Growing up in Los Angeles, California, I happened to be there for The Northridge Earthquake of 1994. That earthquake caused an estimated $20 billion in damage, making it one of the costliest natural disasters in U.S. history. I was in my early 20′s at the time, and had been through a few tremors before. That morning, however, that particular earthquake was one I will never forget. Fortunately, our house was not condemned, though it did sustain a lot of damage. My dad had canceled the Earthquake Insurance on the house just the year before, thinking he would not need it. My parents had to take out an SBA loan to pay for the repairs – approximately $73,300. FEMA had given little help in the beginning, so it was up to them to pay for the damage caused by mother nature!
My dad passed away 7 months later, while on a camping in an RV with my mom in Montana. It was now up to her to make those SBA payments, along with the rest of the bills that kept the house running. She figured out that she would be in the financial hole about $200-$300 each month. My mom worked full-time, and made good money, but there was one less person contributing to the household now.
My husband and I moved to Nashville 4 and a half years ago. He works full-time, and I am a stay at home mom (or work from home, whatever you want to call it!). We have 2 girls under the age of 3, and as you know, kids require money. Never in my wildest dreams did I think I would be faced with another natural disaster. Yet, it happened this past weekend, without warning, and without preparation. We were fortunate, and did not lose everything we own. We didn’t lose anything. But we have friends who did. The devastation will be felt in Nashville and the surrounding areas for some time. Fortunately, we kick ass when it comes to community, so I have no doubt our “recovery time” will be shorter than expected.
This devastation made me wonder about what I would do if I were put in the same situation as my mom, all those years ago. What would happen if my husband passed away? How would I pay the bills? How would I take care of our kids?
Fortunately, we were introduced to 2 wonderful companies, and have taken charge of our financial future! Passive Residual Income is our focus now, and we are excited about the possibilities and freedoms it will allow. MLM has been a dirty phrase for a long time, due to some horrible companies, and bad press. “Pyramid Scheme” has replaced what could potentially be security for many people. Of course, you don’t want to limit yourself by just becoming an “Independent Distributor” for a company (or two). Creating your financial empire requires more than just getting people involved in your business as a rep, or buying your product. You will have to research and work hard for a time, to build your business – build YOURSELF. The major players in Network Marketing know that you have to Brand Yourself. But what does that mean?
If you have any hope of continuous Passive Income, you must start thinking about the possibility of your company’s downline vanishing. When you are a part of an MLM, you are still subject to the business going under, even though your personal success is relative to how much you put into it. When you are working your MLM, your downline is not yours! Your downline belongs to the Company. Think about it for a minute. That’s why you might be hearing all this talk about “build your Brand” and not just your MLM.
Katie Freiling wrote a brilliant Blueprint on how to create lifelong, lasting personal wealth, using Social Media. If you have been in a cave somewhere, here’s the link!
Social Media Wealth Manifesto
I’m not sure if this is even available the original way, and I may have to delete this link if it has. So get it now, while you still can!
So, here’s what I’ve learned:
Passive Income is the new Wealth
Personal Branding is the way to get there
MLM is not a dirty phrase, as long as you work it for what it is, make it your own, and create something bigger!
Tragic events are going to happen. Be prepared financially, by Branding Yourself, so that you will always have income streams! The fact that you can do this anywhere is a plus, since relocating might be necessary.
Why grow someone else’s business when you can grow your OWN??
Your next step should be printing that FREE Manifesto, and applying it TODAY!! Financial Freedom is not going to just drop out of the sky, so get to work!
To Your Health and Wealth!