We are now in the final part of the series, where we will break down the ways you can start earning residual income through MLM network marketing. If you follow these tips you can start earning these residuals from your network, which should be the goal of any MLM network marketing professional. Once you start earning residuals you can really start to reap the benefits of all of your hard work. Here is how to do it.
Before I move onto the last of the Residual Income Series.
I highly suggest you stop right here and read my previous articles regarding residual income.
Part 1: What’s exactly is Residual Income?
Part 2: Why Residual Income is Better than Employee Wages
Part 3: What’s the difference between Residual Income vs Passive Income?
How to Create Residual Income with Your MLM Network Marketing
The first thing you should know is that MLM network marketing is not a way to get rich overnight. In fact, it will take a lot of dedication, hard work and long hours to get your MLM network off the ground, just like any other job opportunity. However, once you put in the initial work you can really start earning money with residual income.
-Recurring Sales: There are basically two ways to make residual income with MLM network marketing. The first way is through recurring sales. Most MLM networking opportunities involve sharing and sales of products, just as in a store. However, the difference is that MLM products are often purchased on an ongoing basis. This means that you will sell a product once, but continue to make commissions from it on a recurring basis, which is what residual income is.
-Sales from within your organization: The second way to earn residual income is by recruiting people to be in your network and teaching them to do the same. You will have to put in some work to share and refer others to make sales on the product and once you do, you can start to earn residuals from their sales. Once you have a big group, you will start to earn a commission of their sales as well.
When the people that you have recruited start to recruit other people your residual income will increase exponentially. Over time your business will grow and grow without any additional work from you.
Tips for Starting Your Path to Earning a Residual Income
Now that you know some of the ways you can earn residual income with MLM network marketing it is time to get started. Here are some tips:
-Use the product: People are more likely to buy a product from someone that has actually used it. If you can give first-hand evidence about the effectiveness of the product you will be more trustworthy to your customers. It will also make it easier for you to answer questions or give details about the product.
-Train your network: Once someone has agreed to join your team you need to give them the information and training they need to succeed. Their success equals more money for you, so be sure to help them out.
-Always be recruiting: To really get those residuals rolling you will need to have a large network. Always be recruiting yourself and be sure that the members of your network are out there recruiting as well.
This concludes our series on residual income. If you’re here for the first time and you’re learning about MLM Network Marketing, and need an idea or suggestion on how to pick a good MLM Network Marketing opportunity. Please contact me here. I look forward to hearing from you!
Awesome tips here Nate! Thank you for sharing!!!
Right on Joan! Thanks!
Nate, this is some great training! Thanks for putting it together!
Awesome! Thanks Katrina!
Such great information, thank you!
Great info as always Nate. Much appreciated. And I must add you really have a flash looking blog!
Thanks Adam for the compliments!
One of my favorite topics is residual income. I too often write about it. It is just so important and a topic too few people understand.
Your tips are excellent. I think to always be recruiting is key as there is always some attrition in a MLM business.
A great article Nate.
Residual Income is somewhat widespread yet, very few understand it. If they did, more people would benefit from it.
Thank you for the kind words. Please stop by again soon. 🙂
Using the product adds an air of authenticity to your campaign Nate. Love the breakdown here!
Use it to speak with passion. You can speak with conviction and absolute confidence if the proof is in the pudding; yep, you must use a product in order to resonate in this manner.
Absolutely Nate! Anyone who believes MLM is a ‘get rich quick’ scheme is deluding themselves! However, I guess the average ‘success’ story takes around 4 years and compared to the 40 years of working in a job, with very, very little prospect (about 100 to 1 against!) of getting rich, it IS quick!!! Once someone has this straight in their head, then MLM is definitely a great way to go!
So true. Is what we all the lottery mentality. Just like any business endeavor, it is a process and the process of learning, growing and building. But it is a shortcut to success, 4 years vs 40 years. I don’t know how much “shortcut” you can “shortcut”. Glad to see you here Robin!
It’s my first time here, great site and article. I love how straight forward and honest you are in the beginning… Its so true, Network Marketing takes a lot of hard work and dedication. SO many promote it as a way to get rich quick as you said. It just doesn’t happen that way.
Thanks, I look forward to reading your other posts.
I believe in Network Marketing. I think sometimes as we go to the meetings, the conventions, the webinars, or whatever platform that it’s important to understand the story behind the glory. Network Marketing is a real business and it’s unfortunate most treat it as a hobby. Thanks Richard and I hope to see you here soon! 🙂
Great info, well presented for those who are not initiated into the MLM world.
Yes, and the old and traditional ways of making money isn’t the only way. Yes, you can make money off leverage and choose how you want to use your own time!