Work from home with your own business

Saturday, December 10, 2005

Multiple Income Streams - Do We Need That?

Multiple Income Streams - Do We Need That? By Cheriyan Thankachen

Lets look at an earning pattern of two individuals A and B. A earns his 100% income from Source1, his only source. B earns in a slightly different pattern. He earns just 1% income from Source1, 1% income from Source2, 1% income from Source3 and so on. In short, B earns his 100% income from 100 different sources.

The possibility of something happening to Source1 or any one source is very high. If this proves true, individual A loses his 100% income. So, from 100 he goes straight to 0. Very scary!. Lets look at B in this case. He loses one source, there’s almost no impact on his income because he has just lost 1%. We may consider a situation where he might lose income from 50 Sources. Nothing to be very concerned because he still has 50% income running in. That’s the beauty and security of having multiple income streams.

Security – Salaried people talk about Job Security. There is no such term as Job Security. You loose a job I bet you will find another one. If not in the same city then another city. If not the same profession another profession. But, you will do whatever you can physically and will find another job. You are and will be able to generate income as long as you are physically doing it. You are directly and totally responsible for your income. That’s called NO SECURITY. Why? Eg. Famous Surgeon. Earning thousands per month. Involved in a small mishap. Fingers fractured. Out of action for say 5 months. Income status. From thousands to zero. No security.

You should be involved in business where your physical involvement is not required to generate income or money. That’s where Network Marketing comes into the picture. Here your income is the result of small efforts put by each and every individual in your network. You are not directly responsible for your income. That’s where you can have Financial Security.

I work for a software company and talk to my colleagues of having multiple incomes. My recent focus is Internet Marketing which is a field on unbelievable rapid growth. I started a blog last month titled Educated Minds which can be found here.

Home Business Marketing: Creating Your Image

Home Business Marketing: Creating Your Image By Mical Johnson

Do First Impressions Make an Impact?

The image you create, your site, your dress, your attitude, your place of business has an enormous impact on your long-term success.

Everything you do, say, write or publish all influences your future customer's perception. The old aphorism is true, “You never get a second chance to make a first impression.”

Evaluate your business and personal image and ask yourself a few simple questions:

  • When a client contacts me, are their issues handled quickly?
  • Are you and/or your assistant both polite and professional?
  • Is your voicemail/email system systematized and prompt?
  • How soon do you return calls and/or emails?
  • Are you well-versed for the meeting with them?
  • Do you follow up with a personal touch after every meeting?
  • Make sure you are exceptional compared to the competition with marketing materials that really captivate your future prospect, especially if their first impression of you will not come from a face-to-face meeting.

    People are naturally enchanted by others with confidence. Knowing your product and being a pupil of your discipline will result in a high level of self-respect.

    Now, ponder to yourself and ask this question, "Would I want to work with this person?" If the answer is still no, start breaking down the areas of your business and yourself that could use improvement and start to change today.

    Mical Johnson is an entrepreneur, speaker and business builder. He specializes in helping Home Based Business Owners, Affiliate Marketers, and Network Marketers to build their businesses.

    Giving you what you need to succeed in a home based business and make a profit from the start. Sign up for our ezine and receive you free bonuses to build your business.

    Copyright 2005 - Mical Johnson. All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active, do not edit the article in any way.

    Why I Won't Join An MLM

    Why I Won't Join An MLM By Bill White

    When I was growing up, multi level marketing had an extremely bad reputation. In my early adulthood I had the opportunity to interview for jobs that offered high pay and "relaxed work environments." After going for several of these interviews I developed an understanding of why multi level marketing had such a bad reputation. I've seen and tried out several multi level marketing programs on the web as well and now have an even greater understanding of why these programs just aren't for me.

    The first thing I've noticed about these programs is that the products they pitch are almost always at a premium price. I'm sure you know in our present economy, that even with a recovery happening, people just aren't wanting to waste their hard earned money on over priced products. Many health related products are sold this way and it makes me very sad to see it. See, my take on health products is very simple. I strongly believe in taking supplements and have no problem recommending them. Not only that, the industry is growing incredibly as the baby boomer generation comes of age. The flaw is that many of the baby boomers who are certainly among the most interested in health products were caught in the forced early retirement trend of the 80's. This places many of them on tight budgets..and with already spending a high amount on prescription drugs, the thought of spending these ridiculous amounts for vitamins leaves many a would be health conscious boomer taking an off the shelf vitamin instead. So bottom line on this point is greed in the MLM industry kills a significant portion of the market.

    The next thing that really leaves me unsettled by MLM is the fact that you can make great money if you get in towards the top. While this is great for your motivated people in the higher rungs...eventually you get market saturation and those on the lower rungs are buying their overpriced quote without a chance to recruit or sell to anyone. I find this highly unethical.

