Home » Business » Business Opportunities

The Benefits Of Creating A Residual Income From Home

Jackie Khor
May 23, 2008
Many people decided to pursue an additional source of income on a home based business in the Health and Wellness industry. They will learn about the best win-win opportunity to create a financial security for themselves and their families which is something vital in this time of era. This kind of professional career and business is taking off because they offer the following benefits:

1 Financial Freedom
It offers you another stream of income flowing into your life on an ongoing basis so that you can fulfill your desires such as having a new home or car, holidays and travel, children's education, caring for aged parents, quality retirement, etc.

2 Time Freedom
Time to spend as you wish instead of working at a job or running a business from dawn till dusk for the best years of your life.

3 Good Health
Have vitality, good health and well-being.

If just one of the above components is missing, it will impact the quality of your life. For example, if you have plenty of time and money but poor health, you can't enjoy life to its fullest. If you don't have enough savings to go through your retirement, you may be prevented from being able to have and to do certain things in life.

Think about it. Can Life Be Better? What will you be doing differently today if time and money are of no object?

The Wealth Crisis
According to the latest statistics, the average Australian will be in retirement for at least 25 years. Yet, only 5% will be financially independent by age 65. The remaining 95% will be deceased, still working part-time to make ends meet or broke on the pension.

Fact: You will either be among the top 5% or the remaining 95%.

Many people are ill-prepared for retirement. Most underestimate the amount of savings they require to live comfortably in their golden years. As life expectancies continue to improve, and costs continue to rise, there is a real concern that the superannuation nest-egg alone will not be sufficient for most, in their old age, to maintain the lifestyle they are accustomed to.

There is a saying that by the time you can have your superannuation fund, its purchasing power has been reduced by inflation to about 20% of what you can buy today.

The solution is not to save more (although that's a good piece of advice), but to earn multiple streams of income.

There are smarter ways to earn:
1. Leverage Your Income
There are many ways to earn money. You can work alone, or you can work with others as a team helping each other. Straight salary is linear income. It does not matter whether you are a doctor, dentist, lawyer, accountant, engineer, teacher, or whatever you get paid by the hour for only when you work. No work, no pay.

Worse still, nowadays, more and more high paying jobs will be performance-based. This means bonus which consists of a fair portion of the total remuneration is only payable if what you agreed to deliver has been delivered on time, not how many hours you spend on the job. As a result, long hours and stress are quite common.

Professionals and employees trade their own time and effort for money. But there is a limit to how much wealth one can accumulate this way.

The best way is to earn residual income which is income that keeps flowing to you even when you are not working like copyrights created by authors, pop artists and successful network marketers.

Most multi-millionaires use leveraging in one form or another to generate wealth. They understand that the combined time and effort of many people always offer a much bigger income potential than what one can earn alone.

2. Create A Residual Income Stream
Workers get paid each hour, each fortnight, or each month that they provide a service.

Smart people continue to earn into the future, based in part on initial efforts. This residual value gives them not only the money, but the time freedom to enjoy it too.

Despite prejudices and misinformation, the Health and Wellness network marketing industry has grown to over USD 100 billion in revenue. The ageing of baby boomers; X and Y Generation who place more emphasis on balanced lifestyle/family than that of their parents will lead to a boom in the health and wellness industry.

The so-called "baby boomer" generation is now in their forties to sixties. Many are at the height of their earning and spending power. They make up about one-third of the population and account for about two-thirds of spending. Thus, knowing which industries the baby boomers are supporting is a key to financial success.

Two of the most powerful economic trends of today are:
1)Health & Nutrition
Health and nutrition is one of the biggest economic trends of our time. According to Money Magazines, the nutrition industry is the mother of all trends.

"When I look forward to the year 2010, I see a clear one trillion dollar business just in the growth of the existing products and services in the wellness industry" Paul Zane Pilzer, World-renowned economist and trend-forecaster

Why is health & nutrition set for explosive growth?

People are more aware of the role supplementation plays in optimizing long-term health. Hence the number of people seeking quality products to maintain good health is growing rapidly.

2)Network/Relationship Marketing
Relationship marketing is growing in prominence. It is a degree level subject taught at some of the most reputable universities in the world today including Harvard University and the University of Southern California.

