Is Passive Income a Myth?

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By Brian Rooney

We keep hearing about and seeing ads for this thing called "passive income". Sounds good, right? But there is a big misunderstanding about passive income, what it is, and how to get it.

The first thing you want to do is learn to distinguish between passive income and leveraged income.

Passive income is where you do not do a single thing and money just keeps coming in. The only real examples I can think of would be things like real estate and the stock market. Even with those, you are required to make some sort of initial investment in order to leverage the properties and the stocks so that money has to come from somewhere. Unless you are a trust fund baby, you are going to have to earn it. Once the investment is made, the income will be passive. It is not without risk, but it won't require day to day management. Most of us would like to have this sort of income coming in.

What is leveraged income? Leveraged income, to my way of thinking, is when you are able to generate income on an ongoing basis from work done previously.

Examples might include things like writing a book. If the book sells well, you write it once and sales come in. You get royalties. Same thing for writing a hit song. You write the song once. If the right people pick it up, the artist records it, and the song becomes a hit, you will be making money for a good while.

Another example of leveraged income is what we do in network marketing.

We put in the work to do two things:

1) Get customers

2) Build a team of customer gatherers.

The key is that we DO the work. Then, as customers order, we continue to get paid. This is where the leverage comes in. The more customers we get, the more we can earn. The team building creates another form of leveraged income. As our team gathers customers, and those customers order, we continue to receive commissions over the lifetime of those orders.

This income is not passive. We need to actively collect customers and build a team in order to tap in to this income. This income is leveraged because we are able to get paid over and over again for work we did previously. This income is leveraged because we are able to get paid on the work our team members do as they build their business.

I have been participating in leveraged income for over 20 years. Initially, my income was based on financial services I sold for a company in Houston. I would work to close the deal and I would then receive commissions for as long as that customer was active with the company. In some cases, I received ongoing monthly commissions for years after the initial deal was done.

These days, I apply that same concept in the network marketing world. I provide services that network marketers use to advertise, build their lists, follow up with prospects, and close more sales.

I show travelers how to save money on hotels, rental cars, resorts, etc... and I get paid every time they pay less.

In each of these cases, I'm actually doing the work to get the customers, so I don't consider this to be passive income. But the fact that I can leverage internet capabilities and team efforts to be paid on an ongoing basis is why I refer to this as leveraged income.

Brian Rooney is the Founder of TrafficWave.net. TrafficWave provides powerful Email Marketing and AutoResponder solutions to thousands of businesses worldwide. Visit TrafficWave.net online for a Free 30 Day Trial.

His personal business blog is located at iambrianrooney.com

Article Source: https://EzineArticles.com/expert/Brian_Rooney/124090

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It's the Right Time to Start a New Business

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Business Opportunities

2020 has been a different year for everyone. The pandemic has impacted jobs and businesses all over the world. The world has updated itself, and you need to make use of this. This is a difficult time for everyone, but this is also the best time to provide you with ample business opportunities.

The influx of internet users has opened up a whole new dimension of small businesses that you can try yourself. People have been locked in their homes, which has offered you the chance to make the most out of it. Home services and remote businesses have become massively popular, and it is not very difficult to get started.

You can make use of the internet and social media to turn your knack into a profession. For example, if you are good at cleaning, you can start a home cleaning service, or if you are a good writer, then get started by working as a freelance writer. These businesses are not entirely new ideas, but the market is booming at the present moment.

As you may have already realized, the two examples mentioned above do not require much investment and just a small amount of effort to reach out to potential customers. So if you are looking for business opportunities, this is the perfect time for that.

Easy to Start a New Business

The internet has already widened our horizons, and anything can be turned into a business easily now more than ever. You can turn your YouTube or Facebook page into a business account with a simple click. There are endless opportunities for turning your services and talent into a full-scale profession.

