 |
| Free Video Hosting |
Sunday, December 2, 2007
Monday, November 26, 2007
The Reverse Funnel System
One thing I'm frequently asked when people read the Reverse Funnel System is, what about the Reverse Funnel System and saturation?That is, people wonder if there will ever be a point when so many people are involved that it will be impossible to make money online with it.I'll be honest (and different from most people you pose the question to) and tell you that theoretically, it's possible. Those who would compare the RFS to things like Starbucks, McDonalds, and supermarkets are making an inaccurate comparison - those places all sell consumable items that must be replenished regularly.But if someone joins the Reverse Funnel System and purchases a Platinum membership, that is a one-time purchase. Unlike traditional network marketing, where you receive tiny commissions over an extended period of time, with the RFS, you get a large $1,000 commission check up front - and that's it, from that particular transaction.(But you will make money online after that transaction, as detailed in the post about the Reverse Funnel System Compensation Plan).So it is theoretically possible that the market can become saturated. It is also theoretically possible that the sun will not come up tomorrow.So while you ponder that, look at the statistics provided by these two links:http://www.google.com/trends?q=make+money+onlineThe amount of people searching for just that one term, "make money online", has been slowly but steadily increasing. Despite what people might say to the contrary, there is and always will be a very high demand for money - and learning how to make more of it.https://www.cia.gov/library/publications/the-world-factbook/rankorder/2153rank.htmlThis shows the number of Internet users in the world. As of today, November 25, 2007, there are 1,018,057,389 Internet users in the world. That's more than a trillion people using the Internet - and there's more coming online every day.If somehow, someday, someone will have reached all 1,000,000,000+ of those Internet users, and presented them with the RFS opportunity, I will eat my Sony Vaio laptop:So my final answer regarding Reverse Funnel System saturation remains... it is theoretically possible, but very, very improbable.
http://www.myspace.com/key2succeed
http://www.myspace.com/key2succeed
Friday, November 23, 2007
Global Resorts Network (GRN) Saving and Making Thousands
Aren’t you tired of paying 50% too much for your vacation?”
Global Resorts Network (GRN) is redefining the way we travel. Their lifetime membership allows us to travel 52 weeks per year to over 5000 high-end resorts while only paying $298 up to $699 for the entire week.
“We recently reserved a five star resort in Cabo San Lucas for the 2008 New Year, (which is always hard to get) and this one trip alone will be saving my wife, Courtney, and I over $2200. You can see pictures of the resort at http://www.key2succeed.com/ It was a very simple process and customer service handled it immediately. I’m very impressed with everything Global Resorts Network does.” Randy Neale says. Global Resorts Network has been selling these exclusive and private travel memberships for over 21 years in excess of $10,000. Now, due to the internet, these memberships are being offered for less than $3000.
When compared to a timeshare, this membership blows the doors off the timeshare industry.
“My in-laws purchased a timeshare in Cabo several years ago and paid over $40,000 for one unit. They have to pay over $1200 every year for maintenance costs whether they use the unit or not and on top of that, they are restricted to the same location, year after year. According to them, whenever they have tried to trade for other locations, it’s like pulling teeth. Who needs the headaches?” Randy states
Not only does Global Resorts Network offer huge discounts on 4 and 5 star resorts around the world, but they also offer a compensation plan that is shocking network marketers all over the planet.
Imagine earning $1000 commissions every time you sell a membership and $1000 commissions from your ever-growing team. The sky is the limit.
For more information on Global Resorts Network, the Perpetual Leverage compensation plan, browse the resort registry and to find out why Team Visible Wealth is being sought after by so many entrepreneurs, please visit http://www.key2succeed.com/ today.
Global Resorts Network (GRN) is redefining the way we travel. Their lifetime membership allows us to travel 52 weeks per year to over 5000 high-end resorts while only paying $298 up to $699 for the entire week.
“We recently reserved a five star resort in Cabo San Lucas for the 2008 New Year, (which is always hard to get) and this one trip alone will be saving my wife, Courtney, and I over $2200. You can see pictures of the resort at http://www.key2succeed.com/ It was a very simple process and customer service handled it immediately. I’m very impressed with everything Global Resorts Network does.” Randy Neale says. Global Resorts Network has been selling these exclusive and private travel memberships for over 21 years in excess of $10,000. Now, due to the internet, these memberships are being offered for less than $3000.
