Residual Income Benefits - Why You Need to Create Passive Income Streams

It is important to learn how to create residual income as there is a limit as to how hard you can work and also if you want to have more time to do the things you really want to do in life then working hard to create passive income streams is a good way to free up time. There are many ways to generate passive income, the most common approach is through network marketing. You have probably been approached at some point or another by someone trying to get you involved in some mlm program. The truth is that many of them are indeed legitimate however you should understand that network marketing is a long term business so you must give yourself two to five years to build a large enough network that will bring you enough money to live comfortably on.Patience is key:Do not expect to make significant money in the first year in any network marketing opportunity since most legitimate MLM opportunities start paying a lot of money once you start getting duplication in your network which can take at least a year. Remember also that network marketing is a numbers game so do not sit on any particular member in your downline and hope that they will bring in tons of new people. At the same time you do not want to build someone else's network for the either even if they are in your downline, instead go as wide as you can and offer coaching and support to teach your downline how to do the same.Your goal is to find leaders in your network and the unfortunate truth is that most people you bring into any network marketing opportunity are not leaders. Some may develop into leaders in time whilst others will not. Keep bringing in as many people as possible and the law of averages says that some of them will be leaders or become leaders and top marketers soon. You do not want your downline to rely on you all the time, instead always refer them to a simple system that is duplicatable and easy to follow as that is the key to getting a network that grows by itself without much work on your part.