Myths that Keep You Broke #25

Myth #25 - I Have to Work Hard for Money:       

The myth for today that you have to work hard for money is closely associated with Myth 24that hard work is supposed to pay more. And I explained value pays more than hard work.

In this email, think of the quote from J. Paul Getty, who was one of the world’s richest men. In his book, he said he would rather have 1% of the effort from 100 men, than 100% of his own efforts.

You can extrapolate this out to having 1% of the efforts of 1000 people being ten times what you would earn from 100% of your own efforts.

It dawned on me that is what I created by accident with our apartment buildings. I have about 25 families that go out to work every day. Once per month they share about 25% of their income with me (in the form of rent), and I don’t even have to supervise them.

When I multiplied those two figures, I realized I am earning 625% of what might have been my own income. Yes, I have to pay loans and other expenses, but it still leaves plenty left over.

If you are in a service business, you could receive 100% of your efforts. However, if you marketed your services effectively you could create more clients than you could handle on your own. You could pay others to take care of those clients, and take a percentage for the referrals. Just 25% of the fee from four other people doubles your income.

This is what some coaches do: They market effectively; they create many clients; then refer the clients to a coach on their staff, and they get an override on each client. And if you are in any type of service business, you can be doing the same thing, from accounting, bookkeeping, computer repair, to software sales.

What can you do to bring in more clients than you could handle on your own?

To Your Prosperity,