When compared to a timeshare, this membership blows the doors off the timeshare industry.
“My in-laws purchased a timeshare in Cabo several years ago and paid over $40,000 for one unit. They have to pay over $1200 every year for maintenance costs whether they use the unit or not and on top of that, they are restricted to the same location, year after year. According to them, whenever they have tried to trade for other locations, it’s like pulling teeth. Who needs the headaches?” Randy states
Not only does Global Resorts Network offer huge discounts on 4 and 5 star resorts around the world, but they also offer a compensation plan that is shocking network marketers all over the planet.
Imagine earning $1000 commissions every time you sell a membership and $1000 commissions from your ever-growing team. The sky is the limit.
For more information on Global Resorts Network, the Perpetual Leverage compensation plan, browse the resort registry and to find out why Team Visible Wealth is being sought after by so many entrepreneurs, please visit http://www.key2succeed.com/ today.
Is Global Resorts Network a Scam?
Global Resorts Network is the ticket to luxurious vacation and travel experiences. The opportunity with Global Resorts Network is what you make of it. If you put in half the effort as you do with your current job, you would be surprised at the results. With Global Resorts Network, you get the benefits of the timeshare WITHOUT the annual maintenance fees. Perpetual Leverage is the most powerful compensation plan ever created. If you wrap your mind around this, you won't sleep for weeks! Earn $500 or more on every qualified sale you make AND $500 or more on every qualified sale your team makes throughout the organization to Unlimited Depth and Unlimited Width!Global Resorts Network
The best Home business I have seen
Now there are so many home based business opportunities for you to choose from. Though sometimes you may get confused with so many options. And that is quite natural. All the latest home based business opportunities appear to be equally profitable, with the potential to generate six figure incomes for you. And so you are confused about which one to go for.
I will suggest you to consult a renowned business guru. Such a person will be able to provide you the right guidance. You can also visit various home business sites, from where you can gather valuable information about the best home based business opportunities for you.
kttp://www.key2succeed.com
I will suggest you to consult a renowned business guru. Such a person will be able to provide you the right guidance. You can also visit various home business sites, from where you can gather valuable information about the best home based business opportunities for you.
kttp://www.key2succeed.com
The best Home business I have seen
Now there are so many home based business opportunities for you to choose from. Though sometimes you may get confused with so many options. And that is quite natural. All the latest home based business opportunities appear to be equally profitable, with the potential to generate six figure incomes for you. And so you are confused about which one to go for.
I will suggest you to consult a renowned business guru. Such a person will be able to provide you the right guidance. You can also visit various home business sites, from where you can gather valuable information about the best home based business opportunities for you.
kttp://www.key2succeed.com
I will suggest you to consult a renowned business guru. Such a person will be able to provide you the right guidance. You can also visit various home business sites, from where you can gather valuable information about the best home based business opportunities for you.
kttp://www.key2succeed.com
Global GRN
The home based business income opportunities have genuinely opened new business horizons for all of us. You just need to have the business aptitude, dreams to make it big, and willingness to work. And it’s all yours.
I can tell you about my own neighbor. Till the other day he was an ordinary school teacher, with just leisurely interest in Internet. Suddenly a network marketing business opportunity caught his attention, and he joined it. And now he is regularly making six figure incomes.
http://www.key2succeed.com
I can tell you about my own neighbor. Till the other day he was an ordinary school teacher, with just leisurely interest in Internet. Suddenly a network marketing business opportunity caught his attention, and he joined it. And now he is regularly making six figure incomes.
http://www.key2succeed.com
Wednesday, September 5, 2007
How to Become A Millionare
A PORTRAIT Of A MILLIONAIRE
Who is the prototypical American millionaire? What would he tell you about himself?(*)
* I am a fifty-seven-year-old male, married with three children. About 70 percent of us earn 80 percent or more of our household's income.
* About one in five of us is retired. About two-thirds of us who are working are self-employed. Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. Also, three out of four of us who are self-employed consider ourselves to be entrepreneurs. Most of the others are self-employed professionals, such as doctors and accountants.