    Last, you inevitably get a higher pay out buying the most expensive product monthly that you do the mid or bottom end product. If you sold the same type of products in a retail setting, you would have the same markup and resulting profit regardless of the "plan" you are in.

    My feeling is that MLMs make a handful of people wealthy at the expense of those lower in the ranks. That is why I recommend against joining them. If you're reading this article, it's highly likely you want to improve your life... wealth included. Invest, sell good quality products, license ideas... but skip the MLMs.

    If you ask me, MLM simply means Make Life Miserable. Now who wants that?

    Until next week all the best!

    Rasheed Ali (#1 Adversity Consultant) and Bill White (Syncronicity Expert) have just launched -- a powerful new success and wealth creation website and -- a powerful business and success coaching site.

    Understanding The MLM Business Plan

    Understanding The MLM Business Plan By Shaunta Pleasant

    There are many types of businesses out there, but one of the most enduring has been the mlm business plan.

    There are certainly a number of people who have enjoyed great levels of success with such a business, but it is important to choose carefully from among the many different mlm business plans that are out there.

    ==Solicit Independent And Unbiased Advice==

    It is important to evaluate each mlm opportunity just as you would evaluate any other type of business, and not simply take the word of those who have preceded you into the business.

    After all, these people may have a vested interest in the mlm business plan, and it is important to solicit independent and unbiased advice in order to make a truly informed decision.

    ==Gathering Information==

    While the process of properly evaluating an mlm business plan can be sometimes difficult, it is not as difficult as it used to be. Thanks to the power of the internet it is now possible to research virtually any business opportunity, whether it is an mlm business or not.

    In order to do enough research, however, it is very important to gather as much information as you can about the particular business opportunity you are evaluating.

    ==Checking The History Of The MLM Business Your Are Planning To Join==

    For instance, you will want to find out as much as you can about the history of the business, and its management staff. It is important to get the names of the president and other officers of the business, and to find out about their finances and their history.

    The more information you can gather on the mlm business, its products and its officers, the better able you will be to make an informed decision.

    It is also important to talk to others who have invested in the business, both at the top levels of the company and further down the line.

    Soliciting this type of first hand advice is one of the best ways to evaluate any business plan, whether it is an mlm business plan or not.

    Shaunta Pleasant is a professional web writer and editor on business plan topics. Visit my site to learn more about writing a business plan at

    The Secret to Network Marketing Success

    The Secret to Network Marketing Success By Chris Rohrer

    Many people have tried program after program in hopes of building their dream business. The fact is, 99% of these people fail. I have personally tried Quixstar, Market America, Amway and Liberty Alliance only to find out that it was extremely difficult to convince people of the business idea. So the questions then becomes how does one become successful in multi-level-marketing?

    The reason for the 99% failure rate is that people do not have the knowledge they need to start their own network marketing business. One key factor is the product or products available. Simply put, the product is what drives your business. It’s essential to have a product that is in demand or a product that can generate money on its own. For example, skin care products cannot generate money on their own. The consumer would have to resell the skin care products to generate any kind of profit. However, if the product were to be a guide on how to trade e-currency, the consumer could then use the product to make money trading e-currency and resell the e-currency guide to his or her clients.

    When people start out in network marketing, they initially try to get their friends, family, relatives and co-works to join their program. Though it’s possible to persuade a few to join, this is a big mistake. Unless your friends and family are expert marketers and entrepreneurs you may be wasting your time. Targeting people that are business savvy and that may have already seen success in another program is a good place to start.

    Now that we have established a product or program, we must target an audience. Thinking outside of the box is what has enabled a lot of people to achieve their desired incomes through network marketing. Not only do you want the business savvy people in your down line, but you also want the people who share common goals and ideas. For example, try to target people wanting to get out of credit card debt, or who want to remodel their home, take a trip or need some extra cash. You will be surprised how many people seeking to get out of credit card debt are prime candidates for recruitment.

    It’s now time to launch an internet marketing campaign for your new business or product. The internet is a powerful marketing tool to use when it comes to finding people to join your business. The most cost effective way to drive targeted traffic to your website or affiliate link is to write articles with your link attached and submit them to article directories. Secondly, look into pay per click search engines. Both methods if used correctly are extremely effective when it comes to getting your opportunity in front of the right people.

    Finding a product that can generate money and easy to resell is key. There are a lot of programs and products online that will promise both, however only a few of them actually work.

    Chris Rohrer is an established writer and home business owner. Chris Rohrer makes it easy for anyone wishing to start their own home business and begin networking right away.