In my last two posts, I talked about money and time. I think it would be interesting to write about the time and wealth creation. I have found this quote and would like to share with you:
“Time is the coin of your life. It is the only coin you have, and only you can determine how it will be spent. Be careful lest you let other people spend it for you.” ~ Carl Sandbury
Time & Wealth
I believe that it is not rocky science for people to realize that if we would like to experience wealth, we need to have the skills to create it.
We has to get educated about what are the essential skills for wealth creation.
For those who have accumulated some wealth can create more wealth through investing their wealth. Commonly used investments include buying shares and investment bonds. The investment in property is another strategy that many people use to create impressive portfolios. With the income coming from rental properties, the landlord can enjoy his or her time because there is no ‘active’ work involved in order to receive the rent.
For people who do not have the start up capital, how can they create more wealth?
Instead of investing money to create money, they can invest their time to create money.
A good example is Network Marketing. For most network marketing programs, the start up can be as low as under $100.
For those who are really financially challenged, it is not a bad idea to sell retail to earn some instant cash. As soon as the cashflow issue is contained, work strategically towards a ‘break-even’ point. This means that the income cheque is equal to the monthly investment of the products. From this point onwards, there is no worries about the overhead that many traditional business owners have to face. Isn’t this a much wiser way to run a business?
As long as the distributor continues this wealth creation process, there is a continuous flow of income.
While the income created seem minimal at the beginning, the business turnover can be substantial when this ‘pattern’ of creating goes beyond you.
Over time, rather than just one person bringing in business for the network marketing company, there are lots of teams (of more teams), all bringing in business for the same company.
From an initial of just a few key leaders, the organization can grow exponentially. This is called ‘leverage’.
The Time Factor – EACH person who starts his or her own Network Marketing business only works a finite number of hours per week. Yet, the wealth created is many fold.In a team of 100 people, each working 10 hours per week, the productivity is 10,000 man hours! Somewhere, there are team members in the organization who are productive!
Passive Wealth Creation
This brings us to the concept of ‘Passive Income’.
The commission received from the network marketing company increases as the organizational sales volume grows through teamwork and support.
Team Growth occurs at two levels –
(a)linearly as the distributor herself continues the active enrollment of new distributor or customers, and
(b) exponentially as some new team members enrol new ones…. and some new ones enrol more new one (distributors or customers).
For a well established distribution organization, team members can grow to thousands and tens of thousands. That is when network marketers are paid a handsome amount of $10,000 or more a month in commission. A network marketing leader once joked about his business going from ‘controllable’ to ‘uncontrollable’. Isn’t this interesting?
The Time Factor – with a well developed team system, the distributor does not have to work non-stop in order to bring in more business. The team growth continues because there are leaders operating their independent distribution channel independently. EACH doing the right steps and developing more independent leaders. This is Time Leverage.
Creating Time Freedom
By initially investing time, the network marketer now has MORE time!
The business continues to grow as the original leaders develop themselves into even more committed leaders! More leaders are created from the initial few leaders.
Can you imagine the joy of running a business a simple proven system like this?
How would you spend your time when you do not have to actively exchange your precious time for money?
Do you reckon that this Wealth Creation Journey can help you to create more time, more freedom and a more meaningful life?
Time Leverage Stories from YOU?
Do you too have a time leverage story to share. Readers benefit most when real life stories are shared. Please contribute.
Have you got any other insights or experience to share regarding concepts like ‘Leverage’ and ‘Time Freedom’?
I look forward to your say!