What Is Passive Income And Wealth Building?
Have you ever thought of keeping on ‘earning money while doing nothing’? Isn’t it a great idea? O yes, it is. All of us want to earn and keep on earning money in abundance without doing a job or work. Some people may feel this thing like a dream, not reality. But, it is quite possible. However, it needs a lot of intelligence, smart work, the right usage of time and energy, experience and knowledge, and a long journey, no doubt.
Today I’m going to talk about passive income and wealth building. There are two types of income: active, and passive. Active income needs you to keep on working constantly like a regular 9-5 job. If you are jobless or fired from the job, unluckily, you will stop getting paychecks. No work; no paycheck. It is that simple. On the other hand, passive income doesn’t need you to go to office daily and work for 6-8 hours.
So, how is it possible to have money in abundance and coming continuously while staying at home and having fun? For this type of income, you need to build assets and wealth, like:
- Purchase a property, plaza/shop/mall etc. and rent it out. You will get a handsome amount of rent money every month.
- Set up a gym, beauty salon, wellness club etc. and hire a team of professionals to run it. Your team will work and earn for you.
- If you have writing talent and can write good books, you can earn money with this talent. Once you write a book, you will keep on earning the royalty as long as the book is on sale. Amazon online book store gives you an opportunity to publish your book there free of cost.
These are a few ideas for earning passive income. But the ideas of purchasing a property and setting up a gym/beauty salon/wellness club needs a great investment. And the idea of book writing requires a great writing talent. Investment and writing capability is not possessed by all of us. Therefore, all the three ideas are not possible for everyone. So, how can you earn passive income and build wealth?
One of the easiest and the most feasible ways of building wealth and assets, and creating a source of passive income is to join a Direct Sales and Network Marketing company.
First of all, let me give you the idea what Direct Sales and Network Marketing companies are:
A direct sales company sells its products through individual distributors. It has authorized shop/dealers to run the business. Its products are not available on retail stores and common shops. You won’t see any type of advertisement of the company and products on media. If you want to have their product(s), you need to join them as distributor or purchase through any authorized distributor. That’s why, it is called direct sales company.
You join such a company through a distributor who performs as a ‘sponsor’ for you. He/she introduces you to the system and products, and you join as his/her ‘downline’ or ‘network’. An authorized distributor can spread his/her network to thousands of people by sponsoring them. When you join a company under one’s sponsorship, you too become an authorized distributor. Then you also invite new people for purchasing company’s products and join it also. The bigger the network grows; the more you and the company earn. If you have an initial network of three people, they will make their network of three persons each. That way, you all will grow. Each of the individual distributor will get his/her own profit as well as a fixed chunk of the sales done by the ‘downline’. That’s why, it is called a network marketing company. Generally, all the companies in this category work on both the models: direct sales and network marketing.
If you want to join such a company, first of all, do research about the Network Marketing companies in your state/country. Have answers of these questions first of all.
- Which field you like the most and the feasible one for you? Like there are the fields of health, food, fashion accessories and cosmetics, electronics etc.
- How much time can you spare for it like a few hours daily or weekends only?
- What skills and right strategy do you need to achieve success in the respective field?
- What talent and characteristics you already possess and can polish to help you in the work, for example, do you have presentation and communication skills?
- What products you are excited about; you need and want to use yourself?
- Are the products beneficial and interesting enough to persuade common people to use them?
- How much time you need to start earning, a few months or more than a year for example?
- What is the company’s compensation plan? How much can you earn on monthly basis?
Don’t forget to check out the rules and regulations of the company you want to join. This is very much necessary for avoiding any misconduct and breach of rules.
21st century is called the century of Direct Sales and Network Marketing business. The beauty of this business is that it doesn’t need a business administration degree, huge investment, and hiring an office building etc. It just needs determination, a burning desire for freedom of money and time, willingness to learn new things, and a strong will power to do anything to achieve success. Direct Sales and Network Marketing companies give you training which won’t be free of cost. This training is going to let you know how to work as a distributor and develop a network.
Around the world, there are hundreds of Direct Sales and Network Marketing companies. Some are working on country level and some on international level also, allowing any person of any creed, color, religion, and nationality to join. This is declared a superb source of passive income and wealth building. A few of the initial years are tough but after that, you have to do nothing. Money will automatically come to you.
If you want to have a great source of passive income, join a Direct Sales and Network Marketing company in your area.