In today’s shifting economy many people are on a search for alternative sources of income. Some are looking for ways to earn residual income, but is it really possible to earn more and work less?
What is residual income?
Residual income is derived from work that is done at the outset, and then continues to generate income after the initial investment of time and energy. For many the promise of residual or passive income has been something like the search for the Holy Grail online. There is a lot of hype and a lot of ridiculous income claims with regard to making money on the Internet, so let’s set all of the empty promises aside and take a look at what’s really required to earn residual income on the Web.
MLM’s lucrative business model
One of the most effective residual income vehicles is Multi-Level Marketing. With this potentially lucrative business model, distributors earn an income when they sell products to consumers and when they recruit other distributors to sell under them. Distributors earn a commission based on their own sales volume along with the volume of their team.
The Internet has infused this business model with infinite potential because it has made recruiting so much easier and more efficient. Now, instead of stalking friends and family members to join their new opportunity, MLM distributors can recruit new members online easily and inexpensively.
With MLM, a person must invest some time and energy up front in recruiting team members, training them and getting them to perform. Leaders must also get out there and set the example by selling their products and showing their ‘downline’ recruits what to do in order to succeed.
Work less and earn more
It won’t be long before the team has been set up and trained properly, and they are beginning to establish their own teams and train them as well. At that point you will begin to see the fruit of your labor as your residual income begins to grow. You do the work just once but you continue to reap the benefits for years to come.
With a thriving MLM business, eventually you will be able to earn more and work less and have an enviable lifestyle as long as you are willing to learn the most effective marketing, recruiting and lead generation techniques.
One of the appealing aspects of an MLM business is that you can start working this business model on the side while you still have a traditional job, and then eventually work yourself into the situation where you can leave that full time job behind and work your own business.
A side benefit of working with a MLM company is the excellent business and personal development training that distributors receive. Because your business can only grow to the extent that you grow and learn and develop new skills, the training and mentoring that you receive when you are working with an MLM company will serve you well and help propel you towards achieving your goals.
If the quality of your life is important to you, and you’d like to find a way to let go of trading hours for dollars and start embracing a freer lifestyle, then developing a Multi-level marketing business might be the perfect fit for you.