Blog - Page 2 of 2 - Som Prakash

What Drives You ? Vision or Pleasure ?

Recently, I was having a chat with a friend about starting a business venture. He mentioned to me that, we should be enjoying our life and live for today and not to think about tomorrow, as you don’t know whether you will be alive tomorrow or not. This got me to think, he has a point. Should we not enjoy our life today. Who has seen the future ?

When the legendary Billionaire entrepreneur and visionary Elon Musk invested all his $180 Million to start Space X, Tesla Motors and The Boring Company, I am sure all his friends and family members and others must be thinking “What an idiot !!”. How does he even think about starting a company for space exploration and space travel without being an astronaut or without any education or experience in space science. How will this new company have the finances and resources to come even closer to the 60 year old public funded juggernaut called NASA, let alone compete with it?…. The same story goes for Tesla. When automobile giants like GM, Toyota, BMW were rolling out not so successful hybrid cars, Elon envisioned all electric car company called Tesla. And no one thought it would be a success.

When Mr Musk risked all his money in starting these companies, without even having the money for his own accommodation, most of us would have thought him as dumb. He could have invested the money in real estate or in stocks of some established companies and see the money grow and enjoy the rest of his life with the return on his investment. Why did he choose to risk it all ? I guess, you would also agree that, he didn’t start these companies with vision to be one of the world’s wealthiest persons, one day. He could have lost his entire investment and had to start something again from scratch. (FYI: He is now the 5th richest person in the world as per Forbes Rich List July 2020).

So, what is that drives these visionaries ? What makes them to sacrifice their present, for an uncertain future? While ordinary people like me and you, always look for a safe and secure future and look forward to our weekend parties and time with our family, what moves people like Musk?

Should you sacrifice your today for tomorrow which may not be certain?- I guess it depends on your dream. Do you have a dream or a vision which is much bigger than your personal enjoyment and satisfaction ? I remember the famous quote by late Indian aerospace scientist and president Dr APJ Abdul Kalam “DREAM is not what you see in sleep, DREAM is something which doesn’t let you sleep”.

When you study successful people from any Sphere of life, may it be entrepreneurs, athletes, scientists, authors, painters, inventors- All of them had a vision. They get possessed with an idea or a dream. They could see the future before it manifested physically. And they have an insatiable desire to accomplish their dreams. Walt Disney saw in his imagination a theme park for family to have fun together, before world could see the Disneyland in 1955.

The human as a species as opposed to other species survived and evolved in the last few million years, not because of of their physical strength but because of their ability to think and adapt. I guess, when we live everyday only for pleasure, without any desire and ambition, we are just like any other animals living for survival (food/safety) and procreation. I, strongly believe that we have been sent to this world, for a purpose. And the purpose is to make this world better, in our small little way or in a big way while we are in this world.

Tony Robbins says we do things to avoid pain or to gain pleasure. So what drives these legends? It’s definitely the pleasure or the happiness. There is a small difference between pleasure and happiness. Pleasure is self-centred and happiness is what you gain when you positively touch multiple lives. When you cook a special dish and enjoy it with your family, you gain the pleasure of having a tasty food together with your family. But when someone like Colonel Sanders takes his chicken recipe to the world and let millions of people around the world taste the crispy fried chicken, he gains the real happiness, and of course you may end up finding a multi-billion dollar company like KFC.

So, is it boring pursuing your dream? Is it quite a monotonous life pursuing your dream when you are so focussed on your dream that you don’t have time to enjoy the present? I would say, it’s completely OPPOSITE. When you have a dream to accomplish, you are full of excitement and enthusiasm. It feels like you are immersed in the dream. You finish your day working on your dream, and while sleeping you think about your dream and you can’t wait to wake up in the morning and start working on your dream. You are just like a kid with a new toy, who gets so possessed with the new toy that even after a whole day’s play with the toy, he gets up excited the next day, to look for the toy the first thing in the morning.

Deep within all of us is a desire to be more successful. And SUCCESS as per Earl Nightingale is the progressive realization of a worthy goal. So, all of us should have big goals and strive everyday to get closer to the goal. And that is where the real happiness lies.

