"Get in Now!" - Don't Believe the Hype

Have you ever seen an ad with one of these selling points?

• now is the right time to get into this opportunity
• this product is hot right now!
• ground floor opportunity

What does that mean? 

It means that a new company feels that in order to benefit from the company's projected growth, you need to get in now.  The people who will benefit most are those who jump in and get on board now.  In a way they are admitting that this company's growth and success will be short lived.  Which is a scary prospect that should make you look the other way.

Ever heard someone talking about business and finance say that the first one in makes all the money and the last one in loses?  That is very typical for companies who have a traditional multi level marketing (MLM) model.  In order to really "hit the big time" with most of these businesses, you would need to get in early or get left out to dry at the bottom.

Recently, more and more hype of the moment companies and products are being thrown in our faces.  A year ago it was juice companies claiming their juice would make you live longer, help you lose weight, give you more energy, and even heal your ailments.  Many people got in while these companies were supposedly "hot" and ready to take off.  For a while they were successful, but it wore off after the hype died down.

Is it possible to make money with these types of opportunities?  Of course.  If you get in when you are instructed and are one of the first few to jump in and spread the word while the product is hot, you may be able to generate a good stream of income.  But what happens when the product is no longer in huge demand?  Or if the economy starts to falter and people decide they are no longer buying extravagant things, only necessities?  That income generating opportunity is over.  And if there was any investment involved that is gone as well. 

Some advice for when you read claims of a product or new business opportunity being: hot, hype, or the best time to get in, is run.  Get as far away from that opportunity as possible.  Don't get tempted by the promises or lingo.  If you are interested in generating some new streams of income and are looking at a new business venture here are a few quick tips. 

Find a company or opportunity with history.  Not all new businesses are hype or destined to fail, but your odds of finding something that will give you success for the long term are better with a company with history and longevity.

Check the company's rating with the Better Business Bureau (BBB).  Legitimate companies with nothing to hide will have an entry on the BBB website.  Read through their positive comments, their complaint history, and the results of how those complaints were handled.

Look at the company's growth and revenue statistics.  Has the company grown every year since being in business with only a few dips in revenue?  Is the company strapped with large amounts of debt or filed for bankruptcy?  Starting a business with a company that has steadily increased revenue and is debt free can help ensure you will have lasting income.

What product or service are they putting out; is it luxury or necessity?  Over the past 2 years, the economy has forced people to make budgets and stick to them, and stop buying anything that wasn't a necessity or that they couldn't pay for with cash.  Only get involved with businesses that offer something everyone needs and uses, no matter how their current financial situation appears.

How do you feel when you hear of an opportunity that is "hot right now?"

Benefits of Residual Income

"By working faithfully eight hours a day you may eventually get to be boss and work twelve hours a day." - Robert Frost

"Family, religion, friends.. these are the three demons you must slay if you wish to succeed in business." - Monty Burns

  

Not me.  That is not how I envisioned my life.

Last week I posted about the difference between Linear and Residual Income.  Keep in mind, residual income pays you long after for work you've already completed.  I also listed a few ideas on how to generate residual income.

This week, I want to talk about how this can benefit you. 

The prospect of starting a home business was a little daunting and scary to me 3 years ago.  I had never done anything like it before, I had always been a pay per hour worker.  I needed to replace my former teaching salary as soon as possible.

Within my first few months working I was able to bring in a good monthly income, which was great because shortly after starting my business, my 18 month old son was diagnosed with Autism.  Obviously, my business took a back seat.  I did not work regular hours for months as we were going through evaluations, lining up therapists, and emotionally dealing with what we just learned.  I spent more hours doing therapy and research than working my business. Yet I still got paid. That is the benefit of residual income.  I still got a check each month for work I had done my first few months in the business even though I was not working.

Time went on, we got our life back in order and I reorganized and prioritized my schedule.  My monthly income from my home business continued to grow as I worked.

Once again, that extra income was amazing because we were then hit with another blow.  At 6 months pregnant, we were told that our 2nd son would come out with health problems.  I took the time to research and prepare and after he was born, our life completely changed for about 2 months.  He was very sick, in the NICU, and almost lost his life twice.  A blood transfusion was what finally saved him.  During those months I did nothing in the way of working my business.  Yet I still got paid. I was able to take the time to be with my son in the NICU, care for my then toddler with special needs, and still make a monthly income that could help with groceries and bills.

Residual income; getting paid for work I had already done, allowed the pressure to be taken off my husband, the only member of our house with a salaried job. 

It allowed me to take time to care for and provide the best help possible for my son with Autism. 

It allowed me to be at my newborn's side as he fought for his life. 

What can the power of Residual Income do for you?

What is Residual Income?

Residual income is when you continue to profit and earn money for actions that have since been completed.  Rather than getting paid linear income, which is money earned per hour of work, you continue getting paid long after the work is done. 

I designed this chart to illustrate the comparison. Notice the continual rise of the residual income over time, even though less effort is being put in, versus the linear income, where income doesn't change unless time and effort are increased.  

Some benefits of residual income are:

• Financial Independence:  Getting paid for weeks, months, and even years for a job you completed in the past is an excellent way to pay off debt, make investments, or add to savings. 

• Time:  You still receive money, while not spending the time working!  You can then take that time and use it for other things like family time, vacations, or even generating more residual income. 

• Get paid for the rest of your life:  Compared to linear income, residual income makes sense.  With an honest hard working job you get paid once for that work, but with residual income, you get paid continuously for a long period of time, possibly even for life!

Some ways to earn residual income include:

• Having rental properties with paid mortgages; the rent is your residual income
• Writing a book, a song, or acting; the profits made from book sales, music sales, or money drawn from TV shows, movies, or commercials are your residuals
• An investment or savings plan that pays you residuals in the form of interest or dividends
• Referral, affiliate, or associate programs; where you receive compensation for marketing and referring customers.  Some of these programs have a one-time compensation plan and a few credible ones have long term residual compensation plans. 

