In chapter two of the book Business Quadrant Wealthflow Theory, I discussed the concept of passive income business. As a reminder, it is a business that does not require your material participation before you earn. The 5% people that make it in network marketing built it as passive income business.
Network marketing companies that focus on passive income put more emphasis on recruitment. Their compensation plan reward distributors more for number of people they recruit rather than product sales. In the business quadrants, passive income business falls on the right side of the quadrants.
Many people who join network marketing dream of making it to the top five percent who become wealthy. However, only a few of them are willing to make the sacrifice to get there. Your ability to build a network marketing passive income business will determine if you succeed or not in creating wealth.
There are two scenarios where network marketing function as a passive income business.
#1 Network Marketing As Passive Income Home Business
This is represented by the top right quadrant of the business quadrants, Q3. As discussed in chapter three, your ultimate goal in business is to build a passive income business. The same should be the case with network marketing. There are two situations that describe those who fall in this quadrant.
- If you setup a training center in your home
- If you run online training platform from home
#2 Network Marketing As Passive Income Office Business
As discussed in chapter two, passive income office business is any business you work outside of your home that produces passive income. This is represented by the fourth quarter of the business quadrant Q4. There are three scenarios that describe people who fall in this quadrant.
- The first scenario is if you own a training center outside of your home
- If you use outside venue
- Start a network marketing company
Truth be told, many who enter into network marketing business do so with the wrong motive. They think network marketing is a business for the lazy people. They join, hide under their upline and expect the magic. Think of how to utilize the business quadrants wealthflow theory if you have tried and fail or if you are just considering the opportunity.
If you are currently unemployed, you may have to start with network marketing active income business. When you have raised some money, think of how to use part of the retail profit you are making to build the passive income aspect of your business.
If you currently have an active income job or small business, use part of the income to build a network marketing passive income business. Study carefully how to apply the business quadrant golden rule of wealth to network marketing. If you plan your approach properly, you may start earning enough income to quit your job.
Find the right network marketing company, launch and build your network marketing business.
Once you have chosen your opportunity, stick to a plan. Give it time. Don’t think you’re going to be rich in six months, because you won’t. Exercise patience. Focus on your skills. Work hard. Stay consistent. And…don’t take things personally.
This post is an excerpts from chapter nine of the Business Quadrants Wealthflow Theory. Pre-register now for updates on the full version launching on June 26, 2017. You will receive a copy of the Free Edition (First three chapters) and get access to the launch price promo and other incentives. To pre-register visit BQWT Amazon Launch Update.
Latest posts by Jetro Olowole (see all)
- Income Tutors Network Marketing Boothcamp in Lagos - August 13, 2017
- Income Tutors Wealth Summit – Pre-Register Now! - August 5, 2017
- 30 Reasons Why Nigeria Network Marketers Fail - July 30, 2017