8 Secrets of 7-Figure Network Marketers

Network marketing or Multi-Level Marketing (MLM) is one of the most powerful business models where anyone with an ambition to succeed and willingness to work hard, could get started and gradually build a substantially huge business. However, making a SIX or SEVEN figure income a year is not very common in the industry, though its possible by anyone. So, what differentiates these high-income earners from others? Everyone sees their accomplishments, but no one sees what goes in their minds and efforts. After being in the industry for more than a decade and analysing the highly successful and unsuccessful people in the industry very closely, I came up with the below EIGHT traits of SEVEN FIGURE income earners.

  1. Belief: The people who become hugely successful in network marketing have very high level of belief in the business. And this is contagious and attracts others to join him in the business. 
  2. The WHY: Successful network marketers have their “WHY” clear from the very beginning. When entrepreneurs like Jeff Bezos (Amazon), Bill Gates (Microsoft), Travis Kalanick (Uber) get excited about an idea or an opportunity (A problem that could be solved), successful MLM entrepreneurs may not be driven by an idea but by a lifestyle. These solopreneurs see the business as a vehicle to change their lifestyle. The lifestyle may be represented by more time, may be an escape from rat race, may be financial freedom.
  3. Dominant Thought: Successful entrepreneurs think, talk and breathe the business. Their dominant thought is the business. Everything in their lives revolves around the business and business becomes the center of their lives. Many atimes people call them BRAIN WASHED.
  4. Single Minded: These Seven figure income earners don’t usually have any back door open. They burn their bridges and get focused on only one mission.
  5. Planning: The people who becomes successful in any endeavors of life seem to be very good in planning. And successful network marketers are no different. They have long term, and also short-term goals. They set goals and plans to accomplish those.
  6. Massive action: Fuelled by the dominant thought about the business, these entrepreneurs take massive actions. As business is the centre of their lives, they get really busy paying the price with their eyes fixated on the destination.
  7. Mentorship: These highly motivated entrepreneurs have insatiable hunger for knowledge to grow themselves and their businesses. They seek out mentor ship from other successful individuals by listening, associating with them and reading different personally development books.
  8. People focussed: The business building activities in Network Marketing involves Retailing and Networking. Retailing involves products and Networking involves people. These highly successful entrepreneurs spend most of their business time in empowering and helping people (Finding and developing leaders). They may not be expert inproducts.

Knowing about all the above traits, the question comes to mind- Can I, as an MLM entrepreneur develop these qualities? The answer is YES. As a matter of fact, not all the high-income network marketers had all the traits within themselves when they started the business. As they started building their businesses, they slowly developed few other qualities.

How to grow the above qualities? It’s important to understand here that the beliefs that we currently have and the way we think is due to how and what we experienced (perceived through five senses) until now. Every child is born with a mind like a BLANK sheet of paper. And as we grow older, the blank sheet is written with what we- see, hear, feel, taste and smell. And from here the character, belief, values and thought process are formed. Some call it “WIRING” of the brain, and some call it “SUBCONSCIOUS MIND”.

Any new qualities or traits can be developed just like the old ones but in a short span of time, by embedding directly into the subconscious mind and by disciplining the conscious mind to identify and stop negative thoughts and practicing new thoughts.

So, at conscious mind level the below can be practiced.

  1. Practice consciousness meditation everyday
  2. Identify and kill negative thoughts as they come in
  3. Practice positive self-talk, listen to positive people/talk
  4. Read positive and inspirational books/articles
  5. Network and associate with positive people

At subconscious mind level, the below can be practiced.

  1. Mediate to reach Alpha state of mind (To reach subconscious mind)
  2. Visualize your dreams as if you have already achieved those

Some powerful books to read about mind and its programming are

The Power of Your Subconscious Mind by Joseph Murphy, Think and Grow Rich by Napoleon Hill, Phycho- Cybernetics by Maxwell Maltz , Awaken the Giant Within by Tony Robbins, What to Say When You Talk to Yourself by Shad Helmstetter.

NOTE: It’s very important to mention here, that there are a lot of companies in Network Marketing industry. You should look at the company’s age, history (Very important), stability and product range before joining one. If you want to learn and be involved in the exciting business of Network Marketing, you could schedule a FREE 30 mins call with us.

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Have You Put All Your Eggs In One Basket ?

