This article aims to explain the importance of generating residual income and also explain the need for people to take advantage of the network marketing business model if their dreams are to gain financial and time freedom. So even if you currently work at a job or business, you need to pay attention to network marketing to develop residual or passive income over time.
The most common way that people define residual income is “income earned while they sleep.” Is it really possible to earn income while you sleep all the time? This may seem strange to some people, but yes, it is possible.
The importance of residual income in a man’s life finds expressions in the statement of the billionaire investor, Warren Buffet, in which he stated that “if you can’t find a way to earn money while you sleep, you will work until you die.” .
Residual income is a concept that many ignore without understanding that their future well-being depends on it. And with what result? With harmful consequences.
By going to work every weekday and receiving a salary at the end of the month, you are simply trading time for money. Your salary is not residual. If your work stops, your income stops automatically.
Let me explain residual income with the following example.
Imagine two men in a town. They both have to walk a mile every day to a river to get water for their families. After a month, a man begins work on the construction of an underground pipeline to connect the river to his house. For a whole year, you spend extra energy working on your pipeline. When he’s done, he brings the water source directly home, while the other person continues to visit the river.
Residual income is like building a pipe to connect water from the source to your home so you don’t always have to go to the river.
In that short example, you will notice that it took some time to build the pipe. But having done that, the man continued to enjoy the water supply effortlessly.
However, the second man who did not take the same initiative had to continue visiting the river to obtain water. What will happen if you get sick? He and his family will run out of water and suffer its consequences.
There are many business initiatives that you can take advantage of in your effort to generate residual income. But I recommend network marketing, or MLM, as some might like to call it, due to the fact that it doesn’t require a ton of investment capital to get established.
Much has been said about network marketing by various network marketing professionals, but many still feign ignorance about it.
The reasons people do NOT take a look at network marketing is NOT:
• Because they have not got money.
• because the opportunity or the business is not good.
• because they are worried about being scammed.
• because profit margins are not high enough.
• because the demand for the product is not wide enough.
• because they need to ask their spouses first.
• because they need a night to sleep.
• because they need more time to research the company.
• because they need to talk to you on the phone to join.
• because they have to ask other people on Facebook to see if you are a good sponsor.
• because they need to see your bank account to prove the results.
• because they don’t believe in it.
The real reason they don’t join network marketing business opportunities is that society has conditioned them to be consumers of goods and not producers.
They have been conditioned to buy “education” but not to buy knowledge.
. They have been conditioned to have a “job” but not to own a “business”.
. They have been conditioned to be workers but not to be their own bosses.
They are non-thinkers rather than entrepreneurs
. They are intimidated by anything that challenges them.
That’s what it’s really about. These are people who are so afraid of learning, of stepping out of their comfort zones, and of being paralyzed by their fears.
It’s about feeling comfortable and worrying about what other people might think. It is about your family thinking that they are FAULTS if they do something besides having a JOB.
If you are currently working, understand that you are only trading your time and effort for the paycheck you receive at the end of the month. However, it is fine, but by going to work every day, you are not generating residual income, which is the pipeline that will allow you to get water supply without having to go to the river.
In light of what has been described above, what should you think about doing now? Get on with your job, but along with your job, approach a network marketing professional to establish a network marketing business that you should be doing part-time. The little part-time effort you put into business, in a short time, will produce a significant result.