Understanding the Importance of Residual Income

This article is aimed at explaining the importance of building residual income and also to explain the need for individuals to leverage network marketing business model if their dreams are to gain financial and time freedom. So, even if you presently work a job or business, it is needful that you pay attention to network marketing so as to develop residual or passive income over time.

The commonest way that people define residual income is “income earned while sleeping”. Is it really possible to earn income while, all the while, you are asleep? This may sound strange to some people but, yes, it is possible.

The importance of residual income in a man’s life finds expressions in the statement of the billionaire investor, Warren Buffet, in which he stated that “if you don’t find a way to make money while you sleep, you will work till you die”.

Residual income is a concept that many ignore without understanding that their future well-being is dependent on it. And with what result? With damaging consequences.

By going to work every workday and receiving a salary at the end of the month, you’re simply exchanging time with money. Your salary is not residual. If your work stops, your income stops automatically.

Let me explain residual income with the following example.

Imagine two men in a village. Both have to walk a mile every day to a river to get water for their families. After a month, one man starts working on building an underground pipeline to connect the river to his house. For an entire year, he expends extra energy working on his pipeline. When he finishes, he has the source of the water directly to his house, while the other person continues to visit the river.

Residual income is like building a pipeline to connect water from the source to your house so that you don’t always have to go to the river.

In that short example, you will notice that it took some time for the pipeline to be constructed. But having done that, the man continued to enjoy water supply effortlessly.

However, the second man who failed to take the same initiative had to continue to visit the river for his water supply. What will happen if he becomes indisposed? He and his family will stay without water and suffer its consequences.

There exist many business initiatives that you can leverage in your effort to build residual income. But I do recommend network marketing, or MLM as some would like to call it, due to the fact that it doesn’t requre a tonne of investment capital to set up.

A lot has been said about network marketing by various network marketing professionals but many still feign ignorance about it.

The reasons people WON’T take a look at network marketing is NOT:

• because they don’t have the money.

• because the opportunity or business isn’t good.

• because they are worried about being scammed.

• because the profit margins aren’t high enough.

• because the demand for the product isn’t wide enough.

• because they need to ask their spouses first.

• because they need a night to sleep on it.

• because they need more time to research the company.

• because they need to get on the phone with you to join.

• because they have to ask other people on Facebook to see if you’re a good sponsor.

• because they need to see your bank account to prove the results.

• because they don’t believe in it.

The real reason they don’t join network marketing business opportunity is that they have been conditioned by society to be consumers of goods and not producers.

.They have been conditioned to buy “education” but not to buy knowledge.

.They have been conditioned to have a “job” but not to own a “business”.

.They have been conditioned to be workers but not to be their own bosses.

.They are non-thinkers instead of go getters

.They are intimidated by anything that challenges them.

That is what this is really about. It’s about people who are so afraid of learning, and stepping out of their comfort zones and being paralyzed by their fears.

It’s about being comfortable and caring what other people might think. It’s about their family thinking they are FAILURES if they do anything besides just having a JOB.

If you’re working presently, understand that you are only exchanging your time and effort for the pay cheque you receive at the end of the month. That’s okay though but by going to work every day, you are not building residual income which is the pipeline that will enable you to get water supply without having to go to the river.

An Overview of Initial Coin Offering (ICO)

ICO is a means of raising funds in unregulated means for different cryptocurrency ventures. It is something that startups use so as to bypass the regulated and rigorous capital raising process that banks and venture capitalists require. In such a campaign, a given percentage of the cryptocurrency is sold to the project backers very early for other cryptocurrencies or legal tender.

How it is done

When a firm wants to raise money using the initial coin offering, there needs to be a plan on white paper stating the details of the project. It should outline what the project is about, what the project needs, what it aims at fulfilling completion. It should also state the money that will be needed so as to undertake the whole venture and how much pioneers will get to keep.

The plan also has to mention the kind of currency accepted and how long it intends to run the campaign. During such a campaign, the supporters and enthusiasts of the initiative will buy the cryptocoins using virtual currency or fiat. The coins are called tokens and are very similar to company shares that are sold to investors during IPOs. If the minimum funds required are not reached, then the money is refunded and the whole ICO is then considered not successful. When requirements are met within a set timeframe, the cash can be used to initiate the scheme or even complete it if it was still progressing.

The investors who take part in the project early are mainly motivated to buy crypto coins hoping that the plan will be successful and after launching they will get more value from it. There have been very successful projects of this kind in different economies and that is one main thing that motivates investors.