* Many of the types of businesses we are in could be classified as dullnormal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors.
* About half of our wives do not work outside the home. The number-one occupation for those wives who do work is teacher.
* Our household's total annual realized (taxable) income is $131,000 (median, or 50th percentile), while our average income is $247,000. Note that those of us who have incomes in the $500,000 to $999,999 category (8 percent) and the $1 million or more category (5 percent) skew the average upward.
* We have an average household net worth of $3.7 million. Of course, some of our cohorts have accumulated much more. Nearly 6 percent have a net worth of over $10 million. Again, these people skew our average upward. The typical (median, or 50th percentile) millionaire household has a net worth of $1.6 million.
* On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.
* Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes.
* Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.
* We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.
* Most of our wives are planners and meticulous budgeters. In fact, only 18 percent of us disagreed with the statement "Charity begins at home." Most of us will tell you that our wives are a lot more conservative with money than we are.
* We have a "go-to-hell fund." In other words, we have accumulated enough wealth to live without working for ten or more years. Thus, those of us with a net worth of $1.6 million could live comfortably for more than twelve years. Actually, we could live longer than that, since we save at least 15 percent of our earned income.
* We have more than six and one-half times the level of wealth of our nonmillionaire neighbors, but, in our neighborhood, these nonmillionaires outnumber us better than three to one. Could it be that they have chosen to trade wealth for acquiring high-status material possessions?
* As a group, we are fairly well educated. Only about one in five are not college graduates. Many of us hold advanced degrees. Eighteen percent have master's degrees, 8 percent law degrees, 6 percent medical degrees, and 6 percent Ph.D.s.
* Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.
* As a group, we believe that education is extremely important for ourselves, our children, and our grandchildren. We spend heavily for the educations of our offspring.
* About two-thirds of us work between forty-five and fifty-five hours per week.
* We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one account with a brokerage company. But we make our own investment decisions.
* We hold nearly 20 percent of our household's wealth in transaction securities such as publicly traded stocks and mutual funds. But we rarely sell our equity investments. We hold even more in our pension plans. On average, 21 percent of our household's wealth is in our private businesses.
* As a group, we feel that our daughters are financially handicapped in comparison to our sons. Men seem to make much more money even within the same occupational categories. That is why most of us would not hesitate to share some of our wealth with our daughters. Our sons, and men in general, have the deck of economic cards stacked in their favor. They should not need subsidies from their parents.
* What would be the ideal occupations for our sons and daughters? There are about 3.5 millionaire households like ours. Our numbers are growing much faster than the general population. Our kids should consider providing affluent people with some valuable service. Overall, our most trusted financial advisors are our accountants. Our attorneys are also very important. So we recommend accounting and law to our children. Tax advisors and estate-planning experts will be in big demand over the next fifteen years.
* I am a tightwad. That's one of the main reasons I completed a long questionnaire for a crispy $1 bill. Why else would I spend two or three hours being personally interviewed by these authors? They paid me $100, $200, or $250. Oh, they made me another offer--to donate in my name the money I earned for my interview to my favorite charity. But I told them, "I am my favorite charity."
"WEALTHY" DEFINED
Ask the average American to define the term wealthy. Most would give the same definition found in Webster's. Wealthy to them refers to people who have an abundance of material possessions.
We define wealthy differently. We do not define wealthy, affluent, or rich in terms of material possessions. Many people who display a high-consumption lifestyle have little or no investments, appreciable assets, income-producing assets, common stocks, bonds, private businesses, oil/gas rights, or timber land. Conversely, those people whom we define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.
THE NOMINAL DEFINITION OF WEALTHY
One way we determine whether someone is wealthy or not is based on net worth--"cattle," not "chattel." Net worth is defined as the current value of one's assets less liabilities (exclude the principle in trust accounts). In this book we define the threshold level of being wealthy as having a net worth of $1 million or more. Based on this definition, only 3.5 million (3.5 percent) of the 100 million households in America are considered wealthy. About 95 percent of millionaires in America have a net worth of between $1 million and $10 million. Much of the discussion in this book centers on this segment of the population. Why the focus on this group? Because this level of wealth can be attained in one generation. It can be attained by many Americans.
HOW WEALTHY SHOWED YOU BE?
