Lets look at 4 ways to create an income. There will be at least one method that some of you may not be familiar with. Which leads to a question posed by Tom Big Al Schreiter in his book “Are YOU Walking Past a Fortune?”. He wrote about this income generator, the thing is many just do not understand that this income generator requires some training or an education if you will. Before we move on to look at generating income, let us look at some traditional methods of generating an income.
Most of us will go to school and a few of those graduates will further their education by going on to university or college. For their reward, whether we attend college or not, as an employee we are rewarded with approximately 45 years of hard labour. This is the employee mindset…some people are very content to be the employee, while others find no contentment at all and look for other ways to create income.
This is an age old concept. You work for another business owner to get paid for your contribution to the company. In many instances in this business model you do not get paid what you are worth, but what the employer feels you are worth. You will have no chance to benefit from the profits…(unless of course the employer offers an employee incentive program. (A method to entice you to do more; bribery) You never really have job security because someone else controls this. You can be laid off at any time at the employers whim.
For those who feel that being an employee is just not for them they follow bigger dreams and look for a way to become the boss, the employer. You will create a bigger pay check as the boss (normally), but you are still sentenced to a lifetime of hard labour. You will probably put in more hours than if you were an employee, but it is YOURS! After you divvy up the profits you get to take home what is left.
But what happens to your business once you decide to retire? Well it may be passed on to the next generation or it just might cease to operate. Poor management may be it’s demise as well causing all or your hard work to go up in smoke.
Now there are still others who feel that becoming a franchise owner would be a little less riskier than starting a business from the ground up and tackle a huge debt in investing in a particular brand name. They follow a blue print set forth by the franchise and for this dream the franchise owner must pay an established percentage of the profits to the franchise owner. Those who have ventured into owning a franchise find that there is very little return on such a large investment.
We have looked at three ways to generate income. From traditional to risky and not so risky. Network marketing or multi level marketing has been around for many years. Amway, Avon, Mary Kay, Shaklee, Watkins and other companies have been around for many years and are a household name. But many customers are not be aware that these direct sales business men and women knocking on their doors were actually involved in network marketing. Surprise!!
Although it has been around for years it has gained popularity with many people. Many are attempting some way to generate an extra income from home.
So what is network marketing?
It is an income generating method or business model which allows you to be your own boss as in example 2, but with very little investment as described in example 3. (Word of caution…if you are investing more than $1500.00 to initially get started in an MLM company, RUN! Just my opinion. It probably is not a legitimate business opportunity. You sure do not want to be joining a venture where you may be required to re-mortgage the house.)
The business (your business) grows as you tell others about the products you have and by others joining you as business partners. Do not expect that it will grow over night, this is a real business and just like any business venture you would start it will take time and patience to see any results for your labour. Most who are employees do not go from making $2000.00 a month to $10,000.00 a month in the space of a week.
Your income is distributed by your company to all the distributors which is determined in the companies compensation plan. Note: not all compensation plans are equal. Be sure you understand the very detailed commission plan, as it usually is not as easy as explained in promotional hyped up videos. (It is funny that some people we talk to think that they will only need to find 3 or 4 people and then they will be earning thousands of dollars…NOT TRUE! You have to do the math and you have to know the formula to be able to determine how many you really have to have in your business to generate the income that your sponsor tells you you can earn) The formula is in the 10 K question.
You and your business partners are paid for your sales down a determined amount of levels and a set width again determined by the commission pay plan. In a 5 Pillar company you are permitted to build infinite levels deep and infinite levels wide, removing any financial cap which may be in other companies. You earn from your own efforts and the efforts of others. As your team grows, your business grows and your income grows right along with it. In many cases you will be able to conduct business worldwide via the use of the internet.
There have been many very successful business owners of this business model such as Jim Rohn, Tom Big Al Schreiter, David Bertrand, Randy Gage and the list goes on. Even actors and other celebrities have gotten involved with network marketing or at least endorsed a product or two.
Are YOU Walking Past a Fortune?
As mentioned caution is required in any venture. If you are new to this business model and you lack education and training in this you very likely could fall victim to the dark side of MLM, even the veterans of network marketing struggle and fail and are taken advantage of by the… vultures, the gurus and the con artists. You could find yourself ripped off and broke. There are some very unscrupulous individuals who prey on the unsuspecting and uneducated in this industry.
As a good friend of mine, Mike Sherratt says, “As in all business there are enough fly by night operators operating through your best friend or relative who are themselves an unknowing victim and may suck you in to the whirlpool of losses and failures.”
If you’d like to learn how you can avoid the cutthroats or would like to remove the mind boggle and meadow muffins from MLM, contact us and we would be happy to share what we know.
Commit To Success Today
Dave and Darlene Mills
Leadership With A Vision
Vision without action is merely a dream. Action without vision just passes the time. Vision with action can change the world. by Joel A. Barker