Random musings: Whose dream are you building? #TBT

Thursday, July 18, 2019

Whose dream are you building? #TBT

Today's blog post was originally published two years ago:

This post is based on a Facebook post from my friend Mary Swarts.

We're trained by society to be the laborers in the dreams of others, whether it's the dream of a small business owner or the dreams of a corporate CEO and the share owners of that corporation.

I don't know about you but I agree with this:

Even though I've spent 37 years building the dreams of AT&T's share owners, I've always felt that I needed to do more to build my dreams. And even though they were often buried in the day to day drudgery that often comes from building the dreams of others, they never completely went away.

So, how do we build our dreams? There are many ways such as investing (which is often risky) or building your own business (which can be risky depending on what kind of business you start). You can start a business based on skills that you already have such as accounting, law, etc. Or you could spend hundreds of thousands of dollars starting a franchise such as McDonald's. According to Business Insider:

Startup costs, which include construction and equipment expenses, average between $955,708 and $2.3 million, according to McDonald's.

The article further states:

Franchisees must pay 40% of the startup costs with cash and other non-borrowed resources, while the rest can be financed.

In addition to those costs, McDonald's charges a $45,000 franchisee fee and an ongoing monthly service fee equal to 4% of gross sales. Franchisees must also pay rent to the company, which is a percentage of monthly sales.

One of the best ways to build your dreams is with a network marketing business. The startup costs are low, often under $1,000, so the risk is minimal. And one of the advantages in NM businesses is what's known as leveraged residual income. Residual income is money that you make over and over for something that you did once, such as writing a book or song, or recording a song. Elvis Presley makes more money now than when he was alive. A more down-to-earth example is an insurance agent...they sell you a policy once but collect money from you every month until the policy is cancelled. Leveraged income is money that is made based on the work of others...if you own a beauty shop you make money on the efforts of all the stylists that work for you. A real estate broker is another example...they make money off every agent that works for them.

Leveraged residual income is money that you make repeatedly on the work that you and others have done once.

There are many network marketing companies out there, so you're sure to find something that appeals to you. I know people in many different companies...I'd be glad to hook you up...just email me.