Another way of defining whether or not a person, household, or family is wealthy is based on one's expected level of net worth. A person's income and age are strong determinants of how much that person should be worth. In other words, the higher one's income, the higher one's net worth is expected to be (assuming one is working and not retired). Similarly, the longer one is generating income, the more likely one will accumulate more and more wealth. So higher-income people who are older should have accumulated more wealth than lower-income producers who are younger.
For most people in America with annual realized incomes of $50,000 or more and for most people twenty-five to sixty-five years of age, there is a corresponding expected level of wealth. Those who are significantly above this level can be considered wealthy in relation to others in their income/age cohort.
You may ask: How can someone be considered wealthy if, for example, he is worth only $460,000? After all, he's not a millionaire. Charles Bobbins is a forty-one-year-old fireman. His wife is a secretary. They have a combined annual income of $55,000. According to our research findings, Mr. Bobbins should have a net worth of approximately $225,500. But he is worth much more than others in his income/age category. Mr. and Mrs. Bobbins have been able to accumulate an above-average amount of net worth. Thus, they apparently know how to live on a fireman's and secretary's income and still save and invest a good bit. They likely have a low-consumption lifestyle. And given this lifestyle, Mr. Bobbins could sustain himself and his family for ten years without working. Within their income and age categories, the Bobbinses are wealthy.
The Bobbinses are quite different from John J. Ashton, M.D., age fifty-six, who has an annual income of approximately $560,000. How much is Dr. Ashton worth? Is he wealthy? According to one definition, he is, since his net worth is $1.1 million. But he is not wealthy according to our other definition. Given his age and income, he should be worth more than $3 million.
With his high-consumption lifestyle, how long do you think Dr. Ashton could sustain himself and his family if he were no longer employed? Perhaps for two, at most three, years.
HOW TO DETERMINE IF YOU'RE WEALTHY
Whatever your age, whatever your income, how much should you be worth right now? From years of surveying various high-income/high-net worth people, we have developed several multivariate-based wealth equations. A simple rule of thumb, however, is more than adequate in computing one's expected net worth.
Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.
For example, if Mr. Anthony O. Duncan is forty-one years old, makes $143,000 a year, and has investments that return another $12,000, he would multiply $155,000 by forty-one. That equals $6,355,000. Dividing by ten, his net worth should be $635,500. If Ms. Lucy R. Frankel is sixty-one and has a total annual realized income of $235,000, her net worth should be $1,433,500.
Given your age and income, how does your net worth match up? Where do you stand along the wealth continuum? If you are in the top quartile for wealth accumulation, you are a PAW, or prodigious accumulator of wealth. If you are in the bottom quartile, you are a UAW, or under accumulator of wealth. Are you a PAW, a UAW, or just an AAW (average accumulator of wealth)?
We have developed another simple rule. To be well positioned in the PAW category, you should be worth twice the level of wealth expected. In other words, Mr. Duncan's net worth/wealth should be approximately twice the expected value or more for his income/age cohort, or $635,500 multiplied by two equals $1,271,000. If Mr. Duncan's net worth is approximately $1.27 million or more, he is a prodigious accumulator of wealth. Conversely, what if his level of wealth is one-half or less than expected for all those in his income/age category? Mr. Duncan would be classified as a UAW if his level of wealth were $317,750 or less (or one-half of $635,500).
Who is the prototypical American millionaire? What would he tell you about himself?(*)
* I am a fifty-seven-year-old male, married with three children. About 70 percent of us earn 80 percent or more of our household's income.
* About one in five of us is retired. About two-thirds of us who are working are self-employed. Interestingly, self-employed people make up less than 20 percent of the workers in America but account for two-thirds of the millionaires. Also, three out of four of us who are self-employed consider ourselves to be entrepreneurs. Most of the others are self-employed professionals, such as doctors and accountants.
* Many of the types of businesses we are in could be classified as dullnormal. We are welding contractors, auctioneers, rice farmers, owners of mobile-home parks, pest controllers, coin and stamp dealers, and paving contractors.
* About half of our wives do not work outside the home. The number-one occupation for those wives who do work is teacher.
* Our household's total annual realized (taxable) income is $131,000 (median, or 50th percentile), while our average income is $247,000. Note that those of us who have incomes in the $500,000 to $999,999 category (8 percent) and the $1 million or more category (5 percent) skew the average upward.
