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Types Of Income

Get Results: types of income graphic
Get Results: types of income

When it comes to earning a living, there are so many different options, but if you want to be really wealthy, as in having lots of spare dosh, what’s the best way to go about it? For a more in depth guide, check out our wealth guide, here.

We’re keeping the discussion limited to income options in this post, but our wealth guide talks about dealing with expenditure as well.

#1 LINEAR income

This is the option of providing value once, and getting paid once for it. It’s the route the majority of people go down, trading time for money, as in working for a salary, or a fee, if you’re a freelancer. This is considered the least expandable, because there is a limit to the number of hours you can work and the income you can make. Sure you can, if you’re say, a sports star earn incredible income from your work, but it’s still limited to some extent. Many sports stars earn extra income from merchandising or other deals that take advantage of their celebrity.

#2 PASSIVE income

Create or buy assets or provide value once, and get income from it over and over again. This could be achieved from buying stocks and shares, and getting dividend payments year after year, or royalties for say music or art that you own, or licencing of intellectual property that’s yours. If you’re thinking of charging for say a video course, you film it once, and get paid over and over again for it, if it’s considered valuable enough.

Some other examples of recurring income

  • Affiliate sales
  • Property income (rent) or profit made from buying and selling
  • Marketing activities that attract paying customers
  • Royalties from intellectual property (art, photos, ideas, writing, music)
  • Licencing fees (ideas, inventions, IP)
  • E-books sales
  • Book sales
  • Pension income
  • Stocks and shares income
  • online courses (videos, e-books and email automated)vert
  • Peer to peer lending
  • Rent out a room in your house (Airbnb style, or to a student, or lodger)
  • Lead generation website – supplying leads to local businesses
  • Online store selling products that can be drop shipped
  • Youtube videos that are popular and have advert placements on them
  • Pay Per Click adverts on website
  • Property renting out advertising space (car, building, fence)

#3 RECURRING income

Recurring income comes about by providing ongoing value or owning assets that you get regular payments for. This would include things like memberships or subscriptions for magazines or websites that you own, or from rent, if you’re a landlord.

#4 LEVERAGED income

Last but not least is leveraged income, which involves making income from other peoples resources, such as their money, time, effort, assets, skills, or popularity. You can do this if you own a business and employ people for instance, you get them to use their skills to make you money. You can also leverage other people’s resources via partnerships or joint ventures.

Other examples of leveraged income include

  • Owning a franchised business
  • Network marketing (avoid these)
  • Being a talent agent
  • Owning a freelancer service website where you earn a commission

So there you have it, I’ve tried to keep this post as short and concise as possible, hope you got some value out of it.

Get Results: buy and sell assets graphic
Get Results: buy and sell assets

Marketing: The Story Of The Lottery Ticket

Get Results: marketing quotes battle of perceptions
Get Results: marketing quotes battle of perceptions

A teacher stands in front of his class of business executives and holds up a lottery ticket. He says to the audience,

“This ticket was an unsuccessful match for numbers two weeks ago. It cost me £2 for it. Will anyone give me £2 for it?”

None of the class responds.

“I’d happily take the best offer you’re willing to give for it, anyone?” asks the teacher.

Again, none of the class responds.

“I’d happily take 20 pence for it, last chance!”

There is a nervous shifting in chairs as the audience look at one another confused, but again none of them responds with an offer for the ticket.

“Okay”, says  the teacher. “Well, if I tell you this ticket didn’t win anything two weeks ago, because I only actually purchased it for the lottery this coming weekend. What would you give me for it now?”

There is a number of humorous exchanges between audience members before one of them shouts out “I’ll give you a £1 for it.”

The teacher asks “Any better offers?”

Another audience member shouts out “I’ll give you £2!”

“Okay!” says the teacher, “I think I’ll keep hold of it in that case, because this ticket wasn’t purchased for this weekend’s lottery, it was purchased for last weekend, and it was a winning ticket for the £30 prize!”

Now the audience members responded with some laughter and a realisation they have been fooled.

The teacher asks “Now what will you give me for this ticket?”

One of the audience says jokingly “I’ll give you £2 for it!”, but then offers £20

Another says “£25!”

