When it really comes down to it at the end of the day, YOU are ultimately responsible for your own success or failure. Not your job, not your boss, not your company, not your upline, not your parents, not the system, not the economy, not the government, not your downline. YOU I think thats a major reason most people are scared off of the entrepreneurial path. A great way to get around this fear is to develop your skills to the point where you have several streams of income which are independent of each other. This way if something should happen to one of them, the others are still there producing and you wont be stuck at zero cash flow. This multiple streams of income idea is not to say someone should have multiple streams within an asset class (specifically within MLM, building one is hard enough for the average person. Building more than one isnt duplicatable) Heres a great plan for most... Stream 1: A full time job (highest taxes income) Stream 2: A part time network marketing business with a reputable proven company. A major reason this is Stream 2 is to offset the tax liability of Stream 1. Once Stream 2 is twice stream one AND you have 3-6 months worth of expenses in savings it may be time to drop Stream 1. Stream 3: real estate rental property. Paid for by Stream 2 so now you have residual income generating more cash flow and acquiring equity to help expand Stream 3. Stream 4: Stocks and/or precious metals. Just imagine having enough passive/residual income that it didnt matter what you did with your time and youd get paid regardless. What would you do then?
Posted on: Mon, 12 Jan 2015 17:32:19 +0000
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