The Young One's

Dost thou love life? Then do not squander time, for that is the stuff life is made of. (By Benjamin Franklin)

To all the Young One's who is coming out to face the world after the age of 18 or after finishing your studies. I have a message for you, please be aware that today in the 21st century you have an opportunity of getting into a business of your own, that can create a passive income while building up the Business within the next 5 years. In other word, you can be financially free by the age of 23, thus saving 5-10 years of youth for better things.

Since passive income can only be generated by an Asset, that means not only are you making money but also creating an Asset at the same time a long the way. Always remember the bigger the passive income, the bigger is the Asset.

Why do I said this because we the old timers have no such opportunity of getting into a business after the age of 18 or after finishing our studies, because during our time the entry barriers to a busniness are too high, to do business,one's must have knowledge, experience, capital and contacts, which none of us have during that time.

Because there is only one type business available to us then, where one's have to take care of every things from A to Z solo, known a Survival Structure and hence no one's are willing to teach another person about their business because they don't want to have competitors in their market segment.

So what we old timer do is to ask for a job with a reasonable pay to have an opportunity to learn from ground up about the business through observation. It is through this process where we will have to spend about 10 to 15 years of our youth to learn and save the capital, gain the experience, knowledge and contact to start the same business and competed with the boss in the same market segment with all the business RISK.

This is how we old timer's get into a business, that come together with the well known perpetual problems in human resources, cash flow and market.

Therefore to all the young one's out there, life is like riding a bicycle, to keep your balance you must keep on moving forwards, but the question is which direction?

Moving to the right direction is very important than working hard otherwise we will be back to square one, and according Benjamin Franklin, we have squander our time away which means we also squander our life away at square one.

Plan and design your life now according to your dream, please don't ever follow our footstep, building our lifestyle according to the amount of income, it's through this process that many of us old timer have lost our dreams because we try to fit our dream into our income received, how pathetic this is. Why not fit our income into our dream?

Why do we need to work or do business? Because we wants to earn money to build our designed or dream life style. The question is can we earn enough to fit the income into our dreams? Looks at the old timers most of them build a lifestyle according to the amount of money they earn. Sad to said 95% of the old timers have a mediocre life style and only 5% are having the lifestyle of the rich and famous.

In other words my friend making a lot of money will give the life style of the rich and famous. The question is how? Only through a big business can we have an opportunity to earn big money.

Facts and Questions one's must know first;
1 It's all about MONEY.
1 So what is Money?
2 How many way are there to get it?

3 What everyone need at their retired Age? PASSIVE INCOME!
4 By the way we retire with money and not age.
5 Only Asset can provide Passive Income.
6 Question is what is most prefer Asset one's can have?
7 How many ways are there to get the Asset to provide the passive income?

8 So can one's design and plans one life course after age 18 onward?
9 Is it necessary to plan and design One's life?
10 Well you have a choice to choose between "being salve to a system with your certificates or choose to be free with a business of your own and take control of your life".

So my young friends please do choose well because it will effect your life for ever.

Since every ones have to retire someday in life and need a PASSIVE INCOME to maintain one lifestyle because one is not dead yet but just not working with no income to cover our life expenses....may be for the next 20 years.

Passive Income comes from the Assets that we have either accumulated or created over the period of our life before we retired. Accumulation take times....usually about 40 years while creation take about 5 years.

So if one can create the asset in 5 years then while choose 40 years to accumulate?

The question is whether we have such an Asset that can give us the desired passive income to take care of our lifestyle or do we need to cut down our lifestyle to fit into our passive income, or there's none at all.

There are really 2 ways to get this Asset, we can either accumulate the Asset in the next 40 years (Age18-58) or create it in the next 5 years by building a business that provide a PASSIVE INCOME.

According to Mr Robert Kiyosaki in his Cash Flow Quadrant Book "E.S.B.I", to have the Time and Money Freedom, one's have to be in the B Quadrant, Big Business that backup with a set of System at work for you. These Systems are very costly and are build over time for it to works smoothly and efficiently.

It only take 5 years or less to build an Asset that will give the desired passive income you need and enjoy your life with your parents and love one. With Amway, a 9.2Billion company with 52years experience in multilevel marketing over 90 countries in the world. Number 1 and biggest in Malaysia with a sale volume of over 719million in 2010.

