Residual income is an income that continues to come in long after you have done the work.

A great example of residual income would be the kind of income an entertainer would continue to receive from the creation of a song that continues to sell and play on the radio, or the kind of income an author would receive from the ongoing sales of a best selling book. Some authors continue to get paid again and again for many years after they have put in the work to write their best seller

Residual income is also sometimes called “passive” income because after you have put in the work and effort to create it there is no longer any time and effort required to continue receiving the income.

Is it really possible to create residual income from building a network marketing business?

Yes, without a doubt it is, especially when you have built an organization that continues to move a product that has repeat customers for years and years.

Being in the network marketing industry for over twenty years and I have seen some companies that are not that great and I’ve been very blessed to work with some of the best companies in the industry.

A network marketing business is easier to build today than it ever has been. With the kind of tools we have available today anyone with a phone and an internet connection can certainly build a serious residual income with network marketing.

So what does it take to create an ongoing residual income in network marketing?

I always like to say attitude equals altitude. What exactly do I mean by that? What I mean is it is the attitude that you approach your business with that will determine if you will succeed or fail.

Network marketing is not a get rich quick opportunity. It never has been and it never was intended to be. It is however the best opportunity for the average person to create a very real ongoing passive income although it will take time, effort and energy.

One of the most important ingredients is finding the right team of people to work with. Many people never find the right coaches and mentors to work with, therefore they never really get the training and support they need to succeed in this industry. Find a team of people that you can work with that also have a track record of success in the industry and are willing to invest the time into helping you learn the ropes in this industry.

You also need to have a product line that is not a fad or something that is here today gone tomorrow. Like so many of the product lines that you see introduced in this industry. It is important to be able to market a product for which there is already an existing market for. In other words it is not something that nobody has ever heard of or the latest greatest improvement in the health and nutrition industry, or the latest thing in weight loss. There is nothing wrong with those products you just need to realize that those products represent a very small and specialized niche in the marketplace.

Personally I prefer services over products. Products have to be inventoried and shipped whereas services are usually provided by a company that also provides customer service and of course there is no inventory or shipping.

When you find services that are essential, meaning services that people continue to use month after month, and they are services that most people are not willing to live without such as electricity or telephone service maybe even health care. You may have just found the jackpot. That is if and only if, you are willing to put in the time, effort and energy to build your business.

Author: Rick Weitl

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10. Procrastination
Procrastination is truly a killer in the network marketing industry. You must be able to be consistent with your content and quick to follow-up with your prospects. By doing these things, it adds credibility to your business. Your prospects or customers will see that you have a system in place, and that you bring real value to the table.

9. Purchase all those great marketing tools and resources
Copywriting is a skill. All of those great advertisements are written by professionals. They are written to appeal to your emotions and cause you to do exactly what they want you to do – Buy Something that they are selling.  There’s absolutely nothing wrong with buy marketing materials, but watch your spending. Overspending or negligent spending could lead to debt, which could spell the end to your network marketing business.

8. Do not use all those great tools and resources you purchased
If you buy it, use it! It’s that simple. Don’t buy things just to say, I have over 300 hours of marketing videos, but no one can tell by the content you produce and marketing systems you use. If ou are in a MLM company, take advantage of the materials they provide to you. Use that information to develop yourself, which will ultimately do wonders for you in the future.

7. Create horrible content or none at all
The value in your content will determine the type of prospects you receive. If you want tire kickers, produce week and invaluable content. If you want Pre-interested prospects, you need to create continent that will inform, educate and/or provide a solution to the problems your prospects are facing. Doing it the right way will brand you as an expert. Your prospects will be kicking the door down for a chance to work with you.

While we are talking about value, let me take a moment and share with you a little secret I just learned. One of my mentors, a well respected marketing strategist in this industry, conducted a training call a few days ago. On this call, he explained how he went from being Larry the Cable Guy to becoming one of the top earners in his primary business. He did this in less than 6 months. How? By providing value through great content. If you would like to get a copy of this video presentation and learn the simple strategy he used to get upwards of 50 leads per day, please visit the following link: << Larry the Cable Guy Reveals a Secret Strategy to Receive up to 50 Leads Per Day Without Spending a Dime >> It will be well worth your time to learn this simple strategy.

6. Do nothing to develop yourself – No skills mastered
If you have followed me for a while, you will know that I always stress the importance of educating yourself and mastering new skills. I write about this indepth in my e-book, The L3 Formula for Success. Being in this business for a while, I understand the advantages of developing yourself. You brand yourself and stand out from the crowd. You have more value to give others. You become the expert in your particular market.

I do not know everything about this industry, and that is why I continue to learn. Each day I work on skills that I need to improve. For instance, this blog is a skill and it is something I neglected for a long time. One reason, I was focused on other parts of my business. Another reason, I was not very good at it. Just recently I started to work with some of the best bloggers on the NET, and I have been developing myself towards becoming a Master Blogger. I am far off from getting there; However, each day, each new post, and all the feedback I get from my mentors/coaches and supporters will help me to master this skill.

Do not settle for mediocrity.. Shoot for Excellence!

