I’m going to keep this lesson simple …. Are you implementing my INCOME WHEEL money-making strategy to make money? I’m sure you’ve never heard of (my) income wheel, and that’s okay. After you do, you’re going to love it. So, here it goes …
I came up with the INCOME WHEEL a long time ago as a forward-thinking money-making strategy that would define where I put my efforts when it comes to making money. Allow me to introduce to you the INCOME WHEEL:
As you can see, there are four (4) sections:
#1: PRODUCTS: Because we can’t be working all the time or be with people all the time, our products can be selling ALL THE TIME making us money. If we want to take time off, we can, and our products will continue to sell bringing in extra income.
#2: SERVICES: With the sale of products, we’ll build a database of clients and customers who want our time and our help. That personal attention and help can be delivered in the form of one-on-one consulting or in group-format such as a class, webinar, tele-seminar, workshop, seminar or boot camp. In group formats, you can charge less than you would if someone wanted your time one-on-one. Record your group session training and turn those back into products to make you more money.
#3: AFFILIATES: At some point, you’ll run out of products, which you’ll create on your own. No one knows everything, right? So, what happens? You go out and find complementary products/services you know your customers and clients would like. The reverse happens as well, whereas others will want to promote your products/services to their list. In both cases, you earn affiliate commissions when sales take place. Yay, mo’ money!
#4: INVESTMENTS: At this point, you’ve worked hard. Isn’t it time to take a break and let your money work for you? This is where finding the right combination of investments can help turn your money into more money. I’m talking about real estate, stocks/penny stocks, futures/options, Forex, gold/silver, mutual funds, you name it. Whatever floats your boat and you have an interest in, pursue it and see where it takes you. I know for me, futures/options are where I go with my extra money. So, I’ll take some of my income from the sales of my products and dabble in the market with the help of mentors to help guide me into growing a small account into a larger and larger account. In 3-5 years, I should have enough money to where I don’t have to work. My money is now making money for me in ways sales and services could never bring me. You too should consider this line of thinking if it makes sense to you as well.
So, what do you think of the INCOME WHEEL? Do you think you’ll put it into practice now with your money-making activities? Hey, I hope it helps. Let me know what you think about my INCOME WHEEL.