Despite what you may have heard, creating passive income is hard work! In fact it's anything but, well…passive! It requires action and lots of it, but the rewards can be oh so sweet!

 passive income formula

Sorry if I burst your bubble, but the truth is, everyone wants passive income...yet few are willing to make the necessary changes and do what it really takes to get it. That's why so many people are lured to network marketing - they hear what they want to hear. "It's simple."

 

What they didn't hear - or chose not to hear - is that the concept of network marketing may seem simple, but becoming successful at it isn't easy. This happens in other industries too. Everybody wants a quick buck with as little effort as possible...but if that were the case everyone would be doing it.

 

Preparation + Planning + Productivity = Path to Passive Profits!

Notice the implied "action" in this formula? In other words, do the work now to get the desired results later. It ain't for the faint of heart. You're not going to suddenly become wealthy overnight, in a week, or even in a month.

 

If that's what you thought - then see ya later!

 

Will you make money right away? Yes, you can definitely begin generating income - just don't expect a huge payday early on. A lot of stars would need to be aligned for that rare occurrence.

 

But if you're really willing to do whatever it takes to reap the big rewards later…approach your home business with a purpose now. It's not just about setting goals. It's about designing the path to get where you want to go.

 

The end of the year is the perfect time to take stock of where you are now and where you want to go in the next 12 months. Prepare, plan and strategize the path of your home business now. With the right tools, support system and a great plan in place…what's left?

 

Hard Work!

 

That's right...it's time for action - consistent daily action on each and every aspect of the plan you lay out. Make sure you're being productive. Without purposeful action, business doesn't grow and you don't prosper.

 

You're in business to make money, right? So it only makes sense to maximize and optimize the time you spend on your business to increase your bottom line.

 

Work Smarter, Not Harder

 

As a former teacher and coach, I often used a tactic designed to "catch 'em being good." I made a concerted effort to be on the lookout for "desirable" behavior that would likely produce a successful outcome for the student.  I would then immediately acknowledge and reward that behavior as a matter of conditioning.

 

Over time, the kids would develop better work habits and stay on task more frequently. The pay off: higher quality work, better compliance, positive results.

 

This same theory applies to your own business work habits.

 

In the beginning stages of developing my own business, I had to make a concerted effort to catch myself if I was not using my time wisely...which was frequently!  😉

 

Either I was distracted by social media or fell victim to Shiny Object Syndrome (topic for another discussion)  or I found myself with analysis paralysis - a vain attempt to make everything perfectly fit for public consumption.

 

Translation: Dead in the water. No progress.

 being perfect

You see, perfection can be the enemy of progress. I quickly realized I needed to prioritize my activities based on their potential to get me closer to my income goals.

 

 

Are you plagued by analysis paralysis? Catch yourself being good. Celebrate the smaller successes and stack them to build your confidence.

 

Prioritize Tasks According to Their Income Potential

 

To determine whether a particular activity is a good use of your time, ask simple questions like

 

1. Will this activity result in more clients or customers?

2. Will this activity result in learning a valuable new business skill?

3. Will this activity result in the sale of a product or service?

4. Will meeting with this person likely result in a sale?

 

If the answer is no, it's not a priority. Start your day with the tasks you're most resistant to. Being busy isn't the same as being productive AND profitable!

 

Of course there are many other tasks worthy of your time, such as relationship and value building for your followers. Just know which activities are income producing and start with those first before moving on to the other tasks.

 

Prep, plan and be productive every day and you will create passive income for yourself down the road. How much? That's up to you!

 

 

 

Eryn McCormick is an online marketing entrepreneur, coach and award-winning blogger. She's a woman on a mission to "inform, inspire and ignite" people to take action to recapture their own earning power by leveraging their skills, talents and abilities to start an online business from their home computer or on the go with a mobile device.

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