Build Systems for Residual Income

Build Systems To Succeed

What is a system? It is mainly a procedure of approaches applied to achieve a goal. That is how businesses run. They have a system in place so that the business can run on an effective basis.<br>For example, McDonalds has a system of how they make their burgers. If a customer wants a cheese burger, this is how the system works.<br><br>1.The employee on the grill will put the meat patties on the grill and cook them.<br>2. While that is taking place, the employees on the line put the burger buns in the toaster oven<br>3. They place the pickles, onions, ketchup, mustard, cheese etc.<br>4. Then the meat patty is placed on the bun, wrapped than brought to the customer.<br> <br>That is a simple system of how McDonalds makes their burgers. This simple system removes a lot of wasted time which helps them stay true to their type as a fast-food restaurant.<br>Now systems can be implemented anywhere, whether it's in the distribution centre, store or head office. There needs to be a system in place for your business to be successful.<br>Next if you want to generate income on a residual basis you need a system. Robert Kiyosaki is famous for creating a concept called the Cashflow Quadrant. He says there are 4 ways of doing business.<br> <br>E- Employee<br>S- Self Employed<br>B- Business Owner<br>I- Investor<br> <br>An employee works for a company and works from paycheque to paycheque. The self-employed have their own business, but basically they own a job, so they are working for the paycheque. The business owner has a number of employees working for him/her. What makes a business owner differ from the self-employed is that the business owner has a system in place that produces passive income without him/her having to be there. Lastly an investor is an individual who invests money into projects that brings a return on their investment, making money work for them and not the other way around (Real Estate, Stocks, Index Funds, etc.)<br> <br>I want to focus on the business owner. That is where you want to be. You want to own a business that doesn't require you to be present in order for the business to run. That is what you call absentee ownership. If you want the option of working minimal hours a day, you want to become a business owner. Being a business owner doesn't require you to be an owner of a Fortune 500 type company, but it does require for you to have a system in place.

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