Where would you be right now if you had positioned yourself to be an investor in Mobile phone industry and corporations like IBM, Microsoft, Apple, Starbucks and Walmart? Where would you be if you were able to position yourself ahead of new technological trends?
The Majority of us have been taught to go to college, get a job and live the American dream. Well, with the state of today's economy, we know that it's not that simple any more. There's no such thing as job security and the vast majority of people cannot afford to loose a job or else they will find themselves in very scarce situations.
See, we have been taught linear income which is trading our time for dollars. This of course is a very respectable way to earn income. The only problem is that when you stop working, your income stream also stops. With residual income, from work you've done one time, you can get paid continuously, even when you stop to take a break, you make money while you sleep. The best example of this is royalties that entertainers receive long after their song has been recorded or when their TV show has been syndicated.
Many leading business millionaires either endorse or have used multi-level marketing to acheive riches and residual income. I'm not going to name drop here, but do your research and you will bear me witness. Multi-Level Marketing (MLM) is the wave of the future for entrepreneurs and anyone who has the desire, professionalism and self leadership qualities to get out of their comfort zones and build within a new network. With MLM's you are your own boss and have the ability to build your own team. When your team generates income you also generate residuals.
Many who don't understand quickly and ignorantly say that this is "a pyramid scheme". My reply to that is that every business is set up with the founders who are naturally and logically on the top and the new recruits, who in a good company, have the ability to receive bonuses and promotions. Also, MLM's have products and services that they legally sell on the market while with an illegal pyramid, people are exchanging money without any inventory or products or services.
In the age of the internet, I think it would be wise for most people to start a home based business to generate an additional income stream. There is usually a start up cost ranging anywhere from $35.00 to $500.00 and sometimes more. The more expensive ones usually have a great support system and excellent training and have been around for a while. They even give bonuse's and provide incentives for you to receive you intitial investment back plus the ability to make a profit (Now that's a return on your investment). You should look at MLM companies as investing in a franchise.
The Benefits of Starting a Home Based Business VS a Brick and Mortar Business!
If you want to open a store, which is commendable, you would have far more start up cost and legal fees than you would with a home based business. Usually the sole proprietor or partners have to be everything in the beginning such as the cashier, stock people, inventory clerks, customer service reps, accountants etc... You would probably have to take out business loans which puts you in the red right away. If you can do all of this and do it well, that's a great thing. I would love to have that kind of success. I simply suggest that you also research some home based businesses or multi level marketing companies. Again, it's more like a franchise like McDonalds or Staples, meaning they handle the business infrastructure and distribution while you focus on building your business and customer base.
I'm very suprised when I attend business seminars and work shops and the majority of people are still looking for the old way of doing things except for seeking information on how to leverage people and technology to receive residual income. If you are coachable and can follow a proven and winning system, you have the opportunity to do extremely well with multi level marketing which is the business model of the 21st century!
Terrence Kamal Oats is a successful entrepreneur and telecommunications consultant based in Bergen County New Jersey.
You can contact him via http://www.kamalinspires.com