Concept of Leverage

I would prefer to have 50 people on my team each working 8-12 hours per week, than 1 person working 80 hours per week.  This is called leverage.

In business or in life, having leverage is important. Robert Kiyosaki, author of many Rich Dad books, tells us that leverage is the ability to do more with less. The reason why there is such a big gap between the rich and the poor is because the rich have more leverage than the poor. The more money a person has, the more he can do to use that money and invest in things that make him or her more money. They have an advantage. That’s why if you ever wonder how bogus it is that some people are billions and wonder how hard it is to get to that path, once a person is a millionaire or has millions of dollars, they have a lot more options that they can do with their money to make them more money, most likely through multiple streams of income. It’s probably a lot more making money as well.

A poor person starting at nothing has zero leverage. That’s why it’s harder for poor people to become rich. If you look all over the world, you’ll see that poor people don’t have a lot of ways to make more money. A person with a million dollars would have a lot easier time making a million dollars than a person with zero dollars trying to make the same amount of money, because the first person has leverage, and that is their money, which could be used to produce more money. They are at an advantage.

But it’s still possible for a person with no money to make a million dollars, because money is not the most important type of leverage. What’s more important than money leverage is time leverage. With lots of money, you can make more money, but you can never make more time. With lots of time, you can always use that time to make money. You’ve probably heard the saying, time equals money. What matters is what we do with that given time.

There are many types of leverage – networks, money, time, technology – but the most important type of leverage is your mind. Donald Trump quotes, “Brainpower is the ultimate leverage.” Your mind and brainpower are the same thing.

To have the ultimate advantage, you need to do much as you can to educate yourself and fill yourself with knowledge. You want to be the person with the lever, not the person who is left in the dark. Many people in the world are left in the dark because they do not want to take the effort to learn. There’s always more things to learn. The more you learn, the more leverage you’ll have. The more leverage you have, the more advantage you’ll have. And with a big advantage, it makes life a whole lot easier.

Good and Bad of Network Marketing

Robert Kiyosaki, whose books I read very frequently, describes four primary ways to go into business for yourself.  These are: 1) buy a franchise, 2) join a network marketing company, 3) buy an existing business, 4) start a business from scratch.  Today I’m talking about the networking marketing path to business.

Based on my limited experience with network marketing and from conversations with other business-people, here are what I consider the general advantages and disadvantages:

Advantages:

1) You are your own boss and you get to set your own working hours.

2) Very minimal start-up costs compared to starting a franchise/brick and mortar business.

3) Established infrastructure, system, and business plan.

4) Regular motivation in form of seminars/audios/success stories, but the extent of training programs depends on the company you are with.

5) Presence of a sponsor or mentor to guide you throughout.

6) Potential to develop a residual income.

Disadvantages:

1) Certain companies may limit your creativity by putting some restrictions on advertising/marketing.

2) Though you are your own boss, you may have to periodically attend seminars/meetings.

3) You may or may not like your sponsor’s or company’s overall attitude.

4) You may have to compete with your peers in your area/region.

5) You have to be an effective speaker.

6) Some may get intimidated (typically those with low self esteem) by attending seminars/meetings.  Though with continued training, confidence and self-esteem should get better.

In this economic environment and current recession, it seems many people are looking for an alternative to the usual “corporate job”, and turning to some sort of home-based business.  Network marketing is one business vehicle which can offer a solution.

Hello world!

Hello to everyone,

Dr. William Kwik here.  To my friends and family, call me Bill or Will.  To my clients, call me Dr. Kwik. This is fantastic.  I am really excited to be blogging, I have heard great things all over internet-land about having a blog and to have it be the hub of activity.  I have only done a blog intermittently in the past.

What are my main projects now?  In the very near future, I will be seeing patients at a new location.  I am also exploring a few options for network marketing companies.  My vision for myself is to: (1) continue my optometry practice full-time four or five days per week; (2) manage my network marketing business part-time.  For the latter, I want to leverage my time properly and build significant residual income.