Recently by accident I broke my spectacle’s frame which I had been using for last 2 years. Call me old-fashioned or stupid, in last 25 years of me using glasses (BTW, I am not a 25 year old Millennial) I never had two pairs of glasses done after an eye test. And this one week, before I have the eye test and TWO pairs of glasses (for the first time) done, was one the most uncomfortable and long one.

Just like this incident with my glasses, which never happened in last 25 years of me using glasses, in our life, situations may happen which may affect our ENTIRE LIFE and LIFE STYLE. What would happen to your life style if something happens to you and you are not able to go to work from tomorrow ? Have you put all the eggs in one basket ? Do you have a back-up plan ? I know, all of us think that things may happen to someone else but not to us. But reality is, it could happen to anyone.

We now live in an era where expenses are all time high and both husband and wife have to work to support the family which was probably not the case 50 years back. Do you have a Secondary source of income ? Now you may be thinking, I am already working so hard and where on earth I have the time to do something else ? Well, I guess in this age of internet a lot could be done just by investing our spare time to build a solid second source of passive income.

Do you have a second source of income outside your primary income ? If you have, many congratulations. You are on right track. If you haven’t, you could possibly explore one or more of plethora of opportunities that internet has thrown open. Given below are a few which you could possibly explore.

Online Coaching and Consulting:

If you have been working in a job for some time or you have a passion for something or you know you are good at something, probably you could monetize that skill/talent that you have or you have developed over a period of time. The problem is, not many of us identify it as talent. Let’s say, you have a beautiful garden and people coming to your home truly appreciate your effort in making such a beautiful garden. Did you know that you could make money by teaching people “How to create a beautiful garden in your backyard “. For this, you may have to write a blog or to have a website where you provide the information and you could possibly put an E-Book together and sell it online after identifying your potential customers on Facebook ? And this entire thing could be done without investing thousands of dollars. You could also provide your expertise as consulting service to your potential customers. Of course you would need step by step guidance if you haven’t ever done it before. One site which is specializes in this field is www.consulting.com. Sam Ovens and his company (consulting.com) has helped hundred of people to set-up and run their own consulting business profitably.

Freelancing work

If you have one of the skill sets being sold in websites like Freelancers.com, Upwork.com, Fiverr congratulations. You can list your services there and slowly attract clients for your services.

Sell on Amazon/Shopify:

If you are more keen on generating revenue online by selling goods, rather than services as mentioned above, you could do that as well. Platform like Amazon/E bay provides any individual an opportunity to start selling goods, high in demand without even investing money in creating own website. Platforms like Shopify helps you create and keep your own customer base (Unlike Amazon or E Bay) with ready made tools to create your own online e-commerce in minutes. You could get started by going through the budget udemy training and as you grow your business, you may pay to buy some specialized trainings.

Real Estate and Stocks & Shares:

Though usually people buy real estate or shares in companies as long term investment, a lot of people make money in short term as well. But, its very important to note here that no investment or business venture comes without any RISK. Few people learn and get into high risk Day Trading to make another source of income online and few people venture into dealing with Below Market Value properties. However, it requires proper coaching and mentoring before deciding to get into this industry.

Network Marketing:

This is fairly a risk free business without the need of investing your hard earned money or putting a lot of your time. You don’t have to even own your own website to get started in the business. A business opportunity which not only helps you create a substantial passive income, it also helps you to build your soft skills like communication, accountability, time management, business presentation and management skills etc. A great platform to build leadership skills as you will have a lead a network that you build. The mentor ship program that comes with this opportunity is very unique and very essential to build a successful business. One should also be careful about the company to be associated with, as there are companies who started and also gone forever to the utter disappointment of their marketers. However, there are companies like Amway, who have built substantial credibility in the market over a period of time. If you want to know more about the industry and how it works you could set-up a FREE 30 mins strategy call here.

Affiliate Marketing:

Here you make a commission on people buying digital or physical products through your own affiliate link. You have to continuously drive traffic through your blog or website to the companies you are affiliated with to have the continuous source of income. Even though, there are certain subscription based products which gives you recurring income, the income stops when the subscription stops. So, to be successful in this industry, you need to learn how to drive traffic to your content and affiliate link.

Conclusion

Though there may be many other ways you could create a secondary source of income, the above hopefully will direct you to think in right direction and help you look for your ideal second source of income.