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If you are good with editing videos and content, you can easily get hired as a freelance editor for different content creators. Considering the sheer amount of content creators on social media, that is not a bad prospect at all. These are some common examples; if you spend some time on the internet and social media, you might have realized that practically anything can be turned into a small business now. So if you have always wanted to start a new business, this is the year to do so.

Small Businesses

The idea that you need established foundations and sources to start your own business is obsolete now. Small businesses are getting more attention than some of the established ones. People are more inclined towards new businesses for variety and attention to customer satisfaction. This is a very encouraging scenario, especially if you have the means to get started with your own business.

Small businesses are the best option for your career right now. There has been a paradigm shift in the population worldwide, and self-controlled ventures and enterprises are being given more importance to promote innovations and creativity. The timing is perfect as the internet helps you out with practically any information you need. So do not hesitate anymore to start your entrepreneurship journey.

As you have gathered from the article that small businesses are the most effective way of having a successful career right now, which means that you have the perfect business opportunities right now.

Article Source: https://EzineArticles.com/expert/Nigunim_Stark/2872784

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Expert Advice To Help You Succeed With Network Marketing

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It makes better sense to work at home, than getting a second job in today's economy. Being an entrepreneur can be hard at first. However, by utilizing network marketing techniques, you can earn some cash, communicate with others, and assist people by being independent agents. The valuable advice given in this article will put you on the right track for network marketing success.

In order for your business to be a success, you must begin to think like a CEO. When you manage your company with strong convictions, your customers are assured that you believe in your products and services. As a result, they will always be comfortable doing business with you.

Know how you're going to answer difficult questions about your network marketing business before they are asked. Inevitably, some people will ask you if your business is a pyramid scheme. Tell them that they need to look elsewhere if that is what they are interested in. Knowing the answers to difficult questions ahead of time will make you appear knowledgeable and savvy.

It's hard to feign concern in MLM if you don't have it, so when a person approaches you with questions or complaints, they'll spot the fakeness if you're displaying it. You won't need to be overly compassionate to their plight, but you will have to take their concerns seriously so that you come across well.

Treat it like a real business and not a get rich quick scheme. That is why you chose a legitimate business opportunity to get involved with in the first place.

Make sure you keep a positive attitude and focus. Many people are in network marketing, and many people enjoy it, but as with everything else, there are also many people who do not like it. Staying positive as you propel yourself through the business world is an essential tool to your success in network marketing.

Ask lots of questions. When you are out doing network marketing in person, make sure that you ask a lot of questions. The person asking the questions is the one in control and asking questions enables you to get as much information as possible from other successful people without having to give away your own secrets.

A good rule of thumb for calculating an emergency fund is to multiply your monthly expenses by nine. With network marketing, you can make that much money with money to spare!

Don't overwhelm yourself with potential contacts. Focus on about ten names at a time. This will allow you to give each contact the personal attention needed to recruit them into your network, without needing to devote your entire life to recruiting. Your list will grow faster than you make connections, but that's okay.

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One place to look for network marketing assistance is in online forums. Plenty of people experience the same difficulties with network marketing programs, and lots of them share those experiences online. Forum participation can give marketers useful strategies and show them pitfalls to avoid. Forums are also great places for marketers in different network programs to cross-pollinate their ideas, sharing tactics with universal applicability.

People are swiftly moving to Kindle, Nook, and other eReaders. It's time for you to write an eBook or a hundred on network marketing! Keep each book simple, concise, and relatively small, as people like to read short eBooks which give them quick and accurate information. Keep your pricing low and the volume of eBooks sold will more than make up for it!

Take a break! Staring at a computer screen all day while working on your network marketing business can wreak havoc on your eyes, leading to expensive glasses or contact lens prescriptions. At least once an hour take your eyes off the screen and try to look out the window at something far away. Relax your eyes until everything goes blurry, and why not do some deep breathing exercises at the same time? Let your eyes rest for a few minutes and then get back to work.