Choosing the right direction and the right company is the most important decision in one life. If can choose the number 1 why then choose otherwise.

What is TIME?

Time is a sequence of events in your daily life, if you can control these events and have them relate to your goal then you will be able to achieve whatever you want in your life quickly. So with right direction, one's have to work smart and work hard in that right direction.

Cheers and choose well.

lesliewong38.

Is your family finance healthy?

Your family finances are the aggregate finances contributed by who ever have the capacity to contribute; usually by some of those working family members.

The aggregate incomes from these contributions are supposed to provide the following;

1 dream home

2 quality lifestyle

3 education

4 dream cars

5 travel

6 saving for retirement

Therefore the aggregate income must match the above provisions, generally there four scenarios to these effects;

1 Negatives balance; usually take care by credit card and credit given by your

sundry shop provisions.

2 Just balance; enough to cover all the basic provisions without saving.

3 Managed to cover all basic provisions with a little bit of saving.

4 Excessively cover all basic provision with some degree of comfort and

luxury plus a lot of saving.

So which position is your family finance?

Sad to say 95% of us are in the 1^st to 3^rd category, and only 5% are in the 4^th category. Why?

Because 95% of us have followed the 95% failure paradigm when we started our life after whatever education we have completed.

This is the paradigm we followed;

Age 1 to 18, this time is under our parent’s control so we can’t do much except to grow and acquire knowledge by attending school.

After age 18, those who are not so lucky in life will then force to come into the reality of the world as an adult to live, and to live we need money to survive, so first thing that come to our mind is to get a job by selling our time.

Here there 2 categories of people, one who aggressive will work for a couple of years where they pay attention to what their bosses is doing and learn as much as they can, save as much as they can during the same period where they a learning their bosses skill in running the business, then they’ll come out to do the same business and become their boss competitors.

The second group who are not aggressive or their preference is to work (selling their time) will continue to work and climbed the corporate ladder, trying their very best to get as high as they can because of the salary and perks given by the company. The smart one will try to improve their skill and knowledge for higher promotion and pay.

Both these categories of people will given themselves until the retirement age, which’s now at age 58; to get rich and wealthy. Why, because they wants to have a monthly income without working to continue taking care of their monthly lifestyle monetary expenses which they builded over the last 40 years of their life. In other word, they need a passive income for their retirement.

The reality is 95% failed in this life process as shown by the statistic, only 5% manage to make it. What’s this process? The process they use is wealth accumulation as follows;

1^st to earn

2^nd to save

3^rd to invest for leveraging to grow

And finally expose them to the market risk during the 40 years period of wealth accumulation and hopefully become rich and wealthy. There is no certainty that is why the statistic has shown us 95% don’t make it, only 5% make it.

So my friends are you using the above process or paradigm? If yes then it’s high time for you to look for an alternative.

The alternative that has eluded me 25 years ago have finally come back to me again. The second paradigm which is 100% successful is as follows;

Likewise, age 1 to 18, this time is under our parent’s control so we can’t do much except to grow and acquire knowledge by attending school.

After age 18, those who are not so lucky in life will then force to come into the reality of the world as an adult to live, and to live we need money to survive, so first and only thing we should do to get an income is to sell products and not our time, because selling products have no limitation as compare to selling time which limited to 24 hours only for everybody.

Selling products is doing business. Products can be tangible and intangible. We just don’t do any business but a business that can give us a passive income every month, an income we can build base on what everybody can do it if they want to and not restricted to any conditions.

Currently there are 2 types of business structure in the market. The first one is the survival structure which we see around us all the time such as the production channel like the factories producing goods for sale, and the distribution channel like the sole agent, the regional agency, the wholesaler, the retailers, the hypermarkets, the small and medium industry and enterprises, the multinational companies listed in the stock exchange and etc… these business structure don’t like competition so everybody involved here are not willing to teach their trade secrets.

As for the other business structure, can only survive if they educate and develop people to be a prosumers first then an entrepreneur if the person wants to be developed; otherwise they can always remains as prosumers. Prosumers are people who spend and earn at the same time from their spending.

