Money. Income. Investment. Wealth. Contribution – all things on my mind lately. So I wanted to share the latest adventure in learning with you!
I went to an amazing training by David T.S. Wood from Amplified Living, this past weekend. I chose to go to this event because this summer, I decided to focus on Financial Mastery, after attending Tony Robbins, Unleash the Power Within, which I shared in my last post. I am a master in many areas, but have not hit it yet in finances. Mastery requires a lot of practice.
David made us say this out loud a few times. And it helped me a lot, it gives me permission to fail and keep tryin! If you have read any of my past posts, you know that I am not afraid of trying new things and pushing myself to the limit. It’s now time to figure Financial Mastery out, and create the abundant life that will allow me to contribute more.
In my exploration, I have learned about different methods of earning income, and having my money work for me. As a Coach/Adviser/Consultant, I am trading my time for money, so if anything happens to me, I have no income coming in (nada, zip, ziltch). Scary, but most of us are in the same situation. Whether you are self employed or not, you are trading your time for money. So I started to read about investing, residual income, and passive income. I asked myself, what are some ways I can learn to earn without trading my time for money. Sure, I have a savings account with at least 3-6 months of income aside, a SEP, I am investing in my retirement. Sure, I am self employed and managing my expenses for tax benefits and maximizing my cash flow. But the way I earn money, still requires my time. Residual and passive income need to come into play, in order for me to build financial freedom.
So my main focus the past 3 months has been residual income. I read this article: What is residual income and why you want it. “Residual income is when you continue to get paid after the work is done.” Books, Real Estate, Music – all can create residual income. But the every day person does not have the means to write a book, buy homes and resell them, create smash hits that are downloaded everyday. Is there a way for someone without any wealth to invest up front can start earning residual income? Answer: Network Marketing Companies provide this ability every day and it is a $167 Billion Dollar industry!
I decided to look into Network Marketing a little deeper to understand the business model and how I could potentially benefit from joining a Network Marketing business. Network Marketing businesses allow you to use a product and operational structure that is in place (built by someone else – so the debt is not yours), sharing it with your network of people, who then share it with their network. Depending on the speed your team grows, you receive income based on that companies compensation plan. Just like Richard Branson has 400+ Companies, and does not manage 1, in Network Marketing, you are essentially giving anyone who joins your team to become a CEO of their own company, and do the same for their team. And as long as you continue to build, stay active, and support your team as a strong leader, you will earn residual income.
This is a relational business. The goal for choosing a Network Marketing business is picking the right company. You want to make sure the company has the integrity, aligned leadership plan, vision, quality product line, and compensation plan that works for you. (Do your research!)
That is how I connected with David’s training this past weekend. When you want to learn about a new field, you find the master trainers. After taking a day to rest up and absorb what I learned this weekend, some thoughts came to mind that I wanted to share with you.
David had us do an exercise around the word NO! Network Marketing business builders are focused on relationships and build their business working with those who say Yes. Not everyone says Yes! When you are first starting out, you have to have a lot of conversations to get to the Yes. Put in a lot of time, but if you get the Yes from a select few that are aligned with your vision, you build together, and the residual income will come. Network Marketing requires an ability to be open and fluid in how to connect with others and share without letting the NO stop you. This got me thinking… Thinking about the NO! How often we hear it in other areas in our life, and don’t push past it or just tolerate it thinking, there is nothing better.
If you think about traditional employment where you have a boss, policies, and regulations in order to get your J.O.B done. It can be a HUGE “NO Cycle”.
Think about this for a minute:
How many No’s do you get at your day job that you tolerate for a paycheck that isn’t helping you achieve your goals? Or could disappear at any given time?
- Can I get a raise? No.
- Can I get more vacation time? No.
- Can I leave early to see my kids before bed? No.
- Can I get promoted now? I put in the time. No.
- Can I work part time and make the same money? No.
And you still show up the next day, after that No, and fulfill your job.
What about the No’s you get at home because you don’t have the time or financial fulfillment in life for all the effort you put forth every day?
- Mom can we go on vacation? No.
- Dad can you come to my game? No.
- Hey hubby, can we take a second honeymoon? No.
- Can we buy a vacation home? No.
No no no no no…it’s like you have to fight to make what you want/need happen.
Then I think about the No Cycle of a relational based business like Network Marketing:
- What if your paycheck was based on getting 10 No’s for every Yes?
- What if your paycheck was based on getting 20 No’s for every Yes?
- What if 1 or 2 Yes’s out of 2000 No’s helped you achieve your dream income and got you to the financial freedom you are looking for?
- Would you show up the next day? Would you keep pushing past the No?
The difference here, is the NO doesn’t matter because a Yes is around the corner. The list of people you can approach, connect with, talk to, meet…endless (especially if it is an international company)! One NO from one person, does not mean a NO for all. In your job, working for someone else, one NO can stop everything from growing, because the job is confined to a box that was not determined by you. (1 in 3 employees are looking for new jobs every day because the NO is keeping their potential boxed in.) Oh and when the YES comes from the right person, at the right time, your network marketing business can push you way past anything you could accomplish in your day job working for someone else. You are living in the No, when you are living a life not fulfilling your dreams. When you take Action in your Yes life, the NO DOES NOT MATTER! (if you didn’t get that, reread this paragraph, it is super freeing to realize you have an out from the box you are in)
The coolest part about building a relational business through network marketing is I get to build a business with the people who say Yes! Let me repeat that so it’s crystal clear: I get to, not forced to, it is my choice and privilege to build a business (life changing income) with the people who say Yes!! They say Yes to themselves every day, they say Yes to the people who say yes to them, and we say Yes to leaders helping us build the freedom life we are looking for. I am grateful for the No, because all the No’s combined led me to an Amazing life changing Yes!
Think about the people that influence you in life. Now pick one that is financially set for life and is now able to contribute more to the world. And if you don’t have one, it’s OK, I will share mine. The people that come to mind for me are: Oprah Winfrey, Richard Branson, Tony Robbins, David TS Wood, Warren Buffet, Robert Kiyosaki…What do they all have in common, THEY IGNORED THE NO! They attempted many methods of income production, and all found a way to create residual income and help others create immense wealth. The only difference between them and us, is they said YES! I am definitely saying YES! I can’t wait to work with those who say YES and join me! I will still continue to run my businesses and influence the world in ways I am passionate about. My plan is to build residual income so I can help others find financial freedom to also live their dreams!
I am so excited about this Financial Mastery journey I am on. If you are interested in joining me in the personal and financial growth plan, email me: firstname.lastname@example.org. Let’s say YES together. If you found this post help, please leave a comment, I would love to hear from you!