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Why You Must Leverage the Talents and Time of Others |
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Written by Cathy Yeatts
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Tuesday, 13 May 2008 23:03 |
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Looking for ways to earn extra money from home? Or maybe you are looking for a way to create a full-time income from home? Spend just one hour on the Internet and you'll be overwhelmed with ideas. Buy a carpet cleaning franchise. Buy a women's fitness franchise. Become a real estate agent.
by CathyYeatts
Looking for ways to earn extra money from home? Or maybe you are looking for a way to create a full-time income from home? Spend just one hour on the Internet and you'll be overwhelmed with ideas. Buy a carpet cleaning franchise. Buy a women's fitness franchise. Become a real estate agent.
There is a major problem, however, with these types of self employment ideas. Your income will now 100% reliant on your ability to work. If there are not enough hours in the day to complete the work, you may have to work six days a week. Maybe seven day a week. Need to take some time off for a vacation or family issue? Get ready to lose income for the days you are not working.
In Robert Kiyosaki's bestselling book, The Cashflow Quadrant, we learn that employees and self-employed people are limited by the amount of time they can work. Since nobody can work 24 hours a day, there is an inherent limit on income potential.
Kiyosaki goes on to show that business owners and investors have incomes that don't necessarily require exchanging time for money. How is this done? Put simply, they have systems in place to leverage other people's skills, efforts and time.
These types of systems create income for the business owner/investor, no matter the time of day, no matter the location. This type of income may be referred to as 'passive' or 'residual' in nature.
A key concept to wealth building is learning how to make money work for you, instead of you working for money. Some people choose residential and commercial real estate to create this type of income. This works extremely well, assuming you have access to credit lines. You will also need to have large amounts of liquid cash for down payments and reserves.
If you do not have the credit and cash needed for real estate, there is another way to create passive income, leveraging the skills, talents and time of others. It's called Network Marketing.
Don't want to chase friends and family, convincing them and selling to them? Me neither. My company of choice is Success University, an MLM company that is global and Internet-based. There are no physical products to purchase or store.
Success University is an opportunity that is available to the average person, regardless of their current financial statement. You can begin the process of replacing your income, for a monthly investment of about $50. No previous Internet marketing experience? No previous online business experience? Success University will be the training foundation of your new venture.
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