The structure of the business is base on a partnership between a producer of a product and a distributor of the said product. The producer only concentrates in production and leave the distribution to the distributor who have the exclusive right. A marketing plan is put in place to compensate the distributors proportionate to the effort they put into developing their market shares. The market strategy they use is network marketing which use multi level marketing system. They sell products by words of mouth or referrals marketing which one of the most powerful marketing tools available. Under this system anybody can join in to purchase the product for their own consumption or to sell the said product if they want to. Usually the products that are sold through network marketing are consumable products or necessity products. They are also given the opportunity to recruit their friends to buy and sell the said products.

The success in this business model is base on its duplication of its business model and its strategy in consumption volume creation. In any business, volume is the game plan, so we have to develop a market share of consumable and a large number of independent business owners. Because this is a necessity product the prosumers will not stop using the products if they get value for their money, thus, every month you’ll be assure of a sale from your satisfied prosumers. As your prosumer grow, your monthly sale volume will grow and your income will also grow. As long as the satisfied prosumer consumed you are paid a bonus from their consumption which is calculated every month and hence this is where your monthly passive income is formed.

The question in this business model is how to find a good partners with high integrity, proven records and keeps to their word.

Business

"We live in complex times where it is hard to know what to do. Good intentions are not enough.Yet, people around the world are making a difference where they live and work through methods that tap into everyone's intelligence. “- Nexus for Change II

To be successful in Network Marketing you must have the following ingredients;
1. Must have Big Dreams; i.e. a Dying desire. (Your first dream is to change yourself in your paradigm).
2. Must Think. (Seriously think about what is success meant to you and what you really want in life).
3. Must be a Storyteller. (Educate and inspired yourself and be storyteller to inspired others).
4. Must be a Leader (be an example for others to follows).

Now that after reading my first article;

It’s only a sensible thing to do now is to take charge of your life and start building your Plan B.

As explained, the Conventional Business Model only helps you to earn an income whereas the Network Marketing Business Model creates a system at work for you by helping you to build a passive income.

Let’s look at the characteristic of Network Marketing;
1 It’s a distribution business of your own.
2 The business structure is to develop people.
The potential of its business structure is to develop a net work of entrepreneurs for
exponential growth.
3 It must be base on consumables products with value.
4 It take care the Market/Sale only.
5 It needs a Partner, to manufacture and supplies the requisite products and a compensation/marketing plan to reward its partner distributors who put in the works appropriately.
6 The distributor need, first to build a net work of consumers to make money and shows it to their followers how it can be done and build those who are interested to develop the business as a leader/entrepreneurs in your organization.
7 By building these entrepreneurs you are actually leveraging on human resources and building a system at work in your organization. Thus creating the schedule desired passive income to give you the time freedom.

Now let’s look at some network marketing business objectives;
1 To make money.
2 Must have Sale Volume. The higher the Volume, the higher is the potential Profit.
a. It depends on two factors;
i. Its market size and
ii. The numbers of products for Sale.
3 Must have customers’ retention.
4 Must build net work customers first, and then show those who also want a business of their own to follow your footsteps. By developing these entrepreneurs will give an exponential growth and system at work in your organization.

A business need time to build. In this business you have two things to sell.
1 Products;
i. use it,
ii. good; share it,
iii. Not good; return it.

2 Business;
a. What is it? Distribution Business.
b. Who’s Amway? A Partner Supplier.
c. Why Amway? Proven track record in products, integrity to pay and commitment as a Business partner to their distributors.

Since you only take care of one of the 5 business pillars i.e. marketing, then you must learn about Marketing and its sale cycle for both the products and business itself;
1 preparation of pre approach,
2 approach,
3 presentation,
4 answering enquiries and
5 Closing.

Always remember the first law of marketing is to know your products well then you can promote with conviction and passion.

