The 2 Biggest Mistakes In My Business & What I Learned About Residual Income
Since I originally joined Avon back in 2001, I have definitely had my ups and downs.
I have had good times and bad times. I have made mistakes and learned from them, and I have done some things perfectly.
It’s like that for all of us. We’ve done some things perfectly and made some mistakes. As long as we’re learning from our mistakes and making course corrections as needed, we are golden.
Two of my mistakes really stand out.
My first big mistake was opening a retail store. It was not a bad thing, and it was a great experience for me. I learned a lot throughout the process. But it was probably not the right decision at the time. I explain that in more detail in the video below.
But I think the biggest mistake I’ve ever made in my business was letting my mind wander to “the grass is greener elsewhere” thinking. This one mistake has cost me massive business growth with Avon, as well as hundreds of thousands of dollars.
But along the way, I’ve learned a lot of things.
One of my biggest Ah-Ha moments was regarding Residual Income.
I have always known what residual income was. In the simplest terms, it’s doing something right once, and getting paid over and over again for the effort you did that one time.
A great example of this is a singer/songwriter. Think about Neil Diamond – my idol – he has written many, many songs which have become great hits. He goes into the recording studio and makes a recording. Now, every time that song is played on the radio, or purchased, Neil earns money again and again. That’s the amazing benefit of residual income.
Our Avon business provides the same kind of residual income. And even though I understood that, it wasn’t until my experience with residual income hit me between the eyes that I really understood the impact of it.
I hope hearing my experiences help you. We all have to learn, and sometimes it’s easier if we can learn through other people’s experiences rather than have to go through it ourselves.
And if you can understand what I learned about residual income; I believe it will totally change how you work your business. 🙂
Thoughts? Please share in the comments below!
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By Lynn Huber
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