You have to make a decision that your network marketing business will be built to be a success. Many people who start network marketing treat it as more of a hobby than a tried and true business and this inevitably leads to why people fail. It is a business and can make you a considerable income, do not treat it as anything different.

Make use of a network marketing system. A system will help you stay focused on your success and ensure you're taking the right steps to build your network. Networking systems also provide you with tools to measure how you're doing and instructions to patch up the places where you might be struggling.

Network marketing is just one of the various ways big corporations discover their audience by using your particular network. The tips in this article can help you achieve success in your network marketing endeavor.

Kurt Tasche is a cancer survivor, entrepreneur, author and speaker who creates content on the subjects of Internet marketing, ways to make money online, and operating a successful home business. You can learn more by reading his blog at: http://www.kurttasche.com

Article Source: http://EzineArticles.com/10417775

Boost Your Income By Making Money Online

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Making money online can be as easy as just putting your mind to doing it. All you need is a computer and a place to get online. Having said that, it's useful to have a few tricks and pieces of knowledge about where to start successfully, so keep reading.

To generate money on the Internet, you must first discern your niche. Do you like writing? You can sell your articles online or freelance for companies who want you to write for them. Are you a talented graphic designer? You can get hired to work on the designs of people's sites. Introspection can help with this.

Writers can write for sites like InfoBarrel and Squidoo which offer revenue sharing. You can write about whatever you want on these sites and get a portion of the revenue your content generates. They also allow you to link with Amazon's affiliate program to boost your earnings even more.

Schedule your time wisely. Online income is definitely tied to your ability to keep at it on a continuous basis. You cannot get rich overnight. You have to be diligent in your work ethic on a daily basis. You need to have a time established daily for focused work. An hour can make a surprisingly large difference.

Consider taking surveys. There are many out there. Completing surveys allows you to generate a nice income stream. You may not make a lot from any individual survey. This is easy when you have some down time, and that money can quickly add up.

You will need ID to make money online. You will have to offer the same info as when you take on a real life job. If you do not currently have your ID on digital file, make sure you get them before applying to make the process quicker.

Use Google to find money-making opportunities on the Internet. Your query will generate a lot of results. When you find something interesting, thoroughly research the company prior to doing business with them. See to it that you are cautious when dealing the company that you choose.

Before working online, think about how much you value your time. How much do you want to make for each hour that you work? If you want to work for just a small bit, you may never earn more. People will think that you are not worth a lot of money and will pay you in a cheap way.

There are legit ways to make money, but there are also scams online. That is why you need to carefully check each company before agreeing to make money through them. The Better Business Bureau is something you can look to so you can see what a company is like.

You could offer advertising space on your page. One of the best ways to earn money is through advertisements on your website. If you have a popular blog now, some sellers may wish to pay you for having their ads placed on it. The ad drives readers to a new site selling items.

Making money online will be easy if you use these tips. Just learn all you can and never stop looking for new information. Keep reading articles just like this one to broaden your horizons, open your mind and prepare you for success.

Do you want to learn more about working from home opportunities? If so, you can download my new product that teaches you how to succeed working online.

Article Source: https://EzineArticles.com/expert/Chris_DaSilva/2566432

My Internet Business Success Formula For Beginners - Your Proven Path to Success

 

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To say it mildly, online businesses are minting millionaires in droves and this is the best time in all of human history to jump online and create wealth for you and loved ones faster than you ever thought possible. This is not utopian.

It used to take companies at least one hundred years to move from their humble beginnings to global brands. Global brands like P&G (1837), Nestle (1866), Heineken (1864) readily come to mind.

On the other hand, it took each of Microsoft (1975), Apple (1976), Amazon (1994) and Google (1998) less than 10 years to become household names.

Making it big is not limited to tech giants. Individuals are making a killing online in fields as varied and mundane as online training, physical fitness, and writing (otherwise called blogging).

Take as an example Brendon Burchard. He is an online trainer who started circa 2009. Today he has over 3 million students in over 100 countries. Hiss impact is so massive, Oprah refers to him as "One of the most successful online trainers in history." His networth is estimated at N22million.

