April 2010 ~ Discovering the Power of True Leverage

Friday, April 23, 2010

Difference Between Rich and Wealthy

3:10 AM personal development No comments

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I have often thought over the past couple of years about the difference between being rich and being wealthy. Is there a difference? If so, what is it? And how do we become wealthy?
It seems to me that there is a big difference between being rich and being wealthy. When I think about someone who is rich, I think about someone with a lot of money. And I typically think about someone who is quite showy with their money. They drive fancy cars and live in a fancy house. They wear fancy clothes and eat at fancy restaurants.
Rich people come into their money in a number of ways. They may inherit it. They may win the lottery. They may earn it in a few short years as a professional ball player or entertainer. Or they may invent a new mousetrap that is worth millions of dollars. Or they may simply earn it over many years as a professional or a business owner.
But doesn't this also describe a wealthy person? Is there really a difference? I believe there is a major difference between rich and wealthy. The difference is in duration. How long does the money last? Will it be gone once the person's earning power is gone? Will it be passed on to future generations?
The difference between a wealthy person and someone who is simply rich is that a wealthy person has sustainable wealth. In other words, a wealthy person will always be wealthy, whereas someone who is merely rich will only be so for a short period of time until the money is gone.
Think about people in history who everyone would consider wealthy, and you can begin to see what I mean. The Rockefellers, Carnegies, and Campbells are all wealthy families. Their wealth has lasted multiple generations. Why is this? What makes them so different from the lottery winner or professional athlete who has money for a short time and then it's gone?
The difference between rich and wealthy is very simple. It's knowledge. Wealthy people know how to make money. Rich people only have money. Once you know how to make money, you can build sustainable wealth. The money never stops coming. If you have a reversal of fortune, it's not a big deal. You just make it back.
Think about Donald Trump. Several years ago, Mr. Trump was deeply in debt. But, oddly, he didn't change his spending habits and didn't go away. Why not? Because Donald Trump understands how to make money. He is a wealthy individual.
There are many examples in history of wealthy people who obtained their wealth through knowledge and valued knowledge more than money. The most obvious one perhaps was King Soloman, king of all of the Israelites. He was extraordinarily wealthy. And he was extraordinarily wise. When he first became king, the prophet came to him and asked what he would ask of God. Solomon asked for wisdom. And throughout Solomon's writings, he lists wisdom and knowledge as the two most important gifts to ask of God. Wisdom and knowledge are what created Solomon's great wealth.
Wisdom and knowledge can create great wealth for anyone who desires it. Last week, a vendor of ours came to me and asked what he could do to create wealth. My immediate response was to learn everything he could about wealth. Once he had the knowledge, then he could begin formulating a strategy and work with a coach to build the wealth. But the knowledge needs to come first. Otherwise, if we do happen to get rich, the money is not likely to last.
I am most grateful to my mother who instilled in me and my siblings an unquenchable thirst for knowledge. This is the greated gift (other than life itself) that my mother gave me. It's this thirst for knowledge that drives me to teach others about wealth and how to attain it. Our new website, http://www.YouAreBornRich247.blogspot.com, has tremendous resources and information about wealth. Particularly important to us is WealthStrategyU. Our goal for WSU is to become a major repository for wealth knowledge. Please let us know what you think about this resource and how we can continually improve it.

Forever Yours,
Seun Banjo-Trueleverage
+2348029494323
Email:Xtrafunds247@yahoo.com
Skype:SeunBanjo
Your Online Biz Coach

Are You Married to Your Work or to Your Spouse?

9:19 AM personal development, su No comments

You work long hours, even when you don't have to. You call your office when you are on vacation. Or you probably don't even take vacation at all.
Your best friends--and possibly your only friends--are on the job.
Your whole world evolves around your work. When you talk to your family, it's always about work, work, work. What happened on the job, what project you are working on, etc.
You tend to do nothing outside of work. You have no hobbies, no real friends, there's nothing you feel more passionately about than your job.

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http://www.yesloansuk.com/news_images/job+loss_1727_19163392_0_0_7023337_300.jpg

