The Power of Leverage |
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By: John Lowery Posted: 2006-12-02 22:28:27 |
| I was at a networking event earlier today and the speaker showed on a board 168 - 56 = 112. She than asked the crowd what those numbers represented. To everyone’s surprise she said that it was the hours in a week minus 8 hours a day for sleep. This means that everyone that gets decent nights sleep only has 112 hours of being awake during the week. What does this mean? Well if you’re not already wealthy, or financially independent you will have to figure out a way to leverage your time, unless you want to be working all of the time, giving up all of the things that are important to you.This means you have a 112 hours a week for: work, family, bills, TV, Internet, church, relationships, golf, etc. I sat down one day and figured out that if I made a $100 an hour that would be $4,000 a week working 40 hours. Annually that works out to about $208,000 or $17,300 per month. After taxes it works out to about $2400 per week, if you are able to keep 60% of it. Could you live on $10,000 per month? Keep in mind that I was figuring the most money I could ever make working for somebody else, or if I decided to become a Dr.Let’s say I did a more untraditional business that looked something like this. Month 1 = $20, Month 2 = $40, Month 3 = $80, Month 4 = $160, Month 5 = $320, Month 6 = $640, Month 7 = $1280, Month 8 = $2560, Month 9 = $5120, Month 10 = $10240, Month 11 = $20480, Month 12 = $40,960. The above example is how network marketing works; it also is in line with what the famous J. Paul Getty preached “I would rather make a $1 off the efforts of a 100 people, than a $100 of a hundred percent of my efforts”. The above shows us how many are building a lifetime of income in 3 – 5 years instead of 40 like most of us.The other thing that is great about leverage is you can build an incredible income that can last a lifetime, simply off teaching other how to duplicate your efforts. In other words if I have 10 networkers in my business and each worker is putting in 1 – 2 hours a day, or 5 – hours a week, I am duplicating my efforts, and I am in fact working 55 hours a week instead of the 5, I am really putting in. If I add another 20 networkers to my group, I am now working 105 hours per week, I’m almost maxed out, ha, ha. As you can see from the power of duplication, it’s possible to get to that 200K Dr’s Salary without too much effort, by simply duplicating your efforts. It’s also possible to leverage your time, so you’re spending more time doing the things you enjoy and less time doing the things you don’t. 20% of all millionaires in this country made their millions this way, why don’t you consider it also?John Lowery is a home based entrepreneur who lives in Carlsbad, CA with his wife and child. In addition to John's 10 plus years of marketing experience, he also is a professional musician, and actor. |
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