The teacher hands the ticket to the person who has offered £25 and says “It’s yours”, the person gives him the £25 after checking that the ticket is a genuinely winning ticket, he realises it has in fact won the £100 prize, not the £30 as stated by the teacher.

The teacher asks, “So this person has got herself a £100 prize which has cost her just £25! How silly do the rest of you feel now lol?”

The audience agrees they have missed out on a great opportunity, and congratulate the woman who had got herself a great deal.

Now this story is used to illustrate the perception of value and how it can be manipulated.

When the class are led to believe the ticket was a failed attempt from a couple of weeks ago, it is valued at zero. None of the audience perceived any value in it at all, and why should they?

When the ticket is described as actually a ticket purchased for the upcoming lottery draw, audience members value it more, in fact £2 is offered for it, which is the face value of the ticket anyway. Why has the audience member offered this? Well because that is the market value  for a ticket in an upcoming draw, and the person may think they have a chance to win something with it, as they would if they purchase the ticket themselves. In fact they were going to buy a ticket anyway for this weekend’s draw and think the opportunity that has presented itself may be a lucky omen.

When it is revealed the ticket is in fact a winning ticket, the offer goes up to £25, which still provides a surplus of £5 for the winning offer, which of course is still a good deal.

When the audience discovers the prize is actually £100, much of them feel quite envious of the winning bid, because they have missed out on an even better deal.

The ticket is the same ticket throughout this whole scenario, the only thing that has changed throughout, is the story the teacher is telling the audience, about the value of the ticket and the subsequent perception from the audience.

The value of the ticket isn’t wrapped up in the material it’s made of, after all it’s just made of paper! It’s not wrapped up in its cost, the cost of the ticket is the same in all the proposed situations.

The value of the ticket is perceived to be in its winning potential, in its reward value.

If I told you I could guarantee you £2 for every £1 you spent with me, would you not spend as much money as you could get your hands on, if you trusted me to deliver on that promise?

Of course you would!

That’s what marketing is all about, the promise of a reward that outweighs the cost of that exchange. The rewards don’t have to be just monetary gains either, psychological gains are often even more important. Having more money is only valuable because of what having more money means to you; more money equals more freedom, more choice, better or bigger possessions etc.

If you can genuinely provide more value than you take in return (in the way of money), and make sure the audience perceive that value, you’ll be a successful marketer.

But remember great power comes with great responsibility. Use your marketing powers for good, and keep your  promises!

Otherwise  you’re not a marketer, your a scammer.

Check out our marketing guide, here.

Deal With Rapid Change

Get Results: rapid change
Get Results: rapid change

The modern world is fast moving, and we are, more than ever, required to try to keep pace with it. This requires the following…

To have a big enough WHY – If you’re not driven towards something, you’re going to struggle to find the motivation to learn what needs to be learned, and to do what needs to be done. Aligning your inner purpose with your outer purpose is a sure way to commit to the cause.

Ensure there is NO RESISTANCE – let go of the way things are, release any fixation you might have on the way things are or have been and open yourself up to the new, which brings me nicely onto the next point.

Open your mind to new ways of working, at least to the actual way things are now, today and keep one eye on where things are heading.

Keep looking forwards – stay ahead of the curve. The pace of change  might scare you, because often change means risk and uncertainty, but with the right mindset, it also presents opportunities. Position yourself to take advantage of the way things are going to be. It’s going to happen, whether you like it or not, so better to make the most of it, rather than burying your head in the sand and pretending it’s not happening.

The next point is to become a FAST LEARNER! The skill that is going to future-proof you is the ability to learn new things as fast as possible. This starts with having the right mindset; be a lifelong learner, a master of what you know and an apprentice of what you don’t know. The fastest and most effective way of learning is by doing. You really can’t beat experience and purposeful practice.

Keep bureaucracy to a minimum, that of you or your organisation. This includes any regulations and rules you might operate within. Use just enough to get the job done. We can take a lead from nature with regards to this. The impressive flying acrobatics of Swallows runs on 3 simple rules; avoidance, direction and distance. Complex communities like that of Ants is based on simple rules that don’t rely on mountains of regulations, paperwork, check sheets and meeting about meetings.

