“The No. 1 thing people can do to increase their wealth is to start a part-time business.”–Robert Kiyosaki
With companies downsizing, the dollar becoming weaker, and costs continuing to go higher, the need to earn more money has never been greater. It’s not very easy any longer to just work more hours or to get a second job. In fact, in most areas of the country, it nearly impossible to accomplish. The other option is to start a part-time business. You can start a small home based business, and Internet company, or a network marketing business. The key is to start small and learn everything you can about the business. On Friday, we discussed one of the key advantages a network marketing business is the personal development of it’s representatives.
Building a “B” quadrant business is not easy, so you first need to ask yourself, “Do I have what it takes?” Am I willing to get outside my comfort zone and pay a price? Am I willing to learn and be coached? Am I self-motivated? If you answer yes, then you need to look for an opportunity where they have a great training and personal development program. Like any business, there are a few characteristics that one should have to do network marketing. First and foremost, you have to have a strong desire to succeed and you have to have a take charge can-do attitude. It helps to be a social or people person.
Another strong advantage of having a home-based business is the increase in tax breaks. By starting a network marketing business in your spare time, you begin to gain some of the tax advantages of the rich. A person with a part-time business can take more tax deductions than employees can. For example, you can deduct car expenses, gasoline, some meals and entertainment, and possibly some portion of your mortgage and utility bills. Obviously, you would want to consult your tax professional for advice.
There is one requirement to start your path to financial freedom. Spend less than you make. That means for most of us, we either have to cut our expenses and our standard of living, or better yet, find a way to generate more income. One of the best ways for the majority of America to increase their income is through the network marketing industry.
“Network marketing provides a purely democratic, highly entrepreneurial, deeply authentic and simple model for successful living. In network marketing, your success or your failure is completely up to you.”–Michael Gerber
Have an awesome day.
