Financial Freedom On A Shoe-String Budget
By Tony Bhachu, Copyright ? 2005
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Thousands of people become millionaires each year and attribute
their success to their profitable business or savvy investments,
especially in real estate. "It takes money to make money..." as
the old saying goes.
However, is that really the case or is there a way for the
average person to elevate themselves from the daily grind of
their 9 to 5, and attain financial freedom starting from
absolutely nothing?
Take the average Joe Shmoe who works all the hours of the day to
provide for his family and in return, receives a paltry
pay-check from an unsatisfied ever-demanding employer, and finds
himself repeatedly sinking to his overdraft limit as the trickle
of bills, direct debits, mortgages and loan repayments take
their drain each month.
What hope does the average person starting with a shoe-string
budget really have of attaining financial freedom?
Pretty good, dare I say ..
There has never been a better opportunity to make money online
than right now!
Millions of people all over the world are actively looking for
opportunities on the web, trying to find a way to earn an
additional income. Hopefully, an income that will replace their
own salaries, to give them the financial freedom that they seek,
and hopefully make them instant or even, gradual millionaires.
The vehicle that will take you to your destination already
exists in MLM (Multi-Level Marketing) or Network Marketing.
Instead of marketing pills, potions and lotions like the
pioneers of the industry, these days there is an abundance of
companies promoting their online and informational services
through the Internet such as internet service providers,
web-hosting, web-conferencing, internet marketing and online
advertising.
The advantage of these online MLM businesses is that their
products are marketed and distributed over the internet
seamlessly. There are no unnecessary storage, distribution or
transportation costs involved. Products can literally be
purchased and accessed by the buyer at the touch of a button.
Now, the majority of these online MLM businesses are structured
so that you pay a relatively small monthly subscription or a
membership fee in exchange for the online goods and services.
Additionally, most of these businesses will also provide you
with your own corporate designed marketing or affiliate website.
A portion of your subscription fee goes to the person that
introduced you to the business (your sponsor) and the rest to
company that provides the goods and services.
There are several variations in how the commission structures
work, but essentially, the more people you sponsor, the more
you'll earn.
More importantly, however, you'll also receive a small
commission from the subscriptions of your collective downline
(all the people that are sponsored under you and your direct
recruits). This is where the residual income element is
generated, from the subscriptions of everyone in your downline,
and where fortunes are created with MLM and Network Marketing.
The best way to illustrate this point is with an example.
Let's say that you have built up your online business and have
1000 people in your collective downline. Let's assume that the
subscription fee is $25 per month, and you receive a small
percentage of the monthly subscriptions from everyone in your
downline (even those that you have not directly recruited). If
your commission happens to be $5 per person, you have built
yourself a residual income of $5000 per month! Just to clarify,
that is $5000 you will receive every month without any further
effort on your part.
The most important thing to remember here is that you can have
1000 people in your collective downline without physically
having recruited 1000 people yourself. You may have only ever
sponsored 5 people. Let's say that the 5 people you sponsored
went on to sponsor 5 others, taught the 5 people they sponsored
how to the same, and this continued on down several levels until
your downline mushroomed up to the 1000 mark.
With any MLM business, duplication is of paramount importance in
building up a large downline. The majority of really successful
MLM and network marketers build their fortunes by training a
small handful of people and in turn, showing them how to do the
same with their direct recruits. By instilling this process of
duplication as part of their training system into the hearts and
minds of their marketers, large downlines consisting of tens of
thousands of people have been created by several organizations.
Duplication is all about leverage, and this is the real power
behind Network Marketing. If you can understand this, then you
have just learned the number one, and only proven system of
building up a huge downline in any MLM or Network Marketing
program.
Furthermore, today's technology has simplified and amplified the
power of duplication. Most online MLM companies will provide you
with an automated turnkey system to assist you in recruiting and
sponsoring others online. You just need to plug into these
systems by purchasing MLM leads (purchased through the company's
list of approved leads vendors) which automatically get uploaded
into your auto-responder (a built-in emailing system also kindly
supplied as part of your marketing toolkit). These opportunity
leads or prospects are periodically emailed a series of
marketing letters over a number of weeks or even months,
enticing them to join your profitable and rewarding online
business opportunity.
It seems that not a day goes by without an invite from someone
asking me to evaluate their latest ticket to wealth, their newly
found online business. In fact, the problem is no longer a lack
of finance or opportunity, it's more a case of selecting a
suitable opportunity from the lorry load of online enterprises
filling up our Inboxes with their marketing emails.
Therefore, in the case of an average person such as Joe Shmoe, I
concur that there has never been a better opportunity of
achieving financial freedom starting off on a shoe-string budget.
About the author:
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Written by Tony Bhachu, webmaster of 'The Dummies Guide
To Financial Freedom', dedicated to help you make money
online and attain financial freedom as quickly as possible
=> http://www.DummiesGuideToFinancialFreedom.com
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