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Jan 22
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The power of multiple streams of income
I got thinking the other day about, what I have always believed to be true, that its silly for anyone todedicate themselves to one stream of income. Espically if that income stream is a linear one. By linearI mean when you swap money for time, eg a job you go to work you get paid, you don't go to work and you dont get paid. (ignoring sick and holiday pay)
I recently walked around one big employers office, and asked every member of staff the same question "doyou like your job" Do you know not one person answered "YES" at the same time not one person said "NO "so its not all bad.
The general feeling seemed to be that they were comfortable in the job, it wasnt a bad job, there are alot worse jobs out there. And that they had all been with the company for so long that the additionalbenefits they recieve had kind of locked them into the job.
I spoke to one guy who had been in the job for over 40 years, and he had only just got to earning£30,000 per year, wow this scared me. This guy had dedicated his working life to this company, and his earnings where still just over £30,000. In todays world of stupid house prices, how can he afford to live.
It got me thinking to my days back at uni, before I moved into the world of work. What an amazinglifestyle I had at the time. I could chose when to get out of bed, when to leave the house, when to goto the pub etc. This I think is how life should be, we should have the ability to chose what we do andwhen.
Okay so how can we go about this ???
Well since a young age I have always belived in multiple streams of residual income. Residual incomebeing something that we do once, and get paid for over and over again. A bit like what pop stars get or book authors.
A while back my search began to find out just how normal people can earn a residual income, there mustbe a better way to get paid. After a short search, I came across MLM (Multi level Marketing), now the mistake people make here is "going arghhh pryamid" and running away. this is the first mistake joe public make.
MLM / Network Marketing / Multi level marketing has come of age, gone are the schemese of the 50's and 60's were bonzi schemes or pryamid scams are they are more commonly known. The MLM industry is now a global MASSIVE and regulated industry, moving products and service's to the end consumer with no middle man.
Its also in my opinion the cheapest and most simple way for ANYONE to get into business. I say this as the limit you pay to join a MLM by law (UK anyway) is £200. And then you get the support of the company you join, plus your sponsor and their sponsor and so on.
At this point I think its only correct to point out that I think a lot of people in MLM, sell theopportunity wrong, or that the new entrants see the wrong things at the start. I think its hard to get past the people who earn £20,000 every four weeks, and that then we focus and believe that with little to no actual work we will all achieve the same thing.
This is incorrect, when we read the MLM books, the re-occuring message is that when we join we have the ability to earn a few extra hundred pounds a month. Once we get to the stage of a few extra hundred then and only then is it viable that overtime we will be able to move in the thousands of pounds per month catgory. And to get there we need to work with our downline, and show them how to earn the coupleof extra hundred pounds a month, and so on. Not a get rich quick scheme by any means, however withdesire determination, and the ability to not quit when the going gets tough, there is no reason why anyone cant do the above.
Okay so as you may have guessed from the above I kind of like the idea of MLM as a way of creating me a residual income stream. When I joined the industry I joined to make money. Little did I know it so many other benefits as well.
Any good MLM will teach you to read, and study personal development. Only recently have I started to do this, and now I am hooked, I read everything, I listen to CDs and MP3s, heck I even have DVDs from the USA. Its amazing what knowledge you can gain in just a few weeks of reading. And it doesn't even need to be what I call rar rar american hype. I read a lot about the difference's between the poor the middle class and the wealthy, and how we can be in any one of those categories. I read on investing money, I read on business and franchising. I read about personal development, and NLP. I learn all about how wesay is the most important thing. Not what we say but how we say it. And also how important it is to get people talking and really listen to their answers.
Then add on the amazing people you can meet and the friends you can gain, this then tags on more advantages. You meet people from all walks of life, that have skills you don't, by working together you will never need another mechanic or plumber again. Get these people in your team, and help them grow,and they will help you back.So there we go, a few different reasons to become involved in MLM. However this article is meant to be
more than that. Its the start of my journey and this blog, on creating residual income streams. As I mentioned at the start I think its crazy to rely on one income stream, and so for this reason, I want to add more and more different streams of smaller income at the start. I had an idea a while back, which is being developed as we speak, and is nearly finished, I cant wait for it to be launched.
I leave you for now with this thought, simple things done everyday can make a massive differnce to your
life. Every morning when I turn my phone on, the welcome note says "how can I make a million this year" so then all day I am thinking about how to make my million.
The mind is an amazing thing, a bit like your pc but a lot better it can do anything, however you haveto programme it to do what you want it to. Then let it go away and work.
Have a great day all.