Understand the importance of residual income
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 have a job or business, you need to pay attention to network marketing to build residual or passive income over time.
The most common way people define residual income is “income earned while you sleep.” Is it really possible to earn income while you are asleep all the time? This may sound strange to some people, but yes, it is possible.
The importance of residual income in a man’s life is expressed in billionaire investor Warren Buffet’s statement that “if you can’t find a way to make money in your 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 dire consequences.
By going to work every weekday and getting paid at the end of the month, you are simply exchanging 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. 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, he expends extra energy working on his pipeline. When he finishes, he has the source of the water directly to his house, while the other person continues to visit the river.
Residual income is like building a pipe to connect the water from the source to your house so you don’t always have to go to the river.
In that short example, you’ll notice that it took some time to build the pipeline. 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 to visit the river for its water supply. What will happen if it gets bad? He and his family will run out of water and suffer the consequences.
There are many business initiatives that you can take advantage of in your effort to generate residual income. But I do recommend network marketing, or MLM as some would like to call it, due to the fact that it doesn’t require a ton of investment capital to get set up.
Much has been said about network marketing by various network marketers, but many still feign ignorance about it.
The reasons people will NOT take a look at network marketing are NOT:
• because they don’t have the money.
• because the opportunity or business is not good.
• because they are worried about being scammed.
• because the profit margins are not high enough.
• because the demand for the product is not broad enough.
• because they need to ask their spouses first.
• because they need one night to sleep in it.
• because they need more time to research the company.
• because they need to contact you by phone to join.
• because they have to ask other people on Facebook to see if you’re 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 the network marketing business opportunity is that they have been conditioned by society 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 have 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 to learn and step out of their comfort zone and become paralyzed by their fears.
It’s about being comfortable and worrying about what others might think. It’s about their family thinking they’re FAILURES if they do anything besides have a JOB.
If you are currently working, understand that you are only exchanging your time and effort for the paycheck you receive at the end of the month. That’s fine though, but by going to work every day, you’re not generating residual income, which is the pipe that will allow you to get your water supply without going to the river.
In view of what has been outlined above, what should you be thinking about doing now? Get on with your job, but along with your job, approach a network marketing professional to set up a network marketing business that you should be doing part time. The little part-time effort you put into the business will soon produce a significant result.