Those are only a few ideas of ways to earn residual income.  Some are not possibilities for everyone because they require certain skills and talents, or a large start up fee or investment.  If you have any questions about residual income please don't hesitate to contact me. 

Check back next week, I will be posting more about the benefits of residual income and about what it has done for me. 

Be sure to also visit me at my personal blog: Mommy To Two Boys

A New Year, A New Financial Outlook

Can you believe the first month of the new year is almost halfway over?
 
Have you set your New Years resolutions? Is one of them to save money or pay off debt? I would like to share  5 Ways for Moms to Save Money in the New Year. Simple tasks that will help you reap the benefits for months to come.

1. Take control of your financial future by starting your own home business  One without parties, inventory, or risk.  One with credibility, free training and support.  Internet CEO Moms works with a company that is debt free, has 26 years of experience, and an A+ rating from the Better Business Bureau (BBB).  For more information about Internet CEO Moms and how you can work from home visit my website: www.JaysMomIsHome.com, or click here to pick a time to view our free webcast with all the information you need to decide if this is the right opportunity for you and your family: http://tinyurl.com/JaysMomIsHome.

2. Make a grocery list and stick to it Before you run to the store look through your cupboards and come up with a list of the things you actually need. Pick a budget and resolve to not go over.  Use your store's circulars to see what is on sale.  I recently cut our family's monthly food budget from $800 to $400.

3. Use Coupons  You'll find there are coupons for EVERYTHING. From developing photos online, to a meal at a local fast food restaurant, to groceries. There are also many coupon websites that will allow you to print off coupons that you know your family will use.

4. Shop online! You'll be able to compare items from one store to the next. You'll also find that most online stores have a Sale or Clearance section.  Don't forget to find those coupon codes while checking out online as well.

5. Start a Savings account We often overlook the value of having money put away for a rainy day. If you saved just $5.00 each week that would be an extra $260 in your bank account at the end of the year.

Here's to a New Year and saving some money along the way!

For more information about Internet CEO Moms and how you can work from home visit my website: www.JaysMomIsHome.com,
or click here to simply pick a time to view our free webcast with all the information you need to decide if this is the right opportunity for you and your family: http://tinyurl.com/JaysMomIsHome.

Christmas Security

I know that the meaning of Christmas is not the presents.  I know that spoiling my kids is not necessary.  But we don't buy our kids very much throughout the year so I love being able to really treat them for this one holiday. 

Last year we had just relocated, my husband left his full time job, and money was beyond tight.  I was working my business and he was freelancing, and not very much.  So we could only do a very small Christmas.  I know this is wrong, but it broke my heart.  It made me sad to not give my boys a really nice Christmas. 

But I did keep in my mind how blessed we were.  How truly happy I was to have a home, and a happy healthy family.  That is by far the most important thing and gift I could ever have. 

This year, we are much more secure.  My husband and I have worked really hard this year and I get to spoil my boys.  It feels good.  Not to be spoiled or have excess money or teach my children they need lots of things.  But it feels really good to see all our hard work paying off.  Knowing that the times I worked when I didn't want to were worth it.  Having some discipline in my home business will make this Christmas extra special. 

What Has Working At Home Done For You?

The top 5 benefits of being a work at home mom for the past 3 years for me are:

1.  Getting most of our debt paid off.  3 years ago we had debt collectors ringing our doorbell and we were looking into filing for bankruptcy.  Now we are almost debt free.

2. I am rarely ever stressed.  As a teacher I always felt stress.  A never ending to do list, constant paperwork, testing, red tape, no bathroom breaks, and a 20 minute lunch break really stressed me out.

3. I love being able to take my kids places during the day.  The playground, the park, the grocery store, the museum, and the aquarium are basically empty in the mornings so we get free reign over everything.

4. I don't miss out on anything.  I have enjoyed almost 24 hours a day, 365 days a year of both of my boys' lives.  I would not have it any other way.

5. I can make sure Jaylen gets the care he needs.  Autism takes a lot of time, energy, and work.  Being home has allowed therapists to come and go at our house, and have allowed me to take him to classes, therapies, and groups.  I am at every PPT (school meeting), IEP (school meeting), and doctor's appointment without having to ask my boss (that's me!) for a day off.

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Do you work from home?  What has it done for you?  Please share!

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Are you looking to work from home?
Membership with our team is only $1 in October.

To learn all about our team and how
we can help you to work from home,
feel free to visit the following link to
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This tree is making it impossible to work from home!

Terrible audio
No make-up
Messy house
Gorgeous Fall tree
= This impromptu Vlog

This is Me - A Vlog

My Work From Home Story

 

When I had my first son Jaylen in October of 2006, I was supposed to go back to teaching Kindergarten the next school year, but I really wanted to be home with him without the financial stress. We were going further and further into debt without even thinking about putting away money for our futures and our sons' educations.  I realized that something in our life had to change. 

Jaylen was diagnosed with Autism shortly after I joined our Internet CEO Mom team and it is great that I can work around his therapy schedules.  We welcomed our second son, Xavier, in November of 2008 and I just love that I can work at home alongside my two boys.  I am so proud knowing that I will soon be at my goals of replacing my teaching income, paying off our debt, and even putting some money away, all while being home with my family. 

The best part is that I am helping other mothers do the same!  Anyone can do this and have the freedom to work around their family.



Learn more about me and my family at my personal blog, Mommy To Two Boys!

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The secret of your success is determined by your daily agenda. - John C. Maxwell

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Jean Myles
Helping Moms Work From Home Since 1999

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