 for how to make your RAS work for or against you)

There is always some way that you could repackage what you presently offer, or find new ways to meet clients’ needs, that could generate residual income. Find out what others in your industry are doing, all around the world. Set up Google alerts for your key words, or do a web search. If you can think of any, why not hit reply and share them with us here? You just might be helping someone who needs it. Tell us what you do and how you could create residual income in your business. And if you would like coaching feedback from me, I am happy to give you a complimentary email session. So get typing right away!