* We have an average household net worth of $3.7 million. Of course, some of our cohorts have accumulated much more. Nearly 6 percent have a net worth of over $10 million. Again, these people skew our average upward. The typical (median, or 50th percentile) millionaire household has a net worth of $1.6 million.
* On average, our total annual realized income is less than 7 percent of our wealth. In other words, we live on less than 7 percent of our wealth.
* Most of us (97 percent) are homeowners. We live in homes currently valued at an average of $320,000. About half of us have occupied the same home for more than twenty years. Thus, we have enjoyed significant increases in the value of our homes.
* Most of us have never felt at a disadvantage because we did not receive any inheritance. About 80 percent of us are first-generation affluent.
* We live well below our means. We wear inexpensive suits and drive American-made cars. Only a minority of us drive the current-model-year automobile. Only a minority ever lease our motor vehicles.
* Most of our wives are planners and meticulous budgeters. In fact, only 18 percent of us disagreed with the statement "Charity begins at home." Most of us will tell you that our wives are a lot more conservative with money than we are.
* We have a "go-to-hell fund." In other words, we have accumulated enough wealth to live without working for ten or more years. Thus, those of us with a net worth of $1.6 million could live comfortably for more than twelve years. Actually, we could live longer than that, since we save at least 15 percent of our earned income.
* We have more than six and one-half times the level of wealth of our nonmillionaire neighbors, but, in our neighborhood, these nonmillionaires outnumber us better than three to one. Could it be that they have chosen to trade wealth for acquiring high-status material possessions?
* As a group, we are fairly well educated. Only about one in five are not college graduates. Many of us hold advanced degrees. Eighteen percent have master's degrees, 8 percent law degrees, 6 percent medical degrees, and 6 percent Ph.D.s.
* Only 17 percent of us or our spouses ever attended a private elementary or private high school. But 55 percent of our children are currently attending or have attended private schools.
* As a group, we believe that education is extremely important for ourselves, our children, and our grandchildren. We spend heavily for the educations of our offspring.
* About two-thirds of us work between forty-five and fifty-five hours per week.
* We are fastidious investors. On average, we invest nearly 20 percent of our household realized income each year. Most of us invest at least 15 percent. Seventy-nine percent of us have at least one account with a brokerage company. But we make our own investment decisions.
* We hold nearly 20 percent of our household's wealth in transaction securities such as publicly traded stocks and mutual funds. But we rarely sell our equity investments. We hold even more in our pension plans. On average, 21 percent of our household's wealth is in our private businesses.
* As a group, we feel that our daughters are financially handicapped in comparison to our sons. Men seem to make much more money even within the same occupational categories. That is why most of us would not hesitate to share some of our wealth with our daughters. Our sons, and men in general, have the deck of economic cards stacked in their favor. They should not need subsidies from their parents.
* What would be the ideal occupations for our sons and daughters? There are about 3.5 millionaire households like ours. Our numbers are growing much faster than the general population. Our kids should consider providing affluent people with some valuable service. Overall, our most trusted financial advisors are our accountants. Our attorneys are also very important. So we recommend accounting and law to our children. Tax advisors and estate-planning experts will be in big demand over the next fifteen years.
* I am a tightwad. That's one of the main reasons I completed a long questionnaire for a crispy $1 bill. Why else would I spend two or three hours being personally interviewed by these authors? They paid me $100, $200, or $250. Oh, they made me another offer--to donate in my name the money I earned for my interview to my favorite charity. But I told them, "I am my favorite charity."
"WEALTHY" DEFINED
Ask the average American to define the term wealthy. Most would give the same definition found in Webster's. Wealthy to them refers to people who have an abundance of material possessions.
We define wealthy differently. We do not define wealthy, affluent, or rich in terms of material possessions. Many people who display a high-consumption lifestyle have little or no investments, appreciable assets, income-producing assets, common stocks, bonds, private businesses, oil/gas rights, or timber land. Conversely, those people whom we define as being wealthy get much more pleasure from owning substantial amounts of appreciable assets than from displaying a high-consumption lifestyle.
