Top Three Rules For Financial Independence

TheStreet.com reported on January 9, 2004 ¹ "The economy created a mere 1,000 jobs in December, much less than expected and the worse showing in months. The consensus view of economists was for 140,000 new jobs, following lower-than-expected job creation in November, which was revised lower to 43,000 from 57,000."

The sad part is, attrition in major industries is still rolling strong and more jobs are disappearing every day.

When times are tough and the economy is down you'll find many individuals turning to other ways for earning extra income.

Some will return to school part time (or even full time) to increase their skills in the hopes they can advance their careers. Some will get a part time job, hoping the extra income will at least help them beat the "not enough month at the end of the money" rut they have fallen into.

Most have one fatal flaw in common - they are running their lives trading hours for dollars.

First Rule To Financial Independence... Profits Are Better Than Wages

When people wake up to the fact they want more in life, many begin their journey to enlightenment by starting their own business. And more than 90% of them will fall into the trap!

What trap? They'll spend thousands and thousands of hours researching what they need to start their own business, spend thousands of thousands of dollars to pour into it, and how many of those businesses will survive AND profit? The last statistics I read were less than 3% will survive and be profitable after their 5th year.

But there's a bigger trap. You see, many of them will still be trading hours for dollars, and that's where the second rule needs to come in...

Second Rule To Financial Independence... Residual Income Is Better Than Profits

Think about it. If you could sell something once, then keep getting paid for it over and over again, doesn't it make sense this is far better than a one time profit for your hard work? Of course it does!

Okay, let's take a look at one scenario... the recording industry. I'll use a rock band for this drawing from my former background as a talent agent for more than 15 years in the music industry.

The typical rock band has a "life span" for its materials. Most industry managers won't speak about it... but they know, you have 5 good years when a band reaches the charts to get the most out of it for residual returns later down the road.

Typically, the band has footed most of the bill for the first album. Generally speaking, they've also received some advances against it. And even more common, most bands won't see a return on their recording profits until their third successful album. (I'm not talking about merchandising products like t-shirts, caps, etc.)

If they don't produce enough albums in that 5 year window, their potential residual income can look pretty slim ...to almost none.

Yes, fame does not necessarily mean financial success.

If most of those bands who end up as one-hit wonders had chosen to go beyond their creative ideals and discovered the next rule, they would all be at least enjoying more fruits for their labors through potentially higher residual incomes...

Which brings us to the third rule...

Third Rule To Financial Independence... You Must Leverage Your Time And Resources

Ahhhh... some are getting it! Yes, leverage plays a key role. But how can you do this effectively when you are just starting out? Here's a better question...

How can you incorporate all 3 rules into one plan of action to speed up the process for attaining financial independence?

Network Marketing Makes Perfect Sense!

With the right company, with a strong product, with a hot target market, with a strong compensation plan, ...in this writer's humble opinion, Network Marketing makes perfect sense.

But before you jump, remember I said the RIGHT company. Don't forget the numbers ..."less than 3% survive beyond their fifth year"... and take a close look at the strong product/strong market part of the equation.

Think about it. The right company has already done it's homework, tested the product, is financially strong, has a proven track record, a generous compensation plan ...by the time you find them, they've taken all the hard work out of building your own business and set up the opportunity by having all three ingredients: ...PROFITS ARE BETTER THAN WAGES... ...RESIDUAL LIFETIME INCOME... ...A PROVEN SYSTEM TO LEVERAGE YOUR TIME AND YOUR RESOURCES...

Oh sure, you can go off and try the "build your own business approach" hoping you are in that top 3% margin 5 years from now... Or you can keep trading your hours for dollars and hope the dollars go up faster than the time flying by... Or you can take a serious look at Network Marketing as a means to get the independence you seek.

It's your move. Which way to do you want to go with it?

Here's To YOUR Success The Simple As ABC Way!