10% of Elite Professionals
10% of CEOs are stockholders.
5% Super Sales People
1% Athletes / Entertainers
74% Business Owners
[Source: The New Interagency 2000 Report on Older Americans]
Now, don't get me wrong; if you are a talented singer or athlete with the opportunity to pursue your aptitude professionally, by all means, do so. However, for the vast majority of individuals, owning a business is a significantly more reliable path to long-term wealth.
Realizing that being a business owner offers the best odds and the best chance of generating wealth, what type of business do you choose?
1. Start Your Own Company
While fantastic in principle, in practice this option typically requires a substantial financial and time investment, with minimal returns in the early stages. Second, in order to be successful, you must have an innovative idea or method that sets you apart from the competition and is difficult to imitate. According to a study by the U.S. Small Business Association, only two-thirds of small enterprises survive their first two years, and less than half make it to four years. Given these statistics, it's not surprising that so many would-be entrepreneurs hesitate before taking the plunge.
2. Acquire an Existing Enterprise (such as a Franchise)
Franchises have an established structure and reputation, and their brand value is widely acknowledged. On the negative side, franchises typically require a large initial investment, ongoing franchise royalties, and frequently non-negotiable contracts. Moreover, 62% of franchises falter within the first six years of operation. [1]
3. Network Marketing
The business model of network marketing has created more millionaires than the music and film industries combined and has enabled individuals to earn a second income. It entails joining a business, typically as an independent distributor, and promoting its products through word of mouth. The preferred business model of Warren Buffett, Robert Kiyosaki, Bill Gates, Donald Trump, and other financial industry experts is network marketing. What do they know about Network Marketing that the average person does not?
Exists a correlation between the majority of individuals who have no knowledge of network marketing and the proportion of those whose current income strategy has failed?
We are all aware that financial independence is not free.
Do you want to exchange your home equity, pension, or hard-earned savings for a franchise that costs a small fortune and has a 62% chance of failing within the first six years, or do you want to invest a small amount of money along with sweat equity in network marketing a proven system, with a proven company, and a proven commodity?
After working in the corporate world, operating my own business, and owning a Network Marketing business, I have concluded that network marketing is the most effective business model. Not flawless, but superior to all others. I adore the fact that it is a business paradigm in which your success is entirely dependent on the success of your team and that it allows you to control your time and work remotely.
Moreover, with the power of numbers, you can truly make a difference in the lives of others and positively influence the world.
U.S. Small Business Administration Study.""
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