by Wayne on January 9, 2010
Lately, I’ve been reading The Warren Buffett Way by Robert G. Hagstrom. Hagstrom writes about the fascinatingly simple principles that have guided Warren Buffett’s decision making in investing over that past 60 years that have allowed him to accumulate such immense wealth.
Warren Buffett’s formula for investing fundamentally has not changed since his first fund was established over 50 years ago. Buffett never gets distracted by fads or promises of explosive returns. So called experts have often criticised him for his stubborness and his “old fashioned-ness” and yet he’s always had the last laugh when their bubbles burst.
Whether he’s buying stocks or buying entire companies, he has the mindset that he is going to keep that business forever. Therefore he looks at the business both quantitatively and qualitatively to be certain that he’s making the right decision.
Some say, Buffett spends 8 hours a day at his office, reading annual reports and trade journals with the goal to make just one good investment decision every year. Just one!
He does a ton of research on a company and its executives to make sure they both have integrity because he wants to be certain that what he invests in will continue to grow and prosper long into the future.
In the book The Warren Buffett Way, Robert Hagstrom writes…
“He looks for companies he understands, with consistent earnings history and favourable long-term prospects, showing good return on equity with little debt, that are operated by honest and competent people…”
Network marketers ought to use the same approach when it come to choosing the company they want to build their long term residual income with.
by Wayne on December 24, 2009
Have you ever considered how many people do you need in your downline to make $10,000 per month?
Once you work this out, the answer to this question may surprise you. It may even anger you depending on how serious you are about becoming financially independent via network marketing. The real question is: how much does your MLM company reward you for bringing in revenue?
The best compensation plan is one that will pay you the most money for the least amount of effort. Why do some companies have “better” compensation plans than others?
Simple, some companies simply don’t run as efficiently as others. Some companies have large numbers of employees, large buildings, private jets, and other high overhead items that they can’t pay their distributors more generously…
by Wayne on December 20, 2009
A few days ago, I had a conversation with a lady who reached a very significant pin level in one of the largest MLM companies. She is no longer with this company, but her story is one that’s not too uncommon within the MLM industry and should serve as a lesson to all of those who really want to live the MLM “Dream”.
From the outside she and her husband had what you could call “success”. They were always on stage, speaking and telling inspirational stories at company events. Every week they trained their downline on how to promote the business and its products.
What was missing?… The Money!
Over their years with this company, they had tirelessly built a downline numbering in the thousands…
