Create Long Term Wealth Starting Today
What does it mean to have financial security and is it something that is actually possible?
By simple definition there are four key factors for being financially secure. They are:
- Being debt-free; this is bad credit such as credit cards, there is some amount of debt that is acceptable and in some cases required.
- In control of your expenses; spending within your means. Making $500,000 and spending $600,000 annually is not in control.
- Consistently increasing your net worth; increase in assets and investments that increase your worth as well as positive cash flow.
- Not being forced to work a job you dislike to pay the bills; not living paycheck to paycheck. If you lost or quit your job how long would it take before you were in financial distress?
The method many people earn an income today have changed drastically. The global economy continues to keep businesses running at their optimum levels and those that cannot keep up unfortunately cease to exist. Other businesses require massive changes, facility closures and moving operations to areas that make the most economical sense. From these decisions it can be difficult to see how one can have financial security when the employment landscape is consistently changing and the threat of job loss is always present.
Individuals have to protect themselves and their financial future by creating a safety net that will allow them to withstand the inevitable changes that will come their way. To put simply, what is better; one income or two?
Everyone will agree that having a second income, or in the cases of couple who both work, a third income. But how can this be accomplished with the busy lives everyone lives? How can additional money be made to create the financial safety net that will allow you to and your family to be financially secure?
Becoming an Entrepreneur
A traditional myth about starting your own business is that a large investment is required. While this may be true for a traditional style of business, for example a franchise; we are currently living in the personal income age, and that allows individuals to make money from virtually anywhere they are in the world.
It is possible to start a business for less than $1000 and it can provide you with an income that could not only replace your current income, but also grow into something much larger. It may seem crazy to think that for just under $1000 you can start a business that could someday replace your current income. Yet each and every single day, people around the world are doing just that. They are doing it with the expanding industry of network marketing.
How to Eliminate Risk in Starting Your Business
Network marketing is an industry that has grown steadily since the early 1940's, but it is not until recently that the growth has skyrocketed. Recessions and downturns in the economies all over the world are forcing people to turn to entrepreneurship to generate income and they are finding their success in an industry they once thought was nothing but a pyramid scheme.
They have found that when they utilize the right opportunity the ability is there to create long term wealth. They have been able to do this because they have done their research and found the critical factors to focus on in selecting the right business opportunity.
Through all the thousands of home business opportunities to eliminate the risk you need to investigate the following items:
- Leadership of the company and/or distributor field. This includes not only their success within the opportunity you are investigating, but also in the industry. How long have they been with the business opportunity you are investigating, things of that nature.
- Company history. How long has the company existed, what are their revenues, profits, how many markets are they officially doing business in.
- Products. While many believe this is the most important factor when joining a company, looking at the company's history will inevitably show you how successful the products are.
Investigating these three keys of the business opportunity will be the basis for understanding how stable and profitable the business can be for you.
Building Financial Security
There is no short cut to success. There is however a difference to the efficency and methods you use to build your financial security. Take a moment to look around and you will see countless people all working in their own way. Who is successful depends on their financial goals and if they are achieving them. What works for them may not specifically work for you.
This is why you must inform yourself of the possibilities which exist all around you to achieve your desired level of financial security. Information is key, then taking action is vital to your success.
Those that want it the most will take the time to become informed. To get the information and support they need to generate the income they want. Why wait any longer? Click here to get more information
Start living the life of your dreams!
Start Your Business Today
Once you have decided on a business opportunity you must start. You cannot generate results in any business if you do not start taking action. Many find it intimidating when they first get started. That's ok, lean on the support team that is within the opportunity to learn the required skills. Leverage the experience and knowledge of the leadership team to steadily build your business an income.
Building your network marketing business on a part-time basis will allow you to generate the additional income you want to create true financial security. Over time, you network marketing business will grow and you will then be faced with a decision; you business income will surpass your current income and what will you do and that is the kind of choice anyone who wants financial security wants to have!
For more information or help on choosing the right network marketing business opportunity, contact Engineered Lifestyles. Since 2006 we have been working with entrepreneurs globally to create the financial security they desire.
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