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Developing Leveraged, Residual Income

Posted on: Wednesday, February 06, 2008 -  
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READY TO PUT SOME GOLDEN EGGS IN YOUR MONEY BASKET?

 

     Job security - aren’t those the terms are almost mutually exclusive? Gone are the days when a man or woman would have a job for ten, twenty or thirty years. Loyalty between companies and employees has gone the way of the gold watch. Instead we have global competition, decreasing job benefits and a new boss every two or three years. And let’s not talk about the future of Social Security and Medicare! 

 

      So what can we do to make the future a little more secure for ourselves and our families – at least financially? We have to have golden eggs in our money basket – which means we should diversify and develop leveraged, residual income. We need money that keeps on coming in even after we decide to stop working. 

 

      What is leveraged, residual income? For example, an author may spend years writing a book at nights and on weekends. During that time he or she may not be making money but when the book is published he or she will receive royalty checks as long as the book keeps selling. Another example would be the royalties musicians receive. The musicians can even repackage their music in a “Best of…” format and generate new income.  

 

      But you and I are average men and women, not authors or musicians. What choices do we have for developing leveraged, residual income? One of the top choices is Network or Multilevel Marketing (MLM). Here are some of the most frequently asked questions about Network Marketing.

 

How does Network Marketing work? It is all about leverage. Under this concept you build a network of independent distributors (your organization). In addition to the money you earn selling products yourself, you also earn a small percentage on the products everyone in your personal organization sells.  Those who are most successful learn to train and develop leaders. 

 

What are the benefits of Network Marketing? There are no big capital investments, no geographic restrictions, little or no risk, no employees, no special education or skills needed. In fact, if you are coachable, you will have access to training by the top leaders at no cost to you. 

 

Does Network Marketing work?  Absolutely!  It is a serious business for serious people. A company with excellent leaders has developed a proven system of success and those people that follow that system are successful.

 

What questions should I ask before joining a Network Marketing company?

·     Is there a genuine need for the product or service? 

·     Does the product satisfy the needs of a huge, expanding market?  

·     Are the products or services unique? Can they compete?

·     Is there outstanding marketing direction and support from the company?

·     Has the company been around for at least five years, are they financially rock solid and are they committed to the success of their distributors?

·     Is the person introducing you to the opportunity committed to your success?

·     How long does it take to make money?

·     Does it sound like fun to you? 

 

How can I tell a legitimate network or multi-level marketing company from an illegal pyramid scheme? If participants are paid primarily from recruiting new people and cash is required with no exchange of products or services, it may be a pyramid scheme, which is illegal in most countries. 

 

What does it take to succeed in Network Marketing?

·     You have to really believe in your product or service!

·     You have to like communicating and meeting all kinds of people.

·     You have to be self-motivated and have a desire for independence.

·     You have to deal with rejection in an impersonal way.

·     You have to be coachable and willing to learn new skills.

·     You have to persevere while you grow your business.

   

If you want to make the future financially secure for you and your family, explore the possibilities of leveraged, residual income through Network Marketing – and keep on making money even after you stop working!

 

Truda Pauly left a successful career as a Vice-President in a major corporation to coach and personally mentor leaders to achieve their excellence … personally, professionally, financially, spiritually … in network marketing.  For more information, please call (888) 864-7688

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