How You Can Become a Millionaire

Fore note: This is a re-post from http://thegreatestnetworkers.com

Before you read this post, listen to this short [04:02] audio clip right away.


This one is Richard Brooke speaking about the “Wealth-building attributes of Network Marketing.” It’s brilliant and a classic. It’s included in the Audio Interviews & Transcripts.

Transcript
There just isn’t any other economic business vehicle where a person can get started for a few hundred or a thousand dollars, on a part-time basis and three or four years later, have a net worth— because of their residual income— in the millions.

Somebody goes to work on a part-time basis. Three or four years later, they’ve got a residual income of let’s just say $5,000 or $10,000. It’s residual, because of the way they built it and the company they built it in.

Residual meaning, if they chose to, or something happened in their life and they had to quit managing and driving the group, would their income at least stay the same?

Now in many organizations, many companies, it should grow. Why? Because at the lowest level in the geometric progressions, they haven’t built anything yet.

So if they start building out their next level, the organization just grew by three or four or five times. It should grow geometrically, but if just stayed flat, you would have residual income.

Five thousand dollars a month in residual income provides you with a net worth at today’s interest rates of $3-$4 million.

Under a normal interest rate scenario, at least $1 million. Ten thousand dollars a month, $2 million.

How do you equate that?

Well, how much rental real estate would you have to own, free and clear, no mortgages, to have rents net to you after management maintenance of $10,000 a month? You’d need at least $2 million worth of rental property if not $3 million or $4 million.

Or how much money would you need in equities, cash, bonds, dividend-paying stocks to get a five percent annual return? You’d need $2 million to get $10,000 a month.

Think about in the lifetime of people saving and investing and the risk in real estate and equities, the risk of investing in a company that one day “Forbes Magazine” and the President of the United States and “USA Today” and “Wall Street Journal” says is the next phenomenon in business.

Six months later they’re bankrupt, their stocks are not worth anything and people are going to jail. Think about the risks of investing in equities and real estate and how long it would take somebody to amass a fortune of $2 million.

For most people it would take a lifetime of discipline, sacrifice and very good timing and very good fortune.

You can do the same thing in four or five years in the right Network Marketing company with the right product, building it the right way.

Huge relationships with people, servant leadership, building an organization that at some point they don’t look to you anymore. They’re looking to themselves and they’re looking to their group. They may want you and appreciate you but they don’t need your leadership anymore.

When you’ve built that, you’ve built a net worth in the millions of dollars. There’s just no other way to do it in our society and our business model and our economy. It is light years more efficient and faster and more accessible to the masses than real estate or equities.

I just love the wealth-building attributes of Network Marketing.