Similarities

ICOs can be compared to crowdfunding and IPOs. Just like the IPOs, a stake has to be sold by a startup company so as to come up with funds that will aid the operations of such a company. The only difference is the fact that IPOs deal with investors while ICOs work closely with supporters who are very keen about new projects just like the crowdfunding event.

However, ICOs are different from the crowdfund in the sense that the backers of ICOs are usually motivated by the fact that they may get a great return on the investment. The funds raised through crowdfunding are basically donations. It is for this reason that ICOS are referred to as crowd sales.

There have been many successful transactions so far. The ICOs are an innovative tool within our digital era. However, it is important for investors to take precaution since there are some campaigns that can turn fraudulent. This is due to the fact that they are highly unregulated. Financial authorities do not take part in this and if you lose funds through such initiatives, it is hard to follow up so as to get compensation.

To this effect, there are some regions that do not allow the use of ICOs at all. It is important to only buy such currency from trusted sources so as to be safe.

Based on how ICOs have expanded over the past year, it shows that there is great potential. ICO marketing agency can get you involved in some of the most successful campaigns so as to get the best returns on investment.

Why Your Business Needs an Online Marketing Strategy

Whether you own a local brick and mortar business or an online company, you’ll want to use the Internet to promote your products and services. The online community is a vast goldmine of potential consumers who log in each day to search for every good and service you could imagine. If you have a product or service, there’s a market for it online. Tapping into that world-wide reservoir of customers is a must if you want your business to not only succeed, but thrive. While word of mouth and certain offline advertising can be great revenue generators for your business, it is important that you implement an online marketing strategy and get it working for you and your business.

Just like any other task involved in the promotion of a business, you’ll need to come up with a solid, effective online marketing strategy, to ensure the best possible outcome – in this case, boosting your customer base, and therefore your business revenue. This doesn’t need to be rocket science, you just need to outline the steps you are going to take to promote your business online.

Promoting Your Business

The most important goal in an online marketing strategy is getting consumers to view your webpage; they can’t buy what they can’t see. This isn’t something that can be left to chance, as there are literally millions of websites online for customers to browse. You’ll need to find a way to direct these consumers to your website, via any number of effective tactics, such as search engines, email marketing, pay per click advertising, social media etc. That way, any time an online consumer is looking for something you provide, you’ll have a that much more of a chance of being their primary choice. Whatever your product or service, you want your business to be known as the market leader. The main factor to ensure in promoting your business is that you’re targeting the right market; if you sell antiques, don’t target a dog training market. While that is an extreme example, the principal still applies.

Where to Promote Your Business

There are many places where you can implement your online marketing strategy; from social media to local business directories, you’ll find that the sky is the limit. All that’s needed is finding the right market and you’re set.

Search Engine Optimisation (SEO)-One of the most common ways to get your site on the first page of major search engine results is through SEO. Find keywords that people are typing in online and target your website around these. Search Engine Optimisation is a very profitable strategy and should be used by most business owners.

Social Media – Social networking sites like Facebook, Twitter and Google+ offer extensive opportunities for online marketing. These sites have millions of members who visit their pages daily; having your business listed on here would guarantee consumer traffic to your website. Just remember though, social media is about engaging and not selling, so make sure that you build up a relationship with your potential market when you start using social media.

Advertisements – Banners are viewed daily across the web; find websites in your particular niche and place your ads within these pages. This is an under utilised tactic that can be very profitable for your business if you engage with the right audience.

Blogging – Blogging on a website like blogger.com is an extremely effective means of marketing your business, especially within niche related blogs. For instance, if you’re a cake baker and you write a daily blog describing a new type of cake you baked, or about a design you created, and show pictures within that site, not only are you going to generate a following of people wanting to learn how to do this themselves, you’ll gain a steady base of customers dying to have their next big day celebrated with a cake from you. Blogging not only establishes your name in the world of cakes, it can also provide you a following as a leader in your market.

Why Your Business Needs an Online Marketing Strategy

The above are just a few examples of where you can promote your website and what you can base your online marketing strategy around.

It doesn’t matter if you’ve been in the same location for 50 years; if you’re looking to generate greater exposure, and thereby greater revenue for your business, there is no better place to do so than online. And if you’re looking to market online, you’ll need to find an effective online marketing strategy to ensure your online success.

Remember, this doesn’t need to be complicated. Find out where your market is, and look to tap into a couple of these avenues. You don’t need to do every aspect of online marketing. Set a strategy where you are going to get the quickest return on investment. Remember to revisit your strategy every 3-6 months and adapt as necessary.