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What is your Income Goal with your MLM business?

Permalink 05/03/04 17:24, by admin, Categories: MLM Training, Motivation

Link: http://www.internetnextstep.com/training

So? What is it? Did you know that the average distributor in MLM or Network Marketing makes less than $2000 per year? Did you know that the person making only $2000 a year is getting rich doing it?


Why? Well lets take a look at how much money you would have to have to invest and make $2000 a year! Simple interest at 10% means you would need $20,000 in the bank, or rather a fairly good investment as the bank will not pay you 10% these days!


Ok so how about if you make 3% interest in a bank account? Well then with simple interest you would need $66,666.66 in the bank to earn that in simple interest in a year!


What about the tax situation? Well it is likely the guy earning $2000 a year in his MLM or Network Marketing business is able to deduct business expenses and such to where even making that much money, they are able to earn a tax refund in the area of an additional $2000 a year! So $2000 a year in income and $2000 in tax refund? Wow! is it real? Ask your accountant how a home based business can help your tax situation.


Now don't go saying the expenses of your business are the reason you get the tax refund. The truth of the tax law is that those business expenses are probably mostly made up of money you are already spending even if you didn't have a home based business. Like a portion of your automobile and home can qualify as expenses. You pay for those two things whether you have a home based business or not!!


How about our person who has $66,666.66 tied up in savings bonds or some other ultra safe investment? Well, they don't get any tax breaks on it unless it is in some kind of RRSP or 401K plan. Worse than that, they are going to pay about 50% of it to the government in taxes in most countries as it is passive income and is taxed at the highest rates!!!! Don't beleive me? Ask your accountant!


So, what are your income goals in your business? Even $200 a month is a very life changing financial goal as you can see from the above discussion!


Start small, dream big, and work towards your goal. The price of not doing it, is much more expensive than the price of doing it!


Take action, set your goal today and start after it!


Check out our MLM Training website which is all free at: http://www.internetnextstep.com/training

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