One of the questions I get quite often is: Can I really make a six figure income online? I usually respond to that question with a few followup questions of my own for clarification. I need to understand where the person is at currently, specifically their mindset. If they believe they can make a six figure income online, they have a pretty good chance of doing it. If they don’t believe, it almost certainly is not going to happen.
There are key items to consider when planning on making a six figure income online.
1. The 8K Factor: If you are going to make a six figure income, you will need to average a little over $8000 a month. This means you need to be making $8000 this month, or be heading in that direction. If you find the $8000 a month way out in the future, your six figure annual income will be way out in the future as well.
2. What have you made in the past? This is an extension of point one above. If you have never made this kind of money any time in the past, you will need to have a plan on how you are going to get there. If you have made $100,000 annually in a job or other venture, getting back there will not be that hard. If you believe you can get there, that is a big part of the equation.
3. What are you making now? If you are making little or no money online at this time, getting to $100,000 a year may be a big challenge to go after right away. It is fine to set lofty goals, but you want to have some success along the way. A goal of an $8000 month may be more realistic for you at first. You are the only person that knows your motivation and drive to get to a six figure income. Most people need positive reinforcement along the way.
4. Do you have residual income? What percentage of your current earnings are residual? If you do not have more than 50% of your current earnings in residual income, you will have a hard time sustaining and then growing your income. If you are having to sell your product and service every week and month to make your income, it is fairly difficult to get to $8000 a month and stay there. Residual income is a factor you need to take into account.
5. Do you have a business? This may seem like a crazy question, but it is a valid one. Are you running a business or are you just doing “stuff” to make money? If you are running a real business, you are treating it as a business. This factor alone will help you on your path to success and a solid six figure income. Selling real quality products to happy buyers with a high level of customer service are good indicators that you have a real business.
6. Do you have a business plan? Once you have a solid business, you need a well thought out business plan. If you do not have short term and long term goals and plans to meet and exceed these goals, it will be very difficult for you realize a solid, six figure income for your business.
Patrick McTigue is a full time network marketer and success coach with six years of experience in successful team building. Can you afford to struggle for 18 months to get your online business in profit? You don’t have to. Our team will show you how to maximize your success in as little as 3 short months. You can find out more information on how to make this happen at our team success site.
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