Why Our Education System Sucks ?

The Education system never changed since Industrial Revolution !!!

Why our colleges and Universities teach us all the techniques and skills to work for someone else or to be self-employed. Why don’t they teach Entrepreneurship ? Why don’t they teach about wealth creation ? Why are we never taught about the success principles of life such as Dream, Law of Attraction, Power of Mentorship, failures as stepping stone for success ? Why do we see the Founders of major enterprises probably never went to Universities or even if they did, they dropped out to start their businesses.

This old way of education, which was developed to churn out hundreds of workers to work in factories and industries around the world, still persists. Our education system teaches everyone the SAME syllabus irrespective of the fact that each of us is born unique with our own strength and weakness.

If you haven’t already, please watch this video. An absolute master piece and thought provoking.

Do you also believe that you would have a more fulfilling career and life if you would have been taught and grown in an environment where you are not judged by how good is your English or Maths is, but you are encouraged and appreciated by the qualities that you have and what you could become ?

Whats The Difference between Income and Wealth ?

Why do the rich get richer and poor and middle class remain there ?

Never in the history of any country, had we seen so many working mothers. I am not against women working, as a matter of fact I am a strong proponent of equal rights and women empowerment and that is what I have been teaching my nine-year-old daughter about as well. However, the point I am trying to make is- Single income household is becoming a thing of past. With the rising cost of living, both husband and wife have to work to make the ends meet. So, TWO household incomes is a now a necessity rather than a choice.

If two income streams are not sufficient, what could you possibly do to increase the income further? You could choose between another linear income or a passive income. It’s very important to understand the difference, as I didn’t know the difference until I read a book by Robert Kiyosaki called “Rich Dad Poor Dad” and a subsequent book called “Business of the 21st Century”.

Linear Income Vs Passive Income

A linear income is the income that you make by trading your time. That could be another part-time job or freelance work. The advantage of linear income is- it’s an “immediate income” but the negative side of it is your time is limited (24 Hours) and you will get busier and more exhausted. And when you stop working, the income stops.

Passive Income from Money leveraging

Passive income is the income you make without putting the proportionate time for it. The best example for this could be investment income (Rent, Dividend, Interest etc.). Usually these are driven by investment of MONEY not Time. The downside of this income is – The effective income (Invested amount less the return of investment) may not be immediate i.e you may have to wait for some time before you recover your invested amount. The positive side of this income is the TIME. Your income becomes independent of your time. So, you will have a lot of FREE time compared to someone having another job. Hence, most of us invest our spare money in stocks, shares, real-estate etc for retirement if not as a secondary source of income.

Passive Income from Time leveraging

So, as we could make our spare money work for us to create a passive income, could we make our spare time to do the same? The answer is absolutely YES. You could either make money work for you or a system which multiplies your time to work for you. Let’s say- you start selling some products online in Amazon or E-Bay. What these websites are doing is giving you 24/7 platform where you don’t have to sit to sell the products. You just have to spend the time to post the product on the e-commerce site and the website works as a system- 24/7, showcasing your product, taking orders, depositing the sales proceeds into your bank account and programme like Fulfilment By Amazon (FBA), even ships the products on your behalf to your customers. Hadn’t there been any system, you had to be at your shop doing these or you had to buy the time of others (Hiring people) to do these. So, the websites are nothing but time leveraging system. As long as you keep doing your market research about the products which have big demand online and keep selling those products, you will keep making the profit. The only caveat here is- selling on a third-party platform like Amazon, E-Bay, you never build your own loyal customer base. These e-commerce platforms never reveal your customer contact information to you. Hence, the websites like Shopify starting to get popular where you could own your customers, but you have to create your own traffic through your own marketing.

So, both Amazon and Shopify have their own advantages and limitations.

However, is there a way I can have an online platform, where my loyal customers keep growing exponentially forever automatically, growing my business turnover? The answer is YES. It can be done, when I help my customers to become business owners, just like me and help them to make money. This is a very powerful concept, where entrepreneurs breed other entrepreneurs. This business model is called “Network Marketing”. This concept should not be confused with the illegal Pyramid selling where the highest reward goes to the person who is at the top. In a legitimate Network Marketing business, the system rewards the entrepreneur who generates the most turnover helping the most number of other entrepreneurs.