Why Amway?
1 It pioneers in network marketing since 1932, started with Nutrilite 75 years ago.
2 It’s a 7.1Billion Company worldwide.
3 In Malaysia Amway is listed on the first board with 164million paid up, with the following major shareholding and its last 5 years financial audited reports;
a. Amway Global Develop B.V. 51.70%
b. Skim Amanah Saham Bumiputera 16.47%
c. EPF 05.71%
d. Valuecap Sdn Bhd 04.23%
e. Lembaga Tabung Haji 03.83%
f. Amanah Saham Malaysia 02,98%
g. Amanah Saham Didik 01.79%
4 Last 5 Years Financial Performance Results 2003 2004 2005 2006 2007
a. Sale Revenue(RM Million) 0422 0456 0507 0724 0584
b. Profit BT (RM Million) 0074 0072 0073 0112 0120
c. Net Profit (RM Million) 0052 0054 0052 0081 0088
d. Net Earnings Per Share (Sen) 31.7 32.6 31.6 49.0 53.5
e. Core Distributor Force (Thousand) 0158 0161 0165 0177* 0188
2003-2005 - Results for financial years ended 31st August
2006 – Results for the 16-month period from 01/09/2005 to 31/12/2006
2007 – Results for financial year ended 31/12/2007

5 Proven track records in its products, compensation/marketing plan and its integrity through;
a. Diamond Chan Poh Yoke is factory clerk earns a meager salary become a direct distributor in 1980 and a Diamond in February 1993; a level where she have developed six entrepreneurs in her net work organization, but die in May 1993 and that whole year income from her net work is RM167,564.01. In 1994 person already dead but income from her net work is RM200, 009.42pa. With a total sum of RM367,573.43, Amway Malaysia went looking for her next of kin, found that she’s not married, so no husband and children, next parents, both demised, next found a brother and a sister, both said don’t want the business but want the money, so Amway said fine and give them both the money equally i.e. RM183,786.76 each in 1994. Amway have been paying them a combined bonus of approximately at an average sum of about RM300, 000.00pa for the last 12 years which come to be approximately RM3, 600,000.00. The last annual payment in 2007 was approximately RM500, 000.00. As of today Amway still continue to pay the next of kin a monthly income from the net work. Amway have been paying for the last 14 years and it will continue to pay for the next 14 years there onward. So my friend can you name me a insurance policy that can pay like this or if you selling insurance policy then check and see if your company have such a policy that can pay like Ms. Chan Poh Yoke case? If yes I’ll definitely want to buy. If no, why not consider building this business then.
b. Next case is my good friend Mr. Alferd Hendroff a divisional manager with a life insurance company become a direct distributor in September 1976 and a Diamond Direct in 1981 then stop doing the business until today 2008, migrated to Perth Australia, just ask him how much is his 2007 bonus, not much he said just over a million. Have permission to reveal this three years income and sale volume only;
i. 2002 income RM502,155.99 Sale Vol. Local&Int’l RM1,180,593,943.15
ii. 2003 income RM615,182.89 Sale Vol. Local&Int’l RM1,424,979,762.75
iii. 2004 income RM770,814.37 Sale Vol. Local&Int’l RM1,866,071,312.88
People like these still don’t have an office or a manufacturing plant but can have sale volume bigger than any small medium enterprise and some of the multinational companies.

Hey my friend heard of people saying Amway is chicken feed business and not my cup of tea or coffee. How sad for these people they have missed the biggest opportunity in the world.

This is how I felt now sad and stupid after being introduce to Amway in 1978 and give up without really working on it and understanding it, just like many people outside who have join in to obliged a friend who have just join in and very excited or just to keep MLM people away from disrupting their paradigm and many other excuses.

Seriously look at the above two cases of people who have make it and many others, isn’t these are what we want in life that call success. Have time and money freedom, which can be inherited through our generation to come. All it takes is to take charge of our life and think seriously what we actually want in life. Go back to basic about money, money may not be everything but everything we touch need money;

1 Money; a medium of exchange.
2 Generally two things to exchange;
a. Time (Working)
b. Products (Business)
3 Need to develop Plan B (i.e. business alternative to Working)
4 Understand the basic Chronicle of business;
a. Exchange of Products
b. Manufacturer or Distributor
c. Marketing techniques
i. Waiting for customers
ii. Going after customers
d. Business objectives
i. Make money
ii. Volume game
1. Market size
2. Number of products available for sale
iii. Retain customers base
e. Basically business is about Marketing
i. What to market?
1. Products with value
2. Network Marketing business itself
ii. How?
1. Educated yourself first about the products and its business
a. Products-use it yourself
b. Business-understand it
2. Educated yourself on the Sale Cycle
a. Pre-approach
b. Approach
c. Presentation
d. Answering Enquiries
e. Closing
5. Objective is to develop a business to build a passive income with as much leveraging as possible, low capital outlay, high return on investment (ROI) and nominal risk.