Another example is Ramit Sethi. He launched his first blog in 2004 and in 2018 was featured in Fortune and Forbes simultaneously. In the same year, Forbes featured Ramit side-by-side with Warren Buffet and estimated his networth at $25m.

Making it big is not limited to the menfolk. Chalene Johnson, the global physical fitness icon, has an estimated networth of $10million, while Marie Forleo has estimated networth of $14million.

While Chalene Johnson has been a household name as a physical fitness coach for over 30 years, Marie Forleo catapulted to fame within the last 10 years aided by her Marie TV, online training, coaching and books.

The fastest, easiest, and cheapest way to make it big is to harness the power of the internet. As the internet gurus say, to succeed online, do what works. In short, do not try to reinvent the wheel.

The internet is a paradigm shift. While it has created stupendous wealth for those who master its ecosystem, it has also accelerated the gap between those who know how it works and those who don't.

Generally, whenever there is a paradigm shift, the knowledge base is reset to zero and everyone has to learn anew. To learn fast and easy, it's necessary to follow a proven path.

To succeed and thrive, you should follow what I dub Internet Business Success Formula For Beginners. As you know, there is order in the universe. If there were no order there would have been chaos. My Internet Business Success Formula For Beginners is a brief but powerful framework that shows you how to succeed Online. If you follow it, you'll succeed. If you don't, you will fail.

The formula consists of 7 steps. Here are they:

Learn day and night
Despite its seeming plug and play simplicity, the internet is a complex ecosystem. To succeed you must learn day and night because change is fast and furious, with basic algorithms changing overnight. Learning enables you to have depth and breadth and keeps you evergreen
Here is the highlight of the things you should learn. Learn:
• How the internet is evolving
• How to be visible
• How to connect with people
• How to build a list
• How to write scripts
• How to create products
• How to make your products discoverable
• How money is made online

Be Visible Off and Online
Being visible requires you increase your off and online footprints so you become known and start building credibility and gravitas. Here are the things you should do to increase your visibility:
• Develop evergreen intellectual properties (books, courses, learning guides, etc.)
• Have a home-base (website or blog)
• Have embassies (social media platforms)
• Have listening posts (mailing lists, social media platforms, podcasts)
• Have satellite towns/cities (guest posting, befriend social media influencers.)
• Stage events and develop your own platforms such as YouTube channel.
• Court the media

Build Relationships
To attract strangers, visitors, friends and former enemies into loyal customers and true fans you have to build relationships. While it makes sense to have a vast relationship base, it's more important to build a base of true fans. Here are the things you should do to build relationships:
• Give out valuable things, like books and e-books, free
• Reach out to your other online influencers
• Extend a hand of fellowship to strangers you meet by providing advice
• Help out with specialized information wherever you can, example in forums
• Make recommendations in areas you have authority; don't be shy
• Join people together as a connector
• Ask for help wherever you're challenged, again don't be shy.

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Build A Mailing List
Make building your mailing list a priority so you have whom to market and sell to tomorrow. There is a raging argument online as to what comes first: mailing list on product. As a beginner don't be distracted by these chicken and egg arguments. List and product are the two sides of the same coin: you online business. Just note that with a list you can market what you don't have through affiliate marketing but a product with a list takes you nowhere. Also note that as a beginner you will not be able to do affiliate marketing. So build you list and pursue your product evenhandedly. Here is how to approach building your list:
• Start a mailing list from day one (at least now you know).
• Begin with the low hanging, medium hanging, and finally high hanging fruits
• Build a segmented list to enable you tailor your messages
• Employ an affordable mailing or contact management system
• Invite people personally to join your list and be persistent
• Give away valuable incentives, such as books, video lessons, etc.
• Keep at it day and night

