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Network Marketing Business – How To Create Passive Residual Income

Network Marketing Business – How To Create Passive Residual Income

Ready, Set, Go! 2008 is here and this is your year! You already know the “biz” of network marketing consist of who, what, when, where, why and how to create passive residual income into the future. However, the information, support and training you receive is truly what helps you succeed.

So, is it really that easy to create residual income? The answer is yes and no. Yes, if you know what to look for before you get involved with a network marketing company. No, if you get involved with an organization without doing your due diligence. Often falling for the hype about a opportunity can lead to failure, frustration and most importantly no additional income in your bank account. Keep this in mind; “the business model drives the behavior in the field”. This may not mean anything to you right now but, as you continue to read this article it will make perfect sense to you what network marketing is really all about.

Okay let’s get started! Here are 5 simple tips to create passive residual income…

1. Google It! – Do a Google search on your company. Find out who the owners are and what they have done in the past. Also, research if they have experience in building an MLM business and were they successful doing it.

Tip: Read the policies and procedures of the company. Make sure it is written in your (distributor’s) best interest and not solely to protect the company interest.

2. Rush Now??? – Wrong! Believe it or not, not every opportunity is the next Microsoft. Don’t let the flash and the hype of a salesman or website make you “act now” otherwise the opportunity will pass you by. Do your homework!

Tip: If the opportunity is supposedly great today then it will be awesome tomorrow.

3. You Get What You Pay For! – Every network marketing company has a great product, get over it! You don’t need to fall in love with your companies product. If you have to justify to someone why they need to pay premium price for a product, then you are officially a salesman. Don’t become a salesman! You are a professional network marketer! You want products that people would consume even if there wasn’t a business opportunity attached.

Tip: Fall in love with products people are standing in line screaming they want and then go market those products!

4. Pay Day! – Research and understand your companies compensation plan. There are various plans out there; Binary, Matrix, Aussie 2 Ups, Unilevel, Stair Step Breakaway, just to name a few. Try to create a point of reference; say you want to make $10,000 a month in passive residual income. You need to figure out how many people you would need to make this happen. Also, really understand what it will take to realistically achieve your goal. Needing 10,000 people to make $10,000 is NOT very realistic now is it?

Tip: Remember YOU would never start a job without knowing how much you are going to get paid.

5. Duplicable Duplication – You need a REAL duplicable system! Ask yourself these questions; is signing someone up at the all-star super duper supreme level duplication? Is bugging friends and family to join your opportunity duplication? Is taking your new recruits to a out of the way meeting duplication?

Remember, you don’t need to become someone else to be successful in network marketing. You don’t need to learn selling or recruiting techniques to be successful. And if anyone tells you different, this is not a “system” you want to get involved with…trust me. Network marketing is a relationship business. People join people, they don’t join companies!

Tip: A good system is a system that is duplicatable for EVERYONE without having to sell.

Here’s the bottom line, make sure you apply these 5 simple tips when choosing your company. By using these tips, you are now ready to create passive residual income. However, in the end you are the one that will define you own network marketing success.