Hope you can understand why Amway and why we need to build a parallel source of income by choosing the network marketing business model.

A Tool for everybody with Big Dreams towards better lifestyle, time and financial freedom without Risk and High Cost.

With the current economic outlook I think it’s a prudent thing for us as employee to get ready a backup plan that will continue to provide us an income should anything happen in the coming expected recession that’ll definitely affect our current source of income to a certain extend through no fault of ours. Nevertheless it is imperative that we must be prepared for any eventuality.

Question is what can you do as a second source of income?

Do we need to get another addition job after our main job or get another way of earning an income? As an employee we exchange our time for money, so if we choose not to exchange time for money than the other alternative is to exchange products for money that means we are getting into a business.

Question is after being an employee for all our life, what do we really know about business?

So what is business?

Generally in business we either make products and sell (as manufacturer), or sell other people product (as distributors). In business as a Distributor, first you must choose a business model, product and marketing technique (i.e. either to wait or go after customers.)

First how to choose a business model will depends on whether you want to earn or build an income. There’ll be no income if you stop earning but if you build an income than there’ll be continuous flow of income even if you decided to stop building. So decide carefully, once decision is made than you must be willing do whatever it takes to achieve it.

Question is, are you currently earning or building an income?

Next how to choose a product will depend on whether you want money once a while or every month. If you want money once a while then sell products once a while but if you want money every month then you must sell every month because money is a medium of exchange, you need to exchange something for money it’s either your time (Working) or products (Business).

Hence, if you need money every month then there must be sale every month, so think hard what is it that everybody needs to buy every month; it is none other than their necessity and basic consumables. There are so many consumable products in the market to suit the whole population of a country which also reflects the size of our market.

In business the objective is to made money, how much will depends on the volume of sale we can generated from the size of the market and also the numbers of products we can sell.

So question is what products to focus?

As a businessman, you need to know about the macro economy in order to position your company direction or otherwise you will die in this volatile economy without knowing why, and also micro economy in order to control and monitor your administration, marketing and distribution cost. Macro economy is things beyond your control such as politics and economy trend. In order to position your company direction, you must know what the current economy trend is. Every decade something big really comes along, in the 70’s it’s Microwave, in 80’s it’s VCR’s, in 90’s it’s PC’s and Internet and the current 21st century it’s Wellness Industry. One can participate as a Practitioner such Doctors, Manufacturer, Retailers and Distributors of wellness products.

The product to focus on is the wellness and beauty products, next we need to choose a marketing technique, if you choose to wait for customers to come to you, then you’ll need to use a lot of expenses for promotion and advertisement to lured the customers come to you such as the conventional business models like Manufacturer, Regional Agency, Sole Agency, Whole Seller, Retailer and Hypermarkets. These business models have a survivor structure and nobody will teach you the business as nobody want to have competitors. If you choose any one of these model then you have to learn how to do business yourself. After all these model only helps you to earn an income.

The alternative marketing technique is to go after the customer, since you go after the customers then you don’t need to use a lot of expenses to operate. Usually this business model is calls Net Work Marketing; it involved direct selling using Multi Level Marketing (MLM) technique to distribute the products. The structure of this business model is designed to develop people into an entrepreneurs and consumer of the products they distributed. Therefore, a detail training programs are in place by the Company and its Business Partners who are usually its Distributors to train those people who have big dreams to achieve, by being a businessman to develop a network of consumers and entrepreneurs among their network of friends and relatives. This model only takes care of one of the five business pillars which are Capital/Cash Flow, Manufacturing Process/Trading Methodology, Material/Products Suppliers, Human Resource/Workers and finally Market/Sale; that is the Market/Sale only and leverage the other four on the chosen Partner who will provides all the requisite products and a proven Marketing/Compensation Plan that’ll provide a continuous flow of income eternally. Hence this model builds income.

