Network Marketers Live in Fool’s Paradise
A day doesn’t pass when I get approached by some joker about network marketing.
These days the approaches come more from hopefuls on social media sites such as Facebook, than from anywhere else.
Usually their program offers a consumable product such as a health drink or supplements. Invariably the marketer is in love with his/her program, in love with his product, and in love with the passive income dream.
Can these businesses produce RELIABLE passive income for participants? With very few exceptions, no, they can’t.
Because by the very definition of passive income (that is, income requiring ZERO time input for it to continue
indefinitely), they don’t qualify. This is not to say that these programs can’t produce LEVERAGED income. Leveraged income is income that is not totally dependent on your efforts alone.
So yes, they can produce leveraged income. Indeed some of the very big hitters in the industry enjoy huge leveraged
income streams (such as $200k pm and much more). But this is NOt the same as true passive income. No way.
How STABLE is this leveraged income? In most instances it is not very stable at all.
When you back a network marketing program you are betting that the company will be around in 5 years when the juicy leveraged income really starts to kick in. It’s a hell of a gamble, unless you’ve joined one of the stalwarts of the industry such as Amway.
Unfortunately most of today’s current crop of MLM companies will not last the distance. That being the case you are taking a massive risk by committing years of hard work only to have it crash around your ears.
You Want Passive Income? Here’s the Way to Get It
Anyone who thinks the safe, low risk way to get passive income is via a network marketing program is a freaking fool. And if I was a red neck and had a gun, I would shoot the next person who said it to me.
So here are the RELIABLE, PROVEN ways to get passive income:
- Rental income from solid property assets
- Dividend income from blue chip shares
- Fixed interest income from deposits with strong banks
- Being a financier/investor in a solid business that SOMEONE ELSE is building
- Receiving royalty income from something you created which requires zero time input from you to maintain it
- Selling a membership or continuity program with ALL of the ‘maintenance functions’ of the business being outsourced to arms length third parties.
Mmm. Never looked at it like that before, eh? Yea, right.
And it’s not just the traditional mlm people who reckon they can get some of the passive stuff happening in quick time. The online crowd also has unrealistic expectations. Few realise or appreciate how hard it really is to get a flow of passive income happening.
Unless of course you have plenty of capital to invest.
If that’s you just take the easy, ‘no work road’ and put your dough into options one, two, or three (above). On the other hand, if you don’t have much capital then you’ll have to do it tough like me. And that DOES not include mlm.
Whichever way you look at it, you’re going to need plenty of capital to get true passive income happening. This is how I do it:
I sell big ticket products that pay good commissions. Sure the commissions aren’t passive, but you know, I can take some of the money I make and use it to get my financial house in order. Then, I can direct it to ‘sit back and relax income’ from true passive income sources.
Does the foregoing ‘click’ for you? Yea? Then go here and register for my webinar.