THE NOMINAL DEFINITION OF WEALTHY
One way we determine whether someone is wealthy or not is based on net worth--"cattle," not "chattel." Net worth is defined as the current value of one's assets less liabilities (exclude the principle in trust accounts). In this book we define the threshold level of being wealthy as having a net worth of $1 million or more. Based on this definition, only 3.5 million (3.5 percent) of the 100 million households in America are considered wealthy. About 95 percent of millionaires in America have a net worth of between $1 million and $10 million. Much of the discussion in this book centers on this segment of the population. Why the focus on this group? Because this level of wealth can be attained in one generation. It can be attained by many Americans.
HOW WEALTHY SHOWED YOU BE?
Another way of defining whether or not a person, household, or family is wealthy is based on one's expected level of net worth. A person's income and age are strong determinants of how much that person should be worth. In other words, the higher one's income, the higher one's net worth is expected to be (assuming one is working and not retired). Similarly, the longer one is generating income, the more likely one will accumulate more and more wealth. So higher-income people who are older should have accumulated more wealth than lower-income producers who are younger.
For most people in America with annual realized incomes of $50,000 or more and for most people twenty-five to sixty-five years of age, there is a corresponding expected level of wealth. Those who are significantly above this level can be considered wealthy in relation to others in their income/age cohort.
You may ask: How can someone be considered wealthy if, for example, he is worth only $460,000? After all, he's not a millionaire. Charles Bobbins is a forty-one-year-old fireman. His wife is a secretary. They have a combined annual income of $55,000. According to our research findings, Mr. Bobbins should have a net worth of approximately $225,500. But he is worth much more than others in his income/age category. Mr. and Mrs. Bobbins have been able to accumulate an above-average amount of net worth. Thus, they apparently know how to live on a fireman's and secretary's income and still save and invest a good bit. They likely have a low-consumption lifestyle. And given this lifestyle, Mr. Bobbins could sustain himself and his family for ten years without working. Within their income and age categories, the Bobbinses are wealthy.
The Bobbinses are quite different from John J. Ashton, M.D., age fifty-six, who has an annual income of approximately $560,000. How much is Dr. Ashton worth? Is he wealthy? According to one definition, he is, since his net worth is $1.1 million. But he is not wealthy according to our other definition. Given his age and income, he should be worth more than $3 million.
With his high-consumption lifestyle, how long do you think Dr. Ashton could sustain himself and his family if he were no longer employed? Perhaps for two, at most three, years.
HOW TO DETERMINE IF YOU'RE WEALTHY
Whatever your age, whatever your income, how much should you be worth right now? From years of surveying various high-income/high-net worth people, we have developed several multivariate-based wealth equations. A simple rule of thumb, however, is more than adequate in computing one's expected net worth.
Multiply your age times your realized pretax annual household income from all sources except inheritances. Divide by ten. This, less any inherited wealth, is what your net worth should be.
For example, if Mr. Anthony O. Duncan is forty-one years old, makes $143,000 a year, and has investments that return another $12,000, he would multiply $155,000 by forty-one. That equals $6,355,000. Dividing by ten, his net worth should be $635,500. If Ms. Lucy R. Frankel is sixty-one and has a total annual realized income of $235,000, her net worth should be $1,433,500.
Given your age and income, how does your net worth match up? Where do you stand along the wealth continuum? If you are in the top quartile for wealth accumulation, you are a PAW, or prodigious accumulator of wealth. If you are in the bottom quartile, you are a UAW, or under accumulator of wealth. Are you a PAW, a UAW, or just an AAW (average accumulator of wealth)?
We have developed another simple rule. To be well positioned in the PAW category, you should be worth twice the level of wealth expected. In other words, Mr. Duncan's net worth/wealth should be approximately twice the expected value or more for his income/age cohort, or $635,500 multiplied by two equals $1,271,000. If Mr. Duncan's net worth is approximately $1.27 million or more, he is a prodigious accumulator of wealth. Conversely, what if his level of wealth is one-half or less than expected for all those in his income/age category? Mr. Duncan would be classified as a UAW if his level of wealth were $317,750 or less (or one-half of $635,500).
