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Showing posts from November 7, 2021

Hope Tethered to a Strategy

No doubt, you have heard the expression, "Hope is not a strategy".  Just so you know, I am not "going there".  The expression is somewhat flippant and unserious. The statement offers little of value.  I simply wanted to mention it to frame something that is of value. It is important to understand that what we do is noble.  What we do is important.  We help people by showing them a path to improve their financial condition.  We inherently instill "hope".  It is the aspirational idea that things can and will be different.  It is the promise of money being a lubricant to life by providing the means for security, and ultimately with time and effort, prosperity. However, hope is not enough.  It needs to be tied to a strategy that is realistic and can be implemented with a reasonable amount of learning and effort.  This entire blog talks about all of the variables that constitute this "strategy". If your head and heart are in the right place, ...

Competence and Compensation

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 I created this graphic as a Facebook and Instagram post.  I simply wanted to include it as a post. It speaks for itself. No explanation is necessary.

Recurring versus Residual Income

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I am splitting hairs here a bit, however, I want to point out a difference between two terms based on the income platforms we employ.  Many times, recurring and residual income are used interchangeably.  From my perspective, they are not the same.   Both are also referred to as "passive" income because both continue to pay regardless of whether there is still active work being done.  However, in the models we use, for income to recur (periodically), an effort has to be applied to make it happen.   In other words, if you need to work with people to get paid, it is not automatic.  It is "earned" in the true sense of the word.  It can and will recur, based on the business model, but it is not automatic.  It is dependent on people doing something in order for you to derive any income. Residual Income, on the other hand, is "automatic".  It is tied to automatic payments on a calendar basis and linked to someone's bank account, credit/de...