For this weeks post I wanted to branch off on an idea that I had mentioned in last week’s post – educating people on network marketing. For this post I want to focus on residual income.
Residual income is an income you continue to earn, based off of something you did one time. It is important to note however, that not all network marketing companies have the same type of opportunity to create lifelong residual income. Therefore, you will want to do your research on their compensation plan before beginning your journey with that company.
It’s common to be successful in achieving residual income with a company that has consumable products. That is because more than likely, the customer will need to purchase product every month.
Companies that focus on selling trinkets, make-up and jewelry are not the type of products that one necessarily needs to buy each and every month. It’s a lot more challenging to create a residual income with companies of that nature. Of course you will gain override commissions on your sales but it won’t be the same as earning a consistent income off of something you did once.
But with the right company and a goal-oriented mindset, financial freedom is entirely achievable!