Make Money While you are on Vacation
Introduction
Isn’t it a good idea to just go on vacation and still have money going into your bank account? This is the dream of all aspiring business men and exactly what most of the successful business people have in common. The good news is that it can be achieved in almost any business. Most people start a business so as to take control of their life so they can have more time and more money. 80% achieve the second goal but the rest end up making their own business another job. Exactly what they were running a way from!
What you stand to gain
The advantages of a system like this are countless.
• You get to spend more time with people you love,
• You share tasks in your business making it easier for all
• Other people do the hard work for you
• You can then channel your time to other things
• You can successfully run up to 5 businesses this way
Requirements
To successfully implement this concept in your business, you need to be very careful. Doing this incorrectly has ruined a lot of businesses. Some people have also lost their businesses to their subordinates. You need to have put some systems in place to tell your workers what to do and to check them to make sure the job is being done properly.
This will require a system of teaching people how the job is done (Training), Showing the business what to do in different situations (Policy), Directing the business to its ultimate goal (Strategic Plan), make sure the different tasks are being done correctly (Quality control) etc. There are two books I have read and dwell on this subject. The first one is Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and Middle Class Do Not!
. This book lays the foundation of what components or systems a business needs to be successful. The Second book is The E-Myth Revisited
by Micheal Greber. This one goes into details with a very vivid example on how to structure a business for success. This two books are recommended if you want to start and grow your business successfully.
Has it been done before?
Yes it has been done successfully in a lot of businesses around you. Take a look at the big businesses, the banks, the telecoms companies etc, do you think the owners of the business need to come to work? That is exactly what they do.
They start a business, train other people to run the business and then go home and maybe start another business tomorrow. It could be you.
If you decide to take that step today, there are some ready-made businesses that can start you off very fast on this route and make sure that in a few years or less, you could retire. The challenge is in the first 1-3years. Once you get it right, you may not need to work again.
Affiliate Programs
In this program where a business pays you for referring someone else to them and the person makes a purchase. All you have to do is just to promote that business. The internet has made it very easy for a lot of companies. There are several internet affiliate programs like Commission Junction (Various Products), Amazon (Books
) etc. A search on google for affiliate programs will show you many more. Most affiliate programs are free to join.
Network Marketing (MLM)
This is where products are promoted through a network. The beauty of Network marketing is that you only concentrate on recruiting (introducing) a certain number of people you know to the network and then teach them to do the same thereby creating a network. You get a percentage paid for all your referrals and your referral’s referral. Some go deeper than that. So basically, you work for a certain period then you stop.
These two types of programs are very attractive to start a business with because
• The business structure has been created for you, just bring customers and the company handles the rest from follow-up to closing the sale
• Its cheap or free to start and
• Your work hours are flexible, you work at your own time.
Well a lot of businesses now combine both types of systems in their marketing strategy. The idea is that a lot of people buy from a business if someone they know refers them there. Also why not pay people for not only referring people to your business but for also telling their friends to refer more people?. It works!
Conclusion
You don’t have to struggle with getting time for yourself from your business. There is a better way. You don’t also have to quit your current job to build your business. You can build a business in which you don’t have to be there for the business to run. This is the foundation of businesses that outlive their owners and create great wealth.
If you have can’t get the books, let know, I’ll get them for you. If you have any question or need help structuring your business, feel free to comment on this post, mail me (cagbakwuru@workabusiness.com) or drop a comment on The Business Man on facebook page.
Isn’t it a good idea to just go on vacation and still have money going into your bank account? This is the dream of all aspiring business men and exactly what most of the successful business people have in common. The good news is that it can be achieved in almost any business. Most people start a business so as to take control of their life so they can have more time and more money. 80% achieve the second goal but the rest end up making their own business another job. Exactly what they were running a way from!
What you stand to gain
The advantages of a system like this are countless.
• You get to spend more time with people you love,
• You share tasks in your business making it easier for all
• Other people do the hard work for you
• You can then channel your time to other things
• You can successfully run up to 5 businesses this way
Requirements
To successfully implement this concept in your business, you need to be very careful. Doing this incorrectly has ruined a lot of businesses. Some people have also lost their businesses to their subordinates. You need to have put some systems in place to tell your workers what to do and to check them to make sure the job is being done properly.
This will require a system of teaching people how the job is done (Training), Showing the business what to do in different situations (Policy), Directing the business to its ultimate goal (Strategic Plan), make sure the different tasks are being done correctly (Quality control) etc. There are two books I have read and dwell on this subject. The first one is Rich Dad's Guide to Investing: What the Rich Invest in, That the Poor and Middle Class Do Not!
. This book lays the foundation of what components or systems a business needs to be successful. The Second book is The E-Myth Revisited
by Micheal Greber. This one goes into details with a very vivid example on how to structure a business for success. This two books are recommended if you want to start and grow your business successfully.Has it been done before?
Yes it has been done successfully in a lot of businesses around you. Take a look at the big businesses, the banks, the telecoms companies etc, do you think the owners of the business need to come to work? That is exactly what they do.
They start a business, train other people to run the business and then go home and maybe start another business tomorrow. It could be you.
If you decide to take that step today, there are some ready-made businesses that can start you off very fast on this route and make sure that in a few years or less, you could retire. The challenge is in the first 1-3years. Once you get it right, you may not need to work again.
Affiliate Programs
In this program where a business pays you for referring someone else to them and the person makes a purchase. All you have to do is just to promote that business. The internet has made it very easy for a lot of companies. There are several internet affiliate programs like Commission Junction (Various Products), Amazon (Books
) etc. A search on google for affiliate programs will show you many more. Most affiliate programs are free to join.Network Marketing (MLM)
This is where products are promoted through a network. The beauty of Network marketing is that you only concentrate on recruiting (introducing) a certain number of people you know to the network and then teach them to do the same thereby creating a network. You get a percentage paid for all your referrals and your referral’s referral. Some go deeper than that. So basically, you work for a certain period then you stop.
You can get more information on Network marketing here
These two types of programs are very attractive to start a business with because
• The business structure has been created for you, just bring customers and the company handles the rest from follow-up to closing the sale
• Its cheap or free to start and
• Your work hours are flexible, you work at your own time.
Well a lot of businesses now combine both types of systems in their marketing strategy. The idea is that a lot of people buy from a business if someone they know refers them there. Also why not pay people for not only referring people to your business but for also telling their friends to refer more people?. It works!
Conclusion
You don’t have to struggle with getting time for yourself from your business. There is a better way. You don’t also have to quit your current job to build your business. You can build a business in which you don’t have to be there for the business to run. This is the foundation of businesses that outlive their owners and create great wealth.
If you have can’t get the books, let know, I’ll get them for you. If you have any question or need help structuring your business, feel free to comment on this post, mail me (cagbakwuru@workabusiness.com) or drop a comment on The Business Man on facebook page.
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