In this day and age one source of income in the form of your primary salary just doesn’t seem to cut it anymore. Often this can be seen to apply even in the case of the household having two sources of income with both adults working and the family often finds itself having to choose between paying off bills and taking that much-needed extended holiday.
Looking in the direction of the big financial institutions for a lifeline doesn’t seem like it’s going to do the trick if you want to generate an extra income, mostly because the likes of the banks offer traditional investments which are just too slow in generating the kinds of returns that would have that extra income making any difference. So you’d have to look at something which granted has been around for a good while yet, but still makes for a bit of a contentious issue due to all the abuse it’s been subjected to.
Of course I’m talking about direct marketing as this makes for a great lifestyle business with which to generate a second income and empower your immediate network at the same time.
Direct marketing is really not as bad as it’s made out to be and if done right it’s only mutually beneficial to the buyers and sellers. The pyramid scheme element which often tends to creep into this practice should be avoided by simply not entertaining the recruitment side of proceedings. If one can earn commissions by recruiting other members to become sellers of an underlying selection of products and services, it’s very easy for the whole thing to start assuming the appearance of multilevel marketing gone wrong, i.e. multilevel marketing turned pyramid scheme!
Focus on selling the core product or service and you’ll find it very easy to maintain a good reputation amongst your buyers in addition to building up a list of repeat buyers who are satisfied with the products or services they’re buying from you.
The lifestyle element is important in that you likely already have a pretty hectic schedule on your hands and so you don’t really have time to engage in a business that requires the kind of attention a typical job or business requires. That’s why it’s called a lifestyle business – it fits in with your current lifestyle and draws on the existing elements of your life to generate you that extra income.
Now as far as setting up the lifestyle business goes, keep things simple by first building up your network and inviting each prospective member to give you some intelligence on some of the things they buy regularly. If enough people buy the same thing regularly, you can simply become the chief supplier of whatever it is, sourcing it cheaper than retail price because you’ll be buying in bulk and then selling it on to your network at a slightly cheaper price than what they’re currently paying for it.
It’s as simple as that – sell something which the buyers already buy and you’ll have a good second income by running what is the ultimate lifestyle business.