What is Residual Income?
Well, it is an income which you keep on getting month after month, year after year even without your direct involvement in the process of earning. Means, you sell a product once and keep on getting commissions every month on that very sale without any extra effort each month.
I am a big fan of residual income opportunities when it comes to building my own online home business, since I believe this IS the way to financial freedom in the long run.
Network Marketing / Multi Level Marketing (MLM) Opportunities
#1 Network Marketing Course – Magnetic Sponsoring
In my opinion Network Marketing or MLM is the most lucrative form of residual income opportunity ever existed.
Think about a situation of having 100 members in a team who have the same goal in life and work together as a team to achieve that goal – this is the main motivation of starting a Multi Level Network Marketing Business.
Here are my Top Picks MLM opportunities
MyWorldPlus – This is the most unique MLM opportunity ever created, where everybody who joins after you would be placed in your network, irrepective of you sponsoring even a single person. With a product of everyday need, this opportunity is worth selling to any target market. It is by far the fastest networking program to make money online. And together with my exclusive My World Plus Bonanza Offer you would just repent to let this opportunity go.
Click here to read the detailed MyWorldPlus review.
Click here to check out the MyWorldPlus Bonanza Offer.
GDI – It is the most respectable residual income opportunity offered by one of the fastest growing companies, Global Domains International in the home business industry. A very low-cost program, GDI pays you till 5 levels deep.
Click here to check out GDI which is FREE for 7 days.
Plug-in-Profit Site – This is the most coveted marketing system ever available to promote a Network Marketing Opportunity together with Affiliate Marketing Products. If you research you would find hundreds of successful Internet Marketers have once used PIPS sometime in their career. It is a great marketing system, with superb training and a dynamic forum with like minded people helping each other to make money online.
And the most striking feature of the Plug In Profit Site is that the whole marketing system is absolutely FREE and comes with 12 mindblowing bonuses along with a website set up and a never-heard 400 day Autoresponder email series totally free.
Too good to be true? Click here to take a look at the Awesome Plug In Profit Site.
My Affiliate Power Site – My Affiliate Power Site (or MAPS) was founded by 6 ex-Plug-In-Profit-Site members. It is also a Free Marketing System promoting 6 income streams together. The greatest advantage of MAPS is that your website will be built in WordPress platform.
5 basic criteria while judging an MLM opportunity
1. The product should benefit your target audience so that it would be easy for you to market the product to them.
2. The monthly product fee should be low for most to afford. Like I think a product with less than $20 monthly fee is quite affordable to many individuals.
3. The MLM company should provide high class trainings & resources to your team in order to duplicate the marketing process, so that your network grows over time.
4. The compensation plan should be unique benefiting you and your downlines even from members at least 4 or 5 levels deep in the network.
5. The MLM Company should be a reputable and debt free company.
I personally do not join an opportunity which does not match the above 5 criteria. Be aware that there are innumerable number of scam opportunities around the internet. So please do your due deligence before joining any such program.
Myths about Network Marketing Opportunities
1. It is very difficult to earn money in MLM because common people cannot sponsor a distributer with such business model
Explanation: Yes, it will be difficult if you do not target the right audience. You really need to understand who your target market is. You cannot expect your friends and family members to join you as distributers.
2. Only people joining early in such an opportunity can make money, in other words an MLM opportunity gets saturated after few months or years.
Explanation: Like I said before there are several scam opportunities with incidents of companies shutting down leaving people believe of such a myth. This is something you should have to do a thorough research for before joining any such program. I can show you one example of a company started in 1999 and still growing strong each day which means people who are joining 12 years after in 2011, are still making huge in this opportunity. The name of the company is Global Domains International.
Target Market
There are 3 types of target market:
1. People who have already tried some MLM opportunities in the past but failed and came to the conclusion that this business model sucks
2. People who are successfully playing in any such MLM opportunity
3. People who are familier with the business model but have never tried it and are open to accept such offers – The easiest target market
5 common mistakes made in any Network Marketing Opportunity
1. Pitching friends & family members when they do not have any interest.
2. Not identifying the right target market.
3. Selling the features of the compensation plan and not the benefits of the product.
4. Inability to train your downline to duplicate the results.
5. Not being part of a marketing system to promote your business.