If this sounds a lot like you, then you might as well face it, you are married to your job.
Experts point out that there's a number of Americans who have become attached to their job. Their work is their identity. Their work is their life. Their job is all they know and all they do.
JET contacted several experts to find out what makes some people divorce their personal life and marry their jobs, and what they should do to strike a balance between work and home.
Experts point out that they are not talking about a single parent who works two jobs to make ends meet or someone who is making minimum wage and needs to work overtime. They are talking about people who have choices in their work habits, who choose somehow, for some reason, to devote their entire lives to their jobs. They choose money and job travel over spending time with family and friends.
Dr. Harvette Grey, immediate past president of the National Association of Black Psychologists, believes that being married to a job is emotionally unhealthy. "If you are doing a good job on the job, that's good, but to really do a good job, you have to have something other than work. We all want to make money, but not at the expense of relationships."
She points out, "I watch some of my friends who are always checking their job voice mail from home. Even when they are on vacation, their phone rings, and that takes them away from enjoying themselves. But they feel needed. When someone is married to his job, he has control over his destiny. It says, 'Look, all these people from the job depend on me. I am calling the shots."
Dr. Grey, who is also executive director of the Cultural Center at DePaul University in Chicago, notes that the first step to getting that balance is serf-awareness: You must realize that you have married your job and divorced yourself from your personal life. "You have to realize that the job has become the place that you call home and family. That you actually feel guilty when you can't get to work. You are afraid of leaving your job, because this is your family."
You should start developing hobbies, join a fraternity or sorority, become active in church or volunteer in the community. "Develop relationships, connect with people who like to do those things. Go back to the relationships that you may have ignored, like your family and friends. Slowly start do things outside of the job. Take that vacation you have been putting off. Take the kids somewhere. And cut off that cell phone."
Dr. Ronn Elmore, northern California relationship therapist and author of How To Love A Black Man, states: "Become very deliberate about working hard and working well when it's work time, then be willing to put work down and focus just as passionately on the other aspect of your life--especially personal relationships--when it's time for that. Commit to doing so, no matter what. It may mean you run the risk of not becoming quite as rich or famous as you might have by being obsessed with the job, but it helps maintain balance. Otherwise highly productive people can become miserable, lonely, highly productive people."
Emphasizing the importance of striking a balance with your professional and personal lives, Dr. Grey quotes Anna Quindlen's inspirational best-seller, A Short Guide To A Happy Life. "I like what Quindlen says: "'Don't ever confuse the two, your life and your work ... The second is only a part of the first ... Get a life. A real life.'"

Forever Yours,
Seun Banjo-Trueleverage
+2348029494323
Email:Xtrafunds247@yahoo.com
Skype:SeunBanjo
Your Online Biz Coach

Leverage is the Key to Building Wealth

8:14 AM personal development No comments

The concept of Leveraging is important in any business endeavors. The two most popular means of leveraging is that of Time and Money. There is a limit that a person or corporation can have in terms of time and money. It is therefore necessary to leverage on other peoples' time and money.
To quote from W Clement Stone, "The best sort of money to use in a business endeavor is OPM (Other Peoples' Money)."
In Network Marketing .additional Leverage is also Key .
OPT : Which Stands For:

Other Peoples' Time

Other Peoples' Talent

Other Peoples' Techniques

OPE which stands for:

Other Peoples' Energy

Other Peoples' Education

Other Peoples' Enthusiasm

Network Marketing is a Realtionship Bulding Business. Network marketing is peoples' power. Other people are our greatest resources and this Resource is in great supply everywhere.!

Linear Income is Trading Your Time for Money.

Trading Time For Money - What is the Solution? If You Don’t take Advantage of Leverage You’re Limited by the number of hours in a Day !

With the Right Team Under You , all Working Together

A Leveraged Income Stream Becomes a True Life Changing Reality! Leveraged Income is Your money, Your time working for You!
With the right business, by making one sale you've set into motion a chain of events that adds to your income and a new "pay line" has been generated. In the perfect scenario, this continues without end.!
Every successful person or business takes advantage of leverage. There's only 24 hours in a day! And no matter how talented you are or how much you get paid per hour, if you don't take advantage of leverage you're limited by the number of hours in a day.
It is quite unusual for most people to work only 8 hours a day due to the heavy workload and overtime. However, Let's l use 8 hours a day in this illustration.
Working a five days week you will have 40 hours of productive time. In 50 weeks a year (assuming you take 2 weeks for vacation) you will have 2000 hours. In a lifetime of productivity you will only have 80,000 hours if you work for 40 years of your life. This is not much of time and especially if you are already in your middle ages.
In network marketing, if you have 20,000 people in your network after a number of years, and lets say these people only work for one day of 8 hours. You will then have generated 160,000 hours in a day, i.e. twice that of your life time of 80,000 hours. There is no way of achieving this if you use your own time. This is the essence of leveraging whether it is for time, money, enthusiasm, etc.
Search for companies that offer leveraged-incomes and compensation plans that pay a minimum of $900 per sale. If the commission isn't jaw-dropping, why bother?
Would it be difficult to find one person a month to join you in a program like this? Just one per month who might be interested in learning about leveraged-income and enjoy more leisure time while controlling his/her own paycheck?
Fact: Do you know what happens when you double a penny every day for a month? At the 15 day mark, it's grown to $163.84. But by the 30th day, it's mushroomed to OVER 5 MILLION dollars!
Business entrepreneurs see the big picture and aim for financial security. Building assets from which their money will come in month after month, year after year from work he is doing today!.

Forever Yours,
Seun Banjo-Trueleverage
+2348029494323
Email:Xtrafunds247@yahoo.com
Skype:SeunBanjo
Your Online Biz Coach