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ADDITIONAL STREAMS OF INCOME? Make Sense to Consider to Supplement Income?

Hey gang - from the North Side of Chicago!

What's going on with the NY Jets and the Indianapolis Colts?  Thought the Colts would run away with this game, but it's pretty nip and tuck.  Let's see!

If you've sold for any length time, I'm sure someone has come up to you with an "incredible opportunity."  One that "can't miss!"

Often times, the opportunity involves investing some money - likely only several hundred dollars, at first - to inventory some potion that will improve gas mileage.   Or make you money via the Internet.  Or Ebay.

Or, catch the next big wave of Retail Point of Sale Marketing (perhaps something similar to Redbox, the current kiosk DVD Rental phenom).

Of course, these so-called "can't misses" have been around for quite a while!  A few years ago, you could easily buy a special pay phone - you can make thousands if you place them in local businesses!  Wireless hot spots - charge about $10/hour for the public to surf the web from a local coffee house.

Amway, the old-line multi level marketing leader, has made thousands of dollars for its independent agents.  But for every one of its success stories, there are many others that fail to make it, or generate only marginal income.

Even the company peddling those "Magic Jack" Telephone Adapters continue to look for independent salespeople.  Retire, early, no worries, many purveyors say.  The money will just roll in!  Effortlessly!  Predictably!

Often times, however, this is not the case - many would-be millionaires often come up frustratingly empty, or near empty.  Others lose money - some, a lot of money - even if the opportunity appears to be an honest and legitimate one.

Real Estate Sales People, like other independent consultants and business people, often have a cyclical business.  For many, these days, business is down - sometimes, way down - although 2010, early on, seems to hold considerable promise and turnaround.

When the downside of a revenue cycle hits, however, the entrepreneurial side of many independent sales people comes to the surface.   Many are, by their very nature, risk takers.  They may decide to take a chance on a potential money maker, with hopes of it working out.

But should they?  Can these opportunities really make money, or are they just potentially dangerous diversions from your true business?

Should Real Estate Practitioners, as well as other sales pros looking for new streams of revenue, take a chance making a few bucks on some product or service completely unrelated to their field of specialization?  Or, is this unwise?

These days, our Chicago Real Estate Team is considering getting more involved in New Agent Training, and perhaps IL Pre-License Instruction.  We are developing new programs for First Time Home Buyers, and those in financially distress.

But each of these are all related to our Real Estate Specialty!

Should we also branch out into other opportunities?  And are these opportunities "real," or just a bunch of hooey?

What say you?  Please share!

DEAN & DEAN'S TEAM CHICAGO

Comment balloon 1 commentDean Moss • January 24 2010 04:34PM
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