What is passive income and wealth creation?

Have you ever thought about continuing to ‘earn money doing nothing’? Isn’t that a great idea? Oh yes, it is. We all want to earn and continue to earn money in abundance without doing a job or a job. Some people may feel this as a dream, not reality. But, it is very possible. However, you need a lot of intelligence, smart work, the right use of time and energy, experience and knowledge, and a long journey, no doubt.

Today I am going to talk about passive income and wealth building. There are two types of income: active and passive. Active income needs you to keep working consistently like a normal 9 to 5 job. If you are unemployed or laid off from your job, unfortunately, you will stop getting paychecks. No work; unpaid It’s that simple. On the other hand, passive income does not require you to go to the office every day and work 6-8 hours.

So how is it possible to have money in abundance and come continuously while staying home and having fun? For this type of income, you need to build assets and wealth, such as:

• Buy a property, square / store / shopping center, etc. and rent it. You will get a good amount of rent money every month.

• Set up a gym, beauty salon, health club, etc. and hire a team of professionals to run it. Your team will work and win for you.

• If you have a talent for writing and can write good books, you can earn money with this talent. Once you write a book, you will continue to earn royalties as long as the book is for sale. Amazon’s online bookstore gives you the opportunity to publish your book there at no cost.

Here are some ideas for earning passive income. But the idea of ​​buying a property and setting up a gym/beauty salon/wellness club needs a huge investment. And the idea of ​​writing a book requires great writing talent. Not all of us possess the investment and writing skills. Therefore, the three ideas are not possible for everyone. So how can you earn passive income and build wealth?

One of the easiest and most feasible ways to build wealth and assets, and to create a source of passive income, is to join a Direct Sales and Network Marketing company.

First of all, let me give you an idea of ​​what Direct Selling and Network Marketing companies are:

A direct selling company sells its products through individual distributors. Has authorized stores/distributors to operate the business. Their products are not available in retail stores and common stores. You will not see any advertising of the company and products in the media. If you want to have their products, you must join them as a distributor or purchase through any authorized distributor. That is why it is called a direct selling company.

You join such a company through a distributor who acts as a “sponsor” for you. He/she introduces you to the system and products, and you join as their ‘downline’ or ‘network’. An authorized dealer can extend their network to thousands of people by sponsoring them. When you join a company under one’s sponsorship, you also become an authorized dealer. Then, it also invites new people to buy products from the company and join it too. The more 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 people each. That way, all of you will grow. Each of the individual distributors will earn their own profit as well as a fixed portion of the sales made by the ‘downline’. That is why it is called a network marketing company. Generally, all companies in this category work in both models: direct sales and network marketing.

If you want to join such a company, first of all do your research about network marketing companies in your state/country. Get answers to these questions first.

• What field do you like the most and the feasible one for you? As are the fields of health, food, fashion accessories and cosmetics, electronics, etc.

• How much time can you spend on it, like a few hours a day or just on weekends?

• What skills and correct strategy do you need to achieve success in the respective field?

• What talents and characteristics do you already possess that you can hone to help you on the job, for example, do you have presentation and communication skills?

• What products excite you; need and want to use yourself?

• Are the products beneficial and interesting enough to persuade ordinary people to use them?

• How much time do 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 monthly?

Don’t forget to check the rules and regulations of the company you want to join. This is very necessary to avoid any misconduct and breach of the rules.

The 21st century is called the century of direct sales and network marketing business. The beauty of this business is that you do not need a business administration degree, a huge investment and the hiring of an office building etc. You just need determination, a burning desire for freedom from money and time, a willingness to learn new things, and a strong willpower to do anything to achieve success. Direct selling and network marketing companies provide you with training that will not be free. This training will let you know how to work as a distributor and build a network.

Around the world, there are hundreds of direct sales and network marketing companies. Some are working at the country level and others at the international level as well, allowing anyone of any creed, colour, religion and nationality to join. This is declared an excellent source of passive income and wealth building. Some of the first few years are tough, but after that, you don’t have to do anything. The money will come to you automatically.

If you want to have a great source of passive income, join a direct sales and network marketing company in your area.