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Wednesday, February 22, 2006

Building real residual income: The magic of network marketing

I was reading Chapter 19- The magic of network marketing: Building real residual income by Barry Friedman in the book the ultimate guide to network marketing.

He shares in this chapter the same concepts that we share in the mentoring for free.

He explains how the residual income can be so significant and not well appreciated.
Obviously, it is better to make $10,000/month forever than making $50,000/month for 3 months.

That's one of the reason I got angry and left orenda international because of their front overloading system and the multiple breakaways in their compensation plans. Obviously, I did not understand these concepts initially until I got a slap in the face when I noticed that they stopped paying me as soon as I stopped working. Breakaways broke my heart ;) , I recovered though, lol. I am mainly interested in recurring income.

Barry Friedman recommends that you explain this concept to your prospects so they can see beyond the immediate cash money.

He gives an example:

If you worked hard in your business for couple of years and you were able to make $3000 residual income, then it is equivalent to 3% interest rate on $1,000,000. Congratulations you are officially making like a millionaire!

Actually, in my own company presentation we use this concept to explain the benefits of multi-level marketing and the recuring income. You may want to add this concept to your company presentation. It will help your prospects to see beyond their noses.

It seems that Barry Friedman is Big Al student, these are the principles taught by Big Al to the industry.

In order for you to get a real residual income, you product should fulfill these criteria:
  • High demand

  • Great value

  • Limited competition

  • Affordable pricing

  • Continuous need

  • Ready availability

  • Geographical availability

  • Products or services backed by a guarantee or warranty

He discusses in this chapter more concepts that I will share with you in future posts.
Keep posted.

Dr. Nabil
Mentor With a servant's heart
Is you MLM sick? Contact the MLM doctor

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