The problem with "linear income"
What initially caught my attention about the profession of network marketing is how it compares to working a job. At most places of employment we are paid per transaction (e.g. Clock in, money starts....Clock out, money stops). This is known as linear income. And while this can provide a comfortable lifestyle, because of the way money is earned, it cannot provide financial freedom. You might bring up high paid professionals, such as doctors and corporate attorneys in top tier law firms earning in the high six-figures every year. This is not to say that we don't need these professionals--in fact there is nothing wrong with working a job if that's what one wants to do. The real problem is that 52% of Americans do not like their jobs and even more believe that they are overworked and underpaid. But even as a high paid professional, what happens if you suddenly stop working? Say you're a brain surgeon who develops arthritis...or you're an attorney who is on maternity leave? Or God-forbid, what if you are injured or pass on? What would happen to your family? While it isn't pleasant to talk about, it is important to realize that linear income is not the way to earn financial freedom nor can it be willed to a loved one if something happened to you. And in order to continue to make money, you must continue to run on the proverbial "rat wheel", hence the title of my website, GetOffTheRATWheel.com.
One time effort, lasting results
Residual income (also called passive, or recurring income) is income that continues to be generated well after the initial effort has been expended. In my Network Marketing company, I assisted a property management company in cutting their utility expenses by over 30% back in 2012 and that effort continues to pay me into 2015. If you've ever read "Rich Dad, Poor Dad" by Business Mogul, Robert Kiyosaki, he refers to a business like this as an income-generating asset. What if there was a way you can do something ONE TIME and reap benefits over and over again as a result? This is no different than earning book royalties or receiving payouts based on radio spins, like Beyonce, U2 or Taylor Swift. And who remembers "The Fresh Prince of Bel-Air" which has been off the air for nearly two decades? Think about the amount of re-runs that have aired and the fact that Will Smith receives royalty checks based on what he did 20 years ago. And what if you could do it too?
Lastly, I always feel the need to point out that what we do is hard-freaking work. As I mentioned in a previous blog, shifting ones mindset is probably one of the hardest things to do. And it is the reason why many fail. The ones who succeed are those who have a strong purpose, a powerful motivation, and those who are coachable and take action. The truth is this is the only business on earth I know of, that one can begin with a very low investment (<$500), have unyielding support, a proven system similar to a franchise (without all the overhead), and can begin part-time.
Check out my conversation below with a multimillionaire top earner in my company, not long after I began to rise the ranks. After humbling me by her praise, she also gives her take on what we do.
Lastly, I always feel the need to point out that what we do is hard-freaking work. As I mentioned in a previous blog, shifting ones mindset is probably one of the hardest things to do. And it is the reason why many fail. The ones who succeed are those who have a strong purpose, a powerful motivation, and those who are coachable and take action. The truth is this is the only business on earth I know of, that one can begin with a very low investment (<$500), have unyielding support, a proven system similar to a franchise (without all the overhead), and can begin part-time.
Check out my conversation below with a multimillionaire top earner in my company, not long after I began to rise the ranks. After humbling me by her praise, she also gives her take on what we do.
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