Give yourself a a GOAL, and use it to gauge general direction, rather than it being a rigid, fixed, non-movable destination. Remain open to accidental discoveries and serendipity, but be wary of temptations and distractions that gets in your way and damage productivity and progress. There’s a fine balance to be struck here, which can only be fine-tuned through trial and error.

Finally use the getresults framework to ensure you KNOW – WANT – DO what’s necessary to get the results you’re seeking. Sign up for our newsletter to learn more.

 

Healthy Eating: Baked Salmon With Prawns and Veges

Get Results: healthy eating: baked salmon
Get Results: healthy eating: baked salmon

Today is fish day

Baked salmon with prawns and veges

Pre boiled baby potatoes

Sliced onions and red peppers

Cherry tomatoes

Fine beans or any of your fav. veges.

Season salmon and veges with salt and pepper and put everything together in your baking dish.

Add a knob of garlic butter and half fresh squeezed lemon juice, chopped parsley and drizzle with olive oil. Baked at 200°C for 25-30mins. 

While you’re here, why not check out weight loss guide, here

Managing Organisational Change To Get Results

Get Results: nothing changes if nothing changes
Get Results: nothing changes if nothing changes

Managing organisational CHANGE

Change is hard for one person, doing it yourself can be really difficult, let alone managing the change of a whole organisation.

Everyone is different, motivated by different things, with their own personal insecurities and fears.

How is it even possible to manage what is essentially a very personal thing, but on a one-size-fits-all basis, as you would with a large organisation?

We have one thing in common, in that we all want to improve our current situation, to feel we are improving in some way. This can come about through…

  • Feeling more valued
  • Feeling we are contributing more through our job function
  • Learning new skills
  • Our ability to make use of our talents
  • Being trusted more to use our judgments and skills
  • Not feeling like we are being exploited and used without any of the benefits
  • believing we can move forwards or upwards within the organisation
  • feeling we are not getting caught up in unnecessary politics within the workplace, and being supported when flare ups occur

It’s important we don’t over pander to employees, instead treat them as adults, with responsibilities, but be supportive, when required.

Get Results: the process of transition
Get Results: the process of transition

There are lots of frameworks that lay out the step by step stages people may pass through, throughout the change process; feeling anxiety, happiness, denial, then fear, guilty, depression, hostility, and finally acceptance (as in the illustration above). These kinds of frameworks can give us some appreciation of the possible stages our employees may go through, but they aren’t going to help us actually manage the change process, because they fail to account for the complexity of individual employees and the fact that employees have different fears, and motivations, and will be going through different stages and emotions at different times and for different reasons.

Let’s now look at the possible objections employees might have to any organisational change.

Get Results: emotional and practical
Get Results: emotional and practical

Why employees resist CHANGE

They may fear losing something from the  current status quo.

They may just be indifference to the change process and/or destination the organisation is hoping to move towards.

They just can’t see or don’t agree with big picture vision of what the organisation is wanting to do.

They don’t agree with the path forward and the possible discomfort they might have to endure while making the transition, or they might just think there is a better solution available to the organisation.

They might feel they are already overworked and don’t want more workload on top of what’s currently on their table.

They may feel ignored or excluded in the decision making process.

They may fear a loss of face, responsibility, job security as a result of the change process.

They may be suspicious of some hidden agenda – fear a devaluation at some point – lack of trust in those who yield power.

They may feel change will be slow or it might prevent some self interested increase  or advancement further down the line.

They may fear they will lack autonomy going forward or fear extra responsibility in future, which they are uncomfortable about.

Now not every employee will have such objections, others will have some or all of the above. A one-fits-all solution is not going to be an effective approach to implementing change because of such complexities.

The way ahead for long lasting CHANGE

So the question becomes, how do we effectively manage change, taking all these concerns and complexities into consideration?

Well you would have to first ensure that the organisation goals and change process are aligned to the inspirations of employees whilst actively managing their fears on a one to one basis.

This could be achieved by ensuring they feel more valued, have more autonomy, learn more skills, are trusted to make decisions, are able to contribute more etc.

The change process will only be successful, if employees are involved, are part of the process, and benefit from the changes.