Two highly respected professionals, Dr Charles King and James Robinson have co-authored a book "The New Professionals and The Rise of Network Marketing as the Next Major Profession", which provides valuable insights to this industry. Dr King is a Professor of Marketing at the University of Illinois and Mr. Robinson is former Senior Vice-President of the U.S. Chamber of Commerce.

Why is Network Marketing set for explosive growth?

More and more companies are now turning to network marketing as a mean of distributing their products as advertising and traditional distribution channels are getting more expensive. The more effective marketing system to retain loyal customers is through relationship marketing. However, companies can't do this by themselves. If they can do it, they don;t need you. Therefore, they need you to distribute their products through relationship network marketing.

A good network marketing company can provide ordinary people a legitimate home-based business that builds income with excellent leverage and residual value. The smart ones are joining companies in the Health and Nutrition industry, and the even smarter ones are joining the best companies in the Health and Nutrition industry's companies that have good reputation in their products and are likely to be around for a long, long time. Some companies allow you to pass the legacy of your business to your benefactors.

Here are some points to consider on how to choose a good network marketing company:

1 A Company That Has An Unquestioned Devotion to Quality
At the end of the day, you get pay commissions only when sales are made. Thus, you would only want to get in a company that offers products which are formulated and manufactured to standards that exceed many nutritional products on the market and they work. Repeat sales is what give you leverage. So, you want your customers to buy the products month in month out and that only happen if the products work. Better still you see whether many doctors, health professionals and world class athletes that can trust their health to the products.

2 The company's forward growth potential
What is the company's strategic growth plan and its policies? It pays to join a company that pays you on sales volume generated worldwide in a single, seamless commission plan so that when different countries open, and others to come on-stream, it offers you to build business internationally.

3 A Global family that cares
Nowadays, people are drawn to a company's dedication to a worthy cause and not just making profits for the stakeholders. For example, CEO of Usana Health Sciences, Dr Myron Wentz, has a passionate dream of "A world free from suffering, live life to its fullest" that leads him to establish the state-of-the-art Sanoviv Medical Institute in Baja, Mexico, as well as the Wentz medical Centre for children in Gaba, Uganda.

He also has a passion to help children in need. He has donated millions to the Children's Hunger Fund since 2001. Through these donations, children in many poor areas of the world receive food, health and love.

4 A Pay Plan that builds real residual income
Many network marketing opportunities pay a lot to the fortunate few at the top of the hierarchy, and set high demands that the average person has little chance of attaining. Make sure to find the one that has the 'best match' for you that you can attain.

5 An enviable record of financial strength
Choose a company that will be there for many years to come knowing that the company has the resources to pay you true residual income. Otherwise all your hard work will go down the drain.

Health is Wealth

Nutritional supplement company provides your body with the nutrients required for optimum health.

Health is wealth to the sick. Thus, the cost of the products is insignificant when compared to the benefits it generally provides, including the following:

1. Improved health and well-being

2. Counteracting free-radicals in your body

3. Provide possible relief from an existing problem

4. Cash savings as you no longer need to consume other nutritional products and possibility reduce medications

5. Ability to work and earn an income more efficiently due to improved health and well-being.

Money is Wealth

The company provides you with an opportunity to become financially secure. All you need to do is introduce others to the company's products.

With some initiative and effort you can generate an income stream to supplement or replace your salary from full-time employment. As the alternate health industry is growing rapidly, this means more and more people are taking preventative measures to protect their health.

In summary, you can't lose even if you are not interested in a work at home business in a relationship marketing in the health industry. At worst, you will improve your own health and that of your loved ones. At best case scenario is that you will improve your own health and that of your loved ones and generate another stream of income for yourself while spreading health and wealth to others.
About the Author
Jackie Khor is a leader in Network Marketing. She is best known for her down-to-earth, no-nonsense training. Get your FREE 10-Day email Boot Camp on at WorkAtHomeBusiness

Free videos on how to generate your own leads and set up business on the internet at Generate Your Own Free Leads
Please Rate:
(Average: Not rated)
Views: 428
Print Email Report Share
Article Categories