Have Something To Offer (Create Products)
Create products to sell so you can add more value to your followers. People will follow you because you have something to offer them. When you do, you will make money but making money should not be your primary consideration. When you do it well, the money will come. Here are the things you should do:
• Equip yourself with knowledge and wisdom
• Write and refine your intellectual properties to perfection
• Develop irresistible courses, events & platforms
• Master the required technologies for production
• Master the required technologies for delivery
• Be consistent and focus on things that will last, the evergreens
• Specialize so people know what you stand for

Learn how to Market and Sell Online
Marketing and selling are the lynchpins that bring in the money. The most successful business owners online excel in marketing and selling. Invest a big percentage of what you generate into marketing to generate more sales and continue growing your business. Here are the things you should do to boost marketing and sales:
• Learn how to use marketing to grow your business
• Understand the psychology of buying and buyer behavior
• Learn how to build your business pipeline
• Learn how to build and optimize your sales funnel
• Learn how to craft sales scripts that convert visitors to customers
• Learn how to use social media for marketing
• Learn how to set up your landing pages
• Pursue selling with gusto because to sell is human but don't be salesy

Master Strategies to Win Long Term
Succeeding on a sustainable way online is a marathon. Commit to it for the long haul. Develop insight how effort is monetized online and where money is made along the value chain. Know that Rome, as they say, was not built in a day. If you pursue online business as a sprint or one hundred meters dash, you'll give up too soon and fail. Here are the things you should do at this point:
• Master and refine your winning game plan
• Master the four phases of online business (learning, audience, product, sales)
• Develop a long term view
• Keep keeping things evergreen
• Diversify into adjacent winning areas as you become more confident
• Develop offline assets to mitigate your online risks.
• Repeat and build on the principles of excellence

There you have them, the seven planks that constitute my Internet Business Success Formula. You may be wondering, where is technology, after all we are talking about the internet. The truth is, technology pervades all the seven steps, but technology remains what it is, an enabler. Technology enables you to scale and reach thousands online, but in the end relationships triumph. So we talk about hi-tech, hi-touch.

In the long run you must master technologies that enable you learn day and night, be visible off and online, build relationships, build a mailing list, create products, learn how to market and sell online, and master strategies to win long term.

Knowing the technical aspects or technology is important because you're dealing with machines and technology will help you scale and automate but it's not a paramount condition for success for a beginner.

Success online is anchored in the two magic numbers: 10,000 customer base and $10,000 monthly recurring income. You can achieve both easily if you follow the 7-Step Internet Business Success Formula I have given you in this article. Once you hit these numbers, you're ready to leverage technology to scale. That will be the subject of another article.

Paul is the creator of iSchool, iBFC (Internet Business Foundation Course, iBMC (Internet Business Mastery Course), Content Marketing Mastery Course and BWC ( Book Writing Clinic) where he teaches how to build business online, and write books among others. The founder of Vision & Talent Training Group, he is the author of Bridges to the Customer's Heart, dubbed The Customer Service Bible. Richmond Dayo Johnson, referred to him as "One of Nigeria's most authentic experiential writers." His clients include Fortune 500 and some of Nigeria's biggest corporations including Dangote, First Bank, and Nestoil Group (whose clients include ExxonMobil, Chevron, Shell, and NNPC, amongst others). Paul has been featured in The Guardian, Vanguard, and SilverBird TV. A McKinsey Executive Panel Member, he's a Platinum Author at EzineArticles.Com with 49 articles. Paul's E-Product Development Blueprint For Beginners published on Medium has been downloaded over 1,000 times. A trainer par excellence, overall, Paul has trained over 5,000 in his banking and consulting careers and has over 350,000 training man-hours under his belt. Paul is always happy to help executives write books, create courses, and build their expert empires. Invite Paul to speak at your retreat, strategy or quarterly review session on Winning As A Team. Email: paul@pauluduk.com. Website: https://www.pauluduk.com/page.

Article Source: https://EzineArticles.com/expert/Paul_Uduk/1194732