Financial Freedom On A Shoe-String Budget
Financial Freedom On A Shoe-String BudgetBy Tony Bhachu, Copyright © 2005================================================= Thousands of people become millionaires each year and attributetheir success to their profitable business or savvy investments,especially in real estate. "It takes money to make money..." asthe old saying goes.However, is that really the case or is there a way for theaverage person to elevate themselves from the daily grind oftheir 9 to 5, and attain fina...
...ncial freedom starting fromabsolutely nothing?Take the average Joe Shmoe who works all the hours of the day toprovide for his family and in return, receives a paltrypay-check from an unsatisfied ever-demanding employer, and findshimself repeatedly sinking to his overdraft limit as the trickleof bills, direct debits, mortgages and loan repayments taketheir drain each month.What hope does the average person starting with a shoe-stringbudget really have of attaining financial freedom?Pretty good, dare I say ..There has never been a better opportunity to make money onlinethan right now! Millions of people all over the world are actively looking foropportunities on the web, trying to find a way to earn anadditional income. Hopefully, an income that will replace theirown 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 alreadyexists in MLM (Multi-Level Marketing) or Network Marketing.Instead of marketing pills, potions and lotions like thepioneers of the industry, these days there is an abundance ofcompanies promoting their online and informational servicesthrough the Internet such as internet service providers,web-hosting, web-conferencing, internet marketing and onlineadvertising.The advantage of these online MLM businesses is that theirproducts are marketed and distributed over the internetseamlessly. There are no unnecessary storage, distribution ortransportation costs involved. Products can literally bepurchased and accessed by the buyer at the touch of a button.Now, the majority of these online MLM businesses are structuredso that you pay a relatively small monthly subscription or amembership fee in exchange for the online goods and services.Additionally, most of these businesses will also provide youwith your own corporate designed marketing or affiliate website.A portion of your subscription fee goes to the person thatintroduced you to the business (your sponsor) and the rest tocompany that provides the goods and services.There are several variations in how the commission structureswork, but essentially, the more people you sponsor, the moreyou'll earn.More importantly, however, you'll also receive a smallcommission from the subscriptions of your collective downline(all the people that are sponsored under you and your directrecruits). This is where the residual income element isgenerated, 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 have1000 people in your collective downline. Let's assume that thesubscription fee is $25 per month, and you receive a smallpercentage of the monthly subscriptions from everyone in yourdownline (even those that you have not directly recruited). Ifyour commission happens to be $5 per person, you have builtyourself a residual income of $5000 per month! Just to clarify,that is $5000 you will receive every month without any furthereffort on your part.The most important thing to remember here is that you can have1000 people in your collective downline without physicallyhaving recruited 1000 people yourself. You may have only eversponsored 5 people. Let's say that the 5 people you sponsoredwent on to sponsor 5 others, taught the 5 people they sponsoredhow to the same, and this continued on down several levels untilyour downline mushroomed up to the 1000 mark.With any MLM business, duplication is of paramount importance inbuilding up a large downline. The majority of really successfulMLM and network marketers build their fortunes by training asmall handful of people and in turn, showing them how to do thesame with their direct recruits. By instilling this process ofduplication as part of their training system into the hearts andminds of their marketers, large downlines consisting of tens ofthousands of people have been created by several organizations.Duplication is all about leverage, and this is the real powerbehind Network Marketing. If you can understand this, then youhave just learned the number one, and only proven system ofbuilding up a huge downline in any MLM or Network Marketingprogram.Furthermore, today's technology has simplified and amplified thepower of duplication. Most online MLM companies will provide youwith an automated turnkey system to assist you in recruiting andsponsoring others online. You just need to plug into thesesystems by purchasing MLM leads (purchased through the company'slist of approved leads vendors) which automatically get uploadedinto your auto-responder (a built-in emailing system also kindlysupplied as part of your marketing toolkit). These opportunityleads or prospects are periodically emailed a series ofmarketing letters over a number of weeks or even months,enticing them to join your profitable and rewarding onlinebusiness opportunity. It seems that not a day goes by without an invite from someoneasking me to evaluate their latest ticket to wealth, their newlyfound online business. In fact, the problem is no longer a lackof finance or opportunity, it's more a case of selecting asuitable opportunity from the lorry load of online enterprisesfilling up our Inboxes with their marketing emails.Therefore, in the case of an average person such as Joe Shmoe, Iconcur that there has never been a better opportunity ofachieving financial freedom starting off on a shoe-string budget.
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