Residual Income

Generating a residual income from your mlm business is the ultimate goal for any network marketer. This means you are ready to leave your full time job and concentrate solely on your mlm business if you wish to. Generating income via your mlm business means that you have a decent customer base and have recruited members into your front-line who you have taught how to do the same. Building a serious residual income which enables you to quit your day job may take some time as with anything, however there are ways you can generate income other than just via your mlm business.

You will reach your financial goals a lot quicker if you have multiple income streams coming in. The traditional income streams you get in network marketing are:

• Retail Sales (selling product to customers at a profit)
• Team Bonus (bonus from your teams combined retail sales)
• Sponsoring new team members (bonus for recruiting)
• Profit share/Chairman's bonus (annual based on performance of your whole business, including front-line and down-line)

The above four are the most common types of way you get paid in any mlm business, there may be other caveats to this but in general these are the most common.

All of these income streams are viable and will start to earn you money so eventually you can sack your boss and become financially free and time free. However if made money through more than just your mlm business you would get there quicker right? Of course you would. Here are some of my top tips on creating an income quicker.

• Create your own niche web site or blog using a tool like Solo Build It or similar.
• Create great content that your visitors will love, over deliver to your visitors to have them returning.
• Follow and use the Solo Build It system to drive traffic to your site.
• Monetize your site in various ways: Google Adsense, Amazon Associate, DIY Affiliate links, Automated Affiliate Marketing, Banner Ads, Classified Ads.

By incorporating some of the above options into your website/blog, you will start to generate income through these multiple streams. The residual income you start to produce will increase as your traffic to your website/blog increases. Keep creating content and following the lessons taught by Solo Build It and the snowball effect will happen. Good luck.