Our business objectives is to retained the consumers and increase their products consumptions by building on them one by one, imaging with the products knowledge acquired after consuming it yourself and through all the training provided to you, and let said you just spend 1-2 hours a day after work and talk to somebody and get them to use the products only, 1 year is 365 day say you managed to get 300 customers in the first year to spend only RM110.00 (Double X) every month than on the 2nd year onwards your monthly sale volume is 300 X RM110.00 = RM33,000.00 at 21% bonus = RM6,930.00 every month onward from there on even if you stop building, this income of RM6,930.00 will continue to come whether you like it or not. Add a Protein = RM190.00 X 300 = RM57, 000.00 at 23% bonus = RM13, 110.00 every month onwards, add another Omega 3 = RM249.00 X 300 = RM74, 700.00 at 23% bonus = RM17, 181.00 every month onwards and lastly add Coenzyme Q10 = RM412.00 X 300 = RM123, 600.00 at 23% = RM28, 428.00 every month onwards. Can you see how the income build over time with just 1-2 hours work a day.

Question is can this be done?

Let’s look at our current paradigm; the 1st paradigm,

Age 1-18 under parents’ control you need to grow and study only,
After age 18, for those who are unlucky will have to come out to face the reality of the world, in order to be independent you will need money to survive, so first thing that comes to your mind is to find a job.
For those who are aggressive, they usually work for a couple of years after getting the experience and know how they’ll get in a business similar to their job and be a competitor to their bosses because they want to earn more money.
For those who are not aggressive they’ll continue to works and climb the corporate ladder until they reach the retirement age of 58 and hope to be rich by then. How they do it, through earning, saving, investing (taking all the investment Risk) from age 18 – 58 approximately 40 years and hopefully become rich. Hence some 5% will make it but majority 95% won’t make it as proven through statistic. Why do they want to be rich? Most common answer is don’t need to work also have money to spend that mean Passive Income. How much to be rich?, 1million, 2million, 10million or over 20million most can’t give exact amount but most agreed if they can have their desired income every month without fail is good enough, meaning to said a monthly desired passive income will do just fine.

I have been working and having income from 2 types of businesses for the last 32 years, suddenly realized if I stop what I’m doing now, my income will also stop immediately meaning that up till today I still have not build an income. What I have been doing is actually earning an income instead of building an income. Today I’m 50 now, I still can’t see the passive income I’m suppose to have to maintain the lifestyle I’ve build for my retirement in the next 8 years, if in the last 32 years doing what I’m doing now and still can’t have the passive income I desired than what made me think I can achieve it in the next 8 years.

"Insanity is continuing to do the same thing and expecting different results." -- Gerhard Plenert

Therefore I definitely need to change my business model of earning an income into building an income.

Now let look at the 2nd paradigm,

Age 1-18 under parents control you need to grows and study,
After 18, straight get into a business and build a monthly desired passive income in the next 5 years than retire young and rich.

Isn’t this a better paradigm?

Question is can this be done?

Majority said impossible, how you can get into a business without knowledge, experience and money, further more you don’t learn about business in school and nobody will teach you about their business as nobody like to have competitors in their business. This is so true that why we have to get a job 1st and secretly learn about the business and after gaining the knowledge, experience and saving than only we can get into a business on what we have learn and experience with the knowhow. Well this is absolutely true for the convention business model we have learn from the above but then we also learn from the above that there is another business model where its business structure are designed to teach you all you need to be a successful entrepreneur and this business actually helps you to build an income instead of earning an income call Net work Marketing.

Thus with Net Work Marketing business model the 2nd paradigm can now become a reality. So why spend 40 years of uncertainty of hopefully to be rich when you can actually achieve it with certainty in 5 years time, than you can have the time and money to do whatever your heart desire to do and live life to the fullest.

Now even though I’m 50, I still have an opportunity to catch up on time again, and I’m extending this opportunity to you to made the required changes in your life if you can just stop and check on the things you really wants in life that is yet to be fulfill (i.e. your dreams)

"We live in complex times where it is hard to know what to do. Good intentions are not enough.Yet, people around the world are making a difference where they live and work through methods that tap into everyone's intelligence. “- Nexus for Change II

If you understand and want to make the changes in your life than please don’t be hesitate to email me at lesliewong38@gmail.com or call me at 0163346680 mention this article to make an appointment to meet if you are around Klang valley. We can always meet up to share and exchange knowledge and information over a cup of good tea or coffee.

Cheers from Leslie Wong.