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Leveraged Income Brings Home Business Success Easier
By Rallie | November 30, 2009
What is “leveraged” income you ask?
A lot of times you hear the word leverage when people talk about real estate investing. In real estate, you leverage other people’s money to buy 4 properties instead of just 1for example.
Instead of paying cash for only one property, you can break up that cash and LEVERAGE it into multiple properties.
Now, here is how this concept relates to your Online Business?
See, everyone has something they are selling online. A product, service or widget.
Now, if you were to market your widget using your own advertising budget… you’d only be able to reach a finite amount of people, right? Let’s say your budget for marketing your product is $500/month. That $500 can only buy you so many ads online.
Let’s say that $500 investment in advertising yields you $1,500 in sales.
That’s pretty good. You now have a consistent $1,000 a month coming in
from your efforts. If you’re happy with that kind of return then great.
But if you’re looking to make the really substantial money that I think you are…
say $10K+ a month…Here is how to “fast track” your way to the top.
LEVERAGE other people and build an army of salespeople below you and share in their revenues.
Just like pharmaceutical sales… there’s a top manager, and he trains a group of
salespersons to go out and hit up every doctor in the region. And, guess what… he also gets a share of all the revenue his sales rep team generates!
This is leveraged income in its purest form.
Here’s how it applies to your Online Business.… start looking for programs and products that pay you on the efforts of people in your team (below you).
Imagine having 100 people working hard every month to bring in new business and you get a piece of every sale!
Have you ever heard this quote? “I would rather earn 1% off of 100 people’s efforts than 100% of mu own efforts.”
And guess who said it… one of the richest people in American history…John D. Rockefeller
Do you think he was on to something? This is the concept that more online gurus have based all their online ventures around.
You need to think how to leverage the efforts of others to build your online business. This also applies to Network Marketing. MLM business is based on recruiting other, and the bigger you downline the more money you make, provided you have or the company has provided the right training.
Since the company I first joined didn’t provide Internet Marketing training I joined Renegade University in March of 2008 to learn Internet Attraction Marketing. Since Oct 2008, I’ve been a Super Guide with Renegade, and guide others through the training.
So if your success comes from recruiting others; whether your are an Internet Marketing or Network Marketing; you’ll need to learn to be a great coach. You want to have other duplicate what works, and to know how to recruit others also.
I’ve just started working on improving my coaching skill by enrolling in Coaching Cognition. I’ll be sharing my experience with you during the six month course. So what weekly report.
If you like to learn about Coaching Cognition go to Renegade Professional News
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