Recurring Income Secrets

Recurring Income Explained
Recurring Income is another term for residual income. In a nutshell, there are
three (3) types of income streams that you may have coming into your business.
1. If you do a one-time job, sale or perform a contract, you get paid once
and the income stops there.
2. If you do a normal 9 to 5 job, you will continue to get paid as long you
continue to work for your employer—often called a linear income. This is
the type of income that the majority of workers “enjoy.” Even if you are a
neurosurgeon, lawyer or engineer, you are only paid as long as you
continue working. You stop working and the bank account dwindles.
3. The third type of income is the recurring income where you are paid
e ven a fter you have stopped working. For example, you wrote a book and
as long as your book continues to sell, you will continue to receive royalty
income for a work done once.
Majority of rich and affluent people created wealth through a form of recurring
income stream. Take singer Michael Jackson for example; he still continues to
receive royalty from the sales of his records made decades ago. He can even
repackage the same oldies and sell them to generate new income. He doesn’t
have to spend time in the studio to record new songs in order to have the cash
keep flowing in! This is the most ideal situation of the three. We would all like to
work once and get paid over and over again. That is the power of recurring
income!
The majority of professionals that enjoy this type of income belong to the creative
fields such as actors, writers, singers, and inventors.
Unfortunately, not many of us are blessed with the talents Michael Jackson has,
let alone the opportunities to be in the lucrative industries. However, there is one
budding opportunity for any ordinary individual today to enjoy residual income
today in the 21st century.
You’ve guessed it: it’s none other than Network Marketing.
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Recurring Income Secrets
Network Marketing Reviewed
The field of Network Marketing or Multi-level Marketing (MLM) has also been
instrumental over the past 60 years or so to make the recurring income concept
very popular and attractive.
Here, you can build a network of distributors, referred to as your down line, and
generate income outside of your own immediate effort. Working for Network
Marketing company is one of the most feasible places where you can generate
recurring wealth, and so we will now take a look at the secrets to being a
successful network marketer.
Choosing a Network Marketing Company
According to a respected journalist, Richard Poe, in his book Wave4 – Network
Marketing in the 21st Century, Network Marketing is responsible for moving
over a whopping **$100 billion** of goods and services yearly on the global
front. It is therefore very likely that you have already come in contact with some
type of Network Marketing product or service. The concept of moving goods
through an army of independent distributors has earned its place in the marketing
world despite the negative publicity suffered by the industry. Network Marketing
is here to stay; the question that remains is, “How do I choose a company?”
Here are some very important pointers that would guide you in the right direction.
Any company that you can find passing these criteria will be a great company to
line up with.
1. A company that has been in business for at least 5 years and has great
financial backing, excellent management and a ‘distributor first’
philosophy. The company should also have a long-term development goal
and not just be out for the quick cash.
This may be a pretty tall order to reach but considering that the great
majority of start-up Network Marketing companies fail within their first
three years you don’t want your income stream to suddenly dry up! It’s no
picnic to discover that after you’ve spent time, effort and money to build a
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Recurring Income Secrets
solid organization the company closes down because one of those
essential elements was missing.
There is the prevalent myth that the best time to join a company is at startup—
the so called ‘ground floor opportunity’—, but if the truth be told, the
ground often caves in leaving many people very unhappy. This does not
mean that you should wait for five years to see if a company would do
well, because logically, this would mean that no Network Marketing
company will ever get started.