Ways to Make Money
The Power of Leverage
It was J Paul Getty that said, “I’d rather have 1% of the efforts of many people than have 100% of my effort alone.”
The simplest way to explain how network marketing uses the power of leverage is to remember the story of the compounding penny. Take one penny on Day 1 and double it every day. At the end of 30 days, you have over one million dollars.
Now, that’s not quite exactly how network marketing works, however, network marketing uses the principle of multiplication to create leverage.
Nothing New
This isn’t exactly a new concept as a number of professions use leverage, too, although not nearly as effective as the way we do. For example, did you know that every time you pay your insurance premium on your car, your agent makes a royalty commission? Chances are, his boss also earns an override on that, too.
So, you see, the concept of royalty (residual) commissions is not new. Network marketing just uses the concept much more effectively.
Retails Sales, Bonuses and Residual Commission
Every company has their own unique compensation plan and it’s important to research each one before you make your decision.
A reputable company will have at least three ways to make money.. by retail sales profits, bonuses when certain rank advancement are achieves and residual (ongoing) commissions based on the total volume of your team.
For example, in the greeting card company I am with, we have several different ways to make money such as retail profits, coaching bonuses (3 types), leadership bonuses and residual commissions. We actually have 6 different ways to make money.
Some of these are paid weekly, some are paid monthly, so you never have to wait an entire month just to get a check.
Which Company is Best for You?
There are a lot of companies and a lot of different products to choose from. There are several things to look at when researching a company:
1. Products: Would you use the products even if you weren’t considering the business? Are the products in-demand and consumable?
2. Opportunity: Is there a real opportunity with a variety of ways to make money?
3. Strong Leadership and Integrity: Is the company stable with strong leadership that builds their business with integrity?
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