Creating an MLM Residual Income

The ultimate goal for most network marketers is to create an MLM residual income. Yet how come so many people are working so hard, for so little? Learn the three steps to a true MLM residual income and the tools you will need to make it happen.

Nobody starts an MLM business to slave away making small amounts of money for their effort. They join to train others to be successful and leverage their time to achieve the ultimate goal in MLM, Residual Income. So why is it so elusive for so many marketers? Why do those who are successful at making sales often struggle to make their monthly income residual? How can you be the exception?

1. MLM Residual Income=Inspiration not Duplication
Seeking duplication in MLM is a mistake that many marketers make. They may be willing to work hard, put in the time and effort needed for success, but often they find their team members are not. Part of the problem is that MLMers are trying to make their team members duplicate, or copy, their actions. They may have had success with Pay per click advertising and as they have simply relied on this one form of advertising it is the only one they are able to train their team to use. However people are different, many people start MLMs on their last dime and are unable to pay for advertising, others simply don't have the technical understanding to take on something like Pay per click. Each marketer will need to find their own way to market that suits them, as you will have only had experience with some types of marketing you need to be able to point your team members to high quality training in any type of marketing they may be interested in. You need to allow for them to do things their own way and you need to ensure that you can assist them in being successful through their own chosen methods. You need to inspire your team members to take action, but allow for it to be their own strategy and simply help them gain any knowledge they may need.

2. Providing Beneficial Tools
If MLM residual income is dependent on the success of your team members, you need to ensure they are fully set up for success no matter what their circumstances. They will need access to marketing sites, autoresponders and lead management systems, marketing training and tools to make their marketing more streamlined and efficient. And if you rely on them to figure this out your residual income could be a long time coming. When a new team member joins you, you need to have a clear and direct set of instructions for them to proceed in growing their business and gathering the knowledge they will need to be a success. Make sure they use the momentum created when they get started with you so they hit the ground running. It will be helpful if you have a straightforward list of the tools you use so they can simply set up their systems and get started.

Some tools to consider: An autoresponder system that allows them to own their own lists (i.e. not a company autoresponder), a lead management system, a website generator that they can tweak to suit their marketing, up-to-date marketing training in a variety of marketing tactics, marketing tools for their preferred marketing strategy (i.e. for Pay-per-click a good keyword research tool to help them leverage their time.)

3. Multiple Streams of Income
If you are truly seeking a residual income it is important to remember that you need to create that income from multiple sources. If you rely solely on one source of income you can get burned, suddenly your company changes or shuts down and your entire income you have worked to build can be gone overnight. Also, in MLM you don't typically make big amounts of money at the start. You have to build your team initially before you start to make money off of other people's efforts, and while building the foundation of your business you are at great risk of running out of money. You need to find other sources of income so that you leverage your time and make more money from the efforts you are already making to market your business.

One of the best ways of doing this in the MLM industry is through a funded proposal. By providing not only your team, but your leads, with the knowledge of how to be successful in this business and also the tools necessary you can make an income even when people say no to your business. You can make affiliate commissions from any sales of the tools you recommend to your team and your leads. The most important thing to remember though is that these tools must be HIGH quality and provide excellent value. Your reputation with the people you come in contact with and their trust in you is far more important than making a quick buck.