What is Your Freedom Factor?

When are you financially free? You're financially free when you're living your dream lifestyle without having to work or rely on anyone else for money. It's when you are free to do what you want, when you want, with whom you want.

What is Your Freedom Factor?

Don't know? Try this!

1. When would you like to be financially free?

In one year
In two years
In five years
In ten years

Great! What's your plan to achieve this goal?

2. How much money do you need monthly to be financially free?

$1,000
$2,000
$5,000
$10,000 or more

Great! What's your plan to receive this monthly income?

3. Multiply your answer from Question #2 by 200*. This is the amount you need to invest at 6%interest to receive your desired monthly income.

$ ___________x 200 = $

Great! What's your plan to accumulate this money?

So, what is your freedom factor? It's your answer to Question #3. Your Freedom Factor is "The Factor" that allows you to "Own Your Life". In this case, your Freedom Factor is the amount of money you would need invested in real estate, in the bank, in the stock market, etc. in order to become financially free.

POP QUIZ

Q. How much money would you need to save every month, over the next 5 year, to save $1 million?

a) $160
b) $1,600
c) $16,000
d) $160,000

Answer: C

"Can you save $16,000 every month?"

That's $16,000 a month after you pay for food, gas, utilities, credit cards. After you pay your mortgage or rent, car payment, insurance, etc.

The $1 million you saved would give you a royalty income of $5,000 a month ($60,000 a year). Whether you went to work or not, you'd get that money.

Here's the Good News. Some people have found an easier way to create $5,000 a month ($60,000 a year) in royalty income. Would you like to find out how?

Be empowered to prosper!

Irma L. White
A Mentor with a Servant's Heart

Info taken from Freedom Magazine Volume 1, Issue 3

If this information was helpful, click here for more free network marketing training, strategies, tips and resources to help you reach your business goals.

Network Marketing & MLM - What is the Difference or Is There One?

So often I hear the terms network marketing and multi-level marketing (mlm) interchangeably. In fact, I have interchanged them myself. But, as I became educated, I learned they are not necessarily the same.

What got me thinking about this and why does it even matter? I was at a networking meeting where the guest presenter was promoting her business. Throughout the course of the afternoon she made it a point to say her company was not network marketing or mlm - it was simply a club where individuals could buy their products wholesale. Since many people are turned off when they hear the terms 'network marketing' or 'mlm', the distributors in this company promote their business as a savings club. The problem is you have to join the company as a distributor to even purchase the product. Also, this company pays on multiple levels. Well, by definition, a business model that pays on more than one level is multi-level marketing. Further, since network marketing is defined as a distribution channel which allows people to share in the profits, this company is clearly a multi-level, network marketing company.

In both multi-level marketing and network marketing, individuals are given the opportunity to sell products/services to the end consumer and share in the profits. Instead of paying the celebrities for product endorsement, companies pay that money to the distributors who recommend and promote the products to their networks.

With the proper skills, multi-level marketing can create royalty or residual income. On the other hand, creating residual income may not even be a possibility with a network marketing company that is not mlm.

Here's the difference.


A direct sales company is a network marketing company. In direct sales, someone sells a product and gets paid a one-time commission. Generally, to receive another commission, they have to find a new customer and make another sale (unless it is a consummable). This method is often used for big ticket items or non-consummable items. Home parties is a good example of this type of compensation. Also, if the distributor only gets paid on his personal sales, it is strictly network marketing. However, if a company pays a commission on multiple levels of distributors, then it becomes multi-level marketing as well.

A company can start out as mlm but change to network marketing when they get in a money crunch as recently happened to a well-known company.

As mentioned, both network marketing and multi-level marketing are business models where goods/services are distributed to the end consumer. However, in network marketing, the company pays the commission on one level only. As the name implies, in multi-level marketing (mlm), commissions are paid out on various levels, usually predetermined by the company. Network marketing is a lot like a job, you start from scratch each month because you produce linear income. You get paid on your individual effort only and the moment you stop working, the income stops. In multi-level marketing, you get paid for not only your personal sales, but on the sales of others. In this business model, if you do the work right, you can get paid forever. Your royalty (or residual) income can actually increase from month to month (because you are being compensated for the work of your entire organization). In mlm you can eventually work your way out of a job and into enjoying '7-Day Weekends' because when you stop working, the income will continue to increase.

In a nutshell: Every multi-level marketing company is a network marketing company. However, some network marketing companies are not multi-level marketing. The difference is determined by how many levels are paid.

Be empowered to prosper!

Irma L. White
A Mentor with a Servant's Heart

Questions why you haven't succeeded in mlm? The answer is in this book.

If this information was helpful, click here for more free network marketing training, strategies, tips and resources to help you reach your business goals.

Multiple Streams of Residual Income -- What Does that Mean?

As an online marketer I come across people all the time who are in network marketing because of its ability to produce residual income. Some people are very focused on one business and doing well, some are focused but can't seem to get it going and need help. But then there are those who are so unfocused they are in two and three businesses at the same time because they believe in the "multiple streams of income" philosophy. Well, I'm a 'blue' personality type and I even have trouble buying into that philosophy. A blue is generally unfocused, scattered and usually doing two and three things at a time. But, think about this. The bible even says 'a double minded man is unstable in all his ways.' Thus, this philosophy simply doesn't work. So, if you're attempting to build more than one network marketing business (or any two businesses) thinking you are producing multiple streams of residual income, think again. What's really happening is multiple streams of outgo. Each business has a monthly requirement so, if you are meeting that requirement, money is going out. Even if you somehow manage to generate income in one business, the income earned is financing the other one thus, there is really no increased income. Not to mention, you can not get focused.

Here's what my mentor, Michael Dlouhy, says about focus:

The narrower you focus, the better chance prospects & customers will see you as high quality. And NO SERIOUS BUILDER commits to a network unless they consider it high quality. When you promote a smorgasbord of opportunities, you undermine your network. When you try to appeal to everybody with your multiple streams of products & services, smart people will not take you seriously. And why should they? You have no identity in their mind.

Result?

No trust. No loyalty. No network. Your people are easy targets for some narrowly focused networker. You waste time & money searching for more opportunities to create your multiple streams. But loss of focus = loss of power. End of Michael's statement.

Do you see why it is better to find a business that will produce your desired income and put all your time, energy and resources into building that one business. Then, when you get it on autopilot, buy property, buy stocks, bonds, cd's, invest in the forex, etc. That is how you can produce those multiple streams of residual income.

What do you think about that?

If you bought into the "multiple streams of residual income" philosophy or if you are focused but can't figure out what to do next to get your business going, click here for more network marketing insights. It may be just the thing to get and keep you focused and on track.

Be empowered to prosper!

Irma White
A Mentor with a Servant's Heart