How to Build Wealth Using These 5 Steps to Creating a Residual Income Lifestyle
Learning how to build wealth is not rocket science. Discover 5 steps to creating a residual income lifestyle inside this article.
You do want to build wealth, don’t you?
The challenge for most wealth builders is finding a legitimate opportunity, and then building an automated marketing system to grow your opportunity.
Great News
The great news is that you can learn how to build wealth by following a simple 5 step process. At least, this is the route to the big bucks used by the top money makers in network marketing.
The steps to success in any industry or niche are unique to that market. So, if you don’t like network marketing, or the home business industry, these steps may not apply to you.
Here Goes…
How to Build Wealth Step 1: Find the Right Opportunity
Most of us join an opportunity by accident.
A friend, or maybe your ex-brother-in-law, invites you to an opportunity meeting. You like what you see. You get excited. You join.
Only to find that you hate selling insurance. Or even worse, realize as a guy, selling cosmetics to middle aged women is hard work.
There are other mistakes we make when choosing an opportunity.
For example, what does the compensation plan look like? Can it support your goal of creating wealth?
Find an opportunity with a product and compensation plan that makes your blood tingle and keeps you awake at night.
How to Build Wealth Step 2: Study the Top Money Makers
There are successful people in every legitimate home business opportunity.
Your job is to find them and study them.
How do they prospect? How do they present the opportunity? How do they drain their team members?
Success leaves clues.
Find them, and follow their trail.
How to Build Wealth Step 3: Copy Their Best Habits and Behaviors
I actually learned this from Tony Robbins.
As you may know, Tony is an authority on success, and he pretty much wrote the book on the subject of modelling behavior.
Early in your home business career, the best thing you can do to jumpstart your success and learn how to build wealth, is to model your behavior after a successful person in your upline.
How to Build Wealth Step 4: Use Online Resources to Leverage Your Marketing
Beyond modelling your behavior after a proven success story, you will want to employ technology to leverage your way to the big time.
For example, according to MLM industry averages, most of us sponsor 2 people into the business. In most cases, this can be disastrous (see how even 3 personally sponsored reps can lead to maxing out the Day 1 pay plan here).
But what if you could dramatically expand your reach by using free online resources like social media, videos, and even free blogging?
The potential for greatness is there.
How to Build Wealth Step 5: Grow and Train Your Team to Duplicate
Of course, no discussion of home business is complete without discussing duplication.
This is basically where your team members are willing and able to duplicate, or repeat, what you have done.
The best way to do this is to keep it simple. Invite your prospects to visit your opportunity site, and if they like what they see, they can join.
If not…no sweat. Just keep feeding online prospects into your leads and sales funnel.
Bonus Tip – It goes without saying that success in any business endeavor is only possible if you refuse to quit.
If you’re involved in a legitimate opportunity, and you can see success around you—then your success is only a matter of copying what works, and never quitting.
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