I’ve made millions in network marketing, I’ve made millions through investments,
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Network Marketing professionals often ask me how to manage the profits earned from their MLM income.
Can you make more money by diversifying into investments such as stocks, bonds,
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There are three items to think about when answering this question for yourself.
A,
http://mengerlerboschservice.com/imtemp/ht62lp87.html. What else would you do with your time,
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B. What else would you do with your money,
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C,
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Every investment (stocks,
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Probably what’s most important here is,
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I was listening to a radio talk show about 10 years ago and the advice given was to "Select the top three stock market sectors based on trends. Put one third of your investment capital in each. Wait 10 years and you should be wealthy off your passive investments." I was making about 50 thousand dollars a month above my expenses so I thought,
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I chose the following sectors: Health Care, Technology, and Telecommunications. After losing about half of my money I changed to three different sectors. I looked at my portfolio today and I have lost another $11,
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Don’t get me wrong; there have been times I’ve made over $50,000 dollars in the stock market in a day. Fun! And there have been times I’ve lost $150,
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In addition to that,
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The only thing that has remained very stable and predictable is my network marketing income. Had I taken the same amount of money,
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So what about the "Rich Dad Poor Dad" philosophy of "Buy assets that produce more income?" Or the more common way it’s stated, "Create multiple streams of income?"
As you may know,
9038, I created a prospecting tool based on that philosophy where I explain to prospects how wealth is created by investing in assets. Whether that be your MLM home based business or your pinball machine business.
Two common mistakes in making decisions on A,
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1. Making decisions based on now vs. decisions based on future. Of course you need to pay your bills now. They’re screaming at you! But keep in mind what I talk about in Brilliant Compensation it’s not faster (in the long run) to tie your young son’s shoes than teaching him how to do it himself. If you tie his shoes for him you silence the screaming urgency,
http://editions-caruhel.com/imtemp/gi26jo79.html, but you’re still stuck with the job UNTIL you teach him to tie his own shoes. When you make financial decisions make sure you’re looking at the long term. Residual income that can be generated from an MLM business is sweet.
2. Making decisions based on "could you" instead of what you "will you" do with your time,
http://www.szzjn.com/imtemp/hr75dw07.html ws71, money or attention. Example: A guy determines that it’s a poor use of his time and attention to mow his own yard, so he hires the boy down the street to cut his grass. Now, what does he do with that extra time (A),
http://www.szzjn.com/imtemp/ql64jb18.html, and the extra attention (B)? He watches TV. Bad choice. When he was making the decision to hire the lawn boy he thought,
http://lawsharp.user.d-jet.com/imtemp/ft19mp26.html, "It’s a waste of my time to mow the grass when I could be doing more important things like building my MLM business." Make sure when you free up any of the three resources you use them wisely.
Summary: My personal opinion is invest your time,
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Continually reinvest your profits back into your network marketing business by promoting it more,
http://www.szzjn.com/imtemp/kz79sz20.html, that’s where the high return is. By business I’m including all investment activities as well. Then focus your time, money and attention (from the surplus only) on knowing THAT business.
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