Robert Kiyosaki in his book entitled "The Cashflow Quadrant" explains why some people work less, earn more, pay less in taxes, and are more financially secure than others. It becomes very clear why you should start a business if you want to take control of your destiny and become financially free.
If you are an employee or self-employed (like a medical doctor, dentist, accountant, consultant ect.) you always have to work for your money. When you are a successful business owner or an investor, you have your business or your money work for you. You have created a successful source of passive income and you could be financially independent. Passive income is an income received on a regular basis, with little effort required to maintain it as, for example, earnings from a business that does not require direct involvement from the owner or merchant. That means that you not only have money and choices in life, but also have time to enjoy it.
There are many types of business to consider. If you choose consulting or freelancing, you will be self- employed. The start-up costs are very low, but you still be exchanging your time for money and most of the time you will not achieve a passive income for yourself and your family.
If you have a hobby or some patent and you would like to build your home-based business based on it, it is great, but it is really very difficult. You need to create your own system, business plan and get financing. You will the CEO, CFO, marketer, accountant and manufacturer of your own business.
It is less risky to buy a franchise, but it can be very costly. The reason why the franchise businesses are more successful than other home-based businesses is the instant name recognition, proven success system and support.
Finally, there is a direct selling and network marketing business
Direct selling and Network Marketing business is NOT the same. Direct selling is a self-employed type of business where the person is working for the company and is paid commission for all successful sales.
Network Marketing, on the other hand, is the business where by building a consumer, sales and distribution network for the manufacturer, one is building a business that can bring a substantial passive or residual income for its owner. It is like building a large store and getting paid every time somebody buys something from your store. The critical point is to choose the right company with a right product at the right time and with a right support system. Network marketing is the best industry in the world. The start-up costs are minimal, you work it part-time around a job or other commitments and there is no financial risk to yourself or your family. You do not need to worry about warehousing of the products, overheads, product development, deliveries etc. You have no stock, no staff, and no premises. You just focus on the income producing activities. You will have a system and support. This is a really brilliant business.
If you are an employee or self-employed (like a medical doctor, dentist, accountant, consultant ect.) you always have to work for your money. When you are a successful business owner or an investor, you have your business or your money work for you. You have created a successful source of passive income and you could be financially independent. Passive income is an income received on a regular basis, with little effort required to maintain it as, for example, earnings from a business that does not require direct involvement from the owner or merchant. That means that you not only have money and choices in life, but also have time to enjoy it.
There are many types of business to consider. If you choose consulting or freelancing, you will be self- employed. The start-up costs are very low, but you still be exchanging your time for money and most of the time you will not achieve a passive income for yourself and your family.
If you have a hobby or some patent and you would like to build your home-based business based on it, it is great, but it is really very difficult. You need to create your own system, business plan and get financing. You will the CEO, CFO, marketer, accountant and manufacturer of your own business.
It is less risky to buy a franchise, but it can be very costly. The reason why the franchise businesses are more successful than other home-based businesses is the instant name recognition, proven success system and support.
Finally, there is a direct selling and network marketing business
Direct selling and Network Marketing business is NOT the same. Direct selling is a self-employed type of business where the person is working for the company and is paid commission for all successful sales.
Network Marketing, on the other hand, is the business where by building a consumer, sales and distribution network for the manufacturer, one is building a business that can bring a substantial passive or residual income for its owner. It is like building a large store and getting paid every time somebody buys something from your store. The critical point is to choose the right company with a right product at the right time and with a right support system. Network marketing is the best industry in the world. The start-up costs are minimal, you work it part-time around a job or other commitments and there is no financial risk to yourself or your family. You do not need to worry about warehousing of the products, overheads, product development, deliveries etc. You have no stock, no staff, and no premises. You just focus on the income producing activities. You will have a system and support. This is a really brilliant business.
About the Author:
Dr. Grazyna Pajunen is a researcher, a teacher, and a researcher in the area of Electrical Engineering. She is also a successful Real Estate investor and a Network Marketer. Recently she has used online network marketing strategies to her businesses. If you are interested to build a business to secure a passive income for you and your family CLICK HERE.. Free reprint available from: How To Choose The Right Business For Yourself?.
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