Becoming a Millionaire – 10 May 2009

I know a ‘million’ is not what it used to be. In fact, there are at least ten million US$ millionaires. YET the term ‘millionaire’ still has BIG marketing appeal to most people. Maybe because many people have achieved millionaire status, it makes it more exciting to the masses because it seems more achievable.

Every business builder in our industry has a 100% chance of becoming a millionaire, the challenge is getting them to understand why this is true.

The first point to realise is that I said ‘100% chance’. Not guaranteed. I know its stupid to have to even say this yet I need to.

Second point is that this chance is ONLY true if you focus people on learning FIRST. Only by learning skills first do the bulk of people have a chance of success.

Third point is ‘millionaire’ means two things; you have a million dollars in assets AND it means you have a ‘millionaire’ lifestyle. You have to ‘have it’ and ‘live it’ – who cares if you make plenty of money yet live like a pauper!

A ‘millionaire’ lifestyle is what? Freedom in how you work. No boss telling you want to wear or do. International holidays. Hey, welcome to success as a leader in this business!

And a million dollars in assets is simply property, businesses or another income stream valued at a million.

A million dollars in cash in bank should pay you about $50,000 per year, a property should pay you more, maybe $70,000 and a business [which requires little effort on your part], should pay you $100,000.

I know that anyone in a good network company can create a residual income from their business that can earn them $100,000. They become what I call TEAM Leaders. They are not the superstars, they are the middle management of our industry and $100,000 per year after costs, if achievable.

A couple of years of hard work to build an independent team producing a residual income of $100,000 per year and live like a millionaire for life!

Build it RIGHT so its residual. Build it BIG so the network is excited. Build it strong by building leadership.

Lesson – if you want to be a millionaire, become a TEAM Leader in this industry.

Rock ‘n roll!

Ed

Leadership Coach

1 Response to “Becoming a Millionaire – 10 May 2009”

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