Wealthy people do not work for money; their money works for them. The most important step to becoming wealthy without working a great deal is to enhance your current thinking. If you change your thought you will change your life.
As long as you maintain your current view of working hard for money, you'll keep yourself trapped in a life of "financial limitations." However, if you will adopt some simple "mind shifts", it's like turning the key in a door that opens a new world of "overflowing financial opportunities."
First Mind Shift: From linear-income mentality to residual-income mentality
You have to stop renting your brain out to the highest bidder. As long as you're selling X hours for X dollars of salary, you'll stay stuck in a "linear trap" - which means, when you stop working, the money stops coming in. Robert G. Allen says, "When you produce something, you must own a piece of it somehow." And the best type of ownership is a lifetime stream of residual income.
Second Mind Shift: From singular source of income to multiple streams of income
We're not living in the '50s - when a family could survive on one income. And it's not even the '70s or '80s - when two income streams were needed. We're in the 2000s - when multiple streams are needed. Why? Because of the security that comes from a cushion of sources. "But make sure," Robert points out, "that your streams come from diversified sources, and from completely different economic activities."
Your own money tree... plant it and get rich
Becoming wealthy is like planting your own "money tree" and watching it grow. Let me show you what I mean...
What I'm talking about is an "instant" financial money tree that keeps growing and bearing fruit - year after year - with little effort on your part.
Before you invest your time and effort in something, you first need a yardstick to measure its potential. That's where the money-tree formula comes in.
With it, you'll quickly spot which avenues will create lifetime streams of income and which are just dead-end ways to make a few bucks before they peter out and die.
The money-tree formula is made up of nine ingredients. Together, the first letters of each ingredient spell the words money tree. Here they are:
M - Multiple Streams of Income. Your first goal is to add another stream of income to your life as a safety net for when other streams of income dry up. But it's important that it becomes a source of multiple streams all by itself.
O - Outstanding. If your product, service, or information isn't distinguishably excellent, it will eventually become a casualty of competition. The secret of creating a money tree is to do the work just once and to have the money flow for the rest of your life.
N - Nothing Down. Why risk investing your money when there are lots of things you can do with little or no money down? Stay clear of anything that requires large outlays of cash - and that includes franchises. There are better ways to make money that don't need you to be there, that can easily give you a lifetime of "walk-away" money - and they're yours for nothing or very little down.
E - Employee-resistant. You don't want employees. They can be costly, as Robert Allen discovered. He once had more than 200 employees. When he tried to downsize, he was faced with a $500,000 age-discrimination lawsuit. Also, employees are a company’s largest expense and the source of the majority of all problems.
Y - Yield. Unless you stand to make some serious money, forget it. In Robert Allen’s “Multiple Streams of Income”, he shares the story about his secretary who started a home-based network marketing business, and in less than a year she was making more than $100,000 per year. It was a real money-tree business because it generated cash flow to her even if she stopped working. The business that she started was USANA.
T - Trend and Timing. Starting a business against the trend is like swimming upstream against the current. It's hard work. But when you choose a business that is with the trend, it's like floating downstream with the current.
R - Residual. This one is the most important ingredient for building a lifetime flow of easy money. Remember, your aim is to have money flowing to you when you stop working - year after year.
E - Essential to Everybody Every Day. Whatever you sell, try to pick something that's essential, or is perceived as essential, by a large segment of society.
E - Enthusiasm. The more enthusiasm you have for what you're doing, the more successful you'll be at it. Find something you love.
USANA is an outstanding way to plant your own MONEY TREE that can provide a live time source of residual income weather you continue working or not.
More to follow. . .
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