Archive for residual income
Secret of the Wealthy
Posted by: | CommentsSo now the question is… What is Residual Income?
Residual Income is similar to Royalty Income. You know, the income earned by successful authors, musicians, songwriters, inventors… or even the dividend income earned from investing in stocks or real estate.
A musician or author creates a song or book one time, and then earns a small percentage of every copy of the song played or sold or the book sold.
An inventor invents a device and then receives a small percentage of the sale price every time one of his or her manufactured inventions is sold.
An investor purchases a stock or buys real estate, and receives dividends or rent for the financial life of that property or investment.
Like that. In each of the above examples the person invests his or her initial time or money – often both – and then sits back and collects residual income off the continuing sales, dividends or rent from the asset he or she created… at least for the life of that product or investment.
Here’s something valuable to understand… A person who earns residual income can actually walk away from the daily affairs of the business, secure in the knowledge that the income will continue… and possibly even increase!
RESIDUAL INCOME is the secret the wealthy of the world have known AND KEPT A SECRET for ages.
It wasn’t really necessary for them to do so because in the distant past, unless you were blessed with the talent to be a best-selling author, singer, songwriter or inventor or you had the excess capital to invest in some solid stocks or real estate, there were few real opportunities for you to participate in earning residual income.
But that’s all changed. NOW THERE IS!
Network Marketing/MLM enables anyone, even those of us who find ourselves of average means, to build a business that generates the kind of lasting, residual income that wealthy people enjoy.
IF the product or service you represent is consumable and of such value that a significant number of people will continue to buy and use if for years…
OR
IF the product or service you represent is durable (i.e. not consumable) but your company develops and produces a continuous stream of highly desireable new products that consumers value and continuously want to own…
THEN Network Marketing will provide you with residual income for years to come.
With the right products and a company structured and managed with integrity to sustain the business and grow long-term, the possibility exists for you as an independent Network Marketing Entrepreneur to create and continue to generate residual income — earnings you get paid long after your initial efforts to create them have been completed.
ASSET VALUE
You can see another unique aspect of residual income by looking at it in terms of asset value.
Ask yourself, what amount of money, in the bank or invested in stocks or real estate would it take to have a dependable and continuous income of, say, $5000 a month?
At today’s rates of return, that would require a capital asset value of approximately one million dollars.
If you, as a Network Marketer, were earning $7,000 a month or more — which is quite achievable for a full-time effort, even after just a couple of years — you would for all intents and purposes be living like a millionaire! And you’d be doing that without the need to literally earn a million dollars… nor would you have all the hassles and responsibilities that come with it!
One desire you may have right now is to see exactly how this income-earning process works in Network Marketing.
What is Network Marketing?
Posted by: | CommentsNetwork Marketing is what its name implies… networking and marketing. (Yes, along with sales 
)
NETWORKING
Truly one of today’s buzzwords, what is the definition of networking according to the dictionary?
an informal system whereby persons having common interests or concerns assist one another, as in the exchange of information or the development of personal and professional contacts.
And really, in Network Marketing/MLM you do both: exchange information and develop personal and professional contacts. However, in this business, the “network” system has been made formal:
- By rewarding you financially (among other ways) for exchanging information that results in product sales and;
- By enabling you to build your own organization from your personal and professional contacts and to earn from the successful efforts of your network marketing business partners.
MARKETING
This can often confuse people as it includes all of the creative work that goes into a ‘seller’ offering a product to a ‘buyer’. In MLM/Network Marketing, the company you affiliate yourself with provides much of the promotional material, as well as training on what to do;
How that material is used and presented is the individual associate’s business — literally!
Let’s keep it simple… marketing is making an offer people can’t refuse.
While traditional marketing includes advertising, merchandising and promotion… the marketing goals in network marketing are accomplished directly through PERSONAL, INDIVIDUAL WORD-OF-MOUTH marketing.
Really… there are two thing you market and make offers for:
- A product (or service)
- A business opportunity
Network Marketing is designed in such a way that you have the ability to earn income by buying products at wholesale, reselling them at retail, and pocketing the difference. This is your profit margin. This is often referred to as “right now” money because it’s a cash business.
By successfully marketing the business opportunity, i.e. finding new partners to enroll in your own Network Marketing organization, you are able to earn commission income on the sales productivity of the group of independent business people you enroll, manage and train.
SALES
Now, before you get nervous about that word you must realize… all businesses must sell somthing. Doesn’t matter what anyone is doing or where they are doing it… in order to earn money there is a successful completion of a transaction. That’s “sales”!
Network Marketing companies choose the unique method of sales to accomplish two primary selling objectives…
- To get their message to consumers whom they would not be able to reach through advertising, merchandising or other methods.
- To introduce those consumers to products or services and opportunities they otherwise wouldn’t know about.
Achieving these two objectives is the only way the company will accomplish its goal of sales.
Because so many people have a knee-jerk reaction to the idea of sales that makes them uncomfortable, please consider the following –
**What are preachers and teachers, if not salespeople?
**Have you ever been sold on having something in particular for dinner… on watching a particular TV show… on going to a party… on listening to a piece of music or reading a certain book?
**Were you to comfort a frightened child who woke up from a nightmare about a monster under the bed by assuring the child that everything was okay… would that not be sales?
**Is there anything you own and value that someone sold you?
**Have you ever been married?
Oh sure.. I can hear your argument that there is no money involved… (and I promise, we’ll have a talk about your money beliefs later) yet let’s be clear -
In Network Marketing, selling is the process of creating positive relationships based on the exchange of value — whether that value is achieved through buying your products… or joining you in your business opportunity.
And in MLM/Network Marketing, what works best is person-to-person, educational selling — giving customers and potential business partners an informed choice. We’re not talking about the hype and hustle… and more and more people today are demanding just this kind of educated choice.
In fact, the arm-twisting, hyped-up selling approach simply doesn’t work in Network Marketing because it IS a people business built on a foundation of integrity and positive personal relationships!
Actually, relationship based on manipulation is doomed to fail eventually so selling as described above destroys one of the most extraordinary and unique advantages of having a Network Marketing business — the possibility of earning RESIDUAL INCOME.