Take employees through the getresults.org.uk framework, and improve their self awareness, improve their ability and willingness to take responsibility, ensure they are open minded and able to see possibilities rather than risks, help  them be more committed to the process of change, by dealing with their own fears, discomfort and conflicts with the support of the organisation, at every stage.  Sign up for our newsletter for more info.

Change requires employees to acquire the necessary knowledge to make progress, be more motivated to seek improvements and learn better techniques and methods, and embrace the opportunities to improve productivity.

The organisations leadership should be like a gardener, preparing the ground, the space, to make it easy for nature to do it’s thing, rather than being like the carpenter, who tries to control every aspect of the work, shaping it to his/her wishes.

If your method for change doesn’t align with the natural instincts of employees, and doesn’t take advance of human nature, you’re facing a path of conflict and struggle.

In his book “Brave new work”, Aaron Dignan uses the following method for organisational change.

Get Results: the transformation loop
Get Results: the transformation loop

This is an inclusive, persistent, continual process of evolution rather than revolution, where employees are empowered to remain involved in the evolving process permanently. It breaks away from a linear process, one step, then the next, and instead involves looping through a cycle of noticing Tension, Practice and Experimentation. I’d recommend checking out his book for more about this approach.

For more info about getting results and the methodology we use, sign up for our newsletter, or look through the information on this website.

 

Be Creative and Connect With Something Deep Inside

Get Results: creativity is just connecting things in a new way
Get Results: creativity is just connecting things in a new way

Connecting with your creative instinct can provide you with a deep sense of fulfillment. Creativity has a way of directly touching something in our soul. Personally I find it rejuvenating, fulfilling and even spiritual.

Be more creative!

For efficiency we tend towards path of least resistance, often this is the path taken before; routine, habit, structure.

We have to dig deeper to get more creative.

Get off the path of least resistance, and try something new, a change of direction.

Step out of your comfort zone and learn a new skill.

Specialisation is rewarded by society, but it is binding and narrowing, whereas trying lots of different things, means a greater variety of inputs, more influences, more diverse experiences.

To do new things, you have to be confused and frustrated, at least to start and to be creative, to think outside the box, you have to be willing to be wrong.

Brains are novelty seekers, they gets bored easily.

We have to push boundaries.

If we go too crazy, too far out, nobody is going to follow us there. The secret is to explore the range of possibilities, pushing boundaries  everywhere to figure out what works and push the limits of creativity.

Our brains can interfere with the creative process, we fear failure. Don’t be afraid of failure – success rises from the ashes of failure. Embrace the possibility of failure as an opportunity to try and learn

You don’t have to invent something completely new to be creative, use an old idea in a new way. Blend different ideas into new ideas, different things into new things.

Develop a creative mindset, take risks and try something new TODAY!

Healthy Eating: Grilled Chicken and Orange Salad Couscous

Get Results: Healthy Eating Grilled Chicken and Orange Salad Couscous
Get Results: Healthy Eating Grilled Chicken and Orange Salad Couscous

Simple and easy meal to make. If you fancy a bit different taste to usual BBQ chicken flavour, why not try this?

Grilled boneless thigh chicken marinated in fresh
Juice of 1 whole orange
Juice of 1 whole lemon
1 tbsp wholegrain mustard
A little bit of salt and pepper.
Done.
Serve with couscous and salad. I made leaf lettuce, spring onions, peeled oranges and salt and pepper for my salad. 

Stay Motivated: With Quote Graphics

Quote graphics are a great way to stay motivated, check out some top quotes, and keep the page bookmarked because we’ll be changing these graphics regularly.

Healthy Eating: Couscous and Sticky Chicken BBQ

Get results: couscous and sticky chicken bbq
Get results: couscous and sticky chicken bbq

Check out this great easy to make meal of fresh and fruity homemade couscous on a bed of lettuce along with sticky chicken BBQ.

Remember weight loss starts with healthy eating, otherwise it undermines your exercise routine. It’s all about getting the balance right between calories in versus calories out.

Healthy Eating: Famous Filipino Dish Adobo

Get Results: healthy eating - Filipino dish Adobo
Get Results: healthy eating – Filipino dish Adobo

This is one of my favorite dishes…

Chicken or pork cooked in garlic, onions, soy sauce, vinegar, sugar and ground pepper.

With fried plantain(banana) lady finger, and aubergine.

Yummy!