Just as your car gets you from point A to point B, your business vehicle does the same thing.  Look at your business vehicle as a means to get to your result.  First ask yourself, “How can I get…..”  This could be anything.  Get out of debt, be your own boss, spending more time with your family, not live paycheck to paycheck, taking control of your life, etc.  After you outline what you want, you will need to choose a vehicle.  I talked in an earlier post about your own ideas and thoughts.  This is just one of many vehicles to choose from.  While moving your ideas to and end result may take a lot of time and money, you can tap into other resources or systems that are already set up.  These may include real estate or buying your own franchise.  The vehicle I chose was network marketing, which is essentially buying your own franchise, but with a fraction of the costs.  It could costs hundreds of thousands of dollars to start up a traditional franchise like a McDonald’s or Subway.  Plus for certain franchise’s you must have a certain net worth (assets) before buying, which is generally way above what the average person has. 

My reasoning for getting into network marketing was I knew I had to find a way out of the rat-race and stop living paycheck to paycheck.  I wanted to take control of my life.  I did a lot of research and found that in order to get my results I needed to create residual income and leverage my time.  A perfect match for network marketing.

There are two types of income, residual and linear.  The most common is a linear income, which comes from the employee side or a job.  You work one hour, you get paid for one hour.  If you don’t work, you don’t get paid.  Residual income is income that you receive many times for your efforts.  For example, if you write and publish a book, your effort to write the book will pay you for years after you put the book into circulation.  A singer gets paid residual income from the albums they produce and sell, an individual who rents property gets paid each month for the rent they collect.  This is the type of income entrepreneur’s strive for because they get paid when they are not working.

To leverage your time you must create a network or team in which works towards a common goal and you get paid for their effort.  If you are an employee you can only get paid for 100% of your own efforts.  You only have so many hours in day to get your job done.  When you leverage your time with a team you get the same 100%, but everyone contributes the time.  May be a little complicated, but I’ll explain.  I’ll use the forty-hour work week.  Let’s say you have a team of four people which includes you.  If each person works ten hours a week, you get the same forty hours while only working a forth of the time.  Now let’s say you have five on your team including you.  Using the same scenario, this would produce fifty hours per week. So if you were to take a week vacation, your team would still produce a forty hour work week, while you are getting paid on vacation.  This is true leverage.  This is just using an example of a small team.  Use your imagination on what could happen if you had a massive team.

To your success,

Largent