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Good question. Lots of answers.
Let's ask Tom Big Al Schreiter - THE MLM Pro:
Group 1.
You can simply participate in MLM just
to save money on your personal purchases. Buying products
and services at wholesale prices makes sense. Buying
product and services at retail won’t make you rich.
In fact, if everyone knew they could purchase at the
wholesale price, just for becoming a distributor,
why wouldn’t everybody already be an MLM distributor?
Because they don’t know.
Why not become one of the smart consumers?
Save money.
Become an MLM distributor and purchase at the distributor
wholesale price.
Group 2.
Most people want a little more out of
life. They want another car, a newer car, a different
house, more vacations, and extra money for bills,
retirement, or the fun activities available to people
with available cash. You can have this extra money
by working part-time in your own MLM business.
How much extra part-time income can
you expect? Do you want $500 extra per month? $1,500
extra per month? Or, $5,000 extra per month? You be
the judge. It depends on the time you are willing
to invest, and your skill.
Let’s look at your time. Everyone has
24 hours in a day. Some people complain, "I don’t
have time for anything!" That’s not true. These people
have the same 24 hours a day that you do. The secret
is how people choose to allocate their
time. If you allocate eight hours a day for cable
TV, you won’t have time to build your part-time business.
If you allocate four nights a week to bowling, your
available time will diminish.
Time is one-half the formula for your
MLM success. The more time you can devote to your
business, the more money you’ll make. Some people
allocate 3-5 hours a week to their business, others
spend 10-12 hours a week. It’s your decision how much
time you can invest in building a permanent part-time
income.
The other half of your formula calls
for skill. Skill can be learned. When you join,
you will have several mentors who can help you learn
and improve your skills. Your sponsor, your sponsor’s
sponsor, and other upline leaders have a financial
stake in your future. The more you are successful,
the more they are successful. You’re on the same team.
Use your team members to help you succeed.
Your part-time business requires sweat
equity (time and training). Without risking lot of
money on a franchise or business, you can still get
rewards. Maybe you build your business to $300 a month
and feel comfortable. Would $300 a month make a difference
in your lifestyle? It sure could.
The $50 Payoff
I know of one instance where a $50 monthly
bonus check made all the difference in the world for
one distributor. I had lunch with the young man several
years ago. He was a vegetable farmer from Missouri.
When his $50 bonus check arrived in the mail, he was
so excited he couldn’t stop talking about it. I couldn’t
figure out why, so I asked him, "Why all this excitement
over a $50 bonus check?"
He answered, "You see, I’m a
vegetable farmer. After all my expenses, I end up
with about $5 a month that I can call my own. That’s
it. Just $5. Well, I got this $50 bonus check, and
that’s 10 times more spending money that I usually
have. I can take the family to a movie, have dinner
out, or a dozen different choices I never had before."
He got me thinking. If your regular
job pays all your day-to-day expenses, then any bonus
check your receive for your part-time business is
"fun money." It’s not spoken for. So, if you have
an extra $500 bonus check a month, WOW! You could
use it to make payments on a brand new car. Or, get
a larger house. Or, take a cruise every two or three
months. Set up an investment program and retire early.
Or, ???? Hmmm. Extra money really means more once
your everyday expenses are covered by your salary.
The $100,000 Problem
Sometimes the part-time bonus checks
even exceed your full-time salary. My good friend,
Tom, had a problem. His regular job earned him $50,000
a year. After working his MLM business part-time for
three years, his part-time MLM bonus income neared
$100,000 a year. Now, I wouldn’t think he had a problem,
but he came to me with a worried face and said,
"Tom, I’m just getting too busy.
I’m afraid I won’t be able to service both my job
and my part-time business fairly, unless I give up
one of them. I like giving good service and doing
things first class."
Well, my friend had good MLM skills,
his part-time income certainly was the exceptional,
but I really questioned his business sense.
I said, "If you are making twice as much part-time
in MLM as your full-time salary, I think it would
make sense to quit your full-time job and enjoy your
$100,000 part-time income."
He agreed. Now his part-time MLM income
continues to increase and he has time to work out
at the gym, spend time with his family, visit friends
on the telephone, travel, and yes, he still fits in
his MLM business. While he may have been confused
originally on which career to give up, it does prove
that you don’t have to be a nuclear scientist to build
large incomes in MLM.
Use a conservative investment strategy
to build a fortune
Another friend, Bob, used a conservative
investment strategy to build a fortune from a relatively
modest MLM monthly bonus check of only $500. How did
he do it?
He said to himself, "My monthly job
earnings pays all my bills, so I’ll just use the extra
$500 a month to pay off my house mortgage faster."
In only four years time his house was completely paid
off. Now, he had an extra $1,000 a month free because
there were no more mortgage payments, and the additional
$500 a month MLM bonus check. With the $1,500 total
free monthly spendable cash, where should he invest
it?
Bob purchased the house next door. The
tenants’ rent payment paid the monthly mortgage. Bob
invested the extra $1,500 of his monthly cash flow
to accelerate his mortgage repayment schedule. In
about five years, the house next door was completely
debt free.
Now Bob’s financial picture looked like
this. His regular job paid all his living expenses,
plus he had $1,000 a month free because he had no
mortgage on his personal residence. Rental income
from the house next door added an additional $1,000
of monthly cash flow. And, Bob’s bonus check still
averaged and extra $500 a month. So what did Bob do
with his extra $2,500 in extra cash flow? He purchased
another house down the street. The tenants’ rent paid
the monthly mortgage plus Bob added an additional
$2,500 a month in principal reduction.
Soon Bob’s financial picture looked
like this. His regular job paid all his living expenses,
plus he had $1,000 a month free because he had no
mortgage on his personal residence. Rental income
from the house next door added an additional $1,000
of monthly cash flow. Rental income from the house
down the street added an additional $1,000 of monthly
cash flow. And, Bob’s bonus check still averaged and
extra $500 a month. So what did Bob do with his extra
$3,500 in extra cash flow?
Well, you get the picture. Bob never
earned more than an average $500 bonus check, yet
now, he is financially secure. Even if Bob were to
lose his job and his MLM company go out of business,
his monthly rental collections would support him nicely.
As of today, his monthly net income is over $5,000
from rental payments alone.
Group 3.
Finally, there is a full-time career
in MLM. It takes time, you have to develop and learn
the skills, and it probably won’t happen overnight.
In fact, some people with great part-time MLM incomes
never quit their jobs because they love their jobs.
They love what they do. The extra money from their
part-time income guarantees they will always have
choices. Their choices.
However, many people jump at the chance
to leverage their MLM incomes even higher by making
MLM their full-time career. What incomes do these
experienced, skilled, full-time professionals make?
A lot. If you pay your dues, you should expect to
be rewarded. Many times you’ll hear of certain MLM
professionals earning unbelievable incomes of six
figures a month. Well, these people are the exception.
The real full-time success stories in MLM are those
leaders who have time with their families, time for
their church, time for their hobbies, and time for
whatever they desire because they receive a four or
five figure monthly MLM bonus check and now have the
time to enjoy it.
So, how much
can you make in MLM? It’s entirely up to you.
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