What are the top three financial disciplines of a successful network marketing leader? Well, for me, it all starts with Number One, which is actually budgeting out. You know, it is really important to understand, it’s not about how much we earn, it’s about how much we get to keep and what do we have as a long-term goal in financial disciplines and financial goals. So for me it’s all about, how can I, Number One, decrease some of my expenses. And that obviously starts with creating a budget for myself and my family.
And why have this budget? Number Two, financial discipline actually has to be within that budget and that is 10% of whatever I earn, I get to keep. I get to save, right? So it’s almost like you have a direct deposit account and everything that comes in every week or every month from your business, you gotta be putting it into an account that is not accessible with a normal credit or debit card.
That is such an important thing because as you start to understand that the sooner that you start to save and compound, the sooner you are going to actually have money working for you, which is an additional stream of income in addition to your network marketing business, the sooner you’ll be freer. So it’s really very important to have a budget. Number Two, 10% at least you need to save. In fact, if you read different books such as Seven Years to Seven Figures by Michael Masterson, he suggests that at $1,000,000, you should be saving anywhere from 40% or more.
So, perhaps 10% is very conservative, and so, even if you don’t already have a six-figure income or a seven-figure income within network marketing, even if you’re just starting out and you’re still working full-time on your job, that’s okay. Start by a small discipline, and if you feel you can’t do 10%, start with 1% … or 2% or 5%. It’s more important to create those disciplines than how much we actually get to save. So, budget, 10% saving.
Number Three. Investing in myself. If you look at all the investments that we’ve made throughout the years, Miguel and I have dabbled in investing into different types of businesses and different types of investments, and while our primary focus has always been within network marketing, we have understood that there’s one investment that’s always been the most profitable. And I think you can already guess, which one, right? It is investing into ourselves. That’s why each and every single year, we actually invest upwards of six figures annually into ourselves in getting better skills, getting mentors, getting around people who are more successful than ourselves. In this way, knowing that we are continuously increasing who we actually are.
That has always been the best investment. I can’t even comprehend, you know, every dollar that I invest into myself every year probably has something like three or five or even ten extra return in some cases. So that is definitely my Number Three.
So, make sure as you are looking at financial disciplines, you have those three really nailed down, and you are going to be on the way to, not just creating a successful business, but creating a very sound financial future.
