Understanding Wealth and How to Build it
How do we get rich? Earn more. Understanding wealth is simply earning extra income. Extra income earned from Network Marketing makes us wealthy.
Let’s learn how to build wealth.
Ask ourselves, “What kind of investment program could we have if we had an extra $1,000 a money to invest?”
The good news is we don’t have to be experts. We can find financial advisors who are willing to help us understand and build wealth.
Is it hard to earn an extra $1,000 a month in our Network Marketing business? If we invest time to learn skills and learn how to build wealth correctly, then YES, it can happen. Understanding wealth is easy. Building it with Network Marketing is easier.
Make our lives easier by learning the skills to build our Network Marketing business, and then seek out financial advisers to helps build wealth.
Learning how to build wealth in your 20’s is the same as learning how to build wealth in your 40s. You must start somewhere no matter the age.
The secret of understanding wealth and how to build it is the skills we learn. Learning how to recommend what we like and talking to others are skills not often taught in school. Once we have the basic skills of talking to people correctly, we can grow our business much more consistently.
Wealth is portable. It resides in our heads. Money, property, and other assets can be lost. But real wealth will come from the assets we always own: THE SKILLS WE MASTER.
Understanding wealth is learning skills and learning what makes success.
What Makes Success?
Success isn’t working at someone else’s corporation.
If we want to be rich, limiting our income to a salary or hourly wage is not the first step to understanding wealth or creating wealth.
If we want more time to live our own lives with wealth we create, working five to six days a week at a job for the next 40 years is not a good plan.
So, let’s learn how to build wealth fast.
Are there guidelines to creating wealth? Yes. Understanding wealth is to understand the guidelines. Whether you want more time or more financial freedom, the guidelines to create wealth are roughly the same.
Wealth Secret #1.
Don’t ask for advice from someone who is not rich.
Would you take driver’s license from someone who does not know how to drive? Would you learn how to be mechanic from someone who does not know anything about cars?
Of course not.
So, we want to start our successful Network Marketing business. Who do we go to for advice?
— Some friend at work who barely can pay his bills?
— A fellow employee who never started a Network Marketing business?
— The professional beer chugger at the local bar?
— Our uncle who went to work for 40 years and now watches television 16 hours a day?
If we want good advice to get rich, we should look for someone with experience in where we are going.
Find out what poor people are doing and reading, and don’t do it or read it.
This brings us to guideline #2.
Wealth Secret #2.
If we want to get rich, let’s take advice from someone who is already rich. At least this person has ONE way that works.
How to build personal wealth is understanding wealth from the eyes of someone who is wealthy.
Do we need to be wealthy before we can talk to other people about Network Marketing? No. But we certainly need to become the expert who has learned the skills of understanding wealth and how to build wealth.
People who are wealthy can give us facts and not hunches.
If we were to cross a minefield, who would we seek for advice?
— A. Someone who never crossed a minefield, but had an opinion of where we should walk?
— B. Someone who has crossed that minefield before, and would ask us to follow him across the minefield again, carefully following his footsteps?
Let’s take advice from the right people.
Wealth Secret #3.
The third secret of wealth building strategies is to spend less than we earn.
Easy, right? Not really. It is harder than you think.
We always want things. We get things and want more things. We love buying things so much that we will go into debt with credit cards to buy more things.
And then there is the other thing. Bills. Bills from past purchases. Medical bills. Mortgage. Rent. Car payments. Groceries. Clothes. Bills add up quickly.
Wanting more stuff and paying bills eats into our limited income from work.
— Spend less. This take discipline, and we can all do this with some effort. Yes, we can only cut our budget so far before we go hungry and are thrown out on the curve for not paying rent or our mortgage payment.
— Earn more. This is a whole lot easier. An extra paycheck from our Network Marketing business could make a huge difference to our finances.
Earning more with Network Marketing would allow us to cut back while earning more to invest.
Wealth Secret #4.
Understanding wealth and how to build it at this point should get your thinking to work.
The fourth secret of understanding wealth and building it is hang around people with more money and success than we have. Knowledge and viewpoints from successful people rub off on us. We start to think different, to think bigger. And we start to think positively.
What happens when we hang around four broke people? We are guaranteed to be broke person number five.
If we can’t change people around us, maybe we need to change people. Get new people around us.
Negative people will drag us down to their level. They will tell you, “Network Marketing does not work.” They are quick to point out, “Dreaming is for fools. Stop dreaming and stay where you are.” They are always reminding us that trying something that makes us successful is throwing good money after bad.
Associating with people with money and have success helps us gather knowledge and skills.
Wealth Secret #5.
Two paychecks are better than one.
It does not take us to be geniuses to know two paychecks are better than one. With two checks, we can start paying off debt. We can start investing. We can start accumulating assets. That is called wealth.
Wealth Secret #6.
There are three things you can with a dollar.
— A. Spend it.
— B. Lend it.
— C. Own something.
People who own things that increase in value are rich.
Look around at the stuff we own that does not grow in value. We owe money on our cars… that is not value. We owe money on our homes… that is not value. We buy stuff that does not increase in value but decreases with each new day. Yes, there are some things we need to survive. But most of what we buy is not what we need to survive. We buy junk that has not value.
Expensive monthly car payments, costume jewelry, the latest fashions, and over-the-top holidays are all expenses, not assets. These things don’t hold their value.
Wealth Secret #8.
Wealth resides in our heads.
Every physically thing we own can be lost at a moment’s notice. Skills and knowledge are things that reside in our head and can create wealth after everything else is gone.
Understanding wealth is one thing. How to make wealth from nothing but the skills and knowledge in our heads is another.
The best investment we can make is in ourselves. Simply double our skills and we can double our income.
Unfortunately, learning skills and knowledge working at a job to build someone else’s dreams and wealth does not build riches for us. Owning a business does. Owning a business with skills we learn that make it successful is the greatest gift to ourselves.
Wealth Secret #9.
If we can do it small, then we can do it big.
Understanding wealth and becoming rich is to look at a goal and go for it. No matter how intimidating the goal is, we reach for the stars.
Here is the secret of growing rich.
— Learn the skills to earn $100 extra income.
— Earn that first $100 extra income.
— Then learn more skills to earn $1000 extra income.
— Earn that extra $1000 income.
Once you learn the skills for earning a little income, you have learned the skills for earning a large income.
If we can accumulate $100 and then $1000, we can accumulate wealth and riches in the million-dollar range.
It is easier for people to eat out at restaurants, paly video games, smoke cigarettes, buy lottery tickets, drink beer, buy non-essential stuff that is on sale, buy a new car on payments, etc. – then it for them to save a $100 or even a $1000.
Until that pattern is broken, even the best Network Marketing opportunities won’t solve their problems.
Wealth Secret #9.
One good business opportunity is better than a lifetime of work.
We all know someone who started a business and the business grew. This person now earns more money than he could have possibly made working for someone else.
Pay raises from jobs are very limited. Only in our own business can we earn 5, 10, or even 20 times our current income just by increasing the success of our business.
Having a business gives a chance to build our income far faster than working at a job.
Wealth Secret 10.
Opportunity knocks, and some people will complain about the noise. We don’t want to be one of those people.
We need opportunity to change our lives and move forward. If we continue doing the same thing over and over again, then our results will be the same. We will still be broke. We will not build riches. We will still work for someone else.
Look for an opportunity and ENGAGE.
Understanding wealth and building it from the skills we learn and implement are our only hope to create wealth.
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