5. SPAM Facebook, Twitter, MySpace and other social networking sites

I actually will not go too in-depth on this particular item. If you have been on Facebook and Twitter, I am sure you know what I am referring to here. Also, I wrote a squidoo article explaining my personal Twitter experience. The article is entitled, How to Improve Your Business Relationship. If you are having a hard time connecting with people or you are one that “may be” using social networking sites inappropriately, you may want to review this article.

4. Do not create a marketing strategy
Many experts say that you should learn how to market before you get too involved in your network marketing business. Why? Because you need to know how you will reach your targeted audience. You will also need to know how much money you have available to accomplish this. Some strategies are better than others, but if you do not take the time to plan it out, you will never know this. Not having a plan, like me in the past, could spell disaster for your business.

3. Do not seek the assistance of your upline leaders, mentors or coaches
Crucial to the growth and development of your business, you need to seek the advice of those that have already experienced success in this industry. Align yourself with them, learn from them and follow what they are doing.

It was difficult for me to reach out to people because I was not used to seeking anyone assistance. I have always done things on my own. When I was in the military, I spent 20 years working in a vaulted room without windows, most of time working alone on projects. I was accustomed to this. I was like this even before I joined the military.

Coming into network marketing, I had to change the way I previously conducted business. I had to ask for help. It took me a while to realize this, more than 11 years in fact.

I now have several mentors and coaches that I consult with often. The result? I have been doing really well in this industry since making that change.

2. Move from opportunity to opportunity
Join a business and stick with it.. Bottomline. You will never get anything out of joining hundreds of opportunities or jumping on every opportunity that is launched. Besides, it’s really not the business that makes the difference, it’s YOU. You can make the same income in Alpha Travel LLC as you could in Bravo Nutritional Supplements Inc. If you develop yourself, you will be able to attract prospects, which will lead to enrollment into your primary business. So, pick a business that meets your values and beliefs, and put everything you got into building your team.

And the number one way to absolutely fail at network marketing.. Drum roll please..

1. Quit
Plan and simple, you will never succeed if you give up on yourself and your dreams. Take it from me, I have quit this business numerous times. Initially it was because I did not believe MLM was a legitimate business. I saw a lot of SCAMS, I had been SCAMMED a few times.

I did not feel comfortable with marketing products for some of the companies that I sponsored. It took me a while to come to grips with this. Once I started to meet people that shared my same beliefs, I realized that it was not the industry that was at fault, it was some of the people and companies in the industry. I have since devoted myself to changing the bad perception people have of this great industry.

I have also quit MLM opportunities because I failed to utilize my support system. I let the business overcome me to a point that I could not handle it on my own. Do not let this happen to you. Reach out to someone and let them help you get back on track.

You will fail in network marketing, we have all failed at it. However, the items mention in this top 1o list can be avoided. Don’t make the same mistakes I have made in the past. These mistakes have cost me hundreds of thousands of dollars and lost time.

If you are nearing a point where you want to give up, consider this: Network marking creates more millionaires than any other industry out there. If you want to make it big in this industry, find the right people, seek their assistance, and take the time to develop yourself. It could take you 3-months, 12-months, or even a couple years to meet your goals. The key is to never give up on you!

To Your Success,
Barry O. Canada

Want to work directly with Barry
and learn new marketing techniques
that will help you revolutionize your
primary business?

MLMLeadsMaker.com

I used to get a kick out of watching people sponsor a couple of distributors into their network marketing business and then fall into the management trap. Good Network marketing leadership is more than spending all of your time with a handful of distributors.

Today the Internet makes it possible for you to build a large network marketing business and still be an valuable leader at the same time. Here are a few ideas on how to do that.

1. Teach people skills they can use. I would suggest leaving the motivational speeches to Zig Ziglar or Brian Tracy.

If you really want to lead by example offer skills on how to use the Online to build a network marketing business today. Of course for you to be able to do this you must actually have Online marketing skills yourself.

Then when you come across something that is working you can pass that on to your group. You will be praised as an efficient leader who knows what they are talking about.

2. Show up on the leaderboard. Nothing beats leading by example! If you are on the leaderboard you are teaching your downline a lot without ever saying anything to them.

You brand yourself as an expert on the MLM business you are in and your credibility is enhanced. Then when you offer advice your downline will be more likely to take it.

3. Use your own products and tell everyone about them. Successful Network marketing businesses have a lot of products being moved through them on a consistent basis.

When you are using the products you can pass down reviews on them. Don’t be afraid to mix in the good and the bad as your downline will respect you more for doing that.

4. Don’t be a pest. You can be an useful leader without calling or emailing your downline every day.

As a matter of fact if you overdo it some people resent that. One of the best ways to consistently reach your downline is to use an autoresponder.

Many Network marketing companies today offer a contact manager which you can do that with. Just be careful not to cross promote other opportunities and you shouldn’t have any problem using it.

You might consider publishing a monthly newsletter full of useful Network marketing tips and how to make money. This is one way to stay in contact without seeming like you are bugging your downline.

These are a few tips on becoming a more effective MLM leader in the network marketing business today. If you treat people the way you want to be treated, and offer helpful and timely tips, you will become a respected Network marketing leader for your group!

Jeff Schuman invites you to visit his make money online website for his top pick as the #1 network marketing business.