Note: The Virtual Wealth FORMULA (as explained in many of the other Blog Posts here) ... is perfectly fine, just as it is. It "works" - and works well ... it WILL enable you to achieve the Virtual Wealth LIFESTYLE (with multiple streams of recurring, PASSIVE INCOME, via Online Business ownership, and smart Attraction Marketing strategies.
However, if you want to "ramp it up a notch" (TURBO-CHARGE it) ... here's the drill:
The Virtual Wealth FORMULA, as we know it, has three (3) main components in order for you to achieve the Virtual Wealth LIFESTYLE (becoming a "Cash Flow Millionaire", creating multiple streams on recurring PASSIVE INCOME, via Online Home Business ownership). These three (3) are - - -
1) Passive Income + 2) Personal Finance Management + 3) Personal Debt Elimination
Of these three (3), the first one (Passive Income Streams) is the most critical one.
4th COMPONENT - But there's a fourth (4th) smart component that - IF added to the above Virtual Wealth FORMULA ... can really "skyrocket" your results (leads / profits / leverage / time freedom / credibility / satisfaction) - - -
In this Blog Post, we will look at a simple "business strategy" ... one that is helping many entrepreneurs "leverage" their time ... especially Network Marketers, if they are running an Online Home Business "part time" ... since it helps bring "all the pieces" of the puzzle together. But first ...
REALITIES: Life happens, and daily "challenges" are part of the equation, for all of us. Examples:
a) Most of us are TIME POOR ... we struggle with "never having enough TIME" (and/or MONEY) to do ALL the things today's hectic lifestyles demand;
b) It is a well known "fact" that only about FIVE Per Cent (5%) of those who look at your Products / Services / Business Opportunity will say YES ... only about "5%". The other 95% will say NO. It's just the reality;
c) Whenever you represent a NETWORK MARKETING company (if your Online Home Biz is one) - even a high quality one - there is always the possibility of "risk". Examples:
they could go out of business / merge with another company (that you do not resonate with) // change ownership (with negative consequences) // drop a product (one that was important to you) // decide to go public (-vs- private) // etc. These are all potential RISK factors that you have no control, or ownership, over
Hopefully, it will "never" happen to you ... but it can, and does (it has happened to me)!
More Than ONE Business - This raises the idea of owning "more" than one business, to protect against the above "risks". Well, it is very difficult - at least within the Network Marketing industry - to work (build) more than one at a time (although I will confess, I do have another Network Marketing business, in addition to my primary one. It is within the Nutritional Health sector, due of my own passion as a Natural Health Advocate.
However, such a business (with "physical" products to ship) is not as good a "fit" for the Virtual Wealth Formula. It is better to have one that is VIRTUAL (Internet based) - and that also has a truly "global" reach, such as my primary Online Home Business (which has a "digital" product - no storage / shipping / breakage / customer returns) - and which reaches over 150 countries currently - all together, a fairly unique situation.
Bottom Line - Yes, having more than one business is perfectly fine ... but with certain cautions to protect yourself.
a) Is there a way to MONITIZE that NINETY-FIVE Per Cent (95%) who will say NO to my Products / Services / Online Biz Opportunity?
b) How can I best "protect myself" (and my family) against future risk possibilities with my Online Home Business?
c) How can I position myself to bring in an endless supply of quality, targeted LEADS?
d) How can I best "attract others" to me, professionally ... and thus, BRAND MYSELF?
ANSWER: There IS a real solution ... one that will increase your profits (it helps you to "monitize" the 95% who say NO - and in the process, generates 'more' Passive Income) - it helps you from becoming too "vulnerable" (the risk factor) ... it helps you to get more quality traffic, and targeted leads ... it brings YOU more credibility ... and that is, to ...
Develop your OWN eMail LEAD LIST
In so doing, this will become your biggest single business ASSET over time!
This one smart strategy is the (4th) Formula component (PART) mentioned above.
Yes, you build your OWN eMail LIST of a high quality, targeted audience - who accepts you -who reaches out to YOU - because "you" offer them sound SOLUTIONS to urgent PROBLEMS.
This simple strategy is excellent for part-time (and full-time) eBiz entrepreneurs, since it can work around the clock ... 24/7 ... without YOU needing to be there - and the different (3) parts automatically "feed" each other, to build your LIST... It is composed of three (3) parts of a TRIANGLE, as follows: