Mom Pays for College

A work from home mom will gain the most rewards from a residual income opportunity over a traditional job if she gets in the right business and works it well.  A residual income opportunity is one where, by the design of your business, your business is leveraged.  That is; for the amount of resources you put into it you get a significant proportion more out of it.

One example of a leveraged business or a residual income opportunity is real estate for investment.  Let’s say you could:

• Buy a property valued at 100,000 for $10,000 down.
• Borrow the rest.  The cost to own and insure that property is $800 per month. 
• Rent it for $1,000 per month.
• Your residual income is $200 per month for an investment of $10,000. 
• This is earning you about 24% interest on your $10,000 investment.

Also included in property investment are depreciation tax advantages and property value appreciation over time (yes, I know right now property values are dropping) and you will gain there also.  So real estate investment is highly leveraged.

The risks involves include tenants that trash your property or don’t pay, decreasing property values and property loss due to unforeseen events which can be insured for.

What if you don’t have $10,000 and a great credit rating or don’t want to work for tenants? Then one of the best ways to make money is with an MLM or multi level marketing business. Everyone from Donald Trump, Robert Kiyosaki and Oprah Winfrey are claiming that these residual income opportunities are a great way for everyday people to leverage their time and limited financial resources and make good money. These people are rich. Do you think they’d be recommending you work for $20 per hour as a great opportunity when this kind of business if done properly could get you in the $10,000 per week range? This is one of the best ways to make money;  use a leveraged residual income opportunity. It is great for a work from home mom.

How is a successful MLM business leveraged? Simply stated you find several business partners and nearly everyone else you find does the same.  Everyone participating gets a piece of the pie.  The more people consuming products, the more you make.

People often refer to these businesses as scams or pyramids.  Believe me.  There may be a few mlm scams out there but most of the well known ones are very legitimate businesses with excellent products, training and resources and are designed to make you, the work from home mom, a lot of money, legally.

These are great residual income opportunities for a work from home mom since you are your own boss. You set your own hours and work as hard or easy as you want.  Rewards come from your own efforts.

Someone I heard the other day mentioned his definition of a financial pyramid and I had to laugh.  So company BCA (Big Corporate America) has a president or two, a bunch of vice presidents, executive directors and 26 levels of people higher than the workers that actually do the work, not just plan and organize it.  The people at the top make way more money than the people at the bottom.  There are less people at the top and more at the bottom.  Tell me, if you’re not the guy at the tippy-top, do you want to spend your life in this corporate pyramid?

In a legal MLM business, each and every person has the same chance to make money.  You are rewarded by your ability to add motivated team members. It’s much more “fair” that rewards be given to those who earn it. Any WAHM know about fair right?  Your kids remind you very day.

One piece of information that I have observed is that you don’t need to personally sponsor a lot of people in order to be successful in an MLM business.  I’ve heard it from three different people who are extremely successful in MLM. One has personally sponsored only 20 people and has a team of over 2,000. One person works solely using the internet and has personally sponsored 36 people and has a team approaching 4,000 and this occurred in about three years. One guy said he and his wife sponsored again about 20 people in 18 months and has built a large team and gained a significant residual income.

With most network marketing opportunities you’ll be breaking even on your investment after getting about eight people in your team.  In the beginning it might seem challenging to find people interested in joining your business.  If you make a commitment to make it work, it will. You must keep at it. You need to sort through people as fast as possible in order to succeed quickly.  Your job is to find the right people, not convince the wrong ones.

I’ll be writing more on these topics soon.  Get a copy of at least six ways a work from home mom can make money for college or anything else. http://mompays.com.  There are several residual income opportunities identified in the free audio and report. 

If you are currently involved in any kind of MLM recruiting check out this system I use to increase my sponsor rate.  Would you like to increase your business?  htp://NetworkMarketSuccess.net.

The best home based business for single moms is one that takes advantage of current trends, has a low entry cost, and gives single moms access to mentors willing to help them become successful.

Let’s say I’ve had it with the day job. My debt is beyond belief. I have no time to spend with my kids or family. I’ve read the Rich Dad Poor Dad books and decided that I no longer want to trade time for money but I have no idea on how to get started in my own home based business or how to become an entrepreneur. What do I do?

Well there are successful home based business plans available to single moms who want to build wealth that are already set up, running and making huge profits. And the beauty is they are looking for other single moms to partner with and are willing to help them develop their business. These businesses help other achieve their goals, so if you’d be the type of person that would be willing to help others achieve their goals too, this could be right for you.

How easy would it be to start one of these? Most of these companies have a very low entry cost, from $30 – $200 and a low monthly participation cost, about $150 – $300 per month that could be earned back within a few weeks or months. Income potential is unlimited. You do have to work at it to get there and they are not get rich quick schemes. But the amount of work that you put in over time compared to the amount of reward possible is so different that this type of business would be considered truly leveraged. Plus, you develop a work plan suited to your own schedule. You get to see your kids during the day if you want.

These types of business take advantage of current trends like distribution, baby boomers, the health care and wellness industry, plus the shift from the industrial age to the information age driven by the internet. This is the perfect storm of entrepreneurship and suited to single moms. Millions of dollars are waiting to be made, now and in the next several years.

Read “The Next Millionaires” by Paul Zane Pilzer or “Rich Dad’s Business School for People Who Like Helping People”. These books are great resources for the kind of business I’m about to tell you about.

What is it? It is direct sales or network marketing. “Oh my gosh,” you say. “I can’t sell anything.” Neither can I but I can learn what it takes to become a millionaire real fast. One of the first things that come to mind when the words network marketing are mentioned is the old model of making a list with all your friends, family, acquaintances, people you see walking down the street, people you don’t even like and everyone that has an occupation that you can think of — then calling them. Yes. This could be though of as scary by most.

And besides scary, it’s not that productive. Where is it written that perfect strangers even care who you are let alone are interested in some whacky business or product you are trying to promote? This is not to say that you can avoid talking to people in network marketing, on the contrary. You want to talk to people and show them how easy it is, but you don’t want to talk it into people. You want people to come to you and ask to be shown.

And how is it that the internet which is connected to literally billions of people isn’t the most awesome tool for finding new people? Tell that to the list makers.

How do you get people to come to you? It’s called attraction marketing and basically you become a desired force or expert in a specific niche and people want to learn from you. At that time they are open minded enough to listen and consider network marketing as a viable business opportunity for them. It takes time, but consider the alternative of working until you are 65 and retiring on half your salary and having your kids live at home with you while they go to community college.

There are over 1,600 network marketing companies around. Some are much better than others. Be careful because some of the companies will hold you hostage for six months with a non-compete clause which means you can’t legally join any other program or they can sue you. Do your research. Talk to people who are active in plans. Pick the best payout and then have the person who signs you up help you to achieve success. They will be happy to help because your success improves their success. You can find the best home based business for single moms with some research and by talking to people. Lots of people are willing to help you.

Click here for a detailed report and audio from Lana Hawkins about How Single Moms Can Earn Money For College.

Recently I was interviewed by Rod Moore of Profit Minute regarding several ways single moms (or anyone) could make money for their kid’s college expenses, tuition, room, board, books etc. 

Most people facing the cost of college tuition are not fully prepared because the costs of college is rising faster than the best planning we’ve done. Many of us have not started or are hoping for a scholarship and loans to get us through.  

This interview covers several ways a mom could earn money for their kid’s education, and the benefits and drawbacks of each.  Take a listen and learn how you could pay for your kids education, debt free.

Click Here to Get Access to the Audio Interview.