Let us all assume that network marketing is a SCAM! And it’s ok if you believe it is not, but let us take this ride together. So it is a big SCAM!
Have you ever heard of passive or residual income before? – That sounds like those network stuff terminologies right? well, I like the way someone defines those two inter-related terms.
Residual or Passive income is income you make when you are sleeping i.e. when you are not actively working or actively involved in the revenue generation process.
I don’t know about you, but I want to be financially free. I want to attain financial freedom not just financial security. You are probably thinking so what’s the difference.
Financial security simply put is:
‘Knowing that you have enough to take care of your needs with your active income and passive income added together’.
Financial freedom however is being assured that:
“The money you earn while you are sleeping is enough to take care of your needs when you are awake” (now I love that!)
Some of you may be puzzled and be asking does anyone earn while they are sleeping? Doesn’t everyone go to work or do a business or buy and sell before earning?
If you are asking such questions, then you must read this to the very end.
Also, if you are not financially free yet, then you must read this to the very end too
While financial freedom is desirable, the statistics are on the dim side. This is a survey take in the US of people aged 65. Statistics show that 96% of people by the age of 65 will be dead or dead broke. Let us take a sample population of 100 65 year olds, the statistics mean that:
54 will need some sort of support financially (social security, government or family)
24 will be dead
16 will still need to work
5 will be financially independent
1 will be financially free i.e. truly wealthy.
This simply means attaining financial freedom is not just mouth talk. I don’t think any active young person plans to be dependent on family or children or government when they turn 65, but majority turn out like that.
The question is what are you doing to be different when you turn 65?
Remember the definition of “Financial freedom that I used above which says
““The money you earn while you are sleeping is enough to take care of your needs when you are awake” and the money you earn while you are sleeping is called ‘passive/residual income’.
There are 5 business areas that you can earn passive/residual income. If you truly want to be financially free, then you should be playing or be planning to play in all these 5 areas. Let’s take a look at them.
1.) Real Estate – Simply put, have money coming in for you in terms of rental income. Which means while you are sleeping someone is paying you rent.
2.) Paper investments – Talking about shares, bonds and the likes. In this current economic climate, I’m sure you have your own perspective on it. But also, how much shares would you have to get dividends while sleeping that will take care of you while awake?. In spite of that, it is still passive income
3.) Intellectual Property – Write a book, write a song, patent a technology, create a program, write a software application etc, and get royalties on it. A very popular example is Michael Jackson’s Thriller.
4.) Own a business – we are simply saying have a business that generates income for you though you are not the one managing the day to day affairs. Say you get director’s bonus from the business.
5.) Networking Marketing – With this, you are leveraging on other people’s time, energy and money. You build a team and every time someone in the team works, you get paid too. Someone put it this way, rather than getting paid for your 100% effort, it is better to get 1% from 100 people’s effort.
This is the other time I’m mentioning network marketing since I started this post, and remember we are assuming it is a scam business.
However, if you have been a student of financial education, you would have come across names like Donald Trump, Warren Buffet, Robert Kiyosaki, Richard Branson and many others. In context, one thing these rich people have in common is their support and active involvement in network marketing industry.
Some have called it the business of the 21st Century, some have called it their best investments ever and some own network marketing industries. In the recent economic downturn, the Network Marketing industry have been booming, bringing in more revenues and creating more millionaires yearly.
I am not by any means suggesting that network marketing is the only way to financial freedom, it is one of the 5 ways highlighted above, and however it is:
- low investment
- low risk
- easy to enter into
- has huge amount of leverage
- Training provided by most companies
- Gives you opportunity to own a business without costly overheads
- You determine your income
- Provides priceless financial education and leadership skills.
- Anybody can get started, you don’t need a university certificate, or any certificate for that matter
Are there scams disguising as credible network marketing companies? Oh yes. Therefore you need to equip yourself with information so that you don’t fall prey. But don’t for once think Network Marketing Industry is a scam; it’s like shooting yourself in the foot.
Have you ever referred a friend to a tailor, salon, shop, company, product etc because you used it and liked it? I think yes! we all do
Did you have to sell it to your friend? I think no. We don’t sell it, we just tell them and that we liked it.
Did you get paid or appreciated for telling a friend? I will think no.
Network marketing companies generally say because you told a friend, who eventually patronised us, we’ll reward you back in monetary terms. And when that person does it too, we’ll continue to reward you up to a certain extent.
I can sense you want to ask me, Ibukun, are you involved in network marketing too?
My answer to that is “I’ll be a disobedient student and a rebel if I am not”. The people I look up to as mentors in financial education have showed me a way to start learning how to play in all the 5 areas; I’ll be pretty dumb to not be involved in Network marketing. So yes I am.
If you want to know about the one I am involved in go to http://www.myavenuestowealth.com/ put in your details, click submit. On the opened page, scroll down and click on continue tour till the end of the slides. If you are interested, then drop me an e-mail.
May I ask you a few questions?
Are you currently playing in those 5 business areas?
If not when do you intend to start?
Join a network marketing industry and start from there. As you grow and learn financial education, you’ll be able to play in the other four areas.
I can sense some of you have many excuses such as no time, no money, I can’t sell, I don’t like sales, It’s still a scam, I’ve done many before that did not work, I was duped, I am shy etc. this post is not designed to answer those questions, however, e-mail me your questions/objections/queries and I’ll do my best to answer you.
This is the business of the 21st Century. Your Network = Net worth.