A note from peter@thewealthyattitude.com for Monday January 19 2009
Good day everyone and welcome to Monday.
Firstly, my sincere thanks to all who shared with me how Friday's video's featuring Nick Vujicic touched you. Your reflections served to re-affirm me that there is greatness among you all, compassion lives within you, and there exists a commitment to leadership deeply in the community that lives The Wealthy Attitude. Again, my deep thanks for all the perspectives you reflected.
Now, as The Wealthy Attitude unconditionally supports the home-based business community, it's become blindingly clear that the network marketing profession is getting a whole new look from people who are adversely affected by the current economic conditions. People who had previously dismissed this vital and vibrant industry are now looking at it as the mechanism that could save their financial futures. Wow, who would have thought that?
The industry of network marketing, for over sixty years, has generated more millionaires than any other profession. It does today sustain more families, gives more people opportunities, training, like-minded community than any other business. Now that's worth talking about.
Today we have an offering from one of our very favorite contributors. Jan Janzen is not only a reknowed writer and professional speaker, she is also a specialist and uncompromising advocate for serious network marketers. You'll enjoy what she has to share today.
Most people know Robert Kiyosaki as the author of Rich Dad, Poor Dad. This multi-millionaire, author, educator and business guru has made a massive impact on millions of people around the world. Although I first read Rich Dad, Poor Dad many years ago, I feel like some of Robert´s teaching are just beginning to impact me today.
One of Kiyosaki´s basic teachings is that there are four quadrants: the E quadrant (Employee), the S quadrant (Self-Employed), the B quadrant (Business) and I quadrant (Investor). Probably most of you fall into the S quadrant because you are self-employed. It´s the quadrant where I have been for most of my entrepreneurial life and it´s not where I want to be anymore. It´s very likely not where you want to be either once you understand the significance of the B quadrant. So what is the difference?
As you may be only too aware on many days, being an entrepreneur isn´t much different than having a job. You´re tied down. There are lots of obligations. You can´t just pick up and go like you want. And oftentimes the money isn´t what you expected. I´ve had many days, weeks, and months over almost 3 decades of being an entrepreneur where earning minimum wage at a job would have surpassed my entrepreneurial income! The S quadrant is usually about trading time for dollars such as in the case of a coach, consultant or workshop facilitator.
The B quadrant is the arena of big business. Forbes magazine defined a B quadrant business owner, as a person who controls a business with more than 500 employees. You are leveraging your time and energy so you have much more freedom financially and time-wise. Companies with employees and/or freelance consultants are in the B quadrant. So how can you get there without having several million dollars to invest. It´s actually very easy.
I recently listened to an interview with Robert on the B quadrant qualities of network marketing. It was a real eye-opener. Who would have thought that MLM is a B-quadrant business? Well, according to Robert, it is. Why? Here is his criteria for a B quadrant business.
Leverage:
Can I train other people to work for me?
Control:
Do I have a protected system that belongs to me?
Creativity:
Will the business allow me to be creative and develop my own personal style and talents?
Expandability:
Can my business grow indefinitely?
Predictability:
Is my income predictable if I do what is expected of me? If I am successful, and keep expanding my business, will my income increase with my success and hard work?
In network marketing, people have the ability to build what is known in the industry as downlines. A downline are people who leverage your time and energy. They duplicate your efforts and for that, you get rewarded monetarily. So no longer are you trading time for dollars. You may invest in a person, train them, help them get established and they can continue to earn you money for years to come.
I know many network marketers who have built powerful teams and basically "retire", possibly building other B quadrant businesses or going on to live the life of their dreams. What is impossible in the S quadrant becomes very doable in the B quadrant as you are no longer trading time for dollars with no leverage.
It´s true that entrepreneurs learn to get more money for their services than an employee. For example, as a coach, I can earn substantially more money per hour than a woman who works at a grocery store for $10 per hour. That´s a good thing. You probably do the same in your business. However, even better would be to leverage your income by creating products, promoting other people´s products, becoming an affiliate of a service that pays you for referrals and/or duplicating yourself through MLM - all systems which allow you to take yourself out of the picture.
That´s the power of network marketing according to Robert Kiyosaki. With a small investment of less than $300 in most cases, you can buy the opportunity and the system to build yourself a B quadrant business. I know people in the network marketing company I am currently working with that are earning seven figures in their second year. I don´t know many jobs that allow you to do that and I know few entrepreneurs who reach those levels of financial goals. As a matter of fact, I recently heard on a teleclass with a millionaire that, according to her findings, less than 6% of Americans earn a six-figure income, and less than 1% make more than $365,000 a year.
Yet I have seen consistently in network marketing that people with no degree or formal education, people with severe health issues, single parents and people with obvious language handicaps, who have excelled in network marketing. It´s like they have finally realized that this is an arena where they can just go for the gold - literally! There are no glass ceilings and no time constraints.
Let me tell you, I would never have thought that network marketing would qualify as a B quadrant business. My mind would have gone to the Dells and Microsofts of the world, the Virgin enterprise or even the local grocery store chain. However, when I considered that the most important element of a B quadrant business is that I own a SYSTEM to create income, then I began to seriously look at how I can continue to grow my B quadrant business. I am also looking even more carefully at more ways to systemize my S quadrant business, thereby moving it into a B quadrant business. This is the focus of my business plan for 2009.
I highly recommend that you take time to look at your business this month and see how you can move from the S quadrant to the B quadrant.
To Your Outrageous Success,
Jan
You can check out what Jan is doing at: www.janjanzen.com
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