subject: If Youre Dead-Serious About Succeeding In Your MLM Home Business This Is A Must Read [print this page] If Youre Dead-Serious About Succeeding In Your MLM Home Business This Is A Must Read
If you're reading this post, I'm going to take the liberty of assuming your dead-serious about succeeding in your MLM home business. And if you've read my other posts or articles, you'll notice that I typically post information on marketing, mindset, leadership, building techniques and attitude. But in this article, I'm going to give you some information that was given to me early on in my career that isn't usually talked about, but is critically important if you want to succeed in business. It's not the sexiest topic, which is why most uplines (not all, but most) don't talk about it or properly coach their team members about it. No matter what company you're in or what product you're marketing, it's important that you take this topic seriously.
Alright, here it is: Save, save, save your money!
I've been in the industry for 13 years... and I've seen a lot of things. I've seen people living some amazing lifestyles, I've been on some crazy vacations and I've seen leaders making some insane incomes. Personally, I've been blessed financially because of this industry and the quality of life my family lives is pretty darn stress-free. With that said, I've also seen some network marketing horror stories. Without going into too much details, almost 95% of these horror stories were caused by poorly managed personal finances. In a nutshell, reps didn't save their money. In fact, they did just the opposite. They splurged and didn't bother to manage their money well... and sure enough, it came back to haunt them. Too many times in this industry, people want to portray a certain lifestyle at the expense of their personal finances. I've personally seen network marketing "leaders" who drove expensive cars and wore $1,000 suits but were 1 or 2 bad months from losing all of it. Now, I'm not saying you shouldn't have nice stuff or "sell" a certain lifestyle... I can appreciate good promoting. But, what good is it to try to sell a dream to your prospects if you're personally living a personal nightmare at home?
I thank God everyday that I was fortunate to have mentors that always taught and trained in front of the room about this topic. I can remember my mentors telling me to save money even before I was making "BIG" money. The general rule of thumb is to save 25% of your check.... no matter what size of the check. For example, if you get a check for $100, save $25. If you build this small habit, when you make $10,000 in a month, you'll save $2,500 of it. And if you build your business big and start making $10,000 a week, you'll save $2,500 of it weekly. Yes, this takes discipline, but do you want to get "financially bullet-proof" or not? I remember a young guy who was able to save $1 million cash within 5 years of getting started. That's what I mean by being "bullet-proof". No matter what happens in your business, your company or the economy, you have the piece of mind that all your bills will be paid and you have 3 to 4 years of all your bills being paid even if you didn't make a dime.
Early on, one of the most impactful things my mentor ever did was sit me down to teach me the importance of saving my income. He told me, "Jaime, you may not be impressed with my car or my clothes... But if you want me to impress you, check this out." He then pulled out some of his account statements he had in his presentation binder. I was beyond blown-away and from that moment I made it a point to set aside a portion of my checks and "Pay Myself First".
In closing, this is probably a topic you won't hear about again. And you'll probably forget it in the next 15 minutes. But if you're dead serious about succeeding in business and getting wealthy, you better save your money! After all, have you ever heard of someone building true wealth (not someone who won the lottery and lost it all 12 months later) who didn't save their money?
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