Continued from page 1
Now, lets consider RESIDUAL INCOME:
When someone mentions residual income many people automatically think of actors or musicians.
Residual income is recurring income that you continue to receive long after work you've done to produce it has ended. There are lots of ways to produce residual income. However, many people don't understand it, and still others have never thought about or been exposed to it.
A very simple example of residual income is interest earned on money in bank or investments. You continue to receive this income without having to invest any more time to produce it.
Suppose you had choice of doing a job and earning $1,000 once, or getting paid $50/month for rest of your life…which would you choose? If you chose $50/month you obviously “get” concept of residual income.
Clearly, $50/month will surpass a single payment of $1,000 relatively quickly. And if it lasts for a few years, or better yet - rest of your life - it will really be a blessing.
Residual income is certainly not about "getting rich quickly", even though with right opportunity it's possible to produce a substantial residual income stream in a relatively short time.
Most people who fail at network marketing either choose wrong network organization or just give up too soon and quit because they expect overnight results. It is important to recognize that real beauty of residual income is on back end, not front, and that once you build it you have financial security and time flexibility to do just about anything you desire for rest of your life!
Last, but not least, lets address GEOMETRIC GROWTH (DUPLICATION):
The classic illustration of geometric growth is frequently used penny-a-day example.
If you save one penny on first day, and double it every successive day, (day two you have 2 pennies and day three you have 4 pennies, and so on) how much will you have at end of 30 days?
The answer, to astonishment of many, is $5,368,708! Amazing, but true.
That's a simple and dramatic illustration of how networking can work. If I can teach you, I've doubled myself. If we each teach someone else, we've doubled again. As this duplication or geometric growth process goes on and on, it can produce some amazing results in a relatively short period of time, just like penny example above.
So there you have it, understand and apply these three principles
1) Leverage (of Time and Money) 2) Residual Income 3) Geometric Growth Through Duplication
and, given sufficient time and effort, you should enjoy a successful and financially rewarding network marketing experience.
Kirk Bannerman operates a successful home based business and resides in California. For more details, visit his website at http://business-at-home.us