Financial peace can be an elusive concept to those who have only one stream of income, especially if it is generated solely through trading time for dollars. In the eighties, when I first learned about multiple streams of income, I began supplementing my consulting work (time for dollars) with residual income (generating money long after my initial investment of time or dollars). My first experience of residual income came after writing a book in 1984. What fun to still receive royalty checks decades later!
While network marketing is in itself a residual income business, the way we conduct our business can multiply our time investment. Some networkers are recruiting machines, focused on constantly bringing in new customers or distributors to replace those falling out through the hole in the bucket.
Those who take actions to build strong relationships and customer loyalty usually find themselves in a stronger financial position in the long term than the massive-action recruiter who doesn’t take the time to build community.
When my wife Marian Head started our network marketing business fifteen years ago, she read John Kalench’s book, Being the Best You Can Be in MLM, and was struck by his statement that while many are looking to make a million dollars in this business, his vision was to make a million friends. Many of our best friends have become our customers and business associates—and many customers and business associates have become our best friends. I am grateful for this on many levels, including how it got us started on a path of financial peace.
Yet putting all our eggs into the network marketing basket didn’t seem like a good idea. Years ago, at a time when our network marketing income was 90 percent of what we earned, we realized that any one stream of income—even a residual one—could not give us true financial peace. So Marian and I created a compelling vision of duplicating our growing networking income with other sources of residual income. Having accomplished that, we now spend about six hours per week maintaining and building our networking business and the rest of the time on the many other things we enjoy.
Seven years ago, I played Robert Kiyosaki’s Cash Flow 101 board game every week for three months (as he recommended), and since then I see opportunities everywhere. Before engaging in a project that requires my time or money, I ask myself, “What’s the long term payoff for my actions today?” I seldom commit effort to anything that is going to give me only short-term payback (financially or otherwise). My multiple income streams now flow like tributaries into a river of financial peace. Due to the changing economy, one of those income streams nearly dried up recently, so I am grateful for those that still flow freely.
As a student of Networking University, you are learning all about residual income and financial freedom. As you move through the different courses and become a leader in the profession, you are able to support others in diversifying their investment of time and dollars. While our needs for financial peace may be different, I’m here to support you as you build the financial foundation that serves you.
Isn’t it great that we have each other? I love the collaborative nature of our profession, incentivizing us to help each other create our dreams. Can you imagine how the world would be if everyone had financial peace? Consider the profound systemic impact our business could have. Be proud of our profession and your role in it! Use this University to strengthen your ability to make a difference in your own unique way.
Remember: education changes everything.
See you in class!
Dean, Networking University
P.S. Networking University currently has students and Webinar participants from all over the world, including from all fifty United States, Australia, Austria, Bahamas, Barbados, Belgium, Brazil, Canada, China, Colombia, Denmark, Finland, France, Ghana, Germany, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Israel, Italy, Jamaica, Jordan, Korea, Luxembourg, Malaysia, Mexico, Nepal, the Netherlands, New Zealand, Norway, Philippines, Romania, Russia, Singapore, South Africa, Spain, Sri Lanka, Sweden, Taiwan, Tanzania, Thailand, Uganda, United Kingdom and more.