Wednesday, July 25, 2007
Win with a Home based Business
Powerful from Robert Kiosaki
Network Marketing-It's an Asset, Not a JobBy Robert KiyosakiI am sometimes asked, "Why do so few people makeit to the top of their network marketing system?"The truth is, the top of the network marketing system is open to everyone-unlike traditional corporate systems, which allow only one person to reach the top of the company.The reason most people do not reach the top is simply because they quit too soon.So why would someone quit short of the top? Most people join only to make money. If they don't make money in the first few months or years, they become discouraged and quit (and then often bad-mouth the industry!). Others quit and go looking for a company with a better compensation plan.But joining to make a few quick dollars is not the reason to get into the business.The Two Essential Reasons to Join a Network Marketing Business:Reason number one is to help yourself.Reason number two is to help others.If you join for only one of these two reasons, then the system will not work for you. Reason number one, means that you come to the business primarily to change quadrants-to change from the E (Employee) or the S (Self-employed) quadrant to the B (Business owner) or I (Investor) quadrant. This change is normally very difficult for most people because of money. The true E or S quadrant person will not work unless it is for money.This is also what causes people to not reach the top of the network marketing system: they want money more than they want to change quadrants.A B quadrant or I quadrant person will also work for money, but in a different way. The B quadrant person works to build or create an asset-in this case, a business system. The I quadrant person invests in the asset or the system. The beauty of most network marketing systems is that you do not really make much money unless you help others leave the E and S quadrants and succeed in the B and I quadrants. If you focus on helping others make this shift, then you will be successful in the business.As a B or an I, sometimes you don't get paid for years; this,a true E quadrant or S quadrant person will not do. It's not part of their core values. Risk and delayed gratification disturb them emotionally.Delayed Gratification and Emotional Intelligence: One of the beauties of network marketing is that it focuses on developing your emotional intelligence as well as your business skills.Emotional intelligence is an entirely different matter from academic intelligence. In general, someone with high emotional intelligence will often do better than someone with high academic intelligence but low emotional intelligence. That explains, in part, why some people do well in school but not so well in the real world. The ability to delay gratification is a sign of higher emotional intelligence. In a recent study of emotional intelligence, it was found that people who could delay gratification often led more successful lives than those who could not. This is why the educational system inherent in a good network marketing opportunity is so important. It's the emotional education or emotional intelligence aspect of their programs that I find so valuable for people.Many people write me and tell me they loved my book, Rich Dad, Poor Dad, but I fear that many of them don't get the most important point of the book: Lesson #1, "The rich don't work for money."Once I have built or bought an asset, that asset works hard to make money for me. But I will not work for money-I will work only to build or buy assets. Those assets make me richer and richer, while I work less and less. That is what the rich do. The poor and middle class work hard for money, and then buy liabilities instead of investing in assets.What Kind of Asset is a Network Marketing Business? Remember, there are two reasons required to be successful in network marketing: to help yourself, and to help others. Reason number one means helping yourself get to the B side of the quadrant.What about reason number two? The beauty of most network marketing systems is that you don't really make much money unless you help others leave the E and S quadrants and succeed in the B and I quadrants. If you focus on helping others make this shift, then you will be successful in the business, If you only want to teach yourself to be a B quadrant and I quadrant person, then a true network marketing system won't work for you. You may as well go to a traditional business school, which focuses only on your becoming a B quadrant person.The beauty of a network marketing business is that your goal is to create assets, which are other B's working under you-and their job is to create other B's working under them. In traditional business, the focus is for the B to have only E's and S's working for them.The type of business I was taught to build is a business with me at the top and E's and S's at the base. I really don't have room at the top for many other B's, which is why in my businesses, I strongly recommend that all my employees look into network marketing as their own part-time businesses. The traditional corporate system really is a pyramid, because there are a few B's and I's near the top, and more E's and S's at the base.A network marketing system is a reverse pyramid: its primary focus is to bring up more and more B's to the top. One type of pyramid, the traditional type, has its base on the ground; the other type has its base in the air. It's a pyramid that pulls you up instead of pushing you down.A network marketing business gives everyone access to what used to be the domain only of the rich.This passage is excerpted by permission from The Business School for People Who Like Helping People, by Robert T. Kiyosaki, with Sharon Lechter, CPA, authors of Rich Dad, Poor Dad.
