Network Marketing. Residual Income Versus Linear Income

Network marketing is a home-based business and you do not need a high investment to starts one. There is no risk involved except your time and effort.

Word of mouth advertising

Every day you are being bombarded with network marketing at work. Someone has just told you about how great the food is at one of the new restaurant in town; you tell your friends how great was about a movie, all these are being spread via word of mouth. Unconsciously, you are doing the restaurant and the cinemas a free advertising service. It is a form of marketing where the product or service is move directly from the producer to the consumer via word of mouth.

Get paid for talking?

But in network marketing you are being paid for doing this on a basis of a residual income. Is it not great?

One-time job

Residual income in network marketing is income you can earn continuously from your customers and those customers of your down-line whenever they purchased the company’s products. The best part is this residual income results from only one time effort in your marketing efforts for these products and services.

One-time commission

Linear income is the opposite of residual income whereby you are only able to make a one-time income out of a sale of a product or a service. For example, when you sell a car, you only get a commission once. There is no recurring income as compared with that of network marketing. Even if the customer would have bought another car, the agent would only receive a one-time commission for the new purchase.

In network marketing a customer who bought your products or services will continue buying from you if they like it and you keep earning recurring income based on only one time effort of yours of making him your customers.

Time=money

If you are a 9 to 5 guy working for a salary every month, you are only earning a linear income. It is best described as you are exchanging your time with money. If you stopped working, your income stopped with you.

Just duplicate

In network marketing you need to prospect and make them join your network as a business builder only once. After that he will duplicate and prospect people to join them as their down- line business builder or just become their customers.

Go viral

You may want to know how viral it can be to earn a residual income when you see how a software developer does it. For example, if you could create an anti-virus product that every computer users needs to protect their computers every time they goes online, and you will get the picture of how much residual income you will be getting by just creating the product only once. You just have to duplicate it and sell and you will see your money rolling in without much effort because the initial task of making the product is already done.

Utilizing Social Media for Business Networking

Social networks have opened up a world of new networking possibilities. Networking in person is still critical, but social media has added a new dimension to networking online. With social networks such as Facebook, Twitter, and LinkedIn, you can find and engage people on a new level. Whether they’re in an office down the street or across the globe, each and every person with Internet access is a potential contact. Reaching out to people is simple and can lead to extremely fruitful relationships.

Build up your profiles and develop connections. First and foremost, determine which social media outlets you want to utilize and complete each profile fully. Make sure that your information is consistent across profiles and that you keep these profiles accurate and up to date. Also, check that there is nothing on your profiles that could be construed as inappropriate. This is a prevalent mistake due to the nature of social media in that people use it for personal and professional purposes simultaneously. The major names, such as Facebook, Twitter, LinkedIn, and Google+, are each valuable in their own ways, and there are numerous other social networks out there, including industry-specific ones. Select those communities that are best for you and those that your target audience is using. Social networks provide the ability to locate people efficiently. Search for classmates, past coworkers, old acquaintances, friends, and family members. This way, you can harness the connections you have made throughout your life as you move forward in your use of social media. These people are likely to have a wide array of diverse experiences, interests, areas of expertise, and sets of their own connections. This can be very helpful in the future.

Then, utilize the functionality of social networks to research industries and discover people to connect with. Their profiles will provide useful information, so utilize what is available to you to create succinct, personal communications. These communications should clearly highlight your desire to connect and your willingness to help them rather than your own needs and requests. Start out slow and do not be too aggressive. Otherwise, you may turn people off before you even have a conversation.

Actively engage and interact with your connections on a regular basis. Being present on social networks will not do you much good if you never use them. Share articles, reply to tweets and posts, and in general, demonstrate that you are an active player in your field so that people will recognize your credibility. There are various forums in which you can participate, such as The National Association of Distinguished Professionals’ online networking resource. Sharing relevant posts will add value so that people will see you as informative and knowledgeable. If you are networking from a job search standpoint, this shows potential employers that you are genuinely interested and passionate.

Be yourself on social media. While you do need to be professional, this does not mean you need to strip yourself of your personality; rather, let this personality shine so that you will make connections that will turn into ongoing relationships. If you balance your personality with your professional goals and are genuine about it, people will be more inclined to connect with you, since you have demonstrated that you are a real person with both personal and professional value.

Social media is a critical part of the digital age, and this trend is only accelerating. In order to boost your networking success, harness the power of social media and you will find yourself with a constantly expanding network that will foster personal and professional growth.