The most common definition of residual income is """"income earned while sleeping"""". Is it really possible to earn money while you sleep? This may appear strange to some, but it is possible.
The billionaire investor Warren Buffet stated that """"if you don't find a way to make money while you sleep, you will work until you die"""".
Many people overlook residual income, despite the fact that it is critical to their future well-being. And what was the end result? With disastrous consequences.
Going to work every day and receiving a paycheck at the end of the month is simply exchanging time for money. Your salary is not recurring. If you stop working, your income also stops.
Let me use the following example to demonstrate residual income.
Consider two men living in a village. Every day, they must walk a mile to a river to get water for their families. After a month, one man begins construction on an underground pipeline to connect the river to his home. He devotes extra energy to his pipeline for an entire year. When he's finished, he'll have a direct water supply to his house, while the other person will continue to visit the river.
Residual income is analogous to constructing a pipeline that connects water from the source to your home, eliminating the need to travel to the river.
In that brief example, you will notice that the pipeline took some time to build. But, having done so, the man continued to have easy access to water.
The second man, who did not take the same initiative, was forced to continue visiting the river for his water supply. What will happen if he becomes ill? He and his family will be without water and will suffer as a result.
There are numerous business initiatives that you can use to generate residual income. However, I do recommend network marketing, or MLM as some prefer to call it, because it does not require a large investment capital to get started.
Many network marketing professionals have spoken about network marketing, but many still pretend to be unaware of it.
The following are the reasons why people will NOT consider network marketing:
• because they do not have the funds.
• because the opportunity or business is not viable.
• because they are concerned about being duped.
• because the profit margins are insufficient.
• because the product's demand is insufficient.
• because they must first consult with their spouses.
• They need a night to think about it.
• They require more time to research the company.
• because they need to speak with you on the phone in order to join.
• because they need to ask other people on Facebook if you're a good sponsor.
• Because they require access to your bank account in order to verify the results.
• They don't believe in it.
The real reason they don't join network marketing business opportunities is that society has conditioned them to be consumers rather than producers of goods.
They have been conditioned to purchase """"education"""" but not knowledge.
They've been taught that having a """"job"""" but not owning a """"business"""" is preferable.
They have been trained to be employees but not to be their own bosses.
They are non-thinkers rather than doers.
Anything that challenges them frightens them.
That is the real issue here. It's about people who are paralyzed by their fears of learning and stepping outside of their comfort zones.
It's about being at ease and not caring what other people think. It's about their family thinking they're FAILURES if they do anything other than work.
If you are currently working, understand that you are only exchanging your time and effort for a pay check at the end of the month. That's fine, but by going to work every day, you're not creating the residual income that will allow you to get water without having to go to the river.
What should you be thinking about now, given what has been stated above? Continue working, but on the side, approach a network marketing professional to set up a network marketing business that you should do part-time. The little part-time effort you put into the business will soon pay off handsomely."""