Network Marketing-It's an Asset, Not a JobBy Robert KiyosakiI am sometimes asked, "Why do so few people makeit to the top of their network marketing system?"The truth is, the top of the network marketing system is open to everyone-unlike traditional corporate systems, which allow only one person to reach the top of the company.The reason most people do not reach the top is simply because they quit too soon.So why would someone quit short of the top? Most people join only to make money. If they don't make money in the first few months or years, they become discouraged and quit (and then often bad-mouth the industry!). Others quit and go looking for a company with a better compensation plan.But joining to make a few quick dollars is not the reason to get into the business.The Two Essential Reasons to Join a Network Marketing Business:Reason number one is to help yourself.Reason number two is to help others.If you join for only one of these two reasons, then the system will not work for you. Reason number one, means that you come to the business primarily to change quadrants-to change from the E (Employee) or the S (Self-employed) quadrant to the B (Business owner) or I (Investor) quadrant. This change is normally very difficult for most people because of money. The true E or S quadrant person will not work unless it is for money.This is also what causes people to not reach the top of the network marketing system: they want money more than they want to change quadrants.A B quadrant or I quadrant person will also work for money, but in a different way. The B quadrant person works to build or create an asset-in this case, a business system. The I quadrant person invests in the asset or the system. The beauty of most network marketing systems is that you do not really make much money unless you help others leave the E and S quadrants and succeed in the B and I quadrants. If you focus on helping others make this shift, then you will be successful in the business.As a B or an I, sometimes you don't get paid for years; this,a true E quadrant or S quadrant person will not do. It's not part of their core values. Risk and delayed gratification disturb them emotionally.Delayed Gratification and Emotional Intelligence: One of the beauties of network marketing is that it focuses on developing your emotional intelligence as well as your business skills.Emotional intelligence is an entirely different matter from academic intelligence. In general, someone with high emotional intelligence will often do better than someone with high academic intelligence but low emotional intelligence. That explains, in part, why some people do well in school but not so well in the real world. The ability to delay gratification is a sign of higher emotional intelligence. In a recent study of emotional intelligence, it was found that people who could delay gratification often led more successful lives than those who could not. This is why the educational system inherent in a good network marketing opportunity is so important. It's the emotional education or emotional intelligence aspect of their programs that I find so valuable for people.Many people write me and tell me they loved my book, Rich Dad, Poor Dad, but I fear that many of them don't get the most important point of the book: Lesson #1, "The rich don't work for money."Once I have built or bought an asset, that asset works hard to make money for me. But I will not work for money-I will work only to build or buy assets. Those assets make me richer and richer, while I work less and less. That is what the rich do. The poor and middle class work hard for money, and then buy liabilities instead of investing in assets.What Kind of Asset is a Network Marketing Business? Remember, there are two reasons required to be successful in network marketing: to help yourself, and to help others. Reason number one means helping yourself get to the B side of the quadrant.What about reason number two? The beauty of most network marketing systems is that you don't really make much money unless you help others leave the E and S quadrants and succeed in the B and I quadrants. If you focus on helping others make this shift, then you will be successful in the business, If you only want to teach yourself to be a B quadrant and I quadrant person, then a true network marketing system won't work for you. You may as well go to a traditional business school, which focuses only on your becoming a B quadrant person.The beauty of a network marketing business is that your goal is to create assets, which are other B's working under you-and their job is to create other B's working under them. In traditional business, the focus is for the B to have only E's and S's working for them.The type of business I was taught to build is a business with me at the top and E's and S's at the base. I really don't have room at the top for many other B's, which is why in my businesses, I strongly recommend that all my employees look into network marketing as their own part-time businesses. The traditional corporate system really is a pyramid, because there are a few B's and I's near the top, and more E's and S's at the base.A network marketing system is a reverse pyramid: its primary focus is to bring up more and more B's to the top. One type of pyramid, the traditional type, has its base on the ground; the other type has its base in the air. It's a pyramid that pulls you up instead of pushing you down.A network marketing business gives everyone access to what used to be the domain only of the rich.This passage is excerpted by permission from The Business School for People Who Like Helping People, by Robert T. Kiyosaki, with Sharon Lechter, CPA, authors of Rich Dad, Poor